Forum

Internet Savings Accounts Without Direct Debit
 

I have been reading the numerous posts on this forum about bank accounts which can be used for Paypal.

A few people have stated that you need bank accounts which allow direct debit.

I may be being a bit stupid here but why is this the case? I thought a direct debit agreement would only be needed if you wanted to add funds to your Paypal account from the bank account.

As I would prefer not to affect my credit rating if possible, and also because it is too time consuming to keep opening current or savings accounts in Bank branches, I am looking into whether it is possible to use internet savings accounts (which do not accept DD) for verifying Paypal.

All I want to use my Paypal account for is to accept payments for eBay sales and then withdraw the funds into my savings account. I do not want to transfer funds from my bank account to Paypal.

Is this possible and will Paypal suspend or limit the Paypal account is the bank returns the Direct Debit mandate?

I would appreciate any advice here.

To verify, PP needs to deposit funds into your bank account.

https://www.paypal.com/helpcenter/ma...981&isSrch=Yes

I know that but can Paypal not transfer funds to an internet savings account in order to verify?

eBay Forums: Paypal "Steps to Remove Limitations" ...

In simple terms there is not really an internet savings account that I know
exists. Banks have online accounts. Savings accounts are no-frills basic
accounts. Thanks to the electronic age, transactions are done via the internet.Because of the volume of transactions, paypal does, it makes a requirement that an attached bank account should have the Direct Debit. This
allows paypal to access your account with the deposits.

If you read the URL above, it also explains why you need to maintain an account
with the DD. Although it is labelled 'Steps to Remove Paypal Limitations, I thought the information would probably help you.

Either I'm not understanding your question, or you are not understanding my answer.
I thought you asked why your bank account need direct deposit activated on it for Paypal verification. The answer to that is that Paypal needs to deposit funds into the bank account (hence the direct deposit part). They can't do this unless direct deposit is enabled.

If this doesn't answer your question, would you please re-phrase it?

Nevermind, I think GreenBean provided the correct answer.

So is there any UK e-saving account with anybank can be used to verify paypal? which uk e-saving bank account cannot? (so that I dont apply account with them).