Quick PayPal question

[GagHalfrunt]

I've had PP for years without linking it to my bank account. I've heard too many horror stories to ever be comfortable with them having access to any of my accounts. It's never presented a problem doing it this way. Now my PayPal account is growing rather large and I'd like to transfer some money out to my checking account. I could get a check, but to avoid fees and having to go to the bank to deposit it I'd rather have it directly transferred. Once I do that is my bank account forever linked to the PP account or will I be able to add it temporarily, take the transfer and then sever the ties between the two once the transfer is done?

 

[meltdown75]

ttt, i'm also interested in an answer to this.

 

[SunnyD]

You add it, it stays there. The only way to remove it is to add a different one, then PayCrap will let you remove the old one.

 

[LeetViet]

I was able to remove my bank account without adding another.

 

[whylaff]

If you do remove it, it just changes your status to unverified.

PayPal still falls under Regulation E, and those transactions are something that can be disputed with your bank within 60 days of receiving the statement with the transaction on it. Once you file a dispute, if it can?t resolved within those 10 days, you have to be given provisional credit by your bank. We always did the credit the next business day, because, nothing happens in 10 days with banks. So, if PayPal did yank money from your checking it account, your bank will just yank it back from them if you have a valid dispute. If you do owe them any money, obviously it doesn?t remove your obligation to pay them, and they could respond to the dispute with validation, but unless it?s a significant amount or you really pissed someone off, that doesn?t happen often.

Also, once you confirm the deposit amounts with PayPal, they never ask for an updated status of the account. They have a new one time use credit card feature that is fun for buying things anywhere online.

But, I wouldn't add it unless you had to.