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Right, so I have loads of money in my PayPal...

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  • #46
    Originally posted by tubedogg
    Depends where you go.
    That's true.... I remember being asked for my ID once at Best Buy because I hadn't signed the back of my credit card.

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    • #47
      Re: Re: Re: Re: Re: Right, so I have loads of money in my PayPal...

      Originally posted by Kaizen


      Lol, that is Paypal.
      um no... Wells Fargo is a bank.. and paypal has not affliation with them as far as i know..

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      • #48
        paypal *sux*
        You're my Prince of Peace
        And I will live my life for You

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        • #49
          Originally posted by nuno
          paypal *sux*
          i totally agree. snail mailing checks is much better.

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          • #50
            Originally posted by Jakeman


            i totally agree. snail mailing checks is much better.
            *Jake learns to make creative sarcastic comments*

            Well, there it is.
            - Keeper of the Grove

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            • #51
              Re: Re: Re: Re: Re: Re: Right, so I have loads of money in my PayPal...

              Originally posted by Goldfinger


              um no... Wells Fargo is a bank.. and paypal has not affliation with them as far as i know..
              Then how come whenever I withdraw money from Paypal it is debited to my account by "Wells Fargo and Co". Are they not affiliated ? I find it hard to believe that Paypal just have a merchant account themselves with a bank for their business ?
              Email: [email protected]
              Site: Under Construction

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              • #52
                IIRC, Paypal and X Bank merged to form the company as it is now. X Bank was one of the first pioneers in online banking as they didn't have any branches. This is why they can now offer credit cards, money market accounts and FDIC insurance (provided you don't join the money market account). In essence it is almost like a true bank account. As competition increases they will probably add more banking features and even eventually get a true routing number so it is a bank account. Actually they must have one now but it isn't made publicly available because they don't issue checks.

                When you sign up for a paypal account though, you can make it a verified account in the United States by linking it to an offline bank account. This link can be with any bank. All you are doing is authorizing electronic transfers in the case of an overdraft of your paypal account. So when you make purchases or withdrawals on your paypal account, funds will be removed from your attached account if there are insufficient funds already.

                Wells Fargo does not necessarily have to be a partner with PayPal since you authorized the automatic deposit and withdrawals of funds by linking the account(s) and verifying the account. Automatic paycheck deposits and billpay withdrawals work on the same premise. This is why you must supply both routing and account numbers for these services.
                Translations provided by Google.

                Wayne Luke
                The Rabid Badger - a vBulletin Cloud demonstration site.
                vBulletin 5 API

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                • #53
                  Originally posted by Kaizen
                  Then how come whenever I withdraw money from Paypal it is debited to my account by "Wells Fargo and Co". Are they not affiliated ? I find it hard to believe that Paypal just have a merchant account themselves with a bank for their business ?
                  It's not a merchant account, but not being a bank themselves, PayPal needs services that only a bank can provide. Many credit unions have similar arrangements with commercial banks.

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                  • #54
                    melikes paypal. I have contributed and now i shall return to my daily activities which typically don't consist of contributing to the chitchat forum.

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                    • #55
                      on my statement it always says Paypal Inc of something like that.

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                      • #56
                        I have a couple hundred dollars that come in to the account per month, and send out the same amount out. No problems.

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                        • #57
                          I verified my paypal account earlier this morning, it had $450 in it and i tried to withdraw and it moaned about verification. So now that its over I can now transfer the dollars into my British Bank Account
                          Scott MacVicar

                          My Blog | Twitter

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