Safes For Every Situation

100 Safest Banks

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I need help with EBay!!?

Hello, I need to sell my stuff on ebay but I was wondering. Is Paypal 100% safe to use? I have my own personal banking account(minor) and it holds $1,200 in it. I want to sell my stuff off of ebay but paypal is what kills me. Is PayPal safe with banking accounts(or whatever) and should a kid(13 year old kid) should use it?

Unfortunately for you, you must be 18 years old to sign up to ebay or at least the last time I checked. I tried to sign on to ebay when I was 17 and I was told I need to be 18 minimum. An adult relative or friend of yours needs to sign up to both ebay and paypal for you or on their own names. Selling on ebay for the first times as a new seller will get you low to very low prices for your items as you will be a newcomer, people will not know anythign about you. When I first started selling items I sold an item that would of been $50 or so for just over 30 and a $350 item which I still remember for just over $200. You also run the risk of people trying to defraud you. If a buyer that has 5000 feedbacks complains that you only sent him or her an empty box and they pay with a credit card through paypal ebay/paypal will believe them over you and you may in the worst case scenario be out of money and your things. This is the worst case scenario.
To summarize selling on ebay for the first few times is a gamble and you need to decide on that depending on how much your items are worth.

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Less Risk and More Savings at Canadian Banks

Canadian banks may be the ones benefiting from the savings safety net many people have put their money into. A growing trend has seen Canadians putting their money into checking and saving accounts rather than high-risk investments. Banks have reported a 20 percent increase in the last year, which is up considerably from the normal 3 or 5 percent they saw the year before.

Financial services consultant David McVay explains, “Canadians are more conservative than they were in 2007, adding that “more consumers are paying off debt, opening RRSPs and tax-free savings accounts than they were a year ago. We’re seeing a shift from stock investing into keeping more money in savings accounts because of the financial crisis,” he said.

“The banks are marketing to the uncertainty that Canadians have about their savings and retirement plans caused by the financial crisis,” McVay said. This comes as banks see many baby boomers putting their money in safer places after declining stocks had a large impact on their retirement savings. Another equivalent loss could see them possibly working for another 10 years.

The recent 20 percent increase in the banks checking and saving accounts will add up to about $100 billion in business as banks can easily make more money from consumers with savings accounts instead of customers who pile their cash into stocks and bonds.

A recent Scotiabank survey done by Harris / Decima, found that almost one-third of Canadians do not have any savings accounts even though 94 percent of those surveyed said they feel better having a saving safety net. Gillian Riley, Scotiabank senior vice-president of retail deposits, payment and lending noted, “We did have a tough period in the last few years and I think now is a great time to really focus on this and get people thinking about how they can save. Over the last year we certainly have seen some movement towards savings as a flight to safety,” Riley added.

It was also found that 55 percent of those surveyed said they do save money on a regular basis but yet, one-in-five Canadians confess they do not have any savings at all. It was also noted that the debt to income ratio has risen dramatically and is currently around the 147 percent mark. That means for every dollar a person makes, they owe $1.47. These numbers are proof that it’s important to save more than we did before the recession. Being prepared for the future is always the safest bet.

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