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Old 08-19-2013
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Default To Set up Direct Deposit or Not

Hey Everyone!

I just had a question about the Bank Accounts when it comes to savings! BoA - do you have to set a Direct Deposit on the account to be able to see the 2 deposits they PayPal puts into your account, or will they allow it (in normal savings account) without you having to do this! Such a small thing, but I think will help out a lot of people!!!

Thank you everyone for posting
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Old 08-19-2013
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No you do not have to have Direct Deposit.

Just make sure you have the right routing number for the savings account.

For some accounts the checking routing number may not be the same as the savings routing number.
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Old 08-19-2013
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Not 100% sure about this AuctionsDenied - depending on the bank, saving accounts are not enable automatically for direct deposit - I have learned that this needs to be enabled for the microdeposits of PP to go through...
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Old 08-19-2013
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OP did say the bank was BoA.....

Never had to enable direct deposit with that bank.

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Right - wasnt sure if BoA was like that with their savings line of accounts
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Old 08-19-2013
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Simple to use.

Customer Service is good.

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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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Quote:
Originally Posted by Furious George View Post
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.
well I can give you information if you would like that

-The only reason I ask is because with BOA I have ran into few issues where all the numbers were checked and right but the deposits didn't show up, and after like 4-5 days paypal said I needed to call them to verify more information on that bank account... Which I'm not going to call them lolol

Thank you everyone for posting! Everyone here has been super helpful!
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I have 2 Paypal accounts using Bank of America savings and u get a wire and and an electronic routing number be sure when entering into Paypal use the electronic routing number and all should be fine
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Quote:
Originally Posted by Dmshark25 View Post
I have 2 Paypal accounts using Bank of America savings and u get a wire and and an electronic routing number be sure when entering into Paypal use the electronic routing number and all should be fine
Thanks for your post Dmshark25.. here are my choices on my account information to choose from

(paper & electronic)
(wires)

Your saying that I should choose the first one correct, if I am understanding right. The paper & electronic one?

Thanks again!
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On my savings account I have one account numbers and two routing one labeled WIRE and the other ELECTRONIC , I used the electronic one that's the one you need
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Old 08-19-2013
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Thank you buddy! Helps out!
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Old 08-27-2013
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Quote:
Originally Posted by rsot View Post
Not 100% sure about this AuctionsDenied - depending on the bank, saving accounts are not enable automatically for direct deposit - I have learned that this needs to be enabled for the microdeposits of PP to go through...
Have used over 5 banks the last year and NEVER had to enable anything. Don't even have to enable anything for SS check every month. With all due respect there is way too much paranoia on here. There is important stuff to be concerned with.
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