Add a Savings Account to PayPal

PayPal is an online merchant account company that allows account holders to accept, withdrawal, and make payments via a secure Internet site. This is widely used by eBay buyers and sellers alike as well as countless other e-commerce sites. It is the most widely used online account company for both international and U.S. users.

Steps

  1. Go to www.PayPal.com.
  2. Log into your PayPal account by entering your email address and PayPal password in the appropriate fields in the "Account login" box to the right of the PayPal home page. Make sure the drop down menu under the PayPal password field has "My Account" selected.
  3. Click on the yellow "Log In" towards the bottom of the "Account Login" box.
  4. Select the "Profile" tab under the "My Account" section of your PayPal account page.
  5. Scroll down and select the "Add or Edit Bank Account" option. This will direct you to your "Bank Account" page.
  6. Click on the "Add Bank" button. This will take you to the "Link your bank account" page.
  7. Select the "Savings" account option.
  8. Enter your bank account information. This information will include both your routing number and account number. These can be found on one of your checks linked to your specific bank account.
    • Routing Number: The number on the bottom left hand side of your check is your routing number; locate this number and enter it into the "Routing number" field in the middle of the "Link your bank account" page.
    • Bank Account Number: The number on the bottom right hand side of your check is your account number; locate this number and enter it into the "Account number" of the "Link your bank account" page. At the end of your account number, there is a "7" listed on your check in the account number area. Without using any spaces or dashes, add this "7" into the "Account number" field directly after your general account number. This "7" designates the savings account portion of your bank account.
  9. Enter your bank's name in the "Bank Name" field.
  10. Press the yellow "Continue" button located at the bottom of the screen. This will take you to the "Confirm your bank account" page. In this page, you can either choose to "Confirm Instantly" by entering your account number and access codes. You can also choose the "Confirm in 2-3 days" option, which deposits 2 separate, very small deposits into your given account and asks you to verify them by transferring entering and transferring the exact same amount back to PayPal. These deposits will be less than $1.00 and are merely forms of confirming your bank account to your PayPal account.



Tips

  • When entering your routing number in the appropriate field, PayPal may already recognize the bank routing number and automatically input your bank's name for you.
  • When typing in your bank account number in the "Account number" field within the "Link you bank account" page of you PayPal account, ending your account number in a "6" (without using any spaces or dashes) designates that this is your checking account.
  • You can select to use either your checking account or savings account as your primary account within PayPal by going to the "Profile" tab in the "My Account" section of PayPal, selecting "Add or Edit Bank Account", and clicking the "Make Primary" link on the right hand side of the appropriate account you want to be primary. You can only do this once PayPal has confirmed your bank account.

Related Articles

Sources and Citations

Retrieved from "https://kipkis.com/index.php?title=Add_a_Savings_Account_to_PayPal&oldid=350307"