Is Your PayPal Linked to Your Bank Account?

[Jagosaurus]

I bet most of your answers to this will be yes seeing as a lot of people sell items here or on eBay & transfer PayPal balance to bank account (versus only having a card on file with PayPal).

I tend to keep my hobby money separate so I've really havent had a need to do this, but it would be nice sometimes to shift funds from PayPal to my bank acct (for transactions on amazon & in stores).

A few questions:
1. Any horror stories with this? (is, identity theft, fraud, etc)
2. Paypal doesn't charge again when transferring from balance to bank account, correct?
3. Time delay from transfer to it hitting your bank?
4. Overall safe & good experience?
5. When selling an item (not a gifted payment), if bank acct is linked is your fee waved, or is that only waived with sending gifted?

Im a bit hesitate to give a company my banking info if you can't tell it would save me the few bucks on fees on RB gift payments though!

[TSTR]

1. Nope
2. No fees for transfer to bank account
3. Varies in my experience; I've had it be anywhere from a couple days to over a week
4. Safe enough, I reckon
5. Still fees unless gifted

[dsheinem]

I bet most of your answers to this will be yes seeing as a lot of people sell items here or on eBay & transfer PayPal balance to bank account (versus only having a card on file with PayPal).

I tend to keep my hobby money separate so I've really havent had a need to do this, but it would be nice sometimes to shift funds from PayPal to my bank acct (for transactions on amazon & in stores).

A few questions:
1. Any horror stories with this? (is, identity theft, fraud, etc)
2. Paypal doesn't charge again when transferring from balance to bank account, correct?
3. Time delay from transfer to it hitting your bank?
4. Overall safe & good experience?
5. When selling an item (not a gifted payment), if bank acct is linked is your fee waved, or is that only waived with sending gifted?

Im a bit hesitate to give a company my banking info if you can't tell it would save me the few bucks on fees on RB gift payments though!

Yes.

1. Not for me
2. Correct
3. Usually the next business day, at most two business days
4. Yes
5. No, only when sending a gift.

[fastbilly1]

Nope - I opted for the Paypal creditcard. It may not have the best reward structure, but every month or so I get a free $50 for buying games on Gog/Steam/Ebay/Here.

[BoneSnapDeez]

Mine is linked to my credit card.

That said, I generally use cash to buy PayPal gift cards to fund my account. Rarely do I have credit card charges.

[Jagosaurus]

Appreciate the clarification guys!

Dave, Over the past few years Ive consistenly done what you've been doing this year. Track my money in versus money out. Having this linked would allow me sell an item on RB & then walk into Target & buy a game on sale & be budget neutral. Right now I'm limited between PayPal/eBay/forums & then separately cash/ brick and mortar/amazon. It would nice to have that all in one pot and combine "right pocket" with "left pocket." This might encourage me to link them, that plus the fact Paypal charges me on gifted.

Hm... PayPal gift cards and credit cards are an interesting approach for budgeting purposes.

I'm a numbers guy if you can't tell

[Fragems]

Yeah there really isn't a downside to linking your bank account to PayPal. As for transfers with me it is usually 1-3 day which is the estimate I believe is also their estimated transfer time on the site. More often then not it takes 1 day.

[Frag Mortuus]

Not only is mine tied to my bank account, but I have a Paypal Debit Master Card which acts like a debit card out of my bank account. Like Fast said, I get 1% cash back so this adds up pretty fast if you use your card for everything. Its basically free money for using your card the way you normally would. I've been using paypal this way for years now and have never had a problem.

[BurningDoom]

I don't use a bank account or my credit card. I used to use my bank account, and my PayPal got hacked. So my bank signed me up for a Visa Travel Card and I have that attached to my PayPal account, now.

Basically, anytime I want to buy something online, I just transfer money from my bank account to my Visa Travel Card. So then if my PayPal account ever gets hacked again, they get nothing because the only time the card has money on it is when I'm actually buying something.

[aaron]

Mine's linked to my bank acct. Haven't had any issues. I mainly just do this so I can use paypal to pay for things online and not have to enter my debit card number to make a purchase. Overall I've had a pretty good experience.