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So I just bought something using my paypal and only just added my debit card. I never actually transferred funds from my bank to paypal, but it's showing in my online banking that I have funds on hold. Does this mean I still need to transfer money or will it automatically be done for me?
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You never need funds in your Paypal account balance as a buyer. When you purchase an item then Paypal credit the seller for you, this is so there is no delay in the despatch of your item. Paypal will then take the wait for the funds to transfer to reimburse them.
However they only take that 'risk' if you pay...
1. Bank transfer but have a back up card linked to your account as well.
2. Debit or credit card.
If you have option 1 but have no back up card linked then your payment may go as an echeque and you and the seller will have to await clearance.
Advice is voluntary.
Kudos / Solution appreciated.
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You never need funds in your Paypal account balance as a buyer. When you purchase an item then Paypal credit the seller for you, this is so there is no delay in the despatch of your item. Paypal will then take the wait for the funds to transfer to reimburse them.
However they only take that 'risk' if you pay...
1. Bank transfer but have a back up card linked to your account as well.
2. Debit or credit card.
If you have option 1 but have no back up card linked then your payment may go as an echeque and you and the seller will have to await clearance.
Advice is voluntary.
Kudos / Solution appreciated.
- Mark as New
- Bookmark
- Subscribe
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- Sending money in My Money Archives
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