Bank account verification and cancellation

[Eirhnhmag]

Hello!I'm a new Paypal user and I have a question. Earlier today I made a PayPal account.I added my bank account details,and then I clicked in order to be verified.Then I was told that paypal was goind to place two deposits in my account,so they could verify me.But shortly after that,I changed my mind and decided to remove my bank account completely from paypal. Is paypal going to place the deposits,or the deposits are cancelled after I removed my bank account from my paypal?Also,is my bank going to charge me any fees for these two small deposits?Thanks in advance!

[PayPal_Michelle]

Hi @Eirhnhmag!

Great question and thank you for your post. When a bank account is added, the confirmation process of sending two small deposits is automatic and cannot be cancelled by removing the bank. The purpose of the deposits is to verify that you are the owner of the bank account by providing us the amounts on the "Confirm bank" link once they appear on your statement. Ideally only the owner of the bank account would have access to the bank statement, so it is one of many ways that we help to verify our customer's identity. Most banks should not charge a fee for the two deposits because it is a common verification practice, but we have no way of knowing what your bank's policies are. Ultimately, this would be a question your bank would need to answer, and I apologize that I do not know if you would be charged any fees. 

I hope this helps and thank you for joining the Community!
 

Michelle 

If this post or any other was helpful, please enrich the community by giving kudos or accepting it as a solution.
 

[Eirhnhmag]

Yeah,paypal actually did sent the two small deposits to my account.However,since I removed my bank account from paypal,no I don't have a link in order to write the deposits and be verified.What should I do now?

[PayPal_Olivia]

Hi @Eirhnhmag,

Good question! You can try adding the bank again. If the system allows you to re-add the bank, there will be new deposits sent to verify the bank. Please do not use the old deposit amounts, as those amounts will fail the verification and lock the bank up so it will not be able to be used in the system. Please make sure not to remove the bank account again, as a bank may only be added and removed a couple of times before it is no longer eligible for use in the PayPal system as a security measure.

I hope you're able to get the bank added and confirmed!

Olivia