What happens if there isn’t enough money in my bank account to cover a Pay Pal withdraw? November 13, 2009
Posted by Banking in : Personal Finance , trackback
Jack asked:
I moved some money to my pay pal account to buy stuff online, but then found out that most places prefer your bank account in the first place. I was just wondering if I went ahead and spent money off the bank account if pay pal would continue the withdraw? I think they hold it but I’m not sure.
OK how do i choose best answer in yahoo answers then HAHA.
I moved some money to my pay pal account to buy stuff online, but then found out that most places prefer your bank account in the first place. I was just wondering if I went ahead and spent money off the bank account if pay pal would continue the withdraw? I think they hold it but I’m not sure.
OK how do i choose best answer in yahoo answers then HAHA.
Comments»
I think If there is a secondary credit card # on your paypal, it will come from that… if not it bounces…
I think Pay Pal will withdraw the money using an ACH withdrawal which is like an electronic check. If the money is not in your bank account, it is the same as bouncing a check.
Your bank will charge you a non-sufficient funds fee. Depending on banks, that can be $25 to $40.
Pay Pal will make 2 attempts to withdraw so you will be charged fees twice, resulting in a loss of $50 to $80. It is best to leave the money where it is until Pay Pal has finished the transaction.
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I think you can find it in tools on this website