echeck for ebay fees in saving account

[karimlecavalier]

Hi there, unfortunately my stealth paypal account was not covered and ebay has processed paypal echeck, the withdrawn would be between, 06/10 this month, could the echeck be processed in saving account please? any risk now?

[rsot]

Keep aware that savings accounts tend to have higher fee for a withdrawal. So if the account is verified with a savings account, then the amount will come from that account - some savings accounts allow only 1 withdrawal per month without fee.

No real risk unless you have made the savings account deposit only.

Make sure you have enough money to cover the withdrawal.

Did you verify the pp with deposits to that savings account?

[karimlecavalier]

Originally Posted by rsot

Keep aware that savings accounts tend to have higher fee for a withdrawal. So if the account is verified with a savings account, then the amount will come from that account - some savings accounts allow only 1 withdrawal per month without fee.

No real risk unless you have made the savings account deposit only.

Make sure you have enough money to cover the withdrawal.

Did you verify the pp with deposits to that savings account?

Thank you very much mate, yes of course pp is verified with this saving account, the stealth name is different as the paypal name, hope no manual review comes in place

[Ebayorbust]

Savings accounts in the UK do NOT support a direct debit mandate so Paypal will NOT be able to get the funds from the bank account. The echeque will bounce.

[karimlecavalier]

Originally Posted by Ebayorbust

Savings accounts in the UK do NOT support a direct debit mandate so Paypal will NOT be able to get the funds from the bank account. The echeque will bounce.

That is why I had the doubt, is there any risk for the account please?

[Ebayorbust]

Probably not but there could be issues if the bounced echeque results in a manual review. This is unlikely though. There is also a chance the bank account might be removed from the Paypal.

[karimlecavalier]

Originally Posted by Ebayorbust

Probably not but there could be issues if the bounced echeque results in a manual review. This is unlikely though. There is also a chance the bank account might be removed from the Paypal.

ok understand many thanks

[Ebayorbust]

What am I missing, the echeque will be taken from the account you withdraw to so a mandate must exist.

No, it doesn't.

The direct debit mandate (which 99.9% of UK savings accounts don't support) is to allow Paypal to take money from the account. No direct debit mandate is required to withdraw from Paypal.

[Play]

Regarding DD mandates, this has always been the case for as long as I can remember. PayPal will attempt to set it up, and then it gets rejected by the bank. But everything continues to work perfectly fine. You won't experience issues on the day to day use of the account.

Funding PayPal via your bank account is a no no anyway, as your bank will attach the name on the account when they send it to PayPal. In the event of a manual review, a mismatch in names will become immediately apparent.

[Jigsaw]

Originally Posted by Play

Regarding DD mandates, this has always been the case for as long as I can remember. PayPal will attempt to set it up, and then it gets rejected by the bank. But everything continues to work perfectly fine. You won't experience issues on the day to day use of the account.

Funding PayPal via your bank account is a no no anyway, as your bank will attach the name on the account when they send it to PayPal. In the event of a manual review, a mismatch in names will become immediately apparent.

The DD mandate is now optional and you now get an option to skip submitting one when adding a bank. You still get the 1p deposit sent automatically upon adding the bank, so can still verify the bank and withdraw without problems.