question about savings account

SLTB
New Community Member

Hello, I am completely new to this, I am thinking of setting up my own paypal account as up to now I have only used somebody else's a few times to pay for stuff from ebay.

I haven't got a credit card or a debit card though, only a savings account.

Can I use my savings bank account to set up a paypal account? I understand I need to have money in it to pay through paypal...

 

If anybody would be kind enough to answer this question, that would be great...

 

Thank you for your time

Login to Me Too
2 REPLIES 2

PayPal_Wayne
Moderator
Moderator

Hi there SLTB,

 

Using a savings account is not something that is possible on PayPal as It's not possible to confirm a savings account. Meaning no funds could be sent from this account to fund any payments.

 

I hope this information helps you

Wayne

Login to Me Too

BruttusRAH
New Community Member

I understand that you can link a savings account, but it can't be verified. This basically means, I think, that you canwithdraw money from paypal into your savings account, but your limits will be restricted.

 

Also, loading funds from your savings account to paypal may not be possible.

 

However, to answer your main questions, you can use a savings account to setup paypal, but it is more difficult with restricted functionality. 

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.