Your money is not safe in the unregulated Paypal and Venmo. Get your money out of there today. At a minumum, Dave will walk you through how to regularly sweep your money from Paypal and Venmo before you lose it all.

𝐃𝐨𝐧’𝐭 𝐬𝐭𝐨𝐫𝐞 𝐜𝐚𝐬𝐡 𝐢𝐧 𝐕𝐞𝐧𝐦𝐨 𝐚𝐧𝐝 𝐏𝐚𝐲𝐏𝐚𝐥, 𝐔𝐒 𝐫𝐞𝐠𝐮𝐥𝐚𝐭𝐨𝐫 𝐰𝐚𝐫𝐧𝐬

Payment apps like PayPal and Venmo might be convenient, but they’re not banks — and a federal financial services watchdog is worried that too many consumers are treating them as such.

The Consumer Financial Protection Bureau wants people to know they don’t have the same protections as a bank or credit union.

CFPB Director Rohit Chopra warned in a Thursday statement that payment services like PayPal and Venmo “are increasingly used as substitutes for a traditional bank or credit union account but lack the same protections to ensure that funds are safe.”

There are billions of dollars at risk for consumers as a result of payment apps encouraging customers to store funds rather than just make transactions, said the CFPB in its report.

Money you store in Paypal and Venmo is NOT protected by the FDIC. They don't follow the same rules as banks do, and they are not regulated by the FDIC.

Remember the crypto meltdown where people lost their money? Same issue. Same vulnerability. Same risk.

We'll take you inside the risks of doing business with Paypal and Venmo on this edition of the Billion Dollar Seller podcast with David Happe.

Leave us a message ! https://podcasters.spotify.com/pod/show/david-happe/message

Today's episode was sponsored by KickEEZ Products. Made in America. https://kickeezproducts.com/

And the specific product Dave talks about in today's episode is this one :

https://www.amazon.com/Kick-EEZ-Slip-over-Recoil-system-MEDIUM/dp/B00162NU5I?ref_=ast_sto_dp