One more nail in the PayPal coffin

General
#1

So for years I have had a linked bank account to my PayPal account. I use my PayPal account for purchases that are business related (no food, gas, or any personal usage). Yesterday I went to two different comic shops and both my purchases were declined.

Huh. Plenty of money in my bank account which PayPal pulls from. What could be the reason?

Well I called PayPal and asked. They informed me that as of yesterday, PayPal no longer uses backup sources to pay for purchases, in other words, you can’t have a zero balance and have money pulled from your account to cover your purchases, you must deposit the money into PayPal.

My question for the rep was, “what is my incentive to keep using PayPal?”

He got mad and we ended the call

Paypal is pretty much worthless to me now.

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#2

Banks are cracking down and being more strict on business practices. Loans, overdrafts, etc and such.

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#3

Fixed the title by the way.

Not sure why an overdraft would be considered. Paypal always allowed for money to be pulled from another source to pay for purchases.

Gonna need to figure out a new way to do this. eBay no longer sends money to my PayPal account. I don’t add money to my account. I do not receive any payments to the account because you cannot transfer money out, have to physically go to an atm and pull it out to deposit to my bank account.

#4

When you sell something, Ebay can send that money directly to your bank

#5

Correct. They send to my bank and not PayPal like they used to. Mercari also sends right to my bank. This is more as to why I am looking to do away with PayPal pretty much completely.

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#6

That’s weird. I have a few cloud accounts that pay using paypal and they all charge my linked Credit Card as I don’t leave a balance with Paypal, I’m not in the business of giving them small loans and using my money to invest or re-purpose until I need it.

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#7

When was the last time you used your PayPal card? They told me this change was as of yesterday.

#8

Most are first of month. But yeah, nothing as of past few days.

#9

But I don’t have an actual card. Maybe it’s only those using an actual Paypal card that it requires an actual balance and not used linked accounts.

#10

I’m gonna have to keep an eye on this. Did they tell you when this went into effect?

#11

I can’t find anything on this in my account. I’m going to assume it might be some new weird law that doesn’t allow them to use a physical card as a proxy to linked accounts perhaps? Maybe that’s the reasoning. I would imagine not being about to use Paypal with linked accounts would just ultimately kill them, nobody wants to use Paypal as a bank…

#12

It went into effect yesterday.

#13

Maybe someone can chime in if they buy something online with just linked accounts using Paypal to determine if it’s physical cards only… Cause I’m willing to bet that’s the case now. Buying online with just paypal account and no balance might go through.

#14

I just send someone money with a 0 balance and it drew from my checking account no problem
Are you using a credit card for a G&S payment? F&F is fine, no issues

#15

It’s for the debit card.

#16

I think it’s Maryland. They have all sorts of silly laws.

Seriously, though. It must be for card transactions. I’ve never had a PayPal card. Even if I use PayPal for a purchase I just have PayPal charge a credit card so that I get cash back. Which just seems crazy…I only do this for eBay purchase which I haven’t bought something in a while.

#17

I have a PayPal business debit card. It draws from my PayPal when I buy comics or other items related to my buying and selling of comics as I only use it for that (which makes things easier come tax time). I guess as long as I have a PayPal balance I’m fine? I can’t have it drawn from my bank now, however? I used to be able to get cash from my PayPal account at an ATM, is that still workable?

#18
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#19

Any new updates with this? Is it just a debit card thing?

Fwiw I’m in Canada and just made an online purchase using PayPal that draws from my bank like i always do. No issues and went through fine.

#20

I’ve encountered no issues.

It’s a Maryland thing, apparently. :wink:

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