withdawing funds from paypal

[New Life]

Lets assume you have made $xxx of money from your sales into your paypal account and you want to withdraw....

Can the funds be sent to a credit/debit card registered on the account??

I also have paypal credit card...can i send money to that???

all help...as always...much appreciated

[Jasim]

Thanks for asking the question as I have been wondering simplier questions and also how long does it take to have actual access to the funds. I wondered if it was faster to send them to a credit card than a bank account? Any information would be helpful

[Kay King]

If you want details of how paypal funds can be withdrawn - the place to look is on paypal's site. It may be different depending on where you live.

kay

[New Life]

thanks for the speedy feedback...

ive had a look on the site but am totally confused with this matter..

mentions something along the lines of $1500 monthly limit and any funds after that wont be accpted....

i dont get it at all

[pjCheviot]

Log in and use the "contact us" link at the bottom of the Paypal page - use "speak to us" and get a local phone number and secure web pin number.

Ask them directly - by far the best option - because you may go round in circles any other way.

HTH

[New Life]

thankyou for all your help everyone...

i'll get on to them and find out where i stand then post back here...

Again.... cant thank you ALL enough

[reynald2790]

Well it is you can use your money in purchasing a product online. And you could withdraw money in your paypal account into your credit card. But the most problematic thing is that if you use your paypal in purchasing a product online and your paypal account don't have any fund your credit card will be charged of it.

[affilcrazy]

Well i have my debit card and bank account registered on my paypal account.

I have a business account, but as long as you have a personal pro or business account you will have no limits for withdrawing funds, once you have completed their i.d. verification process.

Paypal quotes up to 7 business days for funds to be credited to your debit card/bank account, but my funds are usually in my account within about 3 to 4 business days, but i have a UK bank account so i am not aware of the processing time for other countries.

[Jack Duncan]

Not sure if this is country specific...so some restrictions may apply...BUT

The PayPal debit/credit card works just like a debit card (ATM) and a credit card. Backed by MasterCard...but should be withdrawing funds first from your PayPal account.

Once you have it setup properly, as soon as a payment is made to your PayPal account, you can immediately go to the store and use the money...

You'll have access to the funds on your debit card (bank issued) as long as you tie the bank account to the PayPal account. It usually takes 3-4 days and you will need to check on your withdrawal limits.

Hope this helps,
Jack

[Droopy Dawg]

I normally leave the money that I make in PayPal because I do ALOT of online purchasing.

But I was curious also... so logged in to my PalPay account, and I did some detective work and found out that yes... if you have your PayPal account linked to your bank account... all you need to do is hover over "Withdraw" on the top nav bar, and click "Transfer to Bank Account". You can move funds from PP over to your bank.

It says on the page:

Please indicate the amount you want to withdraw and which bank account to credit. Withdrawals from your PayPal account to your bank account must meet the minimum withdrawal amount.

It can take 3-4 business days to complete this transfer, depending on your bank's holiday schedule and payment policies. You can get instant access to your funds with a PayPal Debit Card once you receive the card.

[Jack Duncan]

I found out recently (again) why it's always good practice to clear out your PayPal funds to your bank account.

I actually have 2 bank accounts for this biz, one tied to my PayPal account and another that is not...here's why.

About 1 month ago, someone bought something and within minutes posted an Unauthorized Transaction to PayPal. Then, they called their credit card and also posted a Chargeback.

I immediately contacted the customer to see if I could help in any way...no response. I also worked with PayPal to give them the details they needed (IP Address, time of day, etc...)

Now, here's the kicker.

PayPal freezes the funds immediately...

So, they eventually reversed the charges...I'm out the money.

BUT WAIT...two weeks later, the Chargeback hits the PayPal account...and now I'm out DOUBLE the original purchase price.

This wouldn't have happened if I had transferred all funds out to the bank and then transferred those funds to another account...because my bank would have denied the charges.

Make sense...keep them cleaned out.

Cheers,
Jack

[affilcrazy]

Originally Posted by Jack Duncan

I found out recently (again) why it's always good practice to clear out your PayPal funds to your bank account.

I actually have 2 bank accounts for this biz, one tied to my PayPal account and another that is not...here's why.

About 1 month ago, someone bought something and within minutes posted an Unauthorized Transaction to PayPal. Then, they called their credit card and also posted a Chargeback.

I immediately contacted the customer to see if I could help in any way...no response. I also worked with PayPal to give them the details they needed (IP Address, time of day, etc...)

Now, here's the kicker.

PayPal freezes the funds immediately...

So, they eventually reversed the charges...I'm out the money.

BUT WAIT...two weeks later, the Chargeback hits the PayPal account...and now I'm out DOUBLE the original purchase price.

This wouldn't have happened if I had transferred all funds out to the bank and then transferred those funds to another account...because my bank would have denied the charges.

Make sense...keep them cleaned out.

Cheers,
Jack

Yep, i've always been told to transfer funds straight away from my Paypal to bank account...i was never 100% sure why, however, i did know about chargebacks and obviously there are many unscrupulous people out there who may just "chargeback" to see if they can "purchase" and make a transaction without spending money!

I guess it's just habit for me now and i never have more than £50/$75 in my Paypal account.

[New Life]

wow...got more than i bargained 4 by asking that!!

thanks to everyone again

[DavidPreston]

Okay, here's some tricks that work well for withdrawing
your funds from PayPal.

If you live is the US you can purchase money orders
from the postal service for a grand a pop and immediately
cash them, right there!

That counts as a purchase, not a withdrawal. Purchase
limits are always much higher than withdrawal limits.

EX: I can withdraw $400 a day from an ATM but I can
SPEND over $3,000 a day on the card ;-)

I sweep my account every day or so into a special savings
account I have ONLY for PP.

But most days I'll withdraw my ATM limit and then get a
money order from the post office, then Wal-Mart etc. until
I get the entire amount in my hand...

David

[Larry at Online Trusted]

Originally Posted by DavidPreston

Okay, here's some tricks that work well for withdrawing
your funds from PayPal.

If you live is the US you can purchase money orders
from the postal service for a grand a pop and immediately
cash them, right there!

That counts as a purchase, not a withdrawal. Purchase
limits are always much higher than withdrawal limits.

EX: I can withdraw $400 a day from an ATM but I can
SPEND over $3,000 a day on the card ;-)

I sweep my account every day or so into a special savings
account I have ONLY for PP.

But most days I'll withdraw my ATM limit and then get a
money order from the post office, then Wal-Mart etc. until
I get the entire amount in my hand...

David

so why not just transfer to the bank account that you have attached to your paypal account?

seems like going to the post office and wal-mart daily to buy and cash money orders is a bit silly.

[Chris Lockwood]

Originally Posted by Larry at Online Trusted

so why not just transfer to the bank account that you have attached to your paypal account?

Because he wants cash right now rather than waiting several days for the bank transfer- that would be my guess.

[nicholasb]

I just transfer it directly into my bank account about once a week, I dont like leaving large sums of money in paypal, for some reason, and I barely use my paypal debit card

[bottomline11]

Originally Posted by DavidPreston

Okay, here's some tricks that work well for withdrawing
your funds from PayPal.

If you live is the US you can purchase money orders
from the postal service for a grand a pop and immediately
cash them, right there!

That counts as a purchase, not a withdrawal. Purchase
limits are always much higher than withdrawal limits.

EX: I can withdraw $400 a day from an ATM but I can
SPEND over $3,000 a day on the card ;-)

I sweep my account every day or so into a special savings
account I have ONLY for PP.

But most days I'll withdraw my ATM limit and then get a
money order from the post office, then Wal-Mart etc. until
I get the entire amount in my hand...

David

Great info I've been using the same strategy for several
years as Paypal can be very heavy handed and since their
terms of service are basically a living breathing document
that they can interpret anyway they see fit. It is best to
keep your balance low.

I also have maintained two PayPal accounts for years under
two different legal business entities which does not violate
PayPal policies so that in the event I have a problem with
either account I can switch PayPal accounts and not suffer
a loss of income albeit temporarily.

I hope this helps.

To a Great '09 for all of us!
Matt