Tuesday, March 26, 2013
How to Transfer Money From PayPal Faster
1. Apply for a PayPal debit Card. The card is sponsored by MasterCard and works like a normal bank-issued debit card. Certain requirements, such as a 'verified account,' minimum spending habits and up-to-date account information, apply. If you have more than $5,000 in transaction history and no outstanding issues, PayPal usually issues a card without hassle. Once the debit card is issued, it can be used to withdraw up to $400 a day from nearly any ATM. Check with the ATM provider for usage fees.
2. Make a payment to someone who can provide cash. Use the 'Donate' or 'Make a payment' feature to send money to someone else's PayPal account, then have that person give you cash. Someone who has a PayPal debit card can extract the cash from an ATM, but bank fees could apply.
3. Purchase an item online, then return it to the physical store. With quick shipping options, the item could arrive the next day and most of the time will include an invoice or receipt in the packaging. This serves as proof of purchase for returns. Most stores, including Walmart, will accept returns in this manner. Although this does take longer than the methods mentioned above, it can still take considerably less time than waiting for a bank transfer to complete. Check with the store in question to ensure that its return policy allows this type of return. Without a PayPal debit card, the refund could be in cash or store credit.
4. Transfer the money from PayPal to another online service that allows instant bank transfers or wire transfers. Some services, such as Xoom (xoom.com), can transfer the money faster and offer debit card services as well. Check with local and national laws to ensure that these services are available and that they allow cash withdrawals.
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