Paying from bank account or Paypal account.

[Bernarada]

Hi everyone

As much as i try to figure things out, I remain confused—yeah, I'm a newbie.

I just joined Paypal. I linked a bank account and credit card, then I made my first transfer from the bank account to my Paypal account. But I'm not clear about how payments methods work. Which is the fastest ?

The transfer into the Paypal account will take a week or so. But then, I read that I can make payments straight from the bank account. So, does that mean that I can start to use Paypal that way straight away, without delay, and if so, what's the point of transferring money first to my Paypal account ?

Are there limitations—time-wise or otherwise—in paying from the bank account, rather than the Patpal account ? 

My concern is efficiency. I'd like to be able to make online purchases right away, rather than have to wait a week or so for the transfer to be done, than another week before getting the goods by mail. . . 

I'd appreciate any support.

Thanks, B.

[kernowlass]

OK first as a buyer you never need funds in your paypal account balance to pay a seller.

If you have a bank account linked and verified and a credit card linked and verified then you can pay instantly.

What happens is that when you pay a seller, paypal will CREDIT the seller for you and then paypal will take the wait for your funds to transfer from your funding source to paypal.

If you fund it from a bank account then paypal take the payments from your bank account from 2 hours up to 3 days after you have paid but as they have already credited the seller for you then your item shoiuld be on the way.

Paypal will always use your bank account unless you have funds in your paypal balance BUT if you want to fund it via a credit card then you can click on "change" during the payment process and select your card instead.

Hope that helps.

[Bernarada]

Thanks Kernowlass, that WAS helpful.

So, if that's the case, what's the actual point(s) of adding money to, and using, one's Paypal account ?

The only difference I can see is that, while as you wrote with a bank account it'll take 2 hours to 3 days for a payment to be deduced—which would mean that one needs to be careful about the timing of purchases, if one doesn't want to have anything billed on the credit card as it's the next default source—with the Paypal account, one sees immediately the amount being deduced, which makes it easier to know where one's at with the funds one makes available for purchases, and thus easier to manage everything.

Does that make sense ? Any other advantages in funding and using the Paypal account ?

Thanks again, B. 

[kernowlass]

You only need to add funds to your paypal account if you are a seller that has had to refund a buyer and needs to clear a negative balance.

Or if you are a seller your funds go into your paypal balance and then when you want to you can withdraw them to your bank account or leave them there to "spend".  

Your "summary" was spot on and some folks like to add funds to their paypal account to keep a check on their spending but there is no requirement to do it that way.

Do you mean the advantages of using a paypal account "balance"? If so then what you have already said pretty much is the only advantage.

I have my bank account linked and my credit card but i ALWAYS click on "change" during the payment process and select my credit card for added protection.....but thats just personal choice.

[Bernarada]

Thanks again, Kernowloss. I appreciate your input a lot.   

I mentioned it. . . Just to be clear, am I right to say that when you make a payment through the Paypal account, there is NO delay in the transfer of the money, meaning it's substracted right away and therefore shows right away—as opposed to the delay in that when using the bank account ?  

I understand—having read all kind of accounts of people's experiences with Paypal—that most want to use their credit card. For personal reasons, I'd rather not, which leads me to have to clarify how it works through a bank account and/or a Paypal account. 

Thanks again for your support, B. 

[kernowlass]

There is no difference.

When you pay a seller > paypal credit your seller so that you get your item more quickly.

If you have funds in your balance then they get paid at once, if you fund it from your bank account they still get credited at once as paypal take the wait for your funds to process to from your funding source.

So its only paypal that waits, the seller gets credited instantly however you pay.

[Bernarada]

I got that. I was more focussing again here on how fast the withdrawal of the money, when you make a payment, shows up in one's account—between a Paypal account and a bank account, as I mentioned before—so as to be able to keep a clear track of where I'm at with purchases and not have Paypal default to the next source of funds—in my case, the credit card.

Things ARE getting clearer, and I owe part of that to you. Thanks again !   

[kernowlass]

think i understand you.

takes from 2 hours - 3 days to leave your bank account to go to paypal.

but the transaction shows in your paypal account instantly.

[Bernarada]

Right. While not only the money spent on the Paypal account registers right away, but your account actual balance also shows up instantly with no delay at all, right ?

I'm still asking, though I know this is right—or do I ? 
 

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