About account types

[ching14203]

Hello, i wonder what does (Account type: Checking; Status: Confirmed) is? Cus from what i read from the community: "The account type is called "Checking" similar to calling an account current or savings. The bank is not being checked and should be ready for use once it has been added/confirmed.."

Does that mean Checking account cant be use to withdraw money?

Also, is there any other account types?

[sharpiemarker · Accepted solution]

@ching14203 

There are two major types of bank accounts:

Checking account: for every day transactions, may not always earn interest.  

Savings Account: mostly for saving money, earns interest.

“Hello, i wonder what does (Account type: Checking; Status: Confirmed) is?

“Account type: Checking” indicates the type of bank account PayPal says you added. It is called “checking” because it is a type of bank account that your bank allows you to write paper “checks” or issue “checks” electronically to pay for things. The account accepts deposits and withdrawals.

“Status: Confirmed” indicates that the checking account you added is confirmed/verified and ready to use for with PayPal transactions.

Does that mean Checking account cant be use to withdraw money?”

No. It means your “Checking” Account CAN be used for payments AND withdrawals.