Make 2% of your initial deposit in seconds! (Legit)

[irwin]

Ok, feel free to correct my little scheme wherever its holes may lie because I just thought up of this really quickly.

First, make sure you have a PayPal (http://www.paypal.com/) Debit Card. With the PayPal debit card, you earn 2% back instantly on every purchase you make with it.

Second, if you don't already have a FatShoe (http://www.fatshoe.com/) account, you'll need that too. Fatshoe acts as an online debit card. You add money to your account by using a credit/debit card. In this case, you'll be using your PayPal one.

So just add say... $1000 into your Fatshoe account with the PP Debit card, and you'll be $20 bucks richer, right? I figure you can make infinite money as long as you keep your PayPal account loaded.

Before you try this, I have to ask, is this even remotely legal?

[MrCodeDude]

If I put $1000 in my PayPal account, transfer it to Fatshoe, I get $20, I then transfer that money back from FatShoe to Paypal, repeat process until you got enough money, then lower your amount of money in Paypal account to your profits :) Make $100 in less than an hour? I'd figure PayPal would catch onto you sooner or later though.
-- mrcodedude

[MrBehm]

Yeah, they probably would catch on. Not sure if it's illegal though.

[TheLoneGunman]

Gee passwird...

Don't you remember what PayPal.com said about this???

"it is money laundering"

This is ILLEGAL (if you do it more than once within a reasonable interval, the attempt it to conceal the money or its source, or if the amounts come close to $10,000)

Some of the related Federal crimes are "structuring" and "check kiting" (yes, I know there are no "checks" involved)

Trust me. I have met people who have done federal time for less.

Also, PayPal only pays 1.5% rebates and they are supposed to cap at the greater of $100 or the amount you received in transactions (but I am not sure if their software is working to catch this)