Depositing Money From Paypal Into My Checking Account

I recently started selling on eBay and signed up for PayPal. My first item got sold and I am now waiting for my payment. How do I get PayPal to deposit the payment in my checking account? I was told that the payment sits in PayPal account under my name until I spend it. What happens if I don't plan on purchasing anything on eBay yet I would like to receive the payment on what I sold? Can anyone help? I am new to this and I am hoping that someone can advise me. Thanks in advance for any info you can offer me.

Joesgirl from Beverly, MA

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May 23, 20060 found this helpful

Hi, I'm new to using ebay also and signed up for PayPal too. You can provide PayPal with a bank account number and transfer PayPal funds into this bank acount OR you can transfer funds from your bank account into your PayPal account. Transfer charge amounts may vary, I'm in Australia so I cannot transfer less than $15 from PayPal to the bank. Any amount between this and $150 (I think) will cost me $1 to transfer. Anything over $150 is free to transfer. There should be a toolbar on your PayPal account page with options to withdraw or transfer etc...there is also 'help' available. Hope this helps a little : )

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May 23, 20060 found this helpful

Hi there you have to set up your account with your checking account #. Go to Paypal site & pick options or my account & then choose to enter bank info. You can also request a check from Paypal or keep the money in there & spend on stuff you buy on Ebay. Hope that helps

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May 25, 20060 found this helpful

I have my savings acct on file with PayPal so that if I want to pay for an item w/o using my CC, funds can come from my savings. Also then I can have them transfer funds I earned to that savings acct. There is something to click at the PayPal site for them to do just that. It does take a few days tho for the funds to appear in whatever acct you authrorize.

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May 25, 20060 found this helpful

once paypal has your bank/checking acct number just go to my account, there will be a withdraw option, it easy to transfer .

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June 6, 20060 found this helpful

Click on the withdraw tab over at Paypal and choose if you want it electronically sent to your bank account or you want a check sent.

Electronic transfer is free.

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June 7, 20060 found this helpful

In addition to transfering funds to your bank using the withdrawal option, I have signed up for a Paypal debit card. It has a Mastercard logo on it and I can use it as a credit card for free. I prefer to transfer the money over to my checking account but that can take a couple of days so having the Debit card has really helped me out when I really needed the funds now. Information on this is also on the withdrawal tab. Good luck!

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