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VISA card "not eligible" for instant transfer of funds

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New Community Member

VISA card "not eligible" for instant transfer of funds

Hi,

 

I live in Iceland and have been using Paypal for my E bay sales. I have used the method of transferring funds from Paypal to my Icelandic VISA credit card without any problems. That was the only option for me.. cause I cannot open a US bank account from Iceland. It just doesn't work. 

 

But now my card is declined and is "not eligible for instant Transfers" and it says "We linked your card but your bank doesn't currently support Instant Transfers". What is going on here? Does anyone have the same problem? Now I can't do anything to access my Paypal funds. This is unacceptable. 

 

Ari 

1 ACCEPTED SOLUTION

Accepted Solutions
Esteemed Advisor

Re: VISA card "not eligible" for instant transfer of funds

@Ari_S_Arnarsson 

This is what a moderator posted recently................

Recent changes to banking in Europe known as SEPA (Single Euro Payments Area) mean that all customers must now use their IBAN’s with their PayPal accounts. In some cases, bank accounts are not able to be added even if they had been previously working with Paypals system.

I would advise that you contact your bank to ensure your IBAN number is correct. Please mention that you are trying to add your bank account to your PayPal account. In some cases, you might receive a slightly modified version of your IBAN from your bank.


Advice is voluntarily given.
Kudos / Solution appreciated if I helped you.
2 REPLIES 2
Esteemed Advisor

Re: VISA card "not eligible" for instant transfer of funds

@Ari_S_Arnarsson 

This is what a moderator posted recently................

Recent changes to banking in Europe known as SEPA (Single Euro Payments Area) mean that all customers must now use their IBAN’s with their PayPal accounts. In some cases, bank accounts are not able to be added even if they had been previously working with Paypals system.

I would advise that you contact your bank to ensure your IBAN number is correct. Please mention that you are trying to add your bank account to your PayPal account. In some cases, you might receive a slightly modified version of your IBAN from your bank.


Advice is voluntarily given.
Kudos / Solution appreciated if I helped you.
New Community Member

Re: VISA card "not eligible" for instant transfer of funds

I am having the exact same problem and my only option to link a bank account is to link to a "US Bank account", I have no possibility to open a US bank account as I reside in Iceland. 

I have been transferring fees to my Visa cards for many years from PayPal without problem but now it is suddenly "not eligible" ? 

 

So I am a little bit confused about this being a solution, am I missing something ?