Tuesday, 10 September 2013

Ding dong the witch is dead.

To borrow a phrase: I've finally closed my paypal account.

Paypal seemed great in the beginning, really convenient, helpful on both sides. Then fees started increasing and all the regulatory stuff came in, and finally I exceeded a total of £1600 or so passing through the account and requests for information became REALLY intrusive.

So I ignored it.

But tonight I received an email advising me about some changes to Ts & Cs, and following these through I found it was possible to close my account. Not, of course, until I had entered additional personal information to remove the limitation that had been placed on it, but once that was done and half a dozen "Do you really want to close your account?" windows and "Paypal is really useful - are you SURE you want to close your account" windows it finally accepted that I did and, in theory, closed the account.

Beware zombie PP accounts!

I understand the need for banks to track people, but if I have the choice between one bank and another then I'll pick the one in the nearest high street every time, because there are real people I can go and talk with in there. Online banking is wonderfully convenient, and as far as I'm concerned, utterly insecure and dangerous. The last crisis demonstrated how shonky and insecure the traditional banks were too, but give me a physical presence and long track record of survival every time over 'virtual' arrangement.

This reminds me of another phrase: In God we trust, all others pay cash.

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