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Can I open a new paypal account with Savings account number?
 

I have already used the current account with another paypal.

I want to use savings account number of the same bank for my new paypal. Is it possible? Has anyone done this?

Thanks

This can be done if it's done properly

Use the search button

When you enter your bank account info it asks you if its a checking or savings account.
Ive never had an issue using either one in the past.

Do not say savings account!!!!!!

Not in the UK anyway

And do some more research before doing it

Rather different matter in the UK...

Using a savings account requires careful selection of them. (Some are good, some are horrid ;))

It will works for verification... but the problem is that if you get the account verified with the savings account, it may be removed some time later as the direct debit mandate may be rejected by the bank. In that case, the PayPal account can still be used with a second (brand new) savings account to withdraw; you would just leave the bank account unconfirmed and withdraw.

If verification is not important to you at all, then just add the account and leave it unconfirmed. Then you can withdraw to it without any worry of it being removed at some point in time.

I am opening a new sealth paypal for my new sealth Ebay.

So, I need to confirm bank account and add a VCC to raise withdrawal limit.

Can I still use the savings account number?

Why not........?

If I don't confirm my bank account, what is the difference? why will the direct debit mandate be rejected?

Oh come on - Paypal do not like savings accounts because of the level of security. DON'T do this without knowing what you are doing or it will end in tears before bedtime.

You have been warned

Research - research - research

And then you will be fine

Right, so if I enter the account as "current" although its savings, I should be fine?

jenupy2j - research - research - research - suggest you check out TizWoz posts

If you don't confirm it, no direct debit mandate has been submitted. Therefore there is nothing to reject, and consequently no removal of account days/weeks/months/years/whatever later.

If the direct debit mandate is rejected, it is because these accounts were never designed for that purpose in the first class. Banks have current/basic accounts for that, so they see no reason to allow it for savings accounts.

Can you please provide me the link to this post?

Thanks

So what if I choose "current account" and enter the savings account number? Will paypal still find out that its savings account?

It's late - I have to be up at 6.00 am to deal with poultry so this is my last posting tonight

You cannot use Savers because of the DD issue. But you can if you work it right,

Forget about not confirming it.

You do confirm it.

Now, go to the members list, look for TizWoz and read his posts.

That's called research

Spoon feeding finished ages ago and we do not like to put too much info on open forum

Strangely we expect you to do a little bit of work yourself.

The info is there - go and get it

Good Night

One last thing

Despite what you have been advised by others you need to confirm the account to get your Paypal account verified

I am guessing that "others" refers to me... strange as I am just one guy. I already pointed that part out in my first post. So despite what? I said that if verification was not important, just leave it unconfirmed and bypass this Direct Debit issue altogether and just use it for withdrawals. That would avoid any potential headache. Or use the first savings account to get verified and use a second one to withdraw if the first gets removed.

Heres what i do, about 80% of my accounts are savings so when you go to paypal just click its a checking account and it still works even though you use a savings. I transfer money in and have zero problems. Plus they cant ever take any money from accounts if there are saving accounts.

^^^^^^ This is not good. Doing this will limit your account in the USA. You will get the message about bank being linked to suspicious activities never to be able to lift this limitation. You've been warned.

That is NOT Going to work for too long.

GT is the only one making sense, do as she says and research.

:thumb:

Your still not up to scratch, i suggest you follow GT's advise too.

I don't see how my posts don't make sense... :rolleyes:

And what is this supposed to mean? I searched ages ago and that is all that I was ever able to make of your posts... add the saver and leave it alone. Hopefully it won't be removed. If it gets removed, just add a second one?

I searched again and this still all I see? So what is your point? I do remember you mentioning to remove it before it got kicked but this seems to be futile since it doesn't seem to stop PayPal blocking the account from being added again, if they were going to do so anyway. I find that it is much better to just leave it than to mess with it.

what i mean is , your still doing things the old way.

RESEARCH.

And as I say, research has just brought up what I already know... everything that you have said in your various posts was summarised in that one post.

Have you actually tried this on any of the 14 Paypal accounts that you create every week?

I've got 4 paypals with savers added. I took Tizwoz's very helpful advice and verified the paypals as soon as the deposits landed and then immediately removed the bank account. On all 4 paypals the same bank account can be added / removed at will without being blocked.

Yes. In fact the majority of those accounts are used with savers from various banks. But since verification doesn't matter to me I leave them unconfirmed and withdraw. It is far easier for me that way.

When I tried that on multiple accounts it still got blocked. They say that the disallowed it from being added again but were not able to remove the account (as I already removed it...) and that I should login to online banking to cancel the Direct Debit

What you need to decide, and I am saying this to put the WHOLE THREAD back on topic, is what type of savings account you are using?

Why are you not considering a basic account?

The very crux of the matter is this:

what type of savings account AND what bank are under consideration?

With my experience you can use a savings account...I just mark on paypal that it is a checking. Works fine I have only had a problem with one bank and thats TDBANK.
The small deposits to verify didnt go through and flagged that bank account with them. Had to get a regular checking to add to the account.

So yes, just not tdbank lol

Is there a limit to withdraw with unconfirmed bank account? Also, is it safe?

I am using the Current account with another paypal.

It is a Barclays Everyday Savers account.

£500 per month maximum, and £650 per year total.

What do you mean by "safe"? Do you mean to ask if it increases the chances of limitation? Not in my experience.

Are these not the limits for an unverified Paypal rather than withdrawing to an unconfimed bank account?

Im by NO Means an Expert on the UK Banking System and how it works with Paypal, But Im Fairly certain that it Works in pretty much the same way as it does here,,,so,
I have a Dumb Question, Whats the big deal in simply opening a Basic Checking account? this way you do not have to deal with this Savings account issue?,,I Mean it takes the Same Effort/Information to open Either, No?,,and if you are going to that much Trouble, Why NOT just Comfirm and Verify the Account?,,

its not the same here, to open some basic bank account or current accounts it can be harder, there are credit checks and credit scores but not with savers, you can still Comfirm and Verify with savers.

Yes you are right. Once you verify you can go to £1900 and beyond and use unconfirmed accounts just like any other account.


I have heard of some basic accounts having a credit check but never credit scoring. There wouldn't be any point in them existing if they did... they would be just the same as any other current account.


And to slapped's question, many people will still open a load of online savings accounts for the very reason that they can be opened online quickly and easily. For basic accounts you generally need to go into branch, get awkward questions from the staff and then if you are lucky and get the account, wait days to receive the card/pin/account information. So in many ways the online savings accounts are much less hassle.

So is there any way I can add a confirmed bank account? Not even Cash ISA account?

Great advice..thank you GT