PAYPAL INST XFER ACH Entry memo posted today. Why does my bank statement say this and a charge for

[asa_low12]

I checked my bank statement today and I now have an overdraft fee because of this: PAYPAL INST XFER ACH Entry Memo Posted today for $20.41.  What is this and why is it there??

[surplusdealdude]

You paid for something and paypal took it out of your bank account.