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Paypal Savings is a bank, I believe it's Synchrony Bank. Aspiration, Wealthfront, Robinhood, etc all do the same type of thing where the run the money through an actual bank and it's FDIC insured etc. To a user, it looks no different.
Collections & Charge Offs. I had a charged off PayPal account that I recently settled in full with portfolio recovery associates LLC. I even got a letter showing settlement. This was done mid July of 2021. Today I looked at credit karma and it shows a PayPal Synchrony Bank balance . Still shows charged off but with a balance, for both Equifax ...
Synchrony Bank. PO Box 965002. Orlando, FL 32896-5002. Her Name. Her Address. Reference #. Dear Her Name: This letter is in response to your recent request to open a PayPal Credit account. Our records show that you requested to open an account on 4/10/2020.
As you said in your post the money is FDIC insured up to $250k, is stored with Synchrony bank, and appears to be the same thing as Synchrony’s HYSA which means interest is compounded daily and credited monthly. The only downside to this account that I can find is “You may only make withdrawals from PayPal Savings by transferring money to ...
In 2018, I opened a Paypal Credit account. While I had the account, Paypal Credit merged with Synchrony Bank (making Paypal/Synchrony the OC). There was a balance of around $400 I never paid off. After awhile, the account was charged off and the debt was sold to Credit Corp Solutions (CA) around March 2020.
The main gripe you will find on Synchrony is the sudden unexplained closure of all credit cards that one has with them. There are examples of this happening on strong, clean profiles where there simply appears to be no justification for it. Mine wasn't closed but limit was cut from 2k to 250.
Best. AutoModerator • 1 yr. ago. Abbreviations used in r/PayPal : NAD - Not as described. SNAD - Significantly not as described. INR - Item Not Received. UAT - Unauthorized transaction. OP - Original poster of the message. Thank you for submitting to r/PayPal, please make sure you have read the FAQ.
PayPal Credit to charge $1.99 for paper statement. This week I received a letter from them. Two changes, one (as the title says) they'll be charging $1.99 per month for paper statements if the balance is $2.50 or higher. And they're raising NSF payments to up to $41. I hope Synchrony Bank doesn't charge this crazy paper fee for all their accounts.
PayPal Credit and Synchrony Bank. First post for me! I have a situation where I opened a PayPal credit account in college, roughly 7-8 years ago. The debt ran up to about 2k before my account was closed. Living pay check to paycheck, I just could not afford to pay it. I had read that pay pal credit did not report to credit agencies so I wasn ...
CLI PayPal MasterCard Synchrony Bank. I recently got a PayPal MasterCard as a catch all 2% card. My credit score is around 750 everywhere (yes, my FICO score). I recently got a couple of other cards, none with huge limits, but enough to serve their purpose. This PayPal MasterCard has a $300 SL. Umm.