Paypal automatically take money from bank account

I've just signed up for a PayPal account, and it gives me the option to link a bank account or add a credit card. The credit card option would mean that PayPal can withdraw any amount of money necessary to pay for anything I purchase online. The bank account part confuses me. To link my bank account, I'll need to give PayPal my bank, branch, and account number, and it seems like that's about it.

Send Money, Pay Online or Set Up a Merchant Account - PayPal

Googling about whether PayPal can draw funds from my bank account on demand doesn't give any results that answer my question. But if I click the "Top Up" button in PayPal, it says that after linking my PayPal account, I still need to log in to my bank account to initiate the transfer. I would like to limit the amount that PayPal is able to withdraw from my bank account, preferably so that PayPal would be unable to withdraw any money without me logging in to my bank account.

I would keep some PayPal credit in my PayPal account and transfer funds manually when I run low on PayPal credit. I would think that with my account number and other details I submit to PayPal to sign up, PayPal would be unable to get any money from my bank account without me initiating the transfer by logging into my bank account.

I have a PayPal account that I have linked to my bank account. When I make a purchase with PayPal, PayPal will automatically withdraw the funds from my bank account to make the purchase. PayPal does not ask my permission for each purchase. I probably gave them permission to do this when I linked my bank account. Or perhaps the PayPal purchase process includes this permission. I don't read the text closely. Or I should add, that I probably read it at one point, but since I do it on a regular basis, I don't read it now, and I don't recall what is on the checkout page.

See this help article from Paypal about payment methods for purchases. So yes, Paypal will automatically deduct from your bank account when you make a purchase, unless you link another payment method and make that your default.

As the other answers stated: Yes PayPal will transfer money from your bankaccount automatically if your PayPal balance isn't sufficient. Let's add some proof to the story: Note, I am in the EU, specifically the Netherlands, situation might be different in other parts of the world. If I login to PayPal and go to my wallet, I have a section that looks like this: If I click on it, I am presented with a screen with details about the connection.

Note the "Direct debit instruction".

If I click on the "view" link I am presented with the following text emphasis mine:. This authorisation allows A PayPal to send instructions to your bank account and B your bank to debit your account in accordance with the instructions from PayPal.

As part of your rights, you are entitled to a refund from your bank under the Terms and Conditions of your agreement with your bank. A refund must be claimed within 8 weeks starting from the date on which your account was debited. Your rights are explained in a statement that you can obtain from your bank. Practically, as an ebay buyer I have never seen any way to keep a balance in paypal and top it off from my bank account under my own control.

It is all automated, and as I seem to recall linking with a bank account or credit card was necessary to get some kind of "confirmed address" status out of Paypal so that eBay sellers would be more willing to trust me as a buyer and know that my shipping address was legitimate. As a seller, I can keep a balance at paypal from eBay sales and ask for it back in my checking account instead of keeping it in paypal to purchase items later.

In terms of advice, in my opinion the paypal transfer limits or how to set them is not the answer needed to protect one's finances in this situation. In an error or cyberattack scenario, you have to consider the possibility that any limits are exceeded. When your online activity of any kind is linked to a bank account, any amount in that linked bank account is probably at risk. It doesn't really matter if it is paypal, or a server rental account, or amazon.

If it can be abused, and it is linked to your bank account, then someone might abuse it and leave you with a bill. That you might be ultimately victorious is of little consequence if someone steals money you really needed right now and the devotion of time and energy to "work the bureaucracy" to get your money back will distract from performance at work or school.

So the next step up in protection is to firewall the bank account you use for online purchases from your other bank accounts where your salary is received. The best way to do it is with different banks instead of merely different accounts, but that is also the most inconvenient for filling the account back up. Whatever balance you keep in the account you use for your "risky" online transactions will be the maximum that can disappear in an incident, downside being you have to feed the account from time to time to keep it above the minimum as you make purchases.

The answer is no.

Paypal will always ask for permission before adding or withdrawing money. I linked my bank account by making a transfer from bank account to Paypal without linking a card. This should not give Paypal any rights to do anything with my bank account - transfer that I made to link it was exactly the same as any other outgoing transfer from my bank account. Paypal is not mentioning it but one may also transfer money to Paypal account form bank to solve this problem. Note, that one may give allow Paypal to access bank account - maybe linking a card will allow this?

Paypal encourages linking card but without any description of consequences so I never checked this. It is also possible that Paypal gained access to your bank balance in other way - for example in Poland it just asked for logins and passwords to bank accounts yes, using "Add money instantly using Trustly" in Poland really requires sharing full login credentials to bank account - what among other things breaks typical bank contract. By posting your answer, you agree to the privacy policy and terms of service.

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Can PayPal transfer money automatically from my bank account if I link it in PayPal? If security is a concern for your paypal account, consider to configure for two factor authorization. One method sends a code to your cell phone via text message, to pair with your password, while another uses a token, a device which generates a new number on a second interval, which is then matched with your password. If you have a cell phone, there is no cost beyond text message pricing, while one has to purchase the token device.

You should specify which country you're in, as it may vary from country to country. In many cases, you can allow Paypal to initiate direct debits on your account, which means that they will indeed be able to draw money directly from it.

This is not the case in all countries though. Additionally, I would have at least two accounts from your bank. One checking account that is connected to the paypal account and the other either a savings or an additional checking account that is not connected.

I've been doing this for almost 6 years with paypal and only keep a limited amount in the account connected to paypal. This ensures no more than I'm willing to draw is ever exceeded.

From the various PayPal articles below there seems to be confusion between answers. You're best bet, email PayPal with this exact question and see what they respond with. Feb 2 at Jeff O'Neill 1, 3 4 Rex Only if you don't trust PayPal. It is very annoying so I just deleted the backup from the account.

Can Paypal take money from my bank account? - efulejeqih.web.fc2.com Forums

PayPal is annoying in many ways, and I wish there was a good alternative Anoplexian, PayPal definitely can't withdraw money from your bank account without your consent, but given the ludicrous terms and conditions that no one ever reads and the Byzantine nature of PayPal's documentation it is hard for anyone to know what they've actually given consent for PayPal to do.

I simply described my experience with how PayPal works in practice. I don't know if they still do however.

How to Set Up a PayPal Account: 10 Steps (with Pictures) - wikiHow

I'm lead to wonder what would happen if after that you told your bank that specific debit X was unauthorized. Note that it will happen only if you give Paypal access to your bank account.

Note, I am in the EU, specifically the Netherlands, situation might be different in other parts of the world If I login to PayPal and go to my wallet, I have a section that looks like this: If I click on the "view" link I am presented with the following text emphasis mine: Below this text is a button to delete the authorization. Olle Kelderman 2. Note that it is also possible to have linked bank bank without direct debit.

Paul 2, 9 Paypal does not "ask permission" for a transaction once the account is configured for use. It will display that your paypal funds are coming from the bank account prior to clicking the transaction action button.

That's how it works for eBay transactions, other vendors may not provide this information. PayPal sort of asks for permission: This answer is not correct. And not all debits are for purchase transactions. There are also for example e-bay monthly fees, which are. On attempting to pay more that resides in my Paypal balance I get To pay for this purchase right now, link a debit or credit card to your PayPal account.

It is also possible that Paypal gained access to your bank balance in other way - for example in Poland it just asked for logins and passwords to bank accounts yes, using "Add money instantly using Trustly" in Poland really requires sharing full login credentials to bank account - what among other things breaks typical bank contract source for "Paypal attempts phishing": Mateusz Konieczny 7. That's because Instant Bank Transfer requires a backup funding source, as clearly explained on PayPal's website , which is why it's not giving you that option to pay.

It will not give you the option if the system determines that it is unable to trust your account in terms of the amount of payments declined via IBT.

How to Transfer Money from PayPal to Skrill (MoneyBookers) Accounts | Diana Marinova

In this case it also breaks typical bank contract. It is especially bas as there alternative solutions for instant transfer problem that work without sharing passwords most work thanks to fact that within single bank transfer completes instantly. It doesn't share passwords though IBT is direct debit. Sign up or log in StackExchange. Sign up using Facebook. Sign up using Email and Password. Post as a guest Name. In it, you'll get: The week's top questions and answers Important community announcements Questions that need answers.

The information you mentioned name, routing number, account number is enough information for them to make transfers which is why you shouldn't give this information out so someone you don't trust.

Paypal is known for auto-transferring money out after things like a bad ruling on a chargeback on the other side I've seen too many open-shut cases that went the wrong way. But does "asking for permission" simply mean a dialog box on PayPal's website, or would it necessitate me to log in to my bank account to transfer the money?

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