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Bank Accounts General discussions on bank accounts, withdrawing funds, virtual bank accounts (VBAs) and more.

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Old 02-23-2018
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Default Benefits of adding my bank (other than withdrawing)

I have some accounts I put my bank on and most I don't bother. I almost always purchase items rather than withdraw money anyway... the only real difference I notice when I add my bank is that I can more easily buy from the PayPal branded seller that sells gift cards (for some reason most of my attempts to purchase from them result is a "we cannot accept this form of payment" error code, but I've noticed that when I use a PP that I have my bank on, there's no problem, even with low number of transactions.

Other than that, are there any other clear benefits added by adding a bank account? I have a CC on there, an active phone, and never have any complaints or disputes (almost ever- MAYBE one in 700+ or so transactions) but sending invoices, buying electronics, whatever- are there any real benefits that can only be gained by adding a bank account? I have 3 checking accounts, they are all attached to PP accounts, but I'm selling from my work office for a few months on a new account and am wondering if there is any benefit to adding a bank if I'm just going to buy more supplies with the money I take in there anyway.
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Old 02-24-2018
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Default Re: Benefits of adding my bank (other than withdrawing)

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wondering if there is any benefit to adding a bank if I'm just going to buy more supplies with the money I take in there anyway.
The benefits are:
- verified accounts can receive money via Paypal invoicing (technically though you become verified by adding a bank account OR a tax ID)
- certain sellers won't sell to unverified users.. so you'd fix that problem.

That's about it.
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Old 02-24-2018
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Default Re: Benefits of adding my bank (other than withdrawing)

That makes sense, I can't buy iTunes cards from the PP store on there with one account, but I can with another even thought it's pretty new and low transactions. I always thought that was the reason, but wasn't sure. Exactly what I was hoping to find out. Thanks!
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Old 02-24-2018
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Default Re: Benefits of adding my bank (other than withdrawing)

One you're verified, the other you're not. I find it hard accepting payment from an unverified buyer (they're more of a risk); so you may have trouble with that. Other than that the ability to withdraw funds but you don't seem to care about that.
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Old 02-24-2018
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Default Re: Benefits of adding my bank (other than withdrawing)

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Originally Posted by aspkin View Post
One you're verified, the other you're not. I find it hard accepting payment from an unverified buyer (they're more of a risk); so you may have trouble with that. Other than that the ability to withdraw funds but you don't seem to care about that.
Yep, I mostly just buy iTunes with the account I sell from work with. The best (cheapest, most reliable) place to buy them is from the PP store on E*ay but without that verification, my payments often aren't accepted. So then when they have a deal where you can buy a $100 card for $85 and I can't, I get so frustrated.

I didn't realize that's what made the difference between your account being actually "verified" or not. I thought the CC verified it. Thanks Aspkin!
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Old 02-25-2018
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Default Re: Benefits of adding my bank (other than withdrawing)

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Originally Posted by Elliot View Post

I didn't realize that's what made the difference between your account being actually "verified" or not. I thought the CC verified it. Thanks Aspkin!
"Verified" means you've confirmed your identity by either adding a tax ID or a bank account. You become "confirmed" (or rather your shipping address becomes confirmed) when you add a card/VCC. Similar terminology for two different steps in the process.
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Old 02-25-2018
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Default Re: Benefits of adding my bank (other than withdrawing)

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Originally Posted by Elliot View Post
Yep, I mostly just buy iTunes with the account I sell from work with. The best (cheapest, most reliable) place to buy them is from the PP store on E*ay but without that verification, my payments often aren't accepted. So then when they have a deal where you can buy a $100 card for $85 and I can't, I get so frustrated.

I didn't realize that's what made the difference between your account being actually "verified" or not. I thought the CC verified it. Thanks Aspkin!
iTunes still rocking as a service eh?
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Old 02-26-2018
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Default Re: Benefits of adding my bank (other than withdrawing)

Quote:
Originally Posted by phaz0rz View Post
"Verified" means you've confirmed your identity by either adding a tax ID or a bank account. You become "confirmed" (or rather your shipping address becomes confirmed) when you add a card/VCC. Similar terminology for two different steps in the process.
UK users will get confused.

The UK paypal is verified with a bank account.

It becomes confirmed with adding a CC.

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Last edited by GreenBean; 02-26-2018 at 05:34 PM.
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