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Paypal as a deposit account
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You are currently reading a thread in /biz/ - Business & Finance

Thread replies: 26
Thread images: 5
Assuming a bank fails, or the bank/government decides to seize money on bank accounts, is it safe to transfer everything on Paypal?

Can it be used as a temporary swap deposit?
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>>1089043
paypal is the least safe way of holding money there is, if they found the slightest reason to close your account and take your money they will

its safer to pile your cash into your grandmas mattress
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>>1089043
PayPal super bowl commercial *new money* was confirmed hours ago referring to Bitcoin.
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Lol paypal is dust once people realise crypto exists. Short paypal. The game is OVER
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>>1089070
Of course, but remember what happend in Greece a few month ago : citizens could only withdrew like 100€/day.

And that's if there's still money in the cash dispenser, after waiting 4 hours in line.

What I want to know is if there's a way to transfer money instantly from my bank account to somewhere safe, all from my computer.

Paypal/Google Wallet/whatever Apple is doing might be temporary a solution. Or that's what i'd like to think. Crypto currencies are not a valid answer as far as I'm concerned.
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>>1089085
paypal wouldnt have saved you in the greece situation unless you transfered before the limit hit, and then your money is sitting in paypal where it is at huge risk

you want an out of country bank account, swiss probably but you also probably cant afford that
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>>1089090
Right on point, I obviously dont have enough for that, but I have too much if such a worst-case scenario happened.

I got out of the stock market and I'm waiting for better days, so I'm 100% cash now. And I really don't see myself buying physical gold.

Oh well, I'm gonna get fucked I guess.
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>>1089043
>>1089092
>rent a deposit box at some stable country of your choosing
>pile up money/gold/whatever the shit you want there
That's what i do.
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Are there any alternatives to Paypal or do they pretty much have the market cornered?
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PayPal is complete crap.[
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>>1089074
>>1089043
http://www.wsj.com/articles/paypal-puts-a-stop-to-bitcoin-inspired-ad-parody-1455150080
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>>1090222
>http://www.wsj.com/articles/paypal-puts-a-stop-to-bitcoin-inspired-ad-parody-1455150080


>“Our vision of New Money includes Bitcoin,” a PayPal spokesperson wrote in an email to WSJ. “But to avoid customer confusion, we asked them for the video to be removed.”
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>>1089043

Hey OP,

I don't trust banks either but have a rather nice income (I'm a tax consultant).

I'm currently living in my country's capital city, renting an appartment with two friends.

Because I'm basically working the entire time I don't spend a lot of money so I did the following.

>Bought a patch of land close to where my parents live so they could keep an eye on it

>Rent it out to some guy who does some low level farming shit

>He puts a fence around it and lets some goats and shit roam there

Now I have to be honest, it isn't completely covering the loan and I might have taken some risk here since the guy won't be using it forever, but I sitll think it's better than putting it all in a savings account.

tl;dr using my income to pay off a loan instead of putting it at a bank
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>>1089043
PayPal is at least as likely to fail as a major bank.
If you deposit your money in a guaranteed bank account, that's pretty much the safest you can get. In some countries, bank deposits are guaranteed by the government (usually up to a certain amount). In the US, there are FDIC insured accounts.
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>>1089043
>Paypal froze account last night
Fucking shit is there any alternative to paying online without directly inputing your card?
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>>1089043
Dude paypal can literally take your funds at their discretion. In fact you're better off looking at it as being paypal's money which they can return to you at their discretion.
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>>1089085
>Crypto currencies are not a valid answer as far as I'm concerned.
Then you're still cucking yourself. If you want to take control of your own money paypal is a fucking joke and so are you for considering them for this purpose. You honestly must be 12 to not understand how illogical your plan is.
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>>1090179
Skill
Based out of UK
Always works well for me and I've done thousands of dollars in transfers without any questions.
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>>1090179
Autocorrect
Skrill
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>>1091438
Cryptocurrencies dumbass
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>>1092412
CRYPTOSCAMCOMMODITIES
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>all this retardation
The FDIC ensures up to $250,000.
The government is not going to seize your assets, unless you are cheating someone.

If the international banking system collapses it will mean the death of modern civilization, in which case legally owning a parcel of land, a bunch of yellow metal, or a series of ones and zeroes isn't going to help you.

Seriously, are you looking to launder money or something OP?
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>>1091453
all of this.
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>>1091061

that sounds really retarded, and like a great way to ruin your credit forever if something goes down like you losing your job.
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You can keep your paypal balance, or any part of it, in different currencies. It's a good way to play the currency markets without paying fees. Example - I kept $1k in Norwegian krone for a few months, and then reconverted it into $1150.
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>>1092613

Literally everyone loans money when buying immovable property here since it's often tax deductible.
Thread replies: 26
Thread images: 5
Thread DB ID: 514216



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