how do i make a direct deposit from paypal to another bank account?

[senecaripple]

i wish to make a direct deposit from my verified paypal account to a new bank account. paypal asks for email addy or phone #s no routing numbers. so, how does one make a direct deposit?
and are there fees for this type of service?
thanks

 

[ACMarina]

I think you need to register the account with paypal and then direct deposit that way. It takes a couple of days to connect, but then there is no fee..

 

[senecaripple]

thanks. would paypal draw directly from one account to deposit to another or do i need money in my paypal account to directly deposit to the other bank?
thanks!

 

[LuxLuthor]

My understanding with PayPal is it is restricted, and linked directly to your one bank account. In fact, to verify that I was linking my bank account, they made two deposits, each under a dollar and required me to verify the amounts made back to them, and the account needed to be in my name.

I don't know if they would allow you to have more than one verified bank account that you can transfer payments sent to you back into your own bank account, or vice versa if you are sending payments to someone.

On a practical basis, I think having more than one bank account setup with PayPal would cause trouble, because it would allow a troublemaker to siphon PayPal payments into their Kenyan account that they opened in your name.

 

[will]

Paypal allows multiple bank accounts, multiple credit cards to be used. You have to set them up before hand to use them. Paypal will deposit two small amounts into each bank account when it is setup. You have to verify the amounts. Once the accounts are setup, you can add or withdraw money ( no charge ) to the accounts. There is always a delay, usually 3 days for each transaction to complete. So, you can add money from one bank account, wait the 3 days, then withdraw the money to another bank account, and wait the 3 days for that money to show up in the second bank account. I don't know if this breaks the Paypal rules if this is done on a continual basis.