There isn't really any reason to do so as long as your checking accounts are insulated, but some people like the idea that if they get in a squabble with a financial institution over a sticky matter, it's easier to shut that account and move on without having to move _all_ accounts. I have fired banks severa times over the years for what I considered unscrupulous practices, and it's just tedious to reset all the accounts elsewhere.
Michael On Dec 2, 2006, at 7:46 AM, David Savage wrote: > Why set up an account with a completely different bank? Do you think > the funds could be sucked out of your primary accounts? > > I'd recommend setting up a separate account with low fees/minimum > balance amount as a temporary location & transfer fund's in and out > as, come in or need to go out. > > To make, or request, a payment, you log in to your Pay Pal account and > send the person an email through the payment (or funds request) > section and the amount you wish to send, or receive. > > Personally I'd prefer to do without Paypal, and use direct bank > transfers, but people are more paranoid about them than they are about > PayPal, and the banks sting you with international transaction fees, > about AU$20 each, local.direct deposits are free though. > > Dave > > On 12/2/06, David J Brooks <[EMAIL PROTECTED]> wrote: >> Good idea. We have a new bank in town now, so i could open an account >> with them. >> >> I assume you are given somesort of account number or id from paypal, >> so people can make a payment. >> >> Is that correct. >> >> Dave >> >> Quoting Amita Guha <[EMAIL PROTECTED]>: >> >>> On 12/1/06, Michael Chan <[EMAIL PROTECTED]> wrote: >>>> For the (realistically) cautious, I offer this advice: >>>> >>>> Set up a secondary (or tertiary/quadrant) account to your principle >>>> account for online transactions for vendors such as PayPal that >>>> really push a checking authorization. Limit the funds available to >>>> what you are trying to move, with a little wiggle. >>> >>> That's exactly what we did - we opened an account with a different >>> bank from the bank where we keep our "real" money. We started the >>> account with a small amount of money and linked it to Paypal. It's >>> worked out fine so far. >>> >>> Amita > > -- > PDML Pentax-Discuss Mail List > [email protected] > http://pdml.net/mailman/listinfo/pdml_pdml.net -- PDML Pentax-Discuss Mail List [email protected] http://pdml.net/mailman/listinfo/pdml_pdml.net
