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Transferring from Paypool

SOLVED
JILLPATRICK
Contributor

Transferring from Paypool

I simply wanted to transfer some money in my Paypool to my bank account.  After following instructions, I received one email saying I've set up a Direct Debit which I do not want and can't see on my bank account another email saying I have "lifted my Paypal transfer limit" - what does that mean?

 

1 ACCEPTED SOLUTION

Accepted Solutions
kernowlass
Esteemed Advisor

Re: Transferring from Paypool

@JILLPATRICK 

 

Go to your online banking direct debits and cancel it BUT you won't be able to use your bank account in the future for a paypal funding source.


Advice is voluntary.
Kudos / Solution appreciated.

View solution in original post

4 REPLIES 4
kernowlass
Esteemed Advisor

Re: Transferring from Paypool

@JILLPATRICK 

 

When you add a bank account to paypal it sets up the direct debit mandate so that paypal can take authorised payments for any purchases you make (or pay your Ebay fees).


No company eg water/electric can take funds from your bank account on a regular basis without that direct debit.
However the amount shown is always the ''last'' transaction / amount that you paid to a seller via paypal.

 

You have lifted your limits as you have verified your paypal account by adding that bank account.

 


Advice is voluntary.
Kudos / Solution appreciated.
JILLPATRICK
Contributor

Re: Transferring from Paypool

Thankyou. However i do not buy things with Paypal. I collected money from people in Paypool for a gift and needed to transfer to my bank to reimburse my bank. I have no need to pay Paypool. How do end the DD? Thanks
kernowlass
Esteemed Advisor

Re: Transferring from Paypool

@JILLPATRICK 

 

Go to your online banking direct debits and cancel it BUT you won't be able to use your bank account in the future for a paypal funding source.


Advice is voluntary.
Kudos / Solution appreciated.

View solution in original post

JILLPATRICK
Contributor

Re: Transferring from Paypool

I couldnt see it amongst my banking DDs but will look again. Grateful