PayPal Business Debit Card is removing backup bank account funding

[moorewmla]

I am not sure I am posting this in the correct location but we just received an email from PayPal informing us that starting September 12th the backup funding from our bank account to our PayPal Business Debit Card function is going to be removed from ALL PayPal accounts. I called and spoke with a wonderful customer service rep Lori who spoke with her supervisor (and they had to speak with their supervisor). Apparently no one had informed them of this major change in PayPal business account functions. 

We really rely on this benefit as we are fully self-employed with three businesses and live in a very rural area. The Debit Card backup funding gives us the peace of mind to know our accounts are running smoothly and we don't have to constantly check balances. Ours is a perishable product business and our sales are cyclical on a weekly basis, we don't have customers making purchases every day of the week.

Bottom line: booooooo to PayPal!! You just made our businesses HARDER to run on a day-to-day basis despite your claim in that very email stating your "ongoing focus on helping your business to thrive". I imagine there will be a lot of folks shopping around for other options since PayPal thinks it is fine to cut major functional benefits to their customers with no information or basis in doing so.

[Temp20230905v]

I so agree! Or even pay a small fee to have backup funding. This is rediculous. I am already looking for something new. If anyone has any suggestions of anyone else that has backup funding please let me know!

[Lightkin1]

Me too! I hope the huge DIS-Use of PayPal will reverse this new policy! I just started researching other policies. The simplest seems to just use my bank debit card. I am open to other suggestions, if anyone has any.

[Lightkin1]

Me too! This is just horrible! I talked with customer service who said just add the funding directly from my bank. I am usually in a public place such as a restaurant or a store and there is no way I am going to do Financial transactions over the internet in public!

[LThom1212]

Not to mention it takes up to 5 days

[Bob1010]

Instead of transferring from my bank to PayPal, I will simply transfer from PayPal to a special bank account and use the bank debit card for that account. It's becoming more and more obvious that PayPal doesn't want customers or the interest from their money stored in PayPal accounts anymore.

[Temp20230909A]

This is what I am going to do going forward now as well.  I won't be using my Paypal account for anything other then receiving payments.  Paypal has really disappointed me with this new policy. 

[Lightkin1]

Same.

[Maxxit]

It seems like they are trying to build up their holdings with this bait and switch.

[DPNC23]

Agree ... so I won't be using my PP Bus Debit Card for anything anymore. Was so convenient, but so is my bank. So when I get funds into my PP account I will transfer them to my bank. Period. I've been with PP as my merchant processor since 1999. But I guess I'll have to look for new options for that too because what now is the point of having funds flow into my PP account?

[rscottieb]

Time to boycott PayPal!!!