It is likely to thwart terrorism

I hadn't seen this posted yet but the holding of the money is likely mandated by the U.S. government to thwart the anonymous donations to suspicious groups posing as charities or what have you.

Not saying I agree or disagree but it is likely a factor. Now, if they are not paying interest on the 6 months holding time then they will likely end up in a class-action lawsuit. It has happened to them in the past and they just don't seem to learn.

I don't care for PayPal, either. But most banks are just as bad at ripping off customers (think selective processing of checks to generate overdrafts, for instance). The reforms of the current administration will hopefully curbs some of that stuff.

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Received on 2010-09-17 16:23:05 CEST