blondestranger
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posted on January 19, 2001 01:09:23 AM
I got the invitation this evening.
Whose gonna go for it?
I think it makes a ton of sense...
no more bank transfers, instant access to my money, I am pretty excited to have it now, without the wait on transferring funds, especially during the weekends.. when the bulk of payments come thru.
X was a bust..as we all know. What a nightmare that turned out to be. I was never sure if the card
would cover whatever I was buying, I hope pp's debit card doesnt have those same troubles.
Enid
deja deja deja vu believe it and it will come true!
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bobbysoxer
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posted on January 19, 2001 01:40:37 AM
Personally, I am not interested.
not bobbysoxer on eBay
[email protected]
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uaru
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posted on January 19, 2001 01:55:15 AM
I got the invitation this evening also. Yes, I'm going for it. I can see several uses for the ATM/Debit card.
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libbyparsons
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posted on January 19, 2001 05:04:43 AM
I haven't received information about this. Can someone give me the details please?
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jfpnatl
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posted on January 19, 2001 05:09:33 AM
Dear PayPal Member,
Congratulations! We're happy to notify you that you're one of the first PayPal members eligible to receive the new PayPal Debit Card.
With the PayPal Debit Card, you'll be able to access the money in your PayPal account anytime, anywhere. The PayPal Debit Card gives you the power to:
Withdraw cash directly from your PayPal account at ATMs.
Make purchases wherever MasterCard™ is accepted worldwide.
Use an ATM to view your PayPal account balance.
PayPal already gives you the power of the world's premier online payment system, but now you'll be able to make offline payments, too! Whether you use it to buy gas, to pay for your groceries, or to pick up some movie tickets, the PayPal Debit Card means the funds in your account will have greater liquidity even as they earn the high current yield of 5.2% from our Money Market Fund.
Plus, as part of our special offer to select Premier and Business members, obtaining the PayPal Debit Card is free of charge. There are no monthly fees for having the Debit Card, and if you use it to make at least one purchase in the first 90 days following activation we'll waive the issuance fee.* It's just our way of saying "thank you" for being a loyal customer and helping to make PayPal the #1 way to send and receive money online.
Requesting your PayPal Debit Card is fast and easy - you can do it all online. Just log in to your PayPal account now and click on the Debit Card link you'll find on the "Overview" page. Then follow the step-by-step instructions. If approved, you'll receive your PayPal Debit Card in the mail within the next 1-2 weeks.
Be sure to take advantage of your eligibility to make purchases and withdraw cash from your PayPal account. Login to your PayPal account and request the PayPal Debit Card today!
Sincerely,
The PayPal Team
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snowydays
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posted on January 19, 2001 05:13:03 AM
Apparently, not everyone is being offered this.
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tomwiii
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posted on January 19, 2001 05:13:13 AM
MasterCard Debit Card but PP is having TROUBLE now processing MasterCard transactions!!!???
Ohhhhhhh...Good move!
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katiyana
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posted on January 19, 2001 07:35:44 AM
Mastercard international is where the problems are I think.
I'm a premier account user, but haven't received this offer yet either... 8(
Also, the MM is down to 5% return...
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yisgood
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posted on January 19, 2001 07:39:16 AM
What happens if your PP account gets restricted and you try to use the debit card at a store? Did you see that commercial where the waiter announces "Mr. Smith, your credit card is no good!"?
http://www.ygoodman.com
[email protected]
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sharkbaby
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posted on January 19, 2001 07:47:29 AM
I received the invitation and it looks interesting. I have never had any problems with paypal, nor have any of my customers or friends. Am considering it but will read all the terms very carefully first. My biggest concern is that I NEVER give out my SS# and am sure that I will have to do that to get the card...
In further investigation I found that you have to do the money market thing to get the card. After reading the prospectus and all the info therein, I am very concerned.
Anyone have an educated opinion as to the viability of the money market that they offer??
[ edited by sharkbaby on Jan 19, 2001 09:56 AM ]
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libbyparsons
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posted on January 19, 2001 07:48:24 AM
I'm a verified Premier Account Member as well and I've gotten nothing thus far. I keep checking back on my account page but there is nothing there.
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Bluee
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posted on January 19, 2001 08:47:44 AM
I wasn't invited either, at just like their new "PayPal Store" feature (coming soon), it requires you have a money market fund with them (SSN). In the e-mail they have sent, I noticed that they mentioned a 5.2 percent return, just like the money market fund. I believe that you have to of supplied them with your SSN prior to of received that invitation. Could somebody clarify that?
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gravid
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posted on January 19, 2001 08:48:09 AM
That seems to assume you are using the money market. Perhaps it is offered first to those who use the money market fund. I do not.
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paypaldamon
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posted on January 19, 2001 09:06:57 AM
Hi everyone,
Thank you for your patience as this product came to fruition.
This product, as I had mentioned when past inquiries were made, is going to begin with a slow roll-out and we plan on extending more offers next month.
Please send an email to [email protected] below if you are interested in applying for one.
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sharkbaby
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posted on January 19, 2001 09:24:11 AM
I just went to the sign up screen to check it out and it is mandatory that you sign up for the money market thing in order to sign up for the card...hmmm...
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magazine_guy
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posted on January 19, 2001 09:51:44 AM
SS # is required.
Signing up for the Money Market fund is required.
You must agree that you've read an explanation that your money market funds are not insured (by PayPal or the government), and that your investment is not guaranteed, and that you may lose money.
Ummmmm, I'll pass.
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sharkbaby
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posted on January 19, 2001 09:59:49 AM
I think I agree with magazine_guy on this one.
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Pantheus
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posted on January 19, 2001 01:07:12 PM
While the comments above all seem to be true, the Debit card does seem to me to be a much faster way to get the funds OUT of PayPal, and at my convienence not theirs.
Since I'm already a Premier member, verified and signed up for the Money Market, (although funds seldom sit there long enough to gather anything including dust), seems like a fast way to get the funds.
Ken
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jadejim
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posted on January 19, 2001 02:14:18 PM
Went to apply & first thing they wan is SSN! NO NO NO!!!
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rnrgroup
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posted on January 19, 2001 04:15:15 PM
Mastercard register problem IS an international, not US problem, and PayPal says it should be fixed by the beginning of Feb. PayPal and the Money Market accounts are NOT FDIC insured - and PayPal says " Please note that your investments in the Fund are not deposits of any bank or financial institution, and are not insured by the Federal Deposit Insurance Corporation ("FDIC" or any other government agency.
Because the Fund is subject to investment risks, you may lose money if you invest in the Fund"
But as Pantheus says - it is a fast way to get your money OUT of your PayPal account- a good thing. You can always sign up for an EIN for your business if you don't want to use your personal SSN. As always we strongly recommend NO money should be left in a PayPal account that you can't afford to lose. And your PayPal account should be tied to an account - online or off, that is completely independent of all your analog world bank/financial accounts. -Rosalinda
TAGnotes - daily email synopsis about the Online Auction Industry
http://www.topica.com/lists/tagnotes
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musicman1313
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posted on January 19, 2001 08:41:27 PM
Just a note of caution about using Paypal's new debit/atm card. There is a $1 fee from Paypal everytime
you use the card at an ATM to make a witdrawal. This does not include any additional fees from the
ATM owner. Here is their words:
"PayPal charges $1 per ATM withdrawal. This fee is in
addition to any fee imposed by the ATM service
provider."
This is is the "small print" on their site and they keep it very well hidden. You have to scroll down on the
little console screen that pops up to see it. I do not believe that they mention this in the promotional
email that they've sent out about the card.
Also, it looks as though you MUST sign up for their "Money Market" account before you can receive one
of these debit cards.
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wbbell
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posted on January 19, 2001 11:37:54 PM
Regarding the Money Market Mutual Fund safety - ever since banks were allowed to offer stock-like products, they have been required to state whether the product is FDIC insured or not.
A money market mutual fund is a securities-based product, and there is a chance that it will lose money. Every money market account has disclaimers like this. But the actual chance of losing money in a Money Market mutual fund is very, very small. For all intents and purposes it is a savings account. We have a large chunk of $ in a MMF at T. Rowe Price, which is also not insured, and I sleep quite safely at night.
[ edited by wbbell on Jan 19, 2001 11:38 PM ]
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tomwiii
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posted on January 19, 2001 11:44:13 PM
I've read somewhere that NO MMF has EVER dropped below $1.00/share value in the entire hx of MMF's! They invest in bank paper & other such extremely safe (and low-yielding) vehicles.
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bemused
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posted on January 22, 2001 10:20:20 PM
paypaldamon
Took your advise and sent a request to [email protected] and was informed that I was confused about the selection process and that I should start leaving all my earnings in my account until I am tapped as one of the chosen elite who can apply.
Since my business model relies on the business supporting itself it seems pretty silly to have all my earnings tied up in a form that is useless in the real world. I can't pay my bills through email. The point I'm making is that the only way I'm leaving money in that account is if I have a debit card to make purchases with.
Since I foolishly signed up for the Money Market Account solely for the purpose of making this fruitless request I want to know if there is anyway to withdraw from the Money Market Account since it only benefits PayPal and not me.
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taz8057
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posted on January 22, 2001 10:26:10 PM
I guess this is an attempt by PayPal to get people to leave money in their PayPal account. How many people are going to leave an large amount of money in their account.
The debit card would be nice though (to withdraw the funds the same day instead of waiting 2-3 days).
How do you get one?
-Trey
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