I don't have a bank account but I have money in PayPal.

CapnChkn
Contributor
Contributor

I've started making some money, and I need to open a bank account.  The bank accounts I keep trying to open online ask for an account/routing number so I can send money into thenewly opened bank account.  PayPal does not have any routing number, so I'm wondering how I can send the money from my PayPal account to one of these banks to get the account open.

Login to Me Too
5 REPLIES 5

kernowlass
Esteemed Advisor
Esteemed Advisor

Once you have opened a bank account you then link it to paypal account.

 

To add a Bank Account:

  1. Log in to your PayPal account.
  2. Click Profile near the top of the page.
  3. Click My money.
  4. In the 'Bank accounts' section click Update.
  5. Click Add.
  6. Enter the requested information and then click Add Bank Account.
  7. A bank account can be registered to only one PayPal account at a time.
  8. You can add up to eight bank accounts to a verified PayPal account.

Then when you want to withdraw or add funds to your paypal account you click on the "add"  or "withdraw funds" tab in your paypal account and follow the onscreen prompts. 


Advice is voluntary.
Kudos / Solution appreciated.
Login to Me Too

CapnChkn
Contributor
Contributor

The very first line of my post is:

I've started making some money, and I need to open a bank account.

 

The question is about OPENING A NEW ONLINE BANK ACCOUNT, not how to link the account.  I need to open an account, and I don't have a separate bank to send money to the new bank to open the new account, EXCEPT MONEY I HAVE IN PAYPAL.  Money I've had in this account for 10 years or more, and at least 3 different banks.

 

So, to disambiguate, my question is, "Does anyone know how I can use my PayPal money/account to deposit in an online bank to open a checking account?"

Login to Me Too

kernowlass
Esteemed Advisor
Esteemed Advisor

Read the first line i have written as you have to open an account first and then LINK IT TO YOUR PAYPAL ACCOUNT.

 

You cannot send money from paypal to an account you have not already linked to your paypal account.

 

Oh, and you are welcome.

 

 


Advice is voluntary.
Kudos / Solution appreciated.
Login to Me Too

CapnChkn
Contributor
Contributor

The question, stated in the first post, was/is:

PayPal does not have any routing number, so I'm wondering how I can send the money from my PayPal account to one of these banks to get the account open.

 

Your statement did not address the question, but parroted what is stated in the PayPal help; How do I link a bank account to my PayPal account?

Once you have opened a bank account you then link it to paypal account.

 

This information I'm already in possesion of.  It seems I have a catch-22 here.  I need to put money into a bank account to open it, but don't have the bank account to send money from.  You are saying I need a bank account to link to, so I can send money to the bank and open an account.  That's a loop, I don't see any resolution, and it looks like I'm not going to get a straight answer to a simple question.

 

Oh, and you are welcome.

Login to Me Too

sandypurins
Advisor
Advisor

CapnChkn,

 

You can't use PayPal funds to open the new bank account.  Check the bank's website to see if there are other ways to make the initial opening deposit.

 

~Sandy

Login to Me Too

Haven't Found your Answer?

It happens. Hit the "Login to Ask the community" button to create a question for the PayPal community.