Re:Paypal Horror Story 40k Frozen No Answers
by DrScump on Sunday March 12, 2017 @09:07PM
(#13854450)
No, I didn't misunderstand the quote:
"set up a nightly sweep from PayPal to a proper bank account"
In other words, there is no mention there of any second bank account as a final depository... which is, of course, the best mechanism.
Re:Paypal Horror Story 40k Frozen No Answers
by deelowe on Sunday March 12, 2017 @10:27PM
(#13854781)
A "sweep account" is a technical term and has a specific definition. The parent's comment makes absolute sense if you know what sweep accounts are used for in the more traditional sense. The parent is suggesting setting up a 0 balance sweep account and then having paypal deposit all funds into that account nightly.
Re:Paypal Horror Story 40k Frozen No Answers
by lazyasciiart on Monday March 13, 2017 @02:00AM
(#13855562)
The original comment didn't even use the term "sweep account".
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Re:Paypal Horror Story 40k Frozen No Answers
by deelowe on Monday March 13, 2017 @05:31PM
(#13862627)
These comments are hillarious. Literally the first result for nightly sweep:
https://www.google.com/search?q=nightly+sweep&oq=nightly+swe...
Paypal gets "swept" into the sweep account at your bank, and then that account gets "swept" into another account at your bank that paypal does not have access to.
Your sweep account should get a very low balance, and only acts a sortof public-facing proxy for your bank accounts.