withdrawing funds

[Ciara108]

Hello,

I am completing my accounts and realising for the first time the system of withdrawing monely in lump payments makes it difficult and confusing to manage accounts and invoices as payments dont match invoice amounts

i it possible to set my paypal account to a default situation that it automatically transfers funds into the chosen bank account as and when they arrive into the paypal account? instead of using the withdraw funds option

Many thanks

Ciara

[jfl98]

I'm also keen to know if this is possible as it would be quite useful since I regularly receive payments into my PayPal account where they will sit until I transfer them to my bank account manually.

Alternatively there could be a setting to allow automatic withdrawals to a specified bank account once the PayPal balance exceeds a certain minimum amount for example.  

If these options are not currently available please take them as feature requests PayPal!

Thanks

[PayPal_david]

Hey guys,

Welcome to the Community!

Thanks for reaching out to us regarding this. I'm sorry but there isn't a feature at the moment that will automatically withdraw your money when you have a certain amount in your account. However, there is a feature to have your PayPal balance automatically withdrawn to your bank account each night by setting up Auto Sweep.

To set up Auto Sweep you must:

• Be a Premier/Business account holder.
• Have a bank account added to your PayPal account.
• Have no withdrawal limit.

Before you can set it up yourself, get in touch with us so we can activate Auto Sweep on your account. You can do so by clicking the ‘Contact Us’ link at the bottom of any PayPal page.

If you add money to your PayPal balance from your bank account, we automatically disable Auto Sweep because we don't want your recently added money to be swept back to your bank account. You can turn on Auto Sweep again any time.

I hope this information helps to answer your questions.

Please let us know if we can help with anything in future.

David.

[davidperez0228]

how do i disable autosweep without calling customer service. my account manager is on a sabbatical forever and I cannot get assistance. i am using the new paypal so all threads refer to the old paypal. very frustrating everything

[AaronWroblewski]

Im trying to work out how to turn it on!

looks like they have removed the feature... Atleast from the front end.

I had customer service try to tell me it cant be done so good luck turning it off!

[ANTG1]

Having just contacted Paypal about this, I was told that they will only enable this feature to our new account if we are taking £25k within a 3 month period! Otherwise we are stuck with the manual withdrawal option.

This is completely different to my previous company where this feature was just enabled - although if I remember rightly my previous company subscribed to Paypal Payments Pro and Paypal was the primary payment method and not just a Business Account like the account we just created.