Comments on: Feds: PayPal not a bank

Federal regulators have boosted the online payments company's contention that it is not a bank and shouldn't be regulated as one.

paypal is a banking facility

My sales go directly into this account. It can be accessed by a debit/bank card. Only funds deposited are accessible. This is my money in there they are holding, untill which time I choose to withdraw it. Paypal is definantly engaged in banking activities, and should be covered under the FDIC.

paypal is a banking facility

My sales go directly into this account. It can be accessed by a debit/bank card. Only funds deposited are accessible. This is my money in there they are holding, untill which time I choose to withdraw it. Paypal is definantly engaged in banking activities, and should be covered under the FDIC.

paypal is a banking facility

My sales go directly into this account. It can be accessed by a debit/bank card. Only funds deposited are accessible. This is my money in there they are holding, untill which time I choose to withdraw it. Paypal is definantly engaged in banking activities, and should be covered under the FDIC.

[apaypalvictim]

PAYPAL acts as a Bank and Should be regulated as Bank! Our Federal Government Must Close the Loophole's, that allow an Unsavory Company like Paypal to operate unregulated and checked. If Paypal Inc. doesn't want to be regulated as a Bank, then Shut it down.

[moroeder]

The "Feds" don't think Paypal is a bank? They didn't see any problems with Freddie or Fanny either! It's getting to the point where we the people can't trust our government for anything. Anarchy is probably closer than we want to believe!

[Indianafloors]

I found this in a forum they banned to guy but I see his point.

hold by ebay is illegal....
It is time to file a class action suit !!
Lets get the ball rolling !!
Let me explain.

Paypal has everyright to hold funds as a banking center I concur with this.
however..... it is not Paypal holding the funds, it is Ebay.

Paypal is following directives imposed by Ebay the hold is being intitiated on the Ebay side I know this to be fact after arguing exstensivly with both parties.
It started when I opened a new account under a new name for an expanded business last month.
I have been current with ebay since 2004 I am a powerseller with 100% feedback rating and lauded by Paypal for having a steller record.

When I open the new account the first 2 order no problem, the next all in a row have been held by ebay.Ebay say this is random hold and that Paypal is doing it. This is false
It is not random either!! and ebay is doing it, ebay does not have the authority to hold funds as they are not a banking center.
They are illegally hold funds and are telling Paypal to hold funds for them, this is illegal.

I tell what they are doing...... Ebay has lost many sellers due to thier backward policies that protect buyers and leave sellers flapping in the wind....
Paypal processes 1000 transactions per minute....now.... the longer they hold it the more money they can make on interest...

Interest......ing eh?

Since Paypal is owned ebay, ebay is making money on the interest for the orders they are telling paypal to hold.
Not only is this illegal it is "Theft by Deception"
They are stealing yours and my money for up to 21 days while they draw interest...while forcing us to pay for product without the funds we have earned with our selling prowness......

Does anybody here get a free ride from Ebay???
I don't and there are many times ebay makes more than I do because they take value on the whole amount instead a percentage of just the profit like.... we all get....

Do you feel Offended.
I do!!