The last 2 weeks, I have had problems withdrawing money onto my prepaid debit cards that I set up as bank accounts using the routing and account numbers (direct deposit). Before then, I had no problems withdrawing money onto these cards. I called Paypal, and they told me that they have recently started using a special type of software that searches for these types of accounts and cancels them due to a "low transaction success rate". Needless to say, I am pissed... Has anyone else had this problem? If so, have you found a way to get around it or a checking account that you recommend for those on Chex Systems? Long story short, I have a check that bounced that has made it difficult to open an account just anywhere...
I have not used paypal to withdraw to my bank in ages so I wouldn't know. Even when you use a traditional bank account they'll limit you if you make a little too much money too soon and start withdrawing, so there's no point.
What is the name of this prepaid debit card that allowed you to withdraw paypal funds? How are you managed to get the prepaid card with a bank account? Usually when you get a prepaid card you do not get a bank account to transfer fund to it. Are you from US?
Pretty much all prepaid credit/debit cards are backed by a bank. That bank provides a routing number and account number for direct deposit purposes. If your card carrier offers direct deposit, they also will give you a routing # and an account number. And yes...I am from the U.S.
I think this all happen because now so many virtual debit card available on the market and that is not real ,and I think paypal afraid of that
Probably - the guy I talked to at Paypal said it was being done to protect "the customer", but I think it is more to protect them.
The card that I was using was a Futura prepaid Mastercard, but due to Paypal's new policy and software, it no longer lets me withdraw money to it. That is why I am looking for another option.
What about payoneer? I was looking right now for that solution, I have a payoneer card coming and they have a virtual bank account solution? it comes into your paypal, then you fund transfer it to your bank account. This is exactly the process im going to try
You will have to let it know whether it works or not. According to Paypal, their new software can tell whether it is a real checking account or if it is virtual.
they probably just use a ABA routing number table and have lists of virtual ones. But if your company uses ABA numbers to a bank that does virtual / real accounts then there should be no way for them to see.
I assume you hold account with the bank which issued you this card. So why don't you withdraw funds directly to your account? Is transition fee high?
That is what I have typically done in the past. Within the last week though, the 2 accounts that I had set up were deleted by Paypal because they were online checking/debit accounts. I was told by a Paypal agent that the accounts will be deleted unless they are "real" checking accounts.