Can I Spend Money That Is Being Transferred to my Bank Account (Urgent)!

[KFigueroa]

My paypal account is set up so that money I spend will come primarily from my bank account. So assume that my paypal and bank account have $0 each, and x amount of money is added to my paypal. That money is then transferred from my paypal to my bank account which may take up to 72 hours. Will I still be able to spend x dollars from my paypal account and not be negative anywhere, or cancel the transfer withing 2 or three hours from request, thanks for any responses!

[Whac-A-Mole]

if the status of your transfer said 'completed' ,it is too late to cancel.

you can still buy with your paypal account if you ask Paypal to take the fund out of your bank account,Paypal does not know you have zero in your bank account until it tries to withdraw.

ifyou have a credit card linked to your Paypal account,then it becomes instant bank transfer which means Paypal is fronting the money for your purchase and sending a withdrawal request to your bank,it could take 1 or 3-5 days .

if you dont have a cc linked,then your purchase is an Echeck,AND you seller would be notified not to ship until the echeck clears,could be 1 or 3-5 days  .

with a cc linked,if your bank does not have enough fund,Paypal will charge your credit card.

if no cc linked,then after 2 attempts,some said 3,Paypal wil cancel the payment and your seller will be notified payment has been cancelled.

each time Paypal tries to debit your account and you dont have enough,your bank coul charge you NSF ,since PAYPAL will wait 2 days and try again,then you eat more NSF.

it goes on your record and Paypal could remove bank transfer as a payment option,so when you are ready t o pay,you will not see bank as a funding source.

[KFigueroa]

Thanks!

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@Whac-A-Mole wrote:

if the status of your transfer said 'completed' ,it is too late to cancel.

you can still buy with your paypal account if you ask Paypal to take the fund out of your bank account,Paypal does not know you have zero in your bank account until it tries to withdraw.

ifyou have a credit card linked to your Paypal account,then it becomes instant bank transfer which means Paypal is fronting the money for your purchase and sending a withdrawal request to your bank,it could take 1 or 3-5 days .

if you dont have a cc linked,then your purchase is an Echeck,AND you seller would be notified not to ship until the echeck clears,could be 1 or 3-5 days  .

with a cc linked,if your bank does not have enough fund,Paypal will charge your credit card.

if no cc linked,then after 2 attempts,some said 3,Paypal wil cancel the payment and your seller will be notified payment has been cancelled.

each time Paypal tries to debit your account and you dont have enough,your bank coul charge you NSF ,since PAYPAL will wait 2 days and try again,then you eat more NSF.

it goes on your record and Paypal could remove bank transfer as a payment option,so when you are ready t o pay,you will not see bank as a funding source.

---

[Whac-A-Mole]

Paypal is not a bank,it keeps our money in banks under its account in its name.

When you ask Paypal to transfer fund from your Paypal account to your bank,it is no different than you and I doing online banking.

When Paypal said completed,it just mean it has asked its bank to send the transaction into ACH,automated clearing house run by the Fed.

Most banks will gather all these transactions thru out the day and send them all into ACH once or twice a day,imagine there is this Pacific ocean and every one is sending fish to go in different direction and ACH is the traffic police,some go from WFC to BAC,some go from JPM to C.

There are 4 lanes,the fastest lane will cost you money,the slowest lane is free and unfortunately Paypal uses the slowest free lane,

if you want faster,then use a bank debit card instead,the card processing industry  have their own highway system and it cost you 25 cents.