Adding money to PayPal balance/ pay by bank account
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Adding money to PayPal balance/ pay by bank accountSo I'm wanting to send some money as a gift via paypal and avoid the fees, but first I need to either add money to my PayPal balance, or pay by bank account.
I was reading this:
https://www.paypal-marketing.co.uk/sendmoney/index.htm
How do I pay for sending money
Depending on what funding methods you have attached to your account, you can choose to pay via your bank account, any balance you have in your PayPal account, or by credit or debit card. However, it's only free to pay by bank account or PayPal balance – there is a fee to fund your payment by card. Please note that currency conversion fees may also apply.
To ensure your payment completes quickly, please make sure you have a valid back-up funding source, so that your payment is not likely to be delayed.
Right now I have just linked my bank account to my PayPal account, and will have to wait 2-3 days before the two small deposites that PayPal made to my account show up on my bank statement. Then I can enter these onto my PayPal account to verify and confirm the linking of my bank account to my PayPal.
Once I have done this (in 2-3 days time), can I then send money as a 'gift' via PayPal? And is this transfer instant? Like as soon as I send the gift via PayPal, will it instantly take the money out of my bank account and transfer it. Or will it also take a few days for PayPal to get the money out of my account, and then transfer it.
Or would it be better to withdraw money from my bank account and put it into my PayPal balance, which takes several days. And then send a paypal gift using my paypal balance?Last edited by v2p; 27-05-2012 at 23:32. -
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Re: Adding money to PayPal balance/ pay by bank accountIt should be instant, AFAIK. As a challenge to your question, though, is there a reason why you want to use PayPal to send money rather than a direct bank transfer, outside of PayPal?(Original post by v2p)
So I'm wanting to send some money as a gift via paypal and avoid the fees, but first I need to either add money to my PayPal balance, or pay by bank account.
I was reading this:
https://www.paypal-marketing.co.uk/sendmoney/index.htm
How do I pay for sending money
Depending on what funding methods you have attached to your account, you can choose to pay via your bank account, any balance you have in your PayPal account, or by credit or debit card. However, it's only free to pay by bank account or PayPal balance – there is a fee to fund your payment by card. Please note that currency conversion fees may also apply.
To ensure your payment completes quickly, please make sure you have a valid back-up funding source, so that your payment is not likely to be delayed.
Right now I have just linked my bank account to my PayPal account, and will have to wait 2-3 days before the two small deposites that PayPal made to my account show up on my bank statement. Then I can enter these onto my PayPal account to verify and confirm the linking of my bank account to my PayPal.
Once I have done this (in 2-3 days time), can I then send money as a 'gift' via PayPal? And is this transfer instant? Like as soon as I send the gift via PayPal, will it instantly take the money out of my bank account and transfer it. Or will it also take a few days for PayPal to get the money out of my account, and then transfer it.
Or would it be better to withdraw money from my bank account and put it into my PayPal balance, which takes several days. And then send a paypal gift using my paypal balance? -
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Re: Adding money to PayPal balance/ pay by bank accountAh thanks for your help. I'm just buying something online for £8 from a cycling forum, and its just easier to pay by paypal and have them post it than me meeting up and picking up the item. I mean, I know there are always risks and stuff and you should never really gift by paypal as a means of buying stuff, and you should never send money to someone you don't know first and expect them to then send you the goods after, but its just like, I know I'll receive the item, and even if I don't, its only £8.(Original post by Illusionary)
It should be instant, AFAIK. As a challenge to your question, though, is there a reason why you want to use PayPal to send money rather than a direct bank transfer, outside of PayPal? -
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Re: Adding money to PayPal balance/ pay by bank accountNo problem and yeah, your reasoning for using PayPal here seems perfectly reasonable.(Original post by v2p)
Ah thanks for your help. I'm just buying something online for £8 from a cycling forum, and its just easier to pay by paypal and have them post it than me meeting up and picking up the item. I mean, I know there are always risks and stuff and you should never really gift by paypal as a means of buying stuff, and you should never send money to someone you don't know first and expect them to then send you the goods after, but its just like, I know I'll receive the item, and even if I don't, its only £8.
