receiving money

zdechlina
New Community Member

Hi, we are new on ebay, and we have sold already a few things there...and ofcourse a buyers paid for their items.Now we are confused, because we not sure how to receive money, on our Paypal account is shown that we have received a payment...but will those money go on our bank account???because it's more than a week and money are still not there..in our bank, so please could someone be so kind and little bit explain me how is it work???Just give me a simple advice.Many thanks Lenka

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3 REPLIES 3

PayPal_paula
Moderator
Moderator

Hi zdechlina,

 

When you recieve a payment in to your PayPal account the funds are added to your PayPal balance. If you then want to use them to pay for items you wish to buy you can leave them in your PayPal balance. If you want to have the funds in your bank account you must initiate a withdrawal to request the funds to go to your bank account.

 

To withdraw funds to your bank account please,

 

To withdraw funds to a UK bank account:

1. Log in to your PayPal account at www.paypal.co.uk
2. Click 'Withdraw' at the top of the page.
3. Click ‘Withdraw GBP faster to your bank account’ or ‘Withdraw funds to your bank account'.
• The faster withdrawal option offers a quicker service (complete in 1-2 working days) includes a fee of £5.00 per withdrawal
• Regular withdrawals (complete in 2-3 working days) to banks in either the UK or US are free of charge
4. Enter the amount to withdraw and choose the correct bank account, then click 'Continue'.
5. Review the details before completing.
• For ‘Faster Withdrawals’ enter the ‘Wire sort code’ in the required field
6. Click 'Submit'.

 

Faster withdrawal of funds can only be used to withdraw funds to a UK Bank account.

 

Please make sure your bank account information is correct before attempting to withdraw funds from your PayPal account. For example, if your name is James Patrick Smith, but your bank account is in the name of 'J P Smith,' you would need to enter 'J P' as your first name when adding the bank account.

Note:
• If your attempt to withdraw funds fails, we may charge a fee of 50p in the UK to cover the costs of the returned bank withdrawal. Additional bank fees may also apply. Please contact your bank for details
• Your bank account must be denominated in your local currency (British Pounds) for your withdrawals to be successful

 

I hope this helps

Paula

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frid
New Community Member

can payments automatically go to bank?

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PayPal_Siobhán
Moderator
Moderator

Hi there frid,

 

No, funds will automatically go to your PayPal balance. You then need to initiate the withdrawal to your bank account.

 

Siobhan

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