Venmo or Paypal or......

[masraum]

I've never used Venmo.

I've only ever used Paypal to send money (eBay mostly), never accept it.

For sending and receiving money between banks, the way to go (IMO) is Zelle. At least, if your bank/CU supports it (I think many/most do).

I'm not aware of any fees/costs or anything from either end (so the banks are paying?). It's basically just an electronic transfer.

[Rick Lee]

Originally Posted by wdfifteen

DO NOT ever use PayPal’s “buy now, pay later” scheme. Once they get their hooks in you it’s almost impossible to cancel your account.

Not true. I've used it countless times, both for business and personal. I've never paid a dime in interest or late fees. Many times I was buying something and needed to sell a few things to pay for it, but it was such a smoking deal, I had to pounce before I sold whatever I was selling. It's interest free if you pay it off within six mos, which I always have.

I used it for buying leads when I started in the insurance biz. At that time, dropping $600/week for leads was painful before any commissions were coming in. But the money started flowing in time to knock it all out before interest started accruing.

[wdfifteen]

Originally Posted by Rick Lee

Not true. I've used it countless times, both for business and personal. I've never paid a dime in interest or late fees. Many times I was buying something and needed to sell a few things to pay for it, but it was such a smoking deal, I had to pounce before I sold whatever I was selling. It's interest free if you pay it off within six mos, which I always have.

I used it for buying leads when I started in the insurance biz. At that time, dropping $600/week for leads was painful before any commissions were coming in. But the money started flowing in time to knock it all out before interest started accruing.

Did you ever try to cancel your account?

[Rick Lee]

I don't think so. I usually don't owe anything on it, so it just sits dormant. If a charge were to hit it, I'd get an email about it.

I had to pounce on a very expensive amp a month ago and had three other amps I was planning to get around to someday listing for sale. I got the new amp, started listing the others for sale and had two sold within two weeks. So I'll pay it off in two weeks when the first payment is due. I use other people's money when I can, as long as it's free.

[wdfifteen]

Originally Posted by Rick Lee

I don't think so.

My point is that it is virtually impossible to cancel the account. If you haven’t tried, then your “not so” has no basis in experience.

[Rick Lee]

Ok. If your PayPal account is linked to your credit card or checking account, you can "de-link" those, which would be the equivalent of canceling the account. Anything else you get from PP would then be the equivalent of one of those $100k checks you get in the mail, which if you endorse it, it takes out a loan for you.

[wdfifteen]

Originally Posted by Rick Lee

Ok. If your PayPal account is linked to your credit card or checking account, you can "de-link" those, which would be the equivalent of canceling the account. Anything else you get from PP would then be the equivalent of one of those $100k checks you get in the mail, which if you endorse it, it takes out a loan for you.

I guess you know best.

But I’ve been there and done that, and I’m not stupid.

[Rick Lee]

Ok, so what do you consider closed?

I canceled a credit card a month ago because they kept charging me interest when I was on autopay and never carried a balance. They'd always credit back the interest, but it pissed me off, so I canceled. They didn't put up a fight on the phone, said account was closed. This was a month ago. I got a bunch of "convenience checks" and a balance transfer offer in the mail from them two days ago. I logged into my account today and it's still open. $0 balance, card is shredded. What else can I do?

[p911dad]

i use PayPal, safe as any mode and has the advantage of being accepted by a lot of merchants. I have never had a problem, but admittedly never use it for "large" transactions.

[A930Rocket]

I have Venmo and Zelle, but don’t use either one very often

I closed my PayPal account years ago, because I didn’t use it. I don’t recall any difficulties closing down the account.

[astrochex]

We have cancelled our PayPal account and very rarely use Zelle or Venmo.