What is "Autosweep"? Does it really exist?

angryman
Contributor
Contributor

When I was deciding whether to go with Paypal, I was told I could set up my Website Payments acct to automatically transfer incoming money to my bank account, like any normal merchant acct does. Best I can recall it was done using something called "Autosweep". However, now that I have signed with PP, I am told there is no way to automatically tranfer funds.

 

If so seems like a major deficiency of Paypal, and just one more indication that PP is not an "industrial strength" solution.

 

I was just looking for Autosweep, and apart from one reference in the forum (telling how to turn it off) I cannot find a single reference to it anywhere in the PP help files and elsewhere. Is there really such a thing, and what does it do?

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3 REPLIES 3

Alex1970
Contributor
Contributor

Hi,  you can have money transferred automatically into your account daily,.  Log into your account, click My Account, go to Withdraw Money.  Scroll down that page to the Settlement Payments information and follow the link.

I've used PayPal since its inception, and use PayPay Website Pro with my web site and I have nothing but positive experiences with it.   Hope that helps. Dale

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angryman
Contributor
Contributor

I can't find the last option you mention, settlement payments info. I have a choice of transferring maney manually, or taking a check. Is it possible they have discontinued automatic deposit, but grandfathered it for people like you who already have it? I found another post here about it, and it also contained menu choices that don't seem to be there anymore.

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Alex1970
Contributor
Contributor

Hi, are you using the 'free' PayPal on your website, I think it is called Standard?  That may be the issue.  I'm pretty sure you can not autosettle daily with the standard PayPal on your website.  I use PayPal Website Pro and that may be the difference.    Dale 

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