What exactly does 'link my bank account' mean?

[bobgee]

In plain english, what exactly does 'link my bank account' mean?  What is it's effect?

[TsufakTuna]

Hi bobgee,

when you link and verify your bank account, it allows you to access funds directly from your bank account through your PayPal account. It removes the limitations on unverified accounts, and validates that you are indeed an authorized user.

When you link a bank account to your PayPal you must verify it as well. Then you will be able to send or receive funds from PayPal with no money limits. Some users will not allow people to use unverified PayPal accounts to purchase their items, so verifying your account will also increase the amount of merchants willing to sell to you.

[bobgee]

Hello,

Thanks for responding. That looks like it's been 'copy & pasted' from somewhere. It's not very plain english though, so I'm still not clear.

"when you link and verify your bank account, it allows you to access funds directly from your bank account through your PayPal account"

So do you mean that you are in fact setting up a direct debit authority?  It sounds awfully like that to me.

"unverified accounts" - what accounts?  Do you mean the Paypal account?  Why would you need to if it was already verified?

"When you link a bank account to your PayPal you must verify it as well."  You mean verify the bank account?  Sounds like that's initialising a direct debit authority.  Is that what you meant?

"Then you will be able to send or receive funds from PayPal with no money limits."  You mean no money limits whatsoever?  Send money you don't have?  I find that hard to believe.  Is it true?

"Some users will not allow people to use unverified PayPal accounts to purchase..."   Firstly, how do these 'some users'  know - surely they can only know after the event?  If paypal made the payment, surely Paypal feel it's safe to do so and hence the buyer suitable to purchase?  Are you saying that Paypal send payments but with conditions attached for some sellers?  Like 'here's a ten pound note but we don't guarantee it's not a forgery'?

It's all very confusing, isn't it?

[TsufakTuna]

It doesn't appear English is your primary language since you seem to have trouble understanding the linguistics used. To verify your PayPal account you must link a valid working bank account to it and then allow PayPal to submit two small deposits to authenticate that the bank account is indeed real.

An unverified PayPal account has a total money sending limit, it doesn't matter which funding source you use. For example, if you have a limit of $1000.00 USD every purchase you make will decrease that limit till it reaches $0. When it reaches $0 you will no longer be able to send money via PayPal regardless if its a debit card, bank account or credit card. When you verify your PayPal account by linking and authenticating a bank account you no longer have sending limits from PayPal.

An eBay seller can filter unverified PayPal accounts users at their discretion. 

None of this information is copy and pasted, if you really are that confused by the linguistics then by all means contact PayPal's customer service to verify anything you feel the need for.

[Daltimari]

I think people are having a hard time articulating what they are confused about.  People are concerned that if they link their paypal to a credit card, that the purchase may be mistakenly charged against the credit card instead of the paypal account.  If there is enough in the paypal account to cover the purchase, is there any possibility that this can accidentally happen?