PayPal Business Debit Card is removing backup bank account funding
I am not sure I am posting this in the correct location but we just received an email from PayPal informing us that starting September 12th the backup funding from our bank account to our PayPal Business Debit Card function is going to be removed from ALL PayPal accounts. I called and spoke with a wonderful customer service rep Lori who spoke with her supervisor (and they had to speak with their supervisor). Apparently no one had informed them of this major change in PayPal business account functions.
We really rely on this benefit as we are fully self-employed with three businesses and live in a very rural area. The Debit Card backup funding gives us the peace of mind to know our accounts are running smoothly and we don't have to constantly check balances. Ours is a perishable product business and our sales are cyclical on a weekly basis, we don't have customers making purchases every day of the week.
Bottom line: booooooo to PayPal!! You just made our businesses HARDER to run on a day-to-day basis despite your claim in that very email stating your "ongoing focus on helping your business to thrive". I imagine there will be a lot of folks shopping around for other options since PayPal thinks it is fine to cut major functional benefits to their customers with no information or basis in doing so.
I got that email too, as I'm sure we all did. Barely a month's notice no less. And so end my many years long relationship with PayPal. This makes my life just a little harder, but at least I was wise enough to have signed up with other payment options.
I didn't get an email, unless it was one of the ones with the logo and nothing else.
Last week I was using it for my business expenses, then today I get declined and come here to find out why.
Guess I'll quit using it. The last several years I have had increasing issues using the card, all resulting from their clawing back every penny they could (which is understandable), often at my expense (which is not).
Guess I will move all my business transaction/accounting to their competitors. No more occasional NSF issues when they do weird accounting tricks like taking from my bank, but not replacing it when a return is made, or debiting from the wrong account when some change is made in their backup policies.
And I won't have to look forward to the "who got some cash back?" like I'm some kind of good dog emails anymore. Thanks, Paypal. Once upon a time I earned north of 6% when you were my money market. now I'll earn something by going elsewhere.
I got the email too. No more using bank back up? So, if we have $50 in our paypal account and want to buy something that costs $60 we can't use our paypal debit card account??? OMG, are they kidding? That being the case, after decades of using paypal I will now immediately stop using it, dump it, and sign up for a debit card from a company that does offer/allow bank back up.
Haven't Found your Answer?
It happens. Hit the "Login to Ask the community" button to create a question for the PayPal community.
- Business revert, Can't trnasfer funds in Managing Account
- Can merchants in Sri Lanka receive funds to their PayPal business accounts? Thank you. in Transactions
- I want to remove my business account from my personal account. How do I do this? in Managing Account
- Need to provide business documents but not a business! Funds are locked in Security and Fraud
- Does closing a business account bring the funds over to the personal account? in Managing Account