How to connect a TransferWise bank account with PayPal?

Celda
Contributor
Contributor

I'm a Canadian, and I made a US bank account using TransferWise (<removed>). The reason is because I want to withdraw the US dollars I receive via Paypal, into my Transferwise USD account.

 

The problem is, PayPal uses micro-deposits to confirm the bank acccount. Transferwise told me that their account doesn't receive the micro-deposits, but that they could still provide proof of ownership, i.e. that I control the account.

 

is there any way for me to confirm the account other than via micro-deposits?

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23 REPLIES 23

leatherking
Contributor
Contributor

Hi, thanks for your feedback

the last part of your message is very interesting, I hope Transferwise will succeed

As for the first part, what you describe is what really happened, Paypal could not get its money back

By now they do not even try again but inform that currently I cannot add an account

For the time I will remain  a leatherking without an account

Cheers

 

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ryuchetval
Member
Member

Hi there,

 

I am also facing a similar issue with paypal.

 

I got my 'TW US Bank Account' liked into paypal by phone with customer support, but my problem is that I am not able to withdraw money to this bank account as I don't see it as an available bank account when I try to withdraw the money.

 

When I click on 'Wallet' I can see the bank account and I can see that the status is 'confirmed' even though I didn't confirm it through micro-deposits.

 

I tried to contact both 'Paypal' and 'TW' customer support but I didn't get it fixed yet...paypal said that the 'TW US bank account' is a virtual one and they can't 'track' the money in case they get lost and they don't arrive to me, that's why their system might not display the 'tw us bank account' when I am trying to withdraw money.

 

Did anyone else face such an issue before? Were you able to fix it?

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MarFwd
Contributor
Contributor

Hi everyone,

I also tried adding a TransferWise (UK) virtual account to my PayPal wallet, but that did not work for me either ("We're not able to process your request right now" error).

So people are saying that if you call support you could link the accounts, but then only to transfer money from PP to TW, you still could not use TW funds to pay through PP. Only Canada TW seems to support direct debit for now, so not even sure this is the case for everyone.

Linking the TW debit card also does not work. PP lets you download a pdf with the transfer details to be mailed to a bank to get going with the confirming micro-transactions, but I am not sure on how to proceed or that would work.

I hope once they manage to make direct debit work this won't be an issue any more.

 

 

P.S. TW help says:

When you send money to TransferWise, there are a few types of bank accounts that [TW] can't receive from, because they don't include your name as the sender. These include [among others] PayPal Accounts.
PayPal and borderless accounts [however] can be linked. PayPal sends you two small deposits and you'll need to confirm the amounts so they can verify your account ownership. But, if PayPal is trying to debit your borderless account to pull these amounts back, it won't work. This is called debiting and your borderless account doesn't support it yet. Don't worry, [they]'re working on this feature already!
If linking your borderless accounts to PayPal fails, you can get proof of account ownership by going to the Balances section of your [TW] account, choosing the balance you want to link to, then clicking on More and Download a statement. Because this statement has your name and account details on it, it works as proof that you own the account.

Essentially, [they] cannot receive money from any bank account where the transfer to [them] will not bear your name as the account holder, and will instead be a third party name. [] This is also the case when adding money to your borderless account. [They] can't accept deposits from any account which doesn't bear your name as the sender.

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