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A comment on Tell HN: Do not store any funds in PayPal or use them for anything critical. Parent comment

Re:Tell HN: Do not store any funds in PayPal or use them for... by megous on Thursday February 23, 2023 @07:44PM (#34919073)
They may have the licenses, but do they actually do business under them? They did not in the past. So it always looked just like a fun ploy to gain some credibility.
[ Parent | on HN ]
Re:Tell HN: Do not store any funds in PayPal or use them for... by sofixa on Friday February 24, 2023 @02:24AM (#34921891)
> They may have the licenses, but do they actually do business under them? They did not in the past

What do you mean? They provide banking services, they cannot do that without a banking license to do it under. They used to only have one, in Lithuania, and use it for all operations, but now they have a bunch more and the most appropriate applies (e.g. I'm in France, and I'm under the French one).

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Re:Tell HN: Do not store any funds in PayPal or use them for... by megous on Friday February 24, 2023 @10:02AM (#34925130)
Companies can provide money services without a banking license. A lot of companies do.

When I duckduck the question, even revolut has this in their FAQ: https://megous.com/dl/tmp/bbebf0d88acb54d8.png

It's possible to have a license and not use it.

[ Parent | on HN ]