paypal account question?

by john76
12 replies
I'm new to using paypal. I understand that once you signed up it has to be a business account to link up to some affiliate web-site like jvzoo.com for example.

I signed up and used my credit card as form of billing but in order to receive payment through paypal do I need to link it up to my bank account?

If I start marketing a product and make some sales for examples .
#account #paypal #question
  • Profile picture of the author New Girl
    If you upgrade to the business account, they will give you list of all of the things that you have to do to start selling. They will make you link a bank account and a credit card and you will probably have to fax them a picture ID once you make money and try to withdraw it.
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    • Profile picture of the author wiifm
      It's a mute point really, why would you want to run a business without a bank account? I have had a free account for 15 years just for my Internet ventures and most banks will give you one.
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      • Profile picture of the author New Girl
        Originally Posted by wiifm View Post

        It's a mute point really, why would you want to run a business without a bank account? I have had a free account for 15 years just for my Internet ventures and most banks will give you one.
        I don't think he said that he didn't have a bank account - I think he was just asking if he was going to have to link it to the Paypal account.
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        • Profile picture of the author wiifm
          Originally Posted by New Girl View Post

          I don't think he said that he didn't have a bank account - I think he was just asking if he was going to have to link it to the Paypal account.
          I guess I wasn't very clear, free bank accounts are a dime a dozen so in my opinion, everyone should have a separate account just for linking with PayPal. It's keeps your main account safe that way.
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  • Profile picture of the author Jsngangom
    Yes Of course you have to link to your bank account! it is mandatory, even I was in same situation
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  • Profile picture of the author XponentSYS
    Yes, PayPal requires you to link to an account.

    I bank at BofA and here's my setup.....

    PayPal > Bank account 1 > Bank account 2

    Account 1 is the account that my PayPal funds settle to when I withdrawal my funds from PayPal. Once those funds hit account 1, I transfer then to account 2.

    Account 2 is my business checking account.

    Setting things up this way keeps my core business account safe from shinnanigons and allows me to manage cash flow.
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  • Profile picture of the author Alexa Smith
    Banned
    Originally Posted by john76 View Post

    I understand that once you signed up it has to be a business account to link up to some affiliate web-site like jvzoo.com for example.
    This isn't so. You can actually do that using a verified personal account on which the limits have been lifted. (But if you're going to do much business online, at some point you're probably going to want a business account anyway).

    Originally Posted by john76 View Post

    in order to receive payment through paypal do I need to link it up to my bank account?
    Not "to receive payment through PayPal", no (so I don't understand why so many people are saying "yes" to this - they're mistaken).

    People can pay you by PayPal without your needing to do that.

    But you do need to do that in order to receive the funds from PayPal, otherwise they'll just sit in your PayPal account and all you'll be able to use them for is spending them at places that take PayPal payments.

    .
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    • Profile picture of the author niravmehta
      This is the most accurate answer here. You'd need to link your bank account mainly to withdraw money from PayPal. In many cases, they'd need the bank account to be in the same name as the PayPal business name. Rules change for different countries though.
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  • Profile picture of the author Brent Stangel
    But you do need to do that in order to receive the funds from PayPal, otherwise they'll just sit in your PayPal account and all you'll be able to use them for is spending them at places that take PayPal payments.
    Hee Hee! I get to correct Alexa Smith!

    Actually you can get a handy little Paypal business debit card which works exactly like any other MasterCard. I can spend my money anywhere MC is accepted 30 seconds after it hits my account.
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    • Profile picture of the author Alexa Smith
      Banned
      Originally Posted by Brent Stangel View Post

      Hee Hee! I get to correct Alexa Smith!

      Actually you can get a handy little Paypal business debit card which works exactly like any other MasterCard.
      Well, it depends which country you're in. But point taken, and thank you!
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      • Profile picture of the author LivingCovers
        Originally Posted by Alexa Smith View Post

        Well, it depends which country you're in. But point taken, and thank you!
        How I wish ( and have labored) it was that easy to open a paypal account from where I'm based, Ghana, Africa. It's so much of an inconvenience to have to be involved in IM without a standard payment portal like Paypal.
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  • Profile picture of the author LuckyIMer
    If you linked your card and verified it, your account should become verified and linked to your credit card banking account, and you can withdraw money.

    It is not necessary to link to bank account to receive money, if you already linked your credit card and verified.
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