Comments on: Called About PayPal Debit Card

By: Ray Kruger

Ray Kruger — Tue, 21 Jul 2009 10:17:03 +0000

Paypal has just introduced a new way to scam you out of some of your money. Here’s a recent email I received from Paypal.

“Many of you asked us to make tracking your PayPal Debit Card cash back simpler. You got it.
Starting August 1, 2009, the cash back earned on your PayPal Debit Card transactions will be combined into a single deposit and paid monthly, rather than after each transaction, making your record keeping easier.
Your cash back rate won’t change.”

What this means is that Paypal will now keep your cash back money and not release it till the end of the month. You are in fact making Paypal a interest free loan of your money till the end of the month. Now this only means a few dollars kept back per person till the end of the month but multiply that by the millions of people that use it and Paypal is holding back Millions of Dollars till the end of the month.

By: Rocketc

Rocketc — Mon, 11 Jun 2007 19:17:03 +0000

Thanks for the head’s up. i hadn’t left a lot of $ in there, yet, but i was planning to keep more.

By: Steve

Steve — Mon, 11 Jun 2007 10:23:46 +0000

The average return on the PayPal fund is only 3% and you can lose money. Your much better off throwing it into a 5% savings account.

By: Rocketc

Rocketc — Sun, 10 Jun 2007 11:52:32 +0000

I can’t imagine using paypal that much. The interest that we make on unused balances is nice.

By: Marc Edwards

Marc Edwards — Sun, 10 Jun 2007 05:21:29 +0000

I have had a Paypal debit card since they introduced it.

I also took advantage of their cash back program. Today they pay 1% on credit card purchases [I am grandfathered in at 1 1/2%], if you sign up for that program – no cost.

You earn the cashback immediately at the time of purchase.

Only caveat is that it has to be a credit card purchase and not a debit, where a ‘PIN’ has been entered.

On a another note – my paypal balance is earning 5%+, paid monthly. Just have to sign up for it.

Since I do a lot of shopping on ebay, it was a nobrainer.

By: Nelson

Nelson — Sat, 09 Jun 2007 21:35:21 +0000

Hi,

I want to thank you for making me laugh. PayPal, the company that is so load to handle your problems properly and doesn’t give out phone numbers, is actually calling people? LOL!

By: Richard

Richard — Sat, 09 Jun 2007 09:17:34 +0000

LOL!

By: Paypal

Paypal — Fri, 08 Jun 2007 21:48:17 +0000

Are you sure you don’t want that Paypal debit card? It’s a really great deal you know.

- Paypal

By: pcooper

pcooper — Fri, 08 Jun 2007 21:05:24 +0000

Caller ID numbers are spoofable, so I wouldn’t trust that for authentication.