Paypal (was Re: [Gllug] OT : Credit cards in a MySQL Database)

[Rich Walker]

Rev Simon Rumble <simon at rumble.net> writes:

> On Tue 17 Jun, Alistair Mann bloviated thus:
> 
> > Last I heard, paypal was being castigated for losing people's money, taking 
> > months to sort out problems, and so forth. Have things changed? Thus far I've 
> > avoided using it either as buyer or seller; is it mature enough now to do 
> > reconsider? Does anyone else here use it, and care to comment on their 
> > experience?
> 
> Worse, they perform bank type functions but they aren't a bank. 

In my book, that actually qualifies as an advantage. Unless you know of
a bank where the online-access doesn't require specific Java runtime
engines, specific holes in your firewall or specific browsers; a bank
where you can keep your accounts in multiple currencies without
incurring a UKP 20 charge for each transaction; a bank that simplifies
online payments for small businesses?

> In
> other words, if they go broke you can get in line to get your money
> back, behind the employees, tax man and secured creditors.

Hmm - just as a matter of interest, you'd be referring to the same
banking system that left the people who'd invested in BCCI up the creek?

I'm sure "standard" banks have their uses - after all, *someone* has to
have the legal right to create money, and in current economic mysticism,
that right devolves to a lesser degree on the Treasury and to a greater
degree on the banks...

But never make the mistake of thinking that "not a bank" is a
disadvantage - go and read the terms of the contract you have with your
current bank (*especially* if you enabled online banking) and wonder
about how secure your money is there...

cheers, Rich.




> 
> -- 
> Rev Simon Rumble <simon at rumble.net>
> www.rumble.net
> Send email with subject "send key pub" for public key.
> 
>  "Man will occasionally stumble over the truth, but most
>   of the time he will pick himself up and continue on."
> - Winston Churchill
> 
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rich walker | technical person | Shadow Robot Company | rw at shadow.org.uk
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