AtariLeaf Posted February 11, 2011 Share Posted February 11, 2011 I opened a new checking account to transfer my paypal funds to but I keep getting emails from paypal wanting to "confirm" my bank account. Now I don't need it to receive funds since I've already gotten them in the account without confirming it. I fear there is some danger of giving them access to account and wanted some advice before I proceed. Quote Link to comment Share on other sites More sharing options...
jblenkle Posted February 11, 2011 Share Posted February 11, 2011 (edited) I opened a new checking account to transfer my paypal funds to but I keep getting emails from paypal wanting to "confirm" my bank account. Now I don't need it to receive funds since I've already gotten them in the account without confirming it. I fear there is some danger of giving them access to account and wanted some advice before I proceed. If you want your account fully functional, you need to do it. I've done this with two checking accounts with no problem. As I recall, all they do is deposit a couple of cents into your checking account to make sure it's a legitimate account and the transaction goes through. If you ever do decide to buy something and use PayPal to pay. You'll be all set up. You can also link it to your credit card and use either your credit card or checking account to pay for purchases. Edited February 11, 2011 by jblenkle 1 Quote Link to comment Share on other sites More sharing options...
Chuck D. Head Posted February 11, 2011 Share Posted February 11, 2011 Leaf, I have had no problem with this and havent heard any horror stories either. I assume this part of their business is covered by banking regulations also, but I am sure there is a lengthy EULA to read on their site somewhere if you want to be super sure. Quote Link to comment Share on other sites More sharing options...
+Allan Posted February 11, 2011 Share Posted February 11, 2011 Just don't attach any bank account that you have a large savings in or have your weekly paycheck deposited in. If Paypal says you have some problem with a transaction, you might have trouble getting the rest of your money. Do a search here on AA to see the problems people have had with Paypal. Allan 1 Quote Link to comment Share on other sites More sharing options...
Mayhem Posted February 11, 2011 Share Posted February 11, 2011 Yeah... for security sake, I started a brand new debit account and used that for attaching to Paypal, not my main bank account. Quote Link to comment Share on other sites More sharing options...
+remowilliams Posted February 11, 2011 Share Posted February 11, 2011 Just don't attach any bank account that you have a large savings in or have your weekly paycheck deposited in. Yes, never link paypal to a primary account. Get a separate free checking account or something that you can transfer to and from outside of paypal. Quote Link to comment Share on other sites More sharing options...
Goochman Posted February 11, 2011 Share Posted February 11, 2011 I have about $300 in my 'Paypal' linked account - they have a bad habit of locking accounts when there is a dispute - hate to have my paycheck held up for a $25 Pac Man cart Quote Link to comment Share on other sites More sharing options...
raskar42 Posted February 11, 2011 Share Posted February 11, 2011 i did it on an old checking account i have - now i use that account only for paypal Quote Link to comment Share on other sites More sharing options...
AtariLeaf Posted February 11, 2011 Author Share Posted February 11, 2011 Thanks, I think I'll forgo linking it. I use my credit card to pay for purchases if there is no money in paypal and I just transfer from my main bank account to the credit card to pay for things. Yes this is a separate checking account I opened. I soon as I get a couple hundred bucks in sales I transfer it to this account and then take it out right away. A fellow I know sold a baseball card for about $1500 and the buyer claimed it was fake and mailed it back. The card sent back was a fake - the buyer switched cards. And since paypal seems to always side with the buyer they took $800 out of his paypal and wanted to take the other $700 out of his bank account. Luckily he DIDN'T confirm his bank account and he's glad he didn't as paypal would have just taken his $700 out of his account. Quote Link to comment Share on other sites More sharing options...
kheffington Posted February 17, 2011 Share Posted February 17, 2011 Thanks, I think I'll forgo linking it. I use my credit card to pay for purchases if there is no money in paypal and I just transfer from my main bank account to the credit card to pay for things. Yes this is a separate checking account I opened. I soon as I get a couple hundred bucks in sales I transfer it to this account and then take it out right away. A fellow I know sold a baseball card for about $1500 and the buyer claimed it was fake and mailed it back. The card sent back was a fake - the buyer switched cards. And since paypal seems to always side with the buyer they took $800 out of his paypal and wanted to take the other $700 out of his bank account. Luckily he DIDN'T confirm his bank account and he's glad he didn't as paypal would have just taken his $700 out of his account. Not exactly what PayPal does, The amount sets in the PayPal account as a negative amount. They wait until you try to buy something then send it thru as a requested transaction. If you don't approve it you can't buy thru PayPal. Probably legally the only way they can do it. Anyway if you did not approve the transfer you could just call the bank and stop/reverse it. Quote Link to comment Share on other sites More sharing options...
+wood_jl Posted February 17, 2011 Share Posted February 17, 2011 I'm with those guys. I keep an account at a separate bank for Paypal, and I usually only keep a few hundred dollars in it (max). Quote Link to comment Share on other sites More sharing options...
+LS650 Posted February 17, 2011 Share Posted February 17, 2011 With my bank, in addition to my current accounts I was able to get a savings account with a separate number that gets 10 free transactions a month. I linked that to PayPal. I have used it several times without any issues. When I receive money, I can transfer funds to any of my other accounts, and when I am planning a major purchase I just transfer in enough funds to cover the transaction only. Quote Link to comment Share on other sites More sharing options...
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