Paypal info?

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Posted By: Dave F

I just made a rather large purchase on ebay. The seller who is on this board requested check or money order, no paypal..which isn't a problem at all..doesn't matter to me how anyone wants payment..

here is my question...i logged into paypal this morning to transfer the money from paypal to my checking account. i then realized my account was set up for a $500 limit of withdrawels monthly....I did however go through the process of "upgrading" to get the money out....

basically it says it will run a small charge to my bank account and then I'll be able to look at my online banking statement and have to verify a four digit code at that point for paypal...

will this take three or four days to verify that code, plus another three or four days for the actual transfer to take place?

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Posted By: Matt

it will take 3-4 days to get to your bank account and then you can enter tose numbers and be instantly verified online.

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Posted By: Dave F

oh ok..so once you verify those four numbers the money is instantly there? at least that would be nice.

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Posted By: Mark T

sometimes it will only take 1 or 2 days. Of course depending on your bank. And yes, as soon as you verify then it will be there.

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Posted By: Matt

I'm not sure we're talking on the same plane - Paypal requires a verification stage by which they wire some nominal fees (like 0.86) from your bank account to make sure it indeed is a valid account (they return the money). That takes a few days. Then you must go online and input into the verification page the exact amounts they took from your bank account. Once you have done that, you are instantly verified and can make instant Paypal transfers to other Paypal users accounts.
In general with Paypal if you want to withdraw money from your Paypal balance into your bank account, that also takes a few days.
What you may want to consider is getting the Paypal credit card which would you allow you to pay for real world things (as opposed to virtual things) in real B&M stores directly from your Paypal balance.
Clear?

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Posted By: Mark T

I think that is true when you are new or changing banks that are stored in your account, but if you upgrade to premium account then they must verify again.

I am not 100% sure because i did this a while ago.

Mark

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Posted By: Mark T

I found a phone # for you....


1-888-221-1161

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Posted By: Dave F

Matt, I was just talking about the upgrade to be able to withdraw more than $500 from my account at one time. I've had the paypal account. The way it was set up now I had a $500 monthly limit.

Its usually not an issue, just needed it done this way to cut the seller a personal check with the money, and was hoping it wouldn't take longer than the usual 3-4 business days. Sorry for the confusion.

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Posted By: Dave F

Thanks Mark

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Posted By: Matt

One trick - I'm not sure how big a dollar amount you're talking, but in the past, I've done several sub $500 transfers one after the other to get to the larger amount I needed. That was 2 years ago, so they my have stopped that now...