Pay a fee to receive money from customers, pay a fee again to deposit your paycheck?

[J-Olya]

Paypal no longer allow transfer money from business account to bank account.

You can request a check (in 1-2 weeks) for $1.50 or a prepaid Master Card.

Does this sound okay to everyone?

James

[sharpiemarker]

With PP prepaid card, you withdraw PayPal balance to it or you go to a store to reload the card.  That is not a cash advance.  If you use the money or credit from the card not for a purchase charge but to convert the credit to cash at ATM or over the counter cash withdraw, you are doing a cash advance and they charge fees for that.  You can even withdrawl from a reload store and that is cash advance w/ fee.

Therefore if you withdraw to the card from PayPal balance, just use the card for purchases, you wouldn't even do a transfer from card directly to your bank account. If you have a bank account with a check card, and is linked to PayPal account, just withdraw to bank account and use bank acct debit card. Why need the prepaid card? People get the prepaid card because they do not have bank account or do no want one and link it to their PayPal account.  

The Prepaid card comes with the option of opening a bank account at the card issuer bank though and use that bank account to link to PayPal I guess.  Then you can withdraw to prepaid card OR the bank account but you do not transfer funds between card to bank.  That would be cash advance, why pay extra.

I have a business debit card too and I do not see the prepaid card option you are talking about.  You have a business PayPal account and the option is showing on your account, where do you see it?  After you log on, like advertising?

[lancelotme]

I thought she is talking about the Paypal prepaid MC card,you have to apply for one,and fund is kept in FDIC account with Synchrony Bank .

Then she has to fund it and then link her PAYPAL account with it,there may be a fee involved like 4,95 a month.

that prepaid card is not a credit card,it is a debit card,it draws on your own money kept at Synchrony bank.

The simpler way to tap your Paypal fund is to use the Paypal business debit card,if you use it as a credit card,you get 1% cash rebate from Paypal.

The simpler way to add fund to your Paypal account is to transfer fund from your bank account linked to your Paypal account.

I would not put all my eggs with Paypal,they have many glitches and they can restrict your account and their customer service is almost non existant.  

[sharpiemarker]

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@lancelotme wrote:

I thought she is talking about the Paypal prepaid MC card,you have to apply for one,and fund is kept in FDIC account with Synchrony Bank .

Then she has to fund it and then link her PAYPAL account with it,there may be a fee involved like 4,95 a month.

that prepaid card is not a credit card,it is a debit card,it draws on your own money kept at Synchrony bank.

The simpler way to tap your Paypal fund is to use the Paypal business debit card,if you use it as a credit card,you get 1% cash rebate from Paypal.

The simpler way to add fund to your Paypal account is to transfer fund from your bank account linked to your Paypal account.

I would not put all my eggs with Paypal,they have many glitches and they can restrict your account and their customer service is almost non existant.  

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Yes, OP is talking about PP Prepaid debit MC.  It's a stored value card, not a bank account per say.  But optional to sign up for a traditional savings bank acct on the side with card issuer bank, Synchrony for direct deposit functions. It's not a credit card yes insofar you are not borrowing any money. You have what you store in it but can use where credit cards are accepted. There are fees for cash out withdraw.  To avoid that, you simply purchase with the card instead.  If OP already has bank account and PP biz debit card, no point in getting the prepaid card option because of fees and that it's for users that are traditionally unbanked for whatever reason. I suspect it is advertising seen on a splash page when logging on.  I do not see this option under Transfer to bank link.

[J-Olya]

I noticed the extra option this week. We have a few business debit cards for expenses and deposit to bank account for payroll.

James

[Renshi_Taka]

Is there a way to set up my PayPal account to automatically deposit into my checking account on a daily or weekly basis?

[Whac-A-Mole]

there used to have a feature like that,you can go to the site and find out.

why do you pay a fee to deposit your pay check?