I've been dabbling in a little online selling of late, for a couple of reasons.
One client suggested he pay me with his company credit card so I didn't have to deal with the delays from their payables department.
I've sold a few things online, (such fun!)
Net result, I'm running a balance.
But PayPal isn't relaly integrated into my business accounting system, so I'd really rather make most payments using my credit card. Plus, of course, there's the points involved.
Deposit taking institution, or not?
I've been wondering why PayPal is not regulated as a deposit taking institution (aka bank) for a while now, given the balances they must surely be holding.
So I'm guessing PayPal is trying to mitigate this challenge by telling me I have to have NO BALANCE before they will let me use another method.
Big pain in the rear end.
Just one more way in which technology and the ways we want to use it continue to outpace the rate at which we can develop policies to control the whole thing, and even regulate it.
Anybody know the real reason for this policy? I'd love to hear from you.