elgato
Joined: 24 Feb 2005
Posts: 16923
Location: Texas
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| Posted: Wed Apr 07, 2010 11:28 am Post subject: PayPal may delay UK bank account withdrawals |
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PayPal appear to be hotting up on their security measures, a number of people’s PayPal accounts have been “been randomly selected for this maintenance” and when they log into PayPal “”ill now be taken through a series of identity verification pages”. The security measures appear to be confirming your bank account number and sort code.
What’s possibly worse is that there’s a new message on the PayPal screen to withdraw money to your bank account which reads “Withdrawals may be subject to review to help maintain your safe use of the PayPal service. As a result, it may take longer for your withdrawal to reach your bank.“. This appears both on the standard withdraw page and the faster withdraw page for which you’ll pay £5.00 to have the funds in your bank account within 1-2 days.
more.. link to news article |
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LurkeyLou
Joined: 20 Feb 2005
Posts: 1979
Location: Columbia River Gorge, Washington
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| Posted: Wed Apr 07, 2010 12:59 pm Post subject: Re: PayPal may delay UK bank account withdrawals |
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elgato wrote (View Post): › docWrite("quote")PayPal appear to be hotting up on their security measures, a number of people’s PayPal accounts have been “been randomly selected for this maintenance” and when they log into PayPal “”ill now be taken through a series of identity verification pages”. The security measures appear to be confirming your bank account number and sort code.
What’s possibly worse is that there’s a new message on the PayPal screen to withdraw money to your bank account which reads “Withdrawals may be subject to review to help maintain your safe use of the PayPal service. As a result, it may take longer for your withdrawal to reach your bank.“. This appears both on the standard withdraw page and the faster withdraw page for which you’ll pay £5.00 to have the funds in your bank account within 1-2 days.
more.. link to news article
Not hard to see the direction this is going. They're testing to see if people are willing to pay for expedited withdrawals. The next step will be to tier the service and offer everyone standard or expedited withdrawals. Within 2 - 3 years all withdrawals will be fee based.
In the meantime they're slowing the transfer of funds which increases their interest earning pool, another revenue increase.
The exchange rate today 5.00 BP is approximately 7.60 USD. |
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