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I have been using PayPal off and on since 2012 for 2 main reasons.
1 - Convenience, I didn't have to enter a credit card every time I purchased from a site other than usual trusted sites where I store my payment information, like Amazon, and sending payments to friends/family was simple.
2 - Peace of mind.
I recently found that the assumption of (2) was wrong, so I fired PayPal. I don't want to get into the details. Beyond being therapeutic, it won't really make life better moving forward.
That brings me to the question, since I have fired PayPal, I am sure that someone will want to send me, or more likely, have me send them money. Before I go out and research the providers on my own, I thought I would come here. What do Soylentils suggest for peer to peer payments?
(Score: 0) by Anonymous Coward on Thursday December 01 2016, @07:24PM
I'm pretty sure any U.S. financial institution can freeze your account, it just happens more often with PayPal because more suspicious (illegal) activity occurs with PayPal than the others. This is why medical weed outlets deal with cash only. Even though legal statewide it's still illegal by the feds. I guess the best answer is cash or perhaps bitcoin, but reading the news lately about bitcoin, even that looks shady now.
(Score: 1) by claywar on Thursday December 01 2016, @10:50PM
I'm pretty sure any U.S. financial institution can freeze your account
When did PayPal become a U.S. financial institution subject to banking regulations? I may have missed this, but this seems to be the root cause of many issues.
(Score: 1, Informative) by Anonymous Coward on Thursday December 01 2016, @11:01PM
https://en.wikipedia.org/wiki/PayPal#Regulation [wikipedia.org]
> In the United States, PayPal is licensed as a money transmitter, on a state-by-state basis.[87][88] But state laws vary, as do their definitions of banks, narrow banks, money services businesses and money transmitters. Although PayPal is not classified as a bank, the company is subject to some of the rules and regulations governing the financial industry including Regulation E consumer protections and the USA PATRIOT Act.
And it continues with many more details. Looks like the rules are different every where they operate, in one sense it's almost surprising that one company could actually comply with all these different rules.
Today the wiki page came with one of Jimmy's requests for donations. And one of the payment methods is...wait for it...PayPal!!