over 24 hours since my last " fast withdrawal " and still pending ..........suprise , surprise .
I have some questions for paypals elusive staff , or maybe someone else out there can answer them.
1. is it true that paypal is registered as a bank in luxembourg and is therefore not regulated by the uk financial services authority ?
2.Is it therefore not possible to obtain legal redress from paypal in the uk courts?
3. I beleive uk regulated bank accounts are protected up to the sum of £85000.00 , what if any protection applies to a paypal account should they collapse like northern rock , b&b , and the icelandic banks .?
4. If paypal is registered as a bank , why does it take so long for a wire transfer to happen , when any high street bank can do it in ten minutes.
5. If i pay my ebay fees direct from my paypal account , the process is completed within seconds , however i can do a wire transfer shortly afterwards and its still pending days later . Why ?
6.Is it true that paypals revenue is estimated to be between 6-7 billion dollars , and that approx 70% of their cash flow is generated through ebay ?
7.Is it true that paypal invests the balances in most of their customers accounts , in short term money markets and other securities ? Some of which may lose value.
8.The problems with wire transfers started approx two weeks ago , which was when the media started going on about greece pulling out of the euro .Has paypal invested customers funds in greece or any of the other failing euro nations?
The moral of the story folks , if in doubt , pull your money out . Dont leave thousands of pounds lying around in your paypal account.
