PayPal wants you to get your money faster. The online payments company said Tuesday it will start rolling out Instant Transfer to bank accounts in the US in the coming week. The feature lets you quickly move money from your PayPal account to your bank account instead of using the standard transfer function, which usually takes one business day. The new feature comes via an expanded partnership with JP Morgan Chase, which has given PayPal access to a real-time payment network used by major banks.PayPal said getting faster access to your money can be important and was a motivating factor behind the creation of Instant Transfer. It launched a similar feature, Instant Transfer to debit cards, in 2017. "Faster access to your money can also mean being able to cover unexpected expenses and emergencies, staying on top of bills and avoiding late fees," Bill Ready, PayPal's chief operating officer, said in a blog post Tuesday. Instant Transfers usually take just a few minutes … [Read more...] about PayPal now lets you instantly transfer money to bank accounts
Paypal take money from bank account
A new Android trojan hidden inside a battery optimization app can steal money from users' PayPal accounts, ESET has revealed today, even from those protected by two-factor authentication. More security news Android adware tricks ad networks into thinking it's an iPhone to make more money Why is Russia so good at getting women into technology? Malicious sites abuse 11-year-old Firefox bug that Mozilla failed to fix Senator blasts FTC for failing to crack down on Google's ad fraud problems Fortunately, the malicious app, named Optimization Battery, is currently available through third-party app stores only, and not through the official Play Store, meaning very few people have had phones infected by this threat until now.Despite this, this app should be considered incredibly dangerous. The reasons is that it features an automated system that initiates PayPal money transfers right from under the user's nose, without giving the victim a chance to stop the illicit transaction.This … [Read more...] about Android malware steals money from PayPal accounts while users watch helpless
Ever since Venmo rolled out its instant transfer feature, which moves money from your Venmo balance to a personal debit card within minutes, the cost of this speedy transfer has been 25 cents. But soon that will be going up. Venmo today emailed users about changes to its user agreement. One of those updates will see the fee for instant transfers switch from 25 cents to 1 percent of the transfer amount (with the minimum still being 25 cents). The change is also acknowledged on this instant transfers FAQ page. It’s not much, but the upped fee still means that the PayPal-owned company will be deducting a bigger cut if you’re moving a large amount of money over to your bank account. Venmo notes that its traditional bank transfer option remains available and is still free. That method only takes a business day or two to show up. Remember that Venmo also now offers a debit card for spending your balance directly instead of having to relocate those funds elsewhere first. … [Read more...] about Venmo is increasing the fee for instant transfers to your bank account
For many, their bank accounts are at the heart of their financial responsibilities. Identity theft, card cloners, and phishing campaigns are becoming increasingly common as ways threat actors attempt to crack into your financial reserves, whether it be through impersonating you to your bank, cloning a debit card at an ATM, or luring you to input your PayPal details into a fraudulent website. More security news Containers or virtual machines: Which is more secure? The answer will surprise you Justice Dept. indicts 12 Russian spies over 2016 DNC hack Russia: We want volunteers to help us censor the internet Tech giants, civil liberties coalition urges Congress to pass email privacy law Thousands of Mega logins dumped online, exposing user files They may mean the world to us and cause devestation when fraud takes place, but for traders in the Dark Web, your ID and financial accounts are just assets to sell. However, they may not be worth as much as you may think. On … [Read more...] about The Dark Web: How much is your bank account worth?
Online payment company PayPal is trying to test the dismal initial public offering waters, and some analysts are speculating that its filing may serve as a tool to get its finances out in front of potential acquirers, including rival eBay.These analysts, none of whom want to be named, are questioning the motives behind the PayPal IPO since it looks like a throwback from the dot-com bubble in 1999. PayPal's service helps small businesses or individuals handle payments. A payer deposits money in a PayPal account from a credit card, bank account or existing PayPal account. The receiver can leave the money in the account, where it earns interest at money-market rates. This person can also transfer funds to a separate bank or a PayPal bank card, or PayPal can cut him or her a check.PayPal's market is swarming with competitors, including the likes of eBay, Yahoo and Citigroup. The company has never turned a profit, and doesn't foresee black ink anywhere in the future. And like those … [Read more...] about PayPal faces long IPO odds