[BetterRed]

Originally Posted by HarryT

Guess that depends where you live. In the EU, PayPal has been a Luxembourg-based bank since July 2007, is subject to the same regulatory authorities as all other banks, and your deposit with them is protected by law, just like any other bank.

EU and Banking... hmmm... why am I LMAO. Because I'm thinking of... Dexia, Northern Rock, RBS, IKB, Hypo Alpe-Adria, Lloyds, HBOS, Allied Irish... why even Her Majesty's bank, Coutts, got a bailout via Lloyds. Then there's LIBOR, laundering of drug money etc by UBS, Barclays etc.

EU Banking regulations are not uniform across member states, not even with the Eurozone, and many (most?) EU banks are not conformant with Basel III.

I suspect Paypal's presence in Luxembourg has more to do with that countries Tax regulations than its Banking regulations see ==>> Luxembourg: a tax haven by any other name?

And who's the head-honcho of the EU Commission, the former PM of Luxembourg, Jean-Claude Junker. The same J-C J who oversaw the plundering of bank depositor funds in Cyprus; but only after the Russian oligarchs had moved their loot to Casino City On Thames.

Ontopic - I wish Kovid would accept regular payments, calibre is probably the only item in my s/w inventory that I'd enjoying having on a SAAS basis.

BR