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Your PayPal float

by Neil Morgan
7 replies
Hey Guys

Do you keep a float in PayPal for refunds, payments etc?

With the various horror stories about frozen accounts etc, it's a juggling act to keep some funds in there for necessary expenses while reducing your exposure to the risk of account freeze which could tie up the lot for eternity

What's your way of managing it?

Cheers,

Neil
#float #paypal
  • Profile picture of the author Diana Lane
    I do keep a reserve in PayPal for refunds and payments, and so was a bit baffled when I refunded a customer at the weekend and PayPal insisted on taking the money from my bank account and issuing the customer with an eCheque (OUCH), despite the fact that there was enough money sitting in my PayPal account at the time to instantly refund the customer ten or twenty times over. I rarely have to refund (probably about four or five times in the last year) and so can't claim to be sure of the usual procedure, but I'm fairly certain that this wasn't it.

    PayPal moveth in mysterious ways, it's blunders to perform.
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    • Profile picture of the author Sten M. Andersen
      I also keep a small amount available -- maybe a few hundred dollars.

      Diana: No that's definitely not the usual procedure. I've had a few refunds, and they all gotten the funds directly, from my "float."
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  • Profile picture of the author Neil Morgan
    Hey Diana

    Mm, never heard of that before. For me, refunds have always come out of my balance.

    Could it have been a currency thing?

    Meaning if the customer paid in UKP but your balance was in USD, the refunds will come from your UKP balance (or UKP funding source if there's not enough in there) but not automatically transfer from your USD balance?

    Cheers,

    Neil
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  • Profile picture of the author Michael Mayo
    Hi Diana, could it have been that the person paid you by eCheque so PP refunded them by the same method??? Just taking a guess?

    Have a Great Day!
    Michael
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  • Profile picture of the author Diana Lane
    I've just been taking another look at it and the customer's payment appears to be standard in every respect. I'm not going to let it bother me unless it becomes a habit, but it is most strange.
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  • Profile picture of the author Michael Mayhew
    Originally Posted by Neil Morgan View Post

    Hey Guys

    Do you keep a float in PayPal for refunds, payments etc?

    What's your way of managing it?
    Absolutely. I always keep a balance. Plus I'm a big fan of their debit card
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  • Profile picture of the author kevinfar
    I always keep some kind of reserve as well. I like to think of having an alternative balance that I can use to make purchases/ refunds if necessary without having to use my bank account.

    Kevin
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