I apologize if this question has been asked before. :)

I do not have a Paypal account. I am just curious though, can PayPal withdraw funds from our bank ? Or only the funds inside the Paypal account, right?

Thanks. :)

If you connect it to your bank account it can...

I think you need a Paypal account though. For some merchants, they can accept credit card payments without the consumer being a member.

With a bank account - Paypal usually deposits a couple of cents to make sure it is your bank account. (I might be getting this confused with being verified though.)

BenEDH,

How can PayPal withdraw the money from your banking account without you authorizing it at the bank?

I have heard of Paypal taking money from a bank account in the USA without authorization, but usually you can get it back if you act quickly.

In Europe, this certainly isn't possible.

For more information, visit a website called Paypalsucks.

Actually in the United States, it is easier to take money out of a bank account than deposit it electronically

lawine,

I have checked that web site already. I think that the competitors are trying to throw mud at PayPal. I do not say that PayPal is the best, I have heard some bad stories from their customers regarding handling complaints, but not that they did take the money from the bank without the authorization.

But anyway I doubt they can take the money out from my German Bank account.

Maybe anyone had that kind of problem and wants to share something?

Originally posted by maxo
..... Maybe anyone had that kind of problem and wants to share something?
That's what I was trying to say. :) Can they?

Thanks. :)

PayPal can take money from your bank account yes.

1st) You add a bank account to your paypal (routing number, account number, etc...)

2nd) PayPal Credits in your account 0.XX cents

3rd) You confirm the amount.

4th) After the confirmation, paypal can take money from your bank. It's called echeck. Once you buy something and choose to pay with funds (Bank Account) PayPal will issue an ACH and transfer money from your bank account - You don't need to approve but paypal does clearly say that it will take money from your bank if you choose to do so.

Paypal is an IPSP. And then you have a merchant account. You give both a checking account number. If you owe the company money - they are going to get it back.

On Paypal - if you do not have any money in your Paypal account and someone does a chargeback to you - do you think Paypal (or any company) is going to pay your bill if they do not have to? Paypal will attempt to take the money out of the checking account or even the Visa / MasterCard that is attached to that account.

Paulo, coreybryant:

Thanks. :)

Originally posted by maxo
lawine,

I have checked that web site already. I think that the competitors are trying to throw mud at PayPal. I do not say that PayPal is the best, I have heard some bad stories from their customers regarding handling complaints, but not that they did take the money from the bank without the authorization.

But anyway I doubt they can take the money out from my German Bank account.

Maybe anyone had that kind of problem and wants to share something?

Don´t worry, we are not in the USA here. They will not be able to withdraw anything from your German bank account without written permission. And if they do you have the standard 6 weeks to do a chargeback (Lastschriftrückgabe). With most German banks (Sparkassen for example) you don´t even have to call the bank but can do the chargeback of any "Lastschrift" online and confirm it with a TAN/PIN, without any questions.

What they can do though is send you to collections, of course.

Every bank is different I guess. I am in Canada. I am not so sure about withdrawing rules. I should talk to my bank about it. :)

Originally posted by BleedingGum
Every bank is different I guess. I am in Canada. I am not so sure about withdrawing rules. I should talk to my bank about it. :)

not in Germany since there is a binding law about "Lastschriften". Just the way how you can charge them back is different from bank to bank here.