Don't Use PayPal With Autosurfs or Ponzi HYIPs at Nobullshit Network Forum

**sharonsopinion** · 03-18-2007, 11:08 PM

ALL Autosurfs are banned from PayPal, as well as MLM, matricies and randomizers. Most HYIPs are banned, too.

If a site offers PayPal as an option, ask if they have had their business plan approved by PayPal. If they don't answer, skirt the issue or you think they are lying, contact PayPal and ask!

If the business is a real opportunity, not built on how many members join/spend, then chances are that PayPal approved them. If they even slightly resemble a ponzi or anything else that is illegal online in the US or Canada, then they will freeze the program's account as soon as they find them (and they WILL find them!)

One other hint: Don't move amounts greater than $5K either in or out of PayPal. (Some use $3K as a guideline.) It's better to break up the spends into smaller amounts. PayPal flags all amounts over a certain dollar limit and investigates them. While the spend/receipt may be completely legitimate, it's a pain to get a phone call from PayPal. (On the other hand, I want a call if someone is trying to steal that amount from my PayPal!)

Personally, I absolutely love PayPal, just not in the money-making opportunity industry. I have a couple of accounts, approved by PayPal, and I use one of them as my savings account. They pay better dividends than my bank and offline money market accounts. No, I don't worry about them freezing my account, because I refuse to put it at risk.

JMO - Sharon

**opie999** · 03-18-2007, 11:40 PM

I had no idea they paid interest on accnts. What's the ROI? What's the minimum you have to keep deposited? Is there a lock-in time period like a CD? (Heheh, sounds like I'm doing DD on PayPal)

I have an account I opened years ago but just never used it.

**sharonsopinion** · 03-19-2007, 02:06 AM

HI Opie,

I started a new thread to discuss http://www.nobsnetwork.net/paypal/29...t.html#post421

JMO,
Sharon

Simon · 04-05-2007, 11:40 AM

As a general rule, I think paypal is great. I also think it is very sensible of them to ban anything to do with online mony-making HYIPs. If I was in their position, I wouldn't want to get involved, I'd leave that to e-gold!

The one thing that does bug me a little, is a few rumours going around about companies with (even 1 tier) referral programs that pay via paypal being subject to stricter conditions. They are still mainly aimed at autosurf type setups, but could still spill over into other more legitimate businesses.

**sharonsopinion** · 04-05-2007, 05:35 PM

If they are implementing stricter conditions for sites with referrals/affiliate commissions, then I speculate that it is to weed out potential scams. Just like when we use selection criteria for where to spend our money, they are doing the same thing.

However, no selection criteria is ever 100%. It's sole purpose is to weed out the likelihood of losing money. There will always be sites that aren't good, slip through the cracks and some OK sites are denied.

There are a couple of programs that PayPal has investigated and approved. The difficult thing for us to determine is if PayPal is offered, is it approved or are then just trying to get away with it. If you're ever in doubt, email PayPal and ask them if the site is approved. The same goes for any other payment processor.

JMO,
Sharon

CalvinT · 04-24-2007, 03:03 AM

Quote:

Originally Posted by sharonsopinion

ALL Autosurfs are banned from PayPal, as well as MLM, matricies and randomizers. Most HYIPs are banned, too.

Personally, I absolutely love PayPal, just not in the money-making opportunity industry. I have a couple of accounts, approved by PayPal, and I use one of them as my savings account. They pay better dividends than my bank and offline money market accounts. No, I don't worry about them freezing my account, because I refuse to put it at risk.

JMO - Sharon

I don't know if your talking about the PayPal money-market account itself a different attached account, I also use PayPal alot but their money market is not FDIC insured

Note: Investments in the PayPal Money Market Fund are not insured by the FDIC. Past performance does not guarantee future results. Although the fund strives to maintain the value of your investment at $1.00 USD per share, it is possible to lose money by investing in the fund.

Myself, I have my savings in an emigrantdirect account that is FDIC insured and returns 5.05% APY. And is easily tied with any existing bank account and fully accesible from the web.

Just food for thought