Question about Paypal...

Question

If I recieve money from paypal, and I have my bank account added to paypal. Does the money I recieve go to my bank account? Can then withdraw the money via atm as cash? OR does it stay in the form of "paypal money" and I can only use the money to buy other things using paypal. Not sure if this gets my question accross clearly lol.

Answer 1

It stays in your paypal account.  You can then either use it to buy other things with Paypal, or request that the money be transferred over to your bank account.  You can also request that a check be sent to you.  It's your choice, but it doesn't happen automatically.

Answer 2

You can have paypal and get secured by adding your bank account, and having them make a few small deposits. You become "verified" with these deposits securing the correct info. At that point you can request money from your paypal be deposited. It can take up to 5 business days but I usually get the money faster than that. Then you can do whatever with the money.

Answer 3

Your paypal account is actually a bank account (most people don't think of it as a bank account because its very online based). Money that gets sent to it is stored in your paypal bank account. You then can transfer the money to your 'real' bank account - it normally takes 5 days or so.

Last time I checked, you can transfer your money from your paypal account to your bank account for free when transferring over £50 (in the UK, maybe $100 in the US???).

Your 'real' bank account has to be verified. There is a link on your paypal account page online to get it verified. Its easy and just follow the instructions.

I wouldn't keep large amounts of money in a paypal account because of the interest. I don't think they give any, and if they do it'll be very little. I'd say to keep NO money in your paypal account, since when you buy stuff off ebay you can just use paypal to pay and source the money from your credit/debit card/ real bank account.

Answer 4

The money you receive from paypal will stay in your paypal account until you see fit to transfer it into your bank account. It takes 2-3 days to transfer though. To work around this some people apply for the paypal debit card, which allows you to use paypal account money in a card form, debit, etc , instead of waiting.

Answer 5

bro! of course its real cash money! otherwise it would just be a game online or you wouldnt get wat u paid for..anywayz yes is it...

Answer 6

the money is deposited into your Paypal account and you can request it be transferred to your bank account.  I believe it takes 2-3 business days for the transfer.  I am not sure if there is a fee to transfer the funds but my gut says no.

Answer 7

It does not go into your bank account.   You can subsequently move it there, but that can take a few days.

I think PayPal offers a quicker option to move it but, like all things PayPal, it costs extra!