What Type of Bank Account Do You Need for PayPal?

Account Types
You can add either a checking or savings account based in the United States. Your bank must support ACH electronic funds transfers, the method of transfer used by PayPal; most banks do, but banks that don't cannot be linked to your PayPal account.
Reasons to Add Your Bank Account
With your bank account linked to your PayPal account, you are considered a verified user, which means you've confirmed your identity. Verified users do not have the same limits on the amount of money they can send and withdraw unverified users do. Adding a bank account gives you a backup method of payment should your PayPal balance be too low to cover a transaction or your credit card declined.
Limitations
There are limitations to the kind of bank account you can link to your PayPal account. The bank account must be in the same name as your PayPal account. It cannot be a foreign bank account, and it cannot be already linked to another PayPal account.
Adding a Bank Account
Log into your PayPal account. On the top navigation bar of the main page, go to 'Profile,' then 'Add or Edit Bank Account.' Click the yellow 'Add Bank' button and fill in the details of your bank account, including the bank routing number and account number. You can link up to eight bank accounts to your PayPal account.