posted on May, 20 2012 @ 02:54 PM
Originally posted by mainidh
reply to post by anoncoholic
I'm a bit confused - non-negotiable means that the bank can only pay the money to the person named on the cheque?
Still your cash tho, you just can't get someone else to cash it in your name?
I'm money illiterate however, probably why I'm always skint, and I've had hassles writing my own signature at times from banks, who leer at me with
sneaky eyes as if I'm some sort of scoundrel..
Since reading this original thread a few days ago, I wondered what the motive for suspending accounts and holding funds could be - especially since
the funds are frozen and will be returned to the buyer on request... or to the seller after 6 months.
I am no financial wizard, but can funds that are frozen be considered assets for paypal, until they have been expelled from their books?
Do they have anyway to use the funds for their benefit? I mean to ask, can they submit these 'frozen' funds into an interest bearing account, where
they can profit the interest, before expelling the frozen funds?
If this is possibe, think about the implications. What if they did this to 5,000 people world-wide, with an average of $200.00 per person,
1,000,000.00 would be gaining interest for them at any given time.
in an account that gains 4% interest... that's $40,000. Might not seem like a lot, but $40,000 can add up quickly, especially if this is possible and
the number of people experiencing this problem is higher than 5k, or the funds that are frozen are more than $200 on average.
Maybe not possible for them to do, but maybe worth checking into.