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Are Savings Accounts good with paypal?
 

I am running out of banks that don't check my history with checksystems when opening a new checking account.
My story is that i have a bad history with US bank and an old checking account. I have used lots of prepaid cards, kroger and greendot and some others including banks that don't check your history with checksystems.

So i am starting to open Savings accounts but would like to know if they work to verify and withdraw with paypal.

Tldr....will savings account work to verify and withdraw with payal, thanks

From one individual user: I linked my PayPal to a savings account and had no problems confirming it and using it.
This is in Canada, but I can't see any reason why it'd be different in the U.S.

I was using an hsbc saving account I had with paypal and I did more than 500 dollars of transfers and it was fine. When you add a bank account to paypal it gives you the option to add a checking or savings account so yes its fine.

No problems at all. Doing it quite a bit right now.

Savings will work just as good as a checking.

If you are in chex systems you wont be able to open many savings either.

I Already have opened an account with capital one and ally bank, plus researching other online ones. I just need to make the deposit. And a local credit union said as soon i pay off US bank i can open one there also.
Thanks guys for all the info, cuz i don't want to use those prepaid cards again.

If you pay off the US bank you will be good to go as soon as Chex updates which is usually within 30 days if not sooner.

Good luck.

Did you have problems with the prepaids?

Not that I have problems with the prepaids, its that I have used up lots of the prepaids. Just with greendot I have 5 accounts opened, and plus they only allow to withdraw $500 per day at max. I dont want to get shut them they the prepaids.

Don't savings accounts in the US typically limit the number of transactions you can make in any one period?

Yes, federal law limits you to 6 transactions/withdraws per month.

The way around this is to let it build up to the amount you want to withdraw and keep track of the count so you do not go over it. If you do they will close the account.

I use a few savings and let the money sit until I get to a certain amount and then withdraw. I never go past 5 in a month. No red flags and no issues needed.

IIRC, Paypal cannot identify whether if the account that you've added is a saving account or checking account. The option is there solely for your own remembering.