s there a purpose of paypal sending of the two payments please ?

4danglia · #1 05-03-2016

Hi newbie question form me and I would appreciate your advice and help.

If i add a bank in Paypal is it important to confirm the bank in paypal with the 2 payments ?

is there a purpose of paypal sending of the two payments please ?

I was considering using a savings account without the two payments

JamesNorth101 · #2 05-03-2016

I don't really see any advantage in doing that to be honest.

davids01 · #3 05-03-2016

They do it to confirm that it is really your account and that you have access to it.

slokor · #4 05-03-2016

I prefer the instant verification method myself.
When they send those 2 small deposits they also pull them out immediately which shows up as funds coming out of your account and back to paypal - this could leak the name of the account holder. Doing it via instant verification bypasses this issue.

GreenBean · #5 05-03-2016

Quote:

Originally Posted by 4danglia

Hi newbie question form me and I would appreciate your advice and help.

If i add a bank in Paypal is it important to confirm the bank in paypal with the 2 payments ?

is there a purpose of paypal sending of the two payments please ?

I was considering using a savings account without the two payments

The purpose of the two payments is for paypal to VERIFY the bank account is yours.

For the UK, ebay actually wants all selling accounts to have paypal as a payment method.

A savings account does not allow the direct debit mandate to work. Avoid this and consider a basic account instead.

Welcome and keep the questions coming as you master stealth.

Play · #6 05-04-2016

Add the bank.

When it prompts you to follow through with direct debit mandate, just click away from the screen.

Bank should be added, just wont be fully functional (wouldn't be anyway considering it's savings account).

4danglia · #7 05-05-2016

Thanks all . i tried a savings account last night and ignored the direct debit part. The number came through and accepted by paypal today. So now i guess i can withdraw money up to £1900 or ther abouts.

Will not having direct debit set up hinder me with paypal in any way? Will i, in time be able to lift the withdraw limit ?

i added a saver last night and ignored the direct debit. this morning i input the number on paypal and went in ok.
Will i be hindered in nay way by not having the direct debit ?
Will I, in time be able to lift the limits ?

Play · #8 05-05-2016

Quote:

Originally Posted by 4danglia

Thanks all . i tried a savings account last night and ignored the direct debit part. The number came through and accepted by paypal today. So now i guess i can withdraw money up to £1900 or ther abouts.

Will not having direct debit set up hinder me with paypal in any way? Will i, in time be able to lift the withdraw limit ?

i added a saver last night and ignored the direct debit. this morning i input the number on paypal and went in ok.
Will i be hindered in nay way by not having the direct debit ?
Will I, in time be able to lift the limits ?

You cannot withdraw using a savings account, regardless of what you do, or don't do.

Edit: You can withdraw.

JamesNorth101 · #9 05-05-2016

Not totally correct @Play

Savings accounts can be used to withdraw funds without any problem, but the DD will always fail to set up. You can still withdraw to the savings accounts though without any issue.

Play · #10 05-05-2016

Quote:

Originally Posted by JamesNorth101

Not totally correct @Play

Savings accounts can be used to withdraw funds without any problem, but the DD will always fail to set up. You can still withdraw to the savings accounts though without any issue.

I meant to say the direct debit mandate will fail whatever you try to do.

Most of my stealth accounts are connected to savings accounts from all major banks, and they work perfectly fine. Sorry for mistake.

realdeals · #11 05-06-2016

Quote:

Originally Posted by Play

I meant to say the direct debit mandate will fail whatever you try to do.

Most of my stealth accounts are connected to savings accounts from all major banks, and they work perfectly fine. Sorry for mistake.

Not true once again, some savers accept dd mandates.

JamesNorth101 · #12 05-06-2016

A few years ago I know that there were a few about, but I not come across any recently that will not kick back the DD mandate back after a few days

In the grand scheme of things it wont matter too much though

GreenBean · #13 05-06-2016

Always easier to use a basic account.

Saves paypal snoping around in your paypal.

realdeals · #14 05-06-2016

Quote:

Originally Posted by JamesNorth101

A few years ago I know that there were a few about, but I not come across any recently that will not kick back the DD mandate back after a few days

In the grand scheme of things it wont matter too much though

They are certainly still around, but you're right to say it doesn't real matter.

realdeals · #15 05-06-2016

Quote:

Originally Posted by GreenBean

Always easier to use a basic account.

Saves paypal snoping around in your paypal.

True but sometimes it is just a numbers game.

Some banks lets you have several basic accounts, some only let you have one. Savers can be a way around that if you need extra accounts.

4danglia · #16 05-07-2016

Hi thank you for fantastic advice

i might have missed a replay to this question so apologies ...

Will not having direct debit set up hinder me with paypal in any way?

Will i, in time be able to lift the withdraw limit just having a savings account and no direct debit ?

JamesNorth101 · #17 05-07-2016

I think you may mean the receiving limits

Yes that can be removed even though a savings account has been used.

GreenBean · #18 05-07-2016

Quote:

Originally Posted by realdeals

True but sometimes it is just a numbers game.

Some banks lets you have several basic accounts, some only let you have one. Savers can be a way around that if you need extra accounts.

Sellers need to plan then.

Work out what a bank can do for you.

UK banks want my fees. I want my choice of accounts.