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paypal and the market liquidity issues??

 
Project_Deimos

User ID: 999284
United States
11/18/2011 12:09 AM

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paypal and the market liquidity issues??
So I've had TWO recent episodes within a 7 day span where paypal has held a large sum of money for many, many more days than the normal transfer period, both on my end and the recipient's end. What made me think about how this might be tied to the recent liquidity issues is what the paypal rep told my recipient - that they had to take 3 to 5 days to convert paypal credits to cash.. WTF? This was funds from my pp account, that had already cleared by bank by a week.

I'm thinking their normal MO is floating payments using extended credit lines to make these "quick" transfers but now those lines are either lower or dried up so the "real" funds ACTUALLY need to transfer, instead of using some credit buffer. I dunno - I'm an engineer no bean counter; that's my weird event for the week.


fckd
"There are known knowns. There are things we know we know. We also know there are known unknowns. That is to say, we know there are some things we do not know. But there are also unknown unknowns, the ones we don't know we don't know."
Anonymous Coward
User ID: 5408625
United States
11/18/2011 12:24 AM
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Re: paypal and the market liquidity issues??
Yes, something's up. I've heard from several people that all of a sudden Paypal is informing them that their funds could be held up to 21 days for their ebay sales.
Project_Deimos (OP)

User ID: 999284
United States
11/18/2011 12:29 AM

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Re: paypal and the market liquidity issues??
damn...I wasn't even really expecting that kind of info in return, this is really troubling.

Right now my recipient is being told Tues, when funds where sent yesterday. This has got to be a window into what is happening in the greater markets/credit world.
"There are known knowns. There are things we know we know. We also know there are known unknowns. That is to say, we know there are some things we do not know. But there are also unknown unknowns, the ones we don't know we don't know."
Project_Deimos (OP)

User ID: 999284
United States
11/18/2011 12:51 AM

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Re: paypal and the market liquidity issues??
I think PP is floating "real" cash funds and has run out of short term credit. Musical chairs anyone?

I'll keep an eye on this thread so please contribute any additional info!
"There are known knowns. There are things we know we know. We also know there are known unknowns. That is to say, we know there are some things we do not know. But there are also unknown unknowns, the ones we don't know we don't know."
Anonymous Coward
User ID: 770423
United States
11/18/2011 12:52 AM
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Re: paypal and the market liquidity issues??
Damn,and I was thinking Paypal might be a safe place to park funds, hmmm.
Project_Deimos (OP)

User ID: 999284
United States
11/18/2011 11:23 AM

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Re: paypal and the market liquidity issues??
shameless morning bump
"There are known knowns. There are things we know we know. We also know there are known unknowns. That is to say, we know there are some things we do not know. But there are also unknown unknowns, the ones we don't know we don't know."

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