Money transfers between two accounts linked to PP

[TiminKY]

I have checking accounts at two banks.  Both are linked to PP.  Can I use PP to transfer money from one account to another?

[Whac-A-Mole]

you can transfer from bank A to Paypal account ,then from Paypal account to bank B,but it would take like ten days,why not go interbanking online instead.

are they both domestic banks ?

[SonomaCraig]

Transferring money from a checking acct to Paypal and from there to another checking acct can take up to 10 days. Can I "pay" myself from an account at one bank to an acct at another bank more quickly?

[PayPal_Olivia · Accepted solution]

Hi @TiminKY and @SonomaCraig,

I'm sorry that there is any confusion regarding the ability to accomplish a transfer from one financial institution to another, and I'd be happy to shed some light on things.

While it may be possible to do as @Whac-A-Mole stated and transfer from one bank to your account and then from your account to another bank, I would strongly advise against doing so. PayPal is not designed to be a conduit between multiple banking institutions belonging to one individual. It is meant to facilitate payments from one person to another, or payments to merchants for goods and services. Using the system in a manner that it is not designed to be used can result in account limitation or payment declines.

Please inquire with your bank to find out if there is a way they recommend to directly transfer funds from that account directly to another bank account. They may have a service they employ, or they can direct you in conducting an ACH transfer from one bank to another.

I hope this helps!

Olivia

[SonomaCraig]

I was hoping PayPal would be a way to avoid the banking fees associated with transferring between accounts. If PayPal offered this service, and offered a structured bill paying service, it could become my one-stop place to do all my banking and bill paying along with the services is now offers. PayPal is partnered with Visa now, and already links to my bank accounts and credit cards. It doesn't seem like much of a stretch for PayPal to become the go-to website for almost all my personal financial transactions.

I know you've thought of this. Should I buy more PayPal stock? Yes I do have some now.