Whether to Keep My Entire Online Earning On My Paypal Account Or Not

I am from India and as per the RIB (Reserve Bank of India), [the Suprem authority for financial control], has given the instructions that all the money which is accumulated to the paypal account needs to be transferred to our local bank accounts, which linked earlier. As long as paypal is just a mediator for transferring funds, they don't have the authority to hold or keep the money not morethan 7 days. We are given instructions to transfer the money to our account or it will get automatically transferred to our account. As per the govt., as paypal only deal with the transfer, they cannot hold the public's money for long and if they keep, they are liable to pay interst. If they are paying intest, the the type of business become like a bank or banking institution or similar to it and they have to comply with other rules and regulations. As this is just one reason, we cannot hold the money with paypal for long. I don't know about Phillipines, you may be able to hold the money with them. I think paypal used to pay noninal interest also to the public if they keep mony for a long period, but not now.

Paypal is cool. I use it. I like it. However, I personally wouldn't leave money in there for a long stretch as I've heard of some people's accounts being hacked into (somehow).

hi aries1973. how are you? hope you are doing fine. here's my take about online earnings. what i do is i keep my online earnings in my paypal account until the end of the year. if the amount i have is enough to make a withdrawal from my paypal account to my bank account without being charged by a fee from my bank and paypal, then i go ahead and make the transfer. otherwise, i let my funds stay put in paypal as i do not really see any reason to move the funds from paypal to my own bank account and get charged by a transfer fee. hope this helps. cheers and happy mylotting!!!

Transferring in bank acount cost too much. My wife's cashout in mylot was tranferred using my BDO account and it costs about 300 pesos. There is and EON card from Unionbank that charges nothing. Once I reached my last cashout, we just bought some nappy for my son thru onine shopping. I think if you have a bank account that charges nothing when transferring account from paypal, better tranfer it in your bank. On the other hand, if it charges much, just let it stay there and use it to purchase at online shops.

Hello Aries, I don't like saving money in my Paypal account, because I had problems with them in the past. They held one small amount I made because of unexplained to me reasons and they didn't want to give it back for a while. They also started investigating my account for unusual activity, which was very strange to me. I also have another reason to not keep any money there and it is that if I do so, when I decide to withdraw the money from my Paypal account I will have to wait 5 days til the money reach my bank account.

I like paypal. It is one of the best e-wallet. I was once in your situation. I decided to invest it in other sites. I want to make my money grow. Just be cautious on what site you want to invest your money.

I transfer my earnings out of paypal every month or two. The reason that I allow it to sit there for awhile is because I recieve several small payments a month from various sources. It is more of a convenience for me to pull the money out once a month than it is to do a transfer every time I recieve a payment from a vendor or client. I have never had any problems with paypal, but I have heard horror stories.

ARIES1973, I have most of my online earnings into my Paypal account where I leave it until I make a purchase. My funds have been secure; I have not had any problem with Paypal in all the years I've had an account. I do think that you should follow your own heart when you are dealing with your money; I have had a good experience, that doesn't mean that everyone else has too. If you have reservations, you may want to link your Paypal to a bank account set up specifically for your online earnings. Whenever you like, you can transfer money from Paypal into your bank account.

Hello! For me i will not stay long my earned money via online in my paypal account since paypay is only in the internet. Whatever happened in the website our money will never realize. I don't say that paypal is not good, they are good only thing is that is in the internet and we don't even know there office. So better to withdraw you money and transferred it to your bank account.

I do trust Paypal however I don't keep my money on it even on the bank.When I withdraw in my local bank account.I immediately get it and keep it in my hands.

I have my paypal account for more than 4 years and never been encountered any problem. I keep my earnings there lying for many months- yes, 3-4 months because I want to earn/save bigger amount to buy things from my online earnings.

Hi does your bank pay any intrested? my checking account does not so far I have no problems with pay pal this what i do since im on line every day i check all my account are with money to see if anything wrong i never had a problem with pay pal Im starting to trust pay better then the banks with all the fees bank are chargeing now Im glad I got away from those banks just keep a eye on your money .

I do that. I am still in accumulation mode with my unverified Paypal account. I have set a target amount for me before I apply for an EON card and pull out my earnings in there. The disadvantage is that the earnings in Paypal does not earn any interest at all. But still, locking it up in Paypal is safe.

Paypal is one of the safest online processor. I would not be so much worried about the safety of my money. I have money in my Paypal and I do not plan to transfer it to my bank account. I just leave it there so that I can use it when I want to buy something online.

I think it is quite safe to have your money in Paypal, but just don't keep too much of it inside, one will never know how long will Paypal continue to operate online, it can be a month from now, or ten years from now before it disappear from online business. So far, history of Paypal is quite consistent, and it is indeed a trusted online payment processor for many online businesses, keeping certain amount of your fund inside Paypal may help you a bit and make your life easier if you decide to buy something from online stores later. It is only my two cents for your reading pleasure, you don't have to agree with me at all if you don't like what i say here.

Hi, I keep all of my earnings in my Paypal account. I only withdraw the money when I need it. This is the best way for me to save more money.