Paypal Money to my Bank Account

Discussion in 'PayPal' started by Sadesue, May 24, 2009.

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  1. #1
    Hello,

    Once I have a paypal account, can I deposit money from paypal directly into my bank account free or does paypal charge me?
     
    Sadesue, May 24, 2009 IP
  2. Dhaval1983

    Dhaval1983 Peon

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    #2
    Yes, you can directly transfer your paypal money to your local bank account. paypal do charge for these sort of transaction. Just go to the FEE section at paypal website.
     
    Dhaval1983, May 24, 2009 IP
  3. cooliobook

    cooliobook Peon

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    #3
    I think they charge 0.4% or so per transaction
     
    cooliobook, May 24, 2009 IP
  4. RightMan

    RightMan Notable Member

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    #4
    Your location says you are based in US and Paypal gives the privilege to US citizens to withdraw directly from their PP account into their US bank accounts, completely free of charge. :)

    Hence, you would get the full money with out any fees or charge deducted! :cool:

    Regards,

    RightMan
     
    RightMan, May 24, 2009 IP
  5. Platypus

    Platypus Peon

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    #5
    Yes, PP > Bank accounts are free!

    Paypal only charges for transactions sent/recieved.
     
    Platypus, May 24, 2009 IP
  6. SeattleCPA

    SeattleCPA Peon

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    #6
    RightMan and Platypus are right. (In my little ebusinesses, I collect the money with PayPal and then transfer into my account every so often.) BTW, the transfer takes a few days.

    Because I'm an accountant, can I offer two related bookkeeping tips? (1) I'd setup a real accounting system with something like Quicken or QuickBooks and, within that software, setup your PayPal account as a bank account. (2) Do the automatic download of transactions from PayPal into Quicken/QuickBooks if your transaction volumes are significant...
     
    SeattleCPA, May 24, 2009 IP
  7. Sadesue

    Sadesue Peon

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    #7
    ALL,
    Thank you for the information... Have a great day~
     
    Sadesue, May 25, 2009 IP