[David Blinder]

Just opened my Mastercard bill (issued by MBNA) and noticed in the fine print that as of 7/1/01, they will start treating person-to-person money transfers as a cash advance. My understanding is that this will apply to Paypal transactions so you will be charged the cash advance interest rate and fees from date of transaction with no grace period. Since I know that many of us use this service to offer credit card services to clients and to pay for things, I figured ya'll might be interested in this development.

 

[Dane Burns]

The trick is to keep a PayPal balance and not have it come directly off the card. You also have several types "payments" when you transfer money, "quasi cash", "services", "mechandise". You need to be care how you list the transfer.

 

[gyp_c2]

Yeah...just use your own money and don't take any credit card advances. Basically what Dane says...Saves lots of hassle...:wink:

Thanks for the heads up on it though, I think they have enough without usin' mine!

...Geez...wish I had invented insurance!

:wink:

 

[FortyFive]

If it becomes to complicated I would use a check! I to am with MBNA and use PayPal very little. To keep a balance would mean a transfer from checking account to PayPal I believe. Currently I am not setup for that! When I discussed this with MBNA they told me if the transfer were for gambling on the internet there would be a charge, but not for buying a product or service.