General > General Technical Chat
PayPal to charge £12 inactivity fee
Someone:
--- Quote from: tom66 on October 15, 2020, 09:05:31 pm ---
--- Quote from: tggzzz on October 15, 2020, 06:35:57 pm ---
--- Quote from: tom66 on October 15, 2020, 05:14:12 pm ---Another good reason to keep no more than £0 in your PayPal account at any one time. If you receive money, transfer it out to a real bank account immediately.
--- End quote ---
IIRC you pay to do that. I prefer to just spend the balance on things.
--- End quote ---
No, it's absolutely free. Confusingly, PayPal offer "instant" withdrawals for £0 ... and "3-5 day" withdrawals, also for £0 fee. Not sure why they do both, maybe on some accounts they charge more.
--- End quote ---
Global platform, other jurisdictions have a fee for the instant version (and/or to/from CCs).
tom66:
Sure, but why not hide the slow option in jurisdictions where there's no charge? Isn't everyone going to select the fastest option if they are both free?
Someone:
--- Quote from: tom66 on October 16, 2020, 06:57:26 am ---Sure, but why not hide the slow option in jurisdictions where there's no charge? Isn't everyone going to select the fastest option if they are both free?
--- End quote ---
Get you used to clicking that option and then start charging for it later?
Kjelt:
I can imagine this has to do with the negative interest conglomerate banks asking for stalling money.
In my country any amount above €200000 gets an negative interest of 0.5% annually.
If someone would put it on a paypal account they would be better off.
Jeroen3:
Paypal doesn't want to have debt to you. It's supposed to be the opposite.
So they just take money on both sides of the balance now. Just like real banks.
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