PAYPAL, Add a Bank Acount...

[ST Dragon]

Hello,

I have an ATM/Debit card (Not a credit card) which is connected directly to my checking type bank account. I successfully created a Paypal account and connected it to the debit card. I was also asked by paypal if I wanted to add a bank account. If I don't, how can I transfer money from my debit card to paypal and vice versa, assuming that the debit card already has some money? I don't quite understand how the money is transferred between the debit card & paypal and what are the banking transferring fees in each case?

I have not added my bank account to Paypal yet, as I was not sure of the risks/benefits of doing so. If I don’t and leave it as it is, will I be able to make withdrawals from PayPal to my bank account and vise versa (The debit card is connected directly to my account)

Will I have to pay higher bank transfer fees?

This is what is stated at Paypal:

Withdraw PayPal Funds Directly to Your Greek Bank Account.

Add a Bank Account in Greece

________________________________________

Now you can withdraw funds from your PayPal balance to your Greek bank account. Enjoy access to your PayPal funds without incurring high international bank transfer fees.

Add your bank account

Simply add a Greek bank account to your PayPal account, and you can begin withdrawing your PayPal funds. Just make sure your bank account is denominated in Euro (EUR).

Avoid high bank transfer fees

Making withdrawals from your PayPal account is free for amounts above €100.00 EUR. For withdrawals under €100.00 EUR, you pay just €1.00 EUR.

Your PayPal funds will be converted to Euro before they are deposited to your bank account. The exchange rate for the transaction will be displayed prior to making your withdrawal.

With easier access to your funds, you can manage your business more efficiently than ever. Withdraw funds to your Greek bank account today!

I live in Greece E.U. and the local currency is Euro.

Please excuse my ignorance as I have never used Paypal / Ebay before, so any help will be highly appreciated.

Thanks in advance.

 

[Zziggy00]

if you make a paypal payment it will take the money directly from your ATM / Debit Card, when someone gives you a paypal payment it resides in your PayPal account, if you wish to transfer money into your bank account from the paypal account you need to supply the account information to PayPal.

 

[EliteEvi;]

By adding a bank account you will have the option of transferring money through direct debit. To be honest there seems to be little difference between using direct debit and paying via a card, but by adding a bank account you get 'verified' status. This is good when selling as it suggests that you haven't just created an account to rip people off.

And you get about 30p

 

[ST Dragon]

My ATM/Debit card is a VISA Electron.

I also just noticed that my Status in Paypal is "Unverified (New)"

Well, my balance in my Paypal account is zero (0), so how am I supposed to transfer money from my debit card to my paypal account and actually buy something?

However, I did try Paypal's "send money" form as a test, but I got this:

Before you may make this payment, you must enroll in PayPal's Expanded Use Program and enter your Expanded Use Number.

Enroll in PayPal's Expanded Use Program

--------------------------------------------------------------------------------

PayPal offers an Expanded Use option to help you get the most out of your PayPal account. Just complete our easy enrollment process to enjoy these Expanded Use benefits:

No Account Sending Limit - send unlimited funds from your PayPal account.

No Withdrawal Limit - withdraw unlimited funds from your PayPal account.

--------------------------------------------------------------------------------

How to Enroll in the Expanded Use Program

You're just three steps away from the freedom of Expanded Use:

Step 1:

Authorize PayPal to charge a €1.50 EUR Expanded Use Fee to your card. (You will receive a €1.50 EUR bonus in your PayPal account after you complete enrollment.)

Step 2:

On your next credit card statement (monthly transaction history), find the 4-digit Expanded Use Number that will be printed in the item description section of the charge. It may take 3-4 business days for the number to appear on your statement.

Step 3:

Log in to your PayPal account, click the Complete Expanded Use Enrollment link on your Account Overview, and enter your Expanded Use Number.

When you enter your Expanded Use Number, your enrollment will be complete. You'll have access to unlimited sending and withdrawals, and you will become a Verified Member of PayPal!

Click Get Number to authorize PayPal to charge €1.50 EUR to your credit card ending in 7008.

Get Number, Cancel

What is this? :?: :!:

Is this because my Paypal Status is "Unverified (New)"

Will I get a verified status if I just add my Bank account to Paypal and actually skip this "enroll in PayPal's Expanded Use" thing.

 

[Slipknotted]

I don;t really know how it works with debit cards. I will give you my setup and maybe you can figure it like that.

I have a credit card on file and a checking account.

To become verified you have to click the verify bank account button once you have added a checking account. Once you click that paypal will send you 2 different deposits in cents. Once you can verify how much they are via online banking or calling your bank, you than go back to your paypal account click verify and enter the amounts and bingo bingo your done.

As I stated above I am not familiar with having a debit card as the main card. Something you can try is click add account and just add the checking account that debit card is linked to and that might end up working but again I do not know exactly as I have never used a debit card for my main card.

Hope that helps

 

[Zziggy00]

I have an ATM / Debit card, it is also VISA. (It works like a credit card anywhere VISA is accepted, but it takes the money directly from my bank account). When you set this card up with your paypal account when you wish to buy something through paypal, just select the paypal option. Paypal will automatically deduct the funds through your ATM card from your bank account.

What slipknotted says above is true, you want to attach a bank account to get verrified status, also you need to attach a bank account in order to transfer paypal payments from others to your bank account.

 

[ST Dragon]

Thanks for all the info.

I appreciate that!

By the way, I noticed that as long as I’m not verified, I can’t send any more than 100 Euros (To buy stuff). The limit will be lifted only when I enter the 4-digit Paypal Expanded Use Number and become verified.

Is it the same case for all unverified Paypal users, or is this some new protection measure from Paypal?

 

[EliteEvi;]

Originally posted by ST Dragon@Thu, 2006-01-12 @ 06:21 PM

Well, my balance in my Paypal account is zero (0), so how am I supposed to transfer money from my debit card to my paypal account and actually buy something?

[post=143425]Quoted post[/post]​

The easiest way (assuming you are using ebay) it to go into my ebay and see your list of won items. Then click pay now and it is fairly straightforward. Some sellers try to force you to use their own checkout systems but I haven't used them so I can't tell you much about them.

 

[Slipknotted]

Originally posted by ST Dragon@Thu, 2006-01-12 @ 07:09 PM

Thanks for all the info.

I appreciate that!

By the way, I noticed that as long as I’m not verified, I can’t send any more than 100 Euros (To buy stuff). The limit will be lifted only when I enter the 4-digit Paypal Expanded Use Number and become verified.

Is it the same case for all unverified Paypal users, or is this some new protection measure from Paypal?

[post=143433]Quoted post[/post]​

I think the above might be a EURO thing as I do not recall ever having to do a 4 digit number or anything of that sort. Might also be like thias your are using a debit card. No idea on that.