Transfer From Checking "To comply with government regulations, this transaction has been declined."
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Anytime I try to transfer from my Checking or Savings account (Capital One 360) into my PayPal account I receive this message. I am able to transfer money from PayPal into my bank account without any issues. I don't have another account to test at this time. I get the message "Payment Status: FAILED" on the details page, however, my bank has no record of any attempt at trying to transfer any funds. I called PayPal and they have no information and told me to call my bank, my bank has no information or record and told me to call PayPal. Regardless of the amount I try to transfer, it doesn't work. Does anyone have any information or suggestions? It is very important for me to be able to transfer money into PayPal.
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Add or withdraw money
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I have contacted PayPal and Capital One multiple times in which they deny seeing anything on their end. If anyone knows of what could cause this, i would greatly appreciate the help!
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Its possible your 360 checking account is registering as a savings account or money market account with PayPal. Savings accounts and money market accounts in the US have a limit of 6 withdrawals or 6 outgoing transactions per month. This outgoing transfer rule is called Regulation D (FRB), and its most likely the regulation PayPal is referring to.
You can find more details about how your 360 accounts operate in the 360 account disclosure, under 360 Checking and Sub Accounts.
If you need a PayPal balance, you can fund your account with PayPal Cash, or setup direct deposit.
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