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by Ekaros 1181 days ago
PayPal and it's ilk are worse. At least with regular banks there is regulation against this sort of stuff. That is they can't just confiscate the money for long periods unless there is some external decision.

PayPal and the others like it are not banks, as such they play by different rules worse for consumers. What is kinda horrifying is that nothing has been done about this despite PayPal doing exactly these things for entire history seemingly it has existed.

2 comments

PayPal is only not-a-bank in the US. They are an actual bank in EU.
The horrifying part is the bank's incompetency. In India you can transfer bank account to bank account immediately even without UPI.