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.
That is because PayPal owns Venmo so this is no shocker, what is a shocker is that PayPal is dumping the feature altogether when there are so many new competitors emerging in the market like CashApp and the like. It's only a matter of time before one of these other companies jump on the opportunity to add this feature since PayPal is dropping it. GIve it time...
@PayPal I use my PayPal business debit card's backup funding often, I'm very disappointed that this is ending on September 12, now it appears that I'll have to transfer money manually. from my Bank account. I really don't want to have to do that. I enjoy getting my unlimited 1% cash back on eligible purchases. I would the PayPal backup funding to come back or have exceptions for people that want it.
I agree! If anyone reading these comments has not reached out to Paypal by phone or through the message center, please do asap! The more they hear from unhappy customers then the more likely they will make some changes. This is what the agent I talked to on the phone told me.
I sure did call. The person I talked to was just a customer service rep. They were completely unconcerned when I told them I probably wasn't going to use it anymore due to their new policy. Not sure if that info will reach anyone right now. They will probably only notice if a lot of people stop using it also.
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