Re:We got banned from PayPal after 12 years of business
by koolba on Thursday May 09, 2019 @12:23PM
(#19869647)
To be more specific, you should not keep your money at a 3rd party with more control over your money than necessary for longer than necessary.
Giving PayPal an interest free loan and control over you balances rather than sweeping them into a (potentially interest bearing) account controlled by you is one example of this.
Another is having a second account at a different bank that you sweep money from the first one. That second bank account should be set up to reject automated ACH withdrawals so that you can push money into it but PayPal, your payroll company, your bill payers, or even other companies that ACH payments to you cannot withdraw from your account without your permission.
Giving PayPal an interest free loan and control over you balances rather than sweeping them into a (potentially interest bearing) account controlled by you is one example of this.
Another is having a second account at a different bank that you sweep money from the first one. That second bank account should be set up to reject automated ACH withdrawals so that you can push money into it but PayPal, your payroll company, your bill payers, or even other companies that ACH payments to you cannot withdraw from your account without your permission.