This is essentially direct deposit. Paypal is directly depositing money into your bank of america account. You do NOT have to set up payroll direct deposit. Some banks will give you small perks if you set up your payroll checks to be directly deposited into your bank. Nothing has to be done on the banks side to set up direct deposit, it's already there.
When you give paypal this information they're setting up the direct deposit on their end.
The bank does nothing but receive the money. If I had the routing number and account number I could directly deposit money in your account as well.
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