Quick paypal question

Discussion in 'General Discussion' started by NGW, Jun 12, 2011.

  1. NGW

    NGW Rawr

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    Now I no longer have a bank account, and when I do reopen it's not going to be the same one I used with my Paypal account, and I don't really intend on getting a new one for a while.

    If I were to sell stuff on eBay or whatever, I can just have the money in Paypal and use that to pay for shipping and buy whatever else I want online from sites that accept paypal, yes?
     
  2. Red Alert

    Red Alert Security

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    Yes but you are limited to a certain number of transactions and $$ you can pull
     
  3. jorod74

    jorod74 Psycholagnist (Ret.)

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    Ebay:
    this is a rhetorical question.
    but in the year 2 thousand and eleven, in the age of the internet, why would someone NOT have a bank account?

    i would keep an account active as a backup- i have some $$$ in paypal, but when i come across some really great, unexpected deals, i can lean on the account for the spare dough.
     
  4. UnicronHound

    UnicronHound Well-Known Member

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    Ebay:
    I think it also depends on if he notified Paypal of the bank account closing. If he didn't notify them, I believe that it shouldn't effect anything, but I could be wrong about that.
     
  5. NGW

    NGW Rawr

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    Had to close the account or end up in debt. My bank changed policies, used to have no minimum deposit required, they then changed to a minimum higher than I make in a month on average and as the end of the month approached I had to close it or get hit with some fees I could not deal with.

    Made no notification to Paypal, barely used it outside of a couple purchases on eBay and 1 sale I did that had Paypal screw me over and get me hit with nsf fees from my bank (they charged my bank account, which had nothing in it at the time, for the shipping label instead of using the money I had on hold on Paypal from the sale).
     
  6. transtrekkie

    transtrekkie On the level.

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    Fees are why banks suck. Credit unions are better (I'll probably be switching to a credit union soon). There are banks or credit unions that can have free checking accounts with no minimum balance required. Whenever I change accounts or banking institutions I update my paypal information so that transactions can't continue to got to the old accounts. The only time that it should really be an issue is if you still have pending transactions with the old account.
     

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