Paypal question. Please help.

Ok. Let's say I have $100.00 in my bank account that I am using for my paypal account. Let's say I also have $20.00 in my paypal account. I want to buy something on ebay for $115.00. Will they take that all out of my bank account & overdraw my bank account? Or will they take what I have out of my paypal account & take the balance out of my bank account? Anyone know? Thank you.

ants

is your paypal account the same as your checking account? In other words if you gave your checking account to paypal then that is what they will draw from.I'm thinking since you said you had 20 in your paypal account then you used another source other that checking and will have to put more funds in to pay for your purchase. Hope I didn't confuse you more.

Yes, I gave my checking account to paypal. I am wanting to use my paypal account to buy something on ebay.

So, even though I have $20.00 in my paypal account & $100.00 in my bank account (which I am using for my paypal account), paypal will just take the $115.00 out of my bank account & overdraw my bank account & I will still have the $20.00 in my paypal account?

Thanks for your help.

ants

You can log in to your paypal account and add funds from bank account, then you wouldn't have to worry paypal account would have right amount,
Hope that helps.

So, if I put enough in my paypal account to cover cost, they will just take it out of there instead of my bank account? And would I have to wait for days or would that money be instantly available?

Thanks again for your help.

ants

I believe it is available fairly quickly within a day. You could go to paypal.com and email them to be sure.

if there is enough money in your paypal account to cover the cost, then it pays instantly..if not then they initiate an echeck which takes 3 to 5 days to process. And no the will not spilt the difference, it is one or the other. Never from both.

Thank you for answering my questions & saving me from losing $30.00 in overdraft fees :) Going to transfer now. Hope I can get all this done before the auction ends :)

ants

Ants , I use my bank acct for pay pal primary . If it doesn't have enough in it they will charge my credit card . The card is a backup . You might want to set yours up that way . digger

My Paypal is set up the same way as digger has it. I use the paypal, to pay for the item(s).
When there isn't sufficient funds in paypal, they use the card number to withdraw the difference, from the checking account.

The only (but serious!) problem I've ever had, was when I thought I had specifically requested paypal to deposit the funds from there, into my checking, which apparently didn't happen like I'd thought.
Then when I wrote a check & used my debit card, my checking account became overdrawn & a couple transactions bounced.
The funds were never transferred from Paypal to my checking, for some unknown reason & therefore I had to really pay for it!

So I don't worry about it, as long as there are sufficient funds in total, in both accounts, for the final cost of what I buy, using paypal.
(There appears to be a small additional % fee, when buying/exchanging into a different currency.)

It's when I used my checking, that I ran into a problem depending on Paypal to make available those funds in that account, to access & cover the cost of doing bank purchases.
Next time I ever transfer funds from Paypal through their website to my bank, I will absolutely make a call24 to be definitely certain the transaction occurred & that the funds have actually been verified as available for use with my checking account.

I do not have a credit card... Never had one, never wanted one. The ONLY reason I have a checking account is so that I can pay for things online. I keep only a small amount in my bank account. I transfered the money back into my bank account & it is still unavailable. Guess I'll just waste some more gas & drive to the bank so I can put $13.00 more in it. Drives me nuts! Thank you all for answering my questions. Guess there is no way around the 'red tape'. It is really frustrating having the money & not being able to use it.

ants

I don't have a paypal bank account . It's like authorizing the electric co to withdraw money from my bank (draft ) to pay my bill each mo . But , with pay pal , if there isn't enough in my bank account to draft a payment out of , they will charge my credit card instead . I don't put money into a pay pal account . That's for people that do a volume of business each month , for instance , sellers and vendors that buy a lot from other sellers and other vendors , to resell .
I paid my house off with credit cards when they offered 2.9 3.9 interest until paid , guaranteed . They can't come back and raise interest on those loans . Now , they are adding that they may change the rates on those new offers that they are making . Mine's locked in .Couldn't be happier with credit cards . Don't misunderstand , I don't make any purchases with them now , the interest went sky high on new purchases

Former eBay buyer and seller here: Paypal takes any funds in your Paypal account first, then from whatever your backup source is. My checking account is my backup source, of course since I don't sell there anymore, it's the ONLY source, LOL!

I also have a credit card that is backup to the backup. You can set up your preferences any way you want.

Ants, if I had seen this thread earlier I would have told you to go ahead, you're covered.

I wanted to order seed from several places. Non of them took Pay Pal. I don't put a credit card number on line. They lost a sale. Wonder why if they are doing business on line why they don't set up for Pay Pal.

Well, my bank transfer went through this evening & I have ordered my camera :) Thank you again for the help. I hope this helps others also.

ants