Paypal

[amywang13]

To cashout to Paypal, does your Paypal need to be verified? Do I need to connect a credit card to my Paypal. If I don't, does the cashout still work?

[ladavia89]

Yes you need a verified Paypal account. I have my bank account connected to Paypal account not a credit card

If you're trying to get a payment through Paypal you need to start the process now because it can take a few days

[swogden]

It's not a difficult process.  It just takes time.

I am verified through my bank account.  As I recall, after I provided PayPal with my bank information, they sent 2 deposits (a couple of cents each) to my bank account and all I had to do to verify the account was to tell them what the amounts of the deposits were.  I was even allowed to keep the deposits.

Not sure what you have to do if you want to have it verified via a credit card, but suspect it may be similar.

[amywang13]

What's the difference between verifying it with a credit card and a bank account? Also, if I connect a credit card, can Paypal take money out of my credit card even if I only the cash in my account?

[Administrator]

What's the difference between verifying it with a credit card and a bank account? Also, if I connect a credit card, can Paypal take money out of my credit card even if I only the cash in my account?

You can't actually verify your PayPal account with a credit card.  You have to link a bank account to verify.

The only exception is the PayPal Mastercard credit card (not debit card).  If you apply for that card from within your PayPal account and get approved, your PayPal account will be "verified" at that point (since they pull your credit file & validate identity before issuing the card).

[amywang13]

So I link my bank account and I have money in my Paypal already for other stuff, lets say $30. If I buy anything under $30, Paypal can't take money from my bank account? 

[ladavia89]

So I link my bank account and I have money in my Paypal already for other stuff, lets say $30. If I buy anything under $30, Paypal can't take money from my bank account? 

Your bank account would be essentially overdraft protection so as long as you have enough money in your Paypal account you don't need to worry.

[dsawan]

still need a valid paypal account

[swogden]

So I link my bank account and I have money in my Paypal already for other stuff, lets say $30. If I buy anything under $30, Paypal can't take money from my bank account? 

That's the theory, however, if bad guys hack your PAYPAL account, they can use it to purchase items that may drain your bank account.  Be sure you watch your PAYPAL account for unauthorized transactions.

It happened once to me.  PAYPAL sent me an email to tell me about a transaction (in excess of my PAYPAL account) and PAYPAL had pulled funds from my bank account to cover the additional cost.  (That's the purpose of being verified.)

Even though I was able to immediately contact PAYPAL and the seller to stop delivery of the unauthorized purchase, it still took more than a week to get my PAYPAL account back to normal.  I shudder when I think what could have happened if I hadn't noticed the email from PAYPAL.

On the positive side, PAYPAL does send out transaction notices and they do have a creditable support system for this type of problem.

[amywang13]

So I link my bank account and I have money in my Paypal already for other stuff, lets say $30. If I buy anything under $30, Paypal can't take money from my bank account? 

Your bank account would be essentially overdraft protection so as long as you have enough money in your Paypal account you don't need to worry.

Oh, okay. Thank you. I was really worried because some people say that Paypal took money from their bank accounts so I didn't really want to link my bank account.

[ladavia89]

So I link my bank account and I have money in my Paypal already for other stuff, lets say $30. If I buy anything under $30, Paypal can't take money from my bank account? 

Your bank account would be essentially overdraft protection so as long as you have enough money in your Paypal account you don't need to worry.

Oh, okay. Thank you. I was really worried because some people say that Paypal took money from their bank accounts so I didn't really want to link my bank account.

I've had a paypal account since 2011 and never had issue with my bank account

If you don't want to link your bank account to Paypal you can choose to get your payment here with direct deposit or check

[keauhou]

I have two paypal accounts and use them to online shop as much as possible. I've had them for 5 years and never had an issue. I receive my FC payments this way.

[charmaine56]

Paypal keeps asking me for an updated credit card. Its connected to a bank. I have received notices they want a picture on file and to sign some tax forms. I don't sell anything so I just get notices to get this done. I only keep it open for this fusion thing.

[bremer51]

I've used Paypal for 4 years, linked to my bank account.  I've never had any fraudulent activity, but I check in regularly to make sure.

[nannycoe1]

Paypal is the way to go!