| Posted by: slotski at March 3, 2002, 9:15 am | | Topic: WWW.Paypalwarning.COM Forum: Winner Online |
Gambler 45 said:
Pay Pal is registered with the (FIC) (i think that's what it's called) and works like a regular bank. i.e. If paypal goes out of business, they will insure you to up to $100,000 US.
SFeagle said:
You are mistaken. Paypal is NOT a bank and therefore is not insured by the FDIC
Following is what they really offer regarding insuring your funds:
(From their website)
Is my PayPal account insured?
Yes. Through Travelers Insurance, you are protected against unauthorized withdrawals from your PayPal account, including unauthorized withdrawals from any bank account you may have linked to PayPal, up to $100,000.
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