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 have been looking at Stripe, Square, etc., and so far have not found any other processors that have the debit card with backup function 😞 It was such a convenience I never had to worry about checking balances or a charge getting declined. I had all of our business Auto Payments set up on it (insurance, electric, etc.,). Such a pain to have to make card changes for those and will have to always check balances on several accounts.
Thanks I am definitely going to check it out!
I just got decline messages for our electric bills, I changed the Auto Pay but it had already processed. I got the PayPal notifications that I had four debit card declines (blank of course, no way to know what payments were declined). I would not have known until the electric company emailed me tomorrow and then all four of the accounts would have been late with fees. Really **bleep** me right off. We depended on this benefit to manage our businesses and they just don't give a crap. 😠
For many years I have used my PayPal debit card for daily transactions, bills and subscriptions. It was a much more elegant solution than my bank's own debit card which offered no notifications or alerts for transactions and no cashback. Now all of my many accounts that have this card tied to it need to be manually updated and are actively being declined. I do not appreciate how only a SINGLE EMAIL about this change was sent less than a month ago, and had nothing in the email itself alerting to this fact and felt like just another "our terms of services are updating" boilerplate message. Even clicking into the policy update link it was buried as a single bullet note in the bottom, for a very major change and disruption in service. This is bothersome.
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