Saturday, June 1, 2013

How to Send a Payment Through PayPal Using a Bank Account


1. Log in to your PayPal account. A menu will appear across the top of the browser window, with two rows. On the second row is a link called 'Profile.' Hold your mouse cursor over the 'Profile' entry until the menu appears.
2. Select 'Add or Edit Bank Account' from the menu that appears, and click the link. This will take you to a new screen. At the bottom of the screen will be a button that says 'Add Bank.'
3. Click the 'Add Bank' button. The screen will update. Select whether you want to link a savings or checking account to your PayPal account, then enter the routing number, which is a 9 digit number on the lower left hand corner of your checks, and the account number. Although your routing number will be the same for your savings and checking accounts, the account numbers will probably be different. Talk to your bank for specific account information.
4. Click the 'Continue' button. You will be asked to make a confirmation on a new bank account. PayPal will make two deposits to your account over a span of two to five business days, and you'll be asked to confirm the amounts. Once the account is confirmed, it is linked to the PayPal account.
5. Transfer funds from your bank account to the PayPal account by going to the 'Add Funds' link, and selecting 'Transfer From Bank Account.' This will allow you to transfer money from your bank account to PayPal by Electronic Funds Transfer. Select your bank account from the drop-down list, and enter the dollar amount to be transferred in, then click 'Continue.' You will be asked to confirm the transaction on the next screen, and will get an email notification stating the amount and the time of the transaction. A similar procedure can be done to transfer funds from your PayPal account to your bank balance, by using the 'Withdraw Funds' link.
6. Click on the 'Send Funds' link at the top of the browser window to send funds to someone with a PayPal account, after the funds have been transferred from your bank account.

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