PayPal Business Debit Card is removing backup bank account funding

moorewmla
Contributor
Contributor

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.

 

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277 REPLIES 277

daboneman
Contributor
Contributor
Same here. After September the 12th there will be no reason to even carry the PayPal debit card. Who wants to load money onto the card when you were so used to just using it, and it pulled money from your bank to take care of your transactions? I can buy a prepaid debit card if I want to do that! I just spoke to a representative, and she said that there might be works in the future as for a replacement alternative but she isn't sure. That isn't good enough for me.
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Swonton
Member
Member
They are taking away the main function that everybody uses the PayPal business debit card for. They’re punishing all because of a few bad apples. I did not receive an email and obviously nobody reads through pages upon pages of terms and conditions. It was a very sneaky move. I have used PayPal attached to my bank account for over 15 years and now they’re gonna lose my business altogether because I have no need to use them. If I have to move money all the time to my balance it’s a hassle I don’t need. My PayPal card was always my preferred payment on everything in the past and now I don’t even think I’ll be a customer anymore. Very bad decision on their part and it’s going to hurt their business tremendously.
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WillowDog
Member
Member

same! Such an annoying change.

 

Also, charging me a fee to move money between MY OWN accounts, because they're both business accounts. Ridiculous. Was such a fan of Paypal up until these recent poor choices. 

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melaniesimms
Contributor
Contributor

Same here- I was very dissapointed and shocked when they made this very bad move.  I cant wrap my head around why they would do this honestly.

I will miss the old paypal.

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jolivas
Member
Member

Same here, I never recieved an email and who is going to read trough all the policies.  Why do I need PayPal now if they are no longer doing what they started doing in the first place.

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TheJillster
Member
Member

I called Paypal and asked if I would now have to put money on the balance to cover automatic payments for my streaming services,, etc. They confirmed that I would.
Lo and behold, my Microsoft account was paid this morning but was charged to Paypal CREDIT.
They've been spamming my mailbox for months to sign up for the Paypal Credit Card. 
This was all to collect interest on us all. I mean,, who is going to be dilligent enough to transfer and tie up large sums of money monthly to their debit account? 

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GttrsnpPrss
Member
Member
They’re doing it to rake a fee on transfers to your Paypal balance. Welcome to the clawback stage, where they think they’ve trapped their users so they now bleed them dry for shareholder value. Nice knowing you, Paypal!
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StanleyQ
Contributor
Contributor

This impacts my business as well. I use my PayPal debit card to get the cash-back feature. Since my bank has a debit card, I'm going to move all my vendors, etc. to that card. Goodbye, PayPal.

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FluffyButtsTX
Contributor
Contributor
So, if I cannot rely on a backup account, I just need to move all my subscriptions to my debit account and close this. The cash back feature was useful, and I liked being able to pay online without exposure of my credit card account information. So is THAT going away too??? I have credit cards backing up my transactions too.
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WTHBill
New Community Member

Just received the same notice... if it is true PayPal will go down the tubes, as myself and I am sure others will dump PayPal and use other resources. 

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