Holding a PayPal Balance. Any PayPal balance you hold represents an unsecured claim against PayPal and is not insured by the Canada Deposit Insurance Corporation (“CDIC”) or by any other provincial insurer of deposits. PayPal combines your balance with the balances of other users and invests those funds in liquid investments. PayPal owns the interest or other earnings on these investments. These pooled amounts are held separate from PayPal’s corporate funds, and PayPal will neither use these funds for its operating expenses or any other corporate purposes nor will it voluntarily make these funds available to its creditors in the event of bankruptcy. PayPal is not a bank and does not itself take deposits. You will not receive any interest on the funds held with PayPal.
Appears in 4 contracts
Samples: User Agreement, User Agreement, User Agreement
