Wednesday, April 24, 2013

How the PayPal Withdrawal to Credit Card Feature Works


Verify Account
You must be a PayPal Verified user to withdraw money from your account to a credit card. Pass the required security checks, such as adding and confirming a bank account with PayPal or getting approved for a PayPal Plus credit card, so the network can identify you as an actual user.
Validate the Credit Card
Not every credit card will work with the withdrawal process, and each issuing bank may have its own guidelines and regulations. Test your card by initiating a withdrawal to determine if your card is an eligible source. Watch or refresh your status to ascertain if any money has transferred.Alternatively, check the card's eligibility by clicking 'Profile' on the Account Overview page and selecting 'Credit Cards' in the Financial Information column. The status will reveal if your card is allowed to be used.
Limits and Fees
PayPal has a minimum and maximum withdrawal amount that varies by country. Each withdrawal will incur a fee of $5 per transaction, and currency conversion or return fees may also apply.
Withdrawing Funds
Transfer your funds from PayPal to your credit card by clicking the 'Withdraw' and selecting 'Transfer funds to your card.' Fill in any required information and click 'Continue' to complete the transaction.
Final Transfer
PayPal typically completes the transfer to your card in five to seven business days. However your issuing bank may have policies that affect the processing time. A credit card transfer will appear as a credit on your credit card account/statement; a debit card transfer will list a credit to your bank account, and a prepaid card transfer will increase the card's balance.

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