Paypal question....is it safe to put your checking account?

KT · Post by KT » Fri Mar 26, 2010 10:39 am

I just sold some stuff online for some nice $$$$. I feel uneasy about leaving the money since I would like to withdraw it quickly but paypal has a limit on how much they can send me via check each month. Is it a good idea to put your checking account number on there so you can transfer funds faster?

I just wanted to hear from the more experienced paypal users!

Golden Boy · Post by **Golden Boy** » Fri Mar 26, 2010 10:48 am

I've never received a check from Paypal. It's always been a direct deposit, which I find the most convenient. I would recommend linking your checking account. Save gas and time. Just my 1.82 yen!

gb

Sky Rat · Post by **Sky Rat** » Fri Mar 26, 2010 11:00 am

Iâ€™ve always had mine linked to my checking account and done direct deposit. Iâ€™ve had my account for several years and never had a problem.

duotrouble · Post by **duotrouble** » Fri Mar 26, 2010 12:11 pm

I've been a member of PayPal for almost 10 years now. I've never received a check from them. I've always had my checking account linked with them. You should be fine as long as you never click an email link for PayPal. Always go through your own link to access it. It's just safer that way.

theultimatebrucelee · Post by **theultimatebrucelee** » Fri Mar 26, 2010 5:18 pm

same here always had paypal linked to my checking account, its pretty easy and simple.

Koneko Koji · Post by **Koneko Koji** » Fri Mar 26, 2010 5:30 pm

I've hooked my bank account in and never had a problem - all i'd say is what duotrouble said - as long as you're sensible with your emails and links etc, there's no problems at all!

Well ... i don't know about US etc, but in the UK it takes 7 - 14 days for the money to transfer across - that would be my only issue.

graymouser · Post by **graymouser** » Fri Mar 26, 2010 8:16 pm

I have my Paypal account linked directly to a separate checking account. It's not linked to my main personal or business accounts. I started one of those free checking accounts with the same bank as my main personal account. I keep very little money in this secondary account. I can deposit as much money as I want from Paypal into this account. After that, I electronically transfer the money to my main personal account or vice versa. It's probably just paranoia but I do not like the idea of Paypal having direct access to my main checking account. Since both accounts are at the same bank transferring between the 2 accounts online is pretty much instantaneous so there is no additional wait for the funds to be available to use.

KT · Post by KT » Sat Mar 27, 2010 10:47 am

Thanks for all your responses

I feel more comfortable linking my checking account now! Thanks again everyone!!!

Belldandy16 · Post by **Belldandy16** » Mon Mar 29, 2010 11:46 pm

im the same as Graymouser, i use a separate account from the one i use for my direct deposit from my employer so if anything happens i can just close that account and not even worry about it.
...
*dang that was a long sentence*

lol

and yeah it does take around 7 days to transfer money to your bank acct from paypal here in the states also.

ginga123 · Post by **ginga123** » Wed Mar 31, 2010 10:23 pm

like duotrouble, i have my bank account linked to my paypal account and i have been a member for 5-6 years with NO problem whatsoever. transfer of funds from my PP account to my checking take 2-4 business days.

i also have my PP account set up to have a PP debit card that allows me to withdrawl the funds directly from the PP account at any ATM and i earn 1% cash back on everyday and business related purchases using that PP debit card. back up funds are provided by my checking acct if i don't have any funds in my PP account itself. i love it. one time, i earned $5-8 cash back just from using the card.

definitely take it into consideration. PP has no authority to access your checking account whatsoever, they must have your permission to do anything-- especially if you're trying to settle a dispute.