Benefits of Linking Your Bank Account to Paypal

Discussion in Bank Accounts started by vida_llevares • Jan 27, 2013.

  1. yossup

    yossupMember

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    Well if you ever want to translate your paypal earnings to real, cold hard cash, then yes you'll need to connect it to a bank account. There's no other way to take out money from your pp account so that's what you'll need to do. Not enough places accept paypal so really, you're gonna need to do it eventually.
     
  2. mikelouis

    mikelouisActive Member

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    It is important to link your bank account in order to withdraw your money from the PayPal account. If you can get their PayPal credit card then you do not need to link your bank account. Also with the card you can simply withdraw the money instantly to the card and spend it.
     
  3. 7zer0z

    7zer0zBanned

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    I have linked my bank account to my Paypal so I could get my Paypal verified. I also really like that I have it linked to my bank account because I can transfer money from Paypal to my bank and basically use it as cash.
     
  4. Ruth B.

    Ruth B.Active Member

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    Yes, as others have said it's the only way you can get money from Paypal into your bank account. And also like others, I do and I have not ever had any problems either. In fact, it's great because the vender or sellers or companies, etc don't have access to any of your info! I love that.
     
  5. Tiara Murphy

    Tiara MurphyNew Member

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    I have my paypal linked to my account since I do a lot of business through them. I've never had an issue and they've actually helped me out in instances where I didn't receive my product that I requested. I prefer this method so that if I am shopping online for something or using an account to pay bills that accepts paypal, I don't need to dig for my debit card or anything. I can just plug in my paypal info and it comes right out of my account.
     
  6. Sly14Cat

    Sly14CatActive Member

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    Is it advisable?
    I don't see the problem as long as you use a good password, your money is safe. I've had PayPal (with my debit card connected) for at least a few years, and I haven't had any troubles.
    Can you make purchases without it?
    Yes you can, although it's hard to get money in it without any cards attached, and you'll usually want to attach just one so your account can get verified. Otherwise, no you can still make purchases without a card attached.
     
  7. Aurora

    AuroraMember

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    My PayPal account is linked to my checking account. Therefore, my PayPal account is verified and I can withdraw cash when I am in need. It is very convenient to move my money between those two accounts. The only disadvantage is that the exchange rate act against me. I suffer a lot when my PayPal money is converted into my local currency.
     
  8. sidney

    sidneyWell-Known Member

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    You have a maximum send and receive amount if you have an unverified account, so when you reach that amount, you will be required to verify your Paypal account, because they will eventually limit it and you can't make any transactions until you verify it, so you really must verify it sooner than later to avoid any hassles.
     
  9. Penny

    PennyActive Member

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    You do not want to leave any significant amount of money in your paypal account. So either spend it right away or transfer it to your bank. Paypal is super convenient, but plenty of people have had their accounts with paypal frozen for unclear reasons with very little right of appeal. So don't leave significant amounts of money vulnerable to that.
     
  10. xTinx

    xTinxWell-Known Member

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    Others are of a different opinion but I'd rather you not link your bank account to PayPal. Well you can link debit and credit cards but as far as bank accounts are concerned, you can just directly transfer any amount from PayPal to your local account without any charge unless you withdraw an amount lesser than $200. Linking debit and credit cards is a very taxing process and at times, it's hard to retrieve the code from your account. You have to ask your bank to give you that code. They also deduct around $3.
     
  11. Denis Hard

    Denis HardWell-Known Member

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    If you are afraid a hacker could access your Paypal account and spend your money then there's no need to link your bank account. Before verifying your account there are limits on the amount of money you can receive or withdraw from your Paypal account. But to lift them limits you could use a credit/debit card for verification and afterwards, if you want to, you can "unlink" your account.
     
  12. GemmaRowlands

    GemmaRowlandsActive Member

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    I like to have mine linked to my bank account, because it means that I am able to get the money out that I have earned online, which I really like to do. I often like to buy something specific with my online earnings just so that I know I have something to show for all of the hard work that I put into it, and linking my PayPal account allows me to do this. Also, in order to prove that the account belongs to you, you get two small deposits made that you have to confirm the amount of, and that is just free money which is worth grabbing hold of with both hands!
     
  13. Sue

    SueActive Member

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    I have my PayPal account linked to my bank account and have never had any problems. It's convenient and easy to use.
     
  14. Corzhens

    CorzhensWell-Known Member

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    In my sojourn in online sites that pay, I was able to earn a substantial amount worthy of withdrawing. All my earnings are paid to my Paypal account which is verified by my credit card. When withdrawal time came, Paypal required to link my bank account so the money transfer could be made.I had already withdrawn twice in the method so I guess I can say my thanks to Paypal.
     
  15. Lushlala

    LushlalaWell-Known Member

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    I'm confused. As far as I knew, Paypal insists on linking your Paypal account to your bank account in order to verify your account. I have had to do this more than once, when my card needed renewing. I must stress my bank account is not a US account. I was under the impression that I wouldn't be able to use my Paypal account unless it was linked to a valid bank card, be it credit or debit. Maybe I'm wrong. Someone please feel free to clarify.
     
  16. shoptodrop

    shoptodropActive Member

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    I do because I found a way to make money online but their only payment method is through paypal. So I didn't really have a choice but to link it. But it really helps when we need money, the only thing is it takes 3 days to show up to your bank account. Other than that, it really helps being able to just transfer it whenever you want. I don't use paypal for anything else like shopping online. I always keep up to date on my bank account and my paypal so I'll notice if anything happens. I haven't heard of anything bad happening so I'm very much hoping nothing happens. I don't need that headache.
     
  17. overcast

    overcastActive Member

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    I have linked Paypal with the bank account. And it seems to be good enough for the money transfer. It can auto transfer the bank account. And it works out really well. As you can see that paypal some of the time works good in many ways for the bank transfer when the remittance based accounts are made. So linking is easy and I have done it as well.
     
  18. wallet

    walletActive Member

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    You can link your bank account to your PayPal because it is the only way in which you can withdraw your money. I advise you to buy/sell online only with your PayPal account and not your bank account because the bank can track all your transactions.
     
  19. Nakitakona

    NakitakonaActive Member

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    I do agree with this idea. This is what I actually have been doing. Before I didn't have a link for my bank account or debit card. I pay my online purchases using PayPal. It's fast and easy. And there's a time that I need a cash and I have more than balance with my PayPal account. I compelled to link my bank account and made a withdrawal by transferring cash to my bank account
    However, there's a minimal service charge deducted from my amount withdrawn.
     
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