Direct Debit to Paypal

Axon75

Hello! I read I can set up a direct debit to my paypal. I need the minimum direct debit to be able to get the account switching bonus. How do I set that? How much it can be? What will I lose? (in fees, etc). thanks!

grumbler

>> Paypal and direct debits

knack92

Axon75 wrote: »

Hello! I read I can set up a direct debit to my paypal. I need the minimum direct debit to be able to get the account switching bonus. How do I set that? How much it can be? What will I lose? (in fees, etc). thanks!

To add the account go to https://www.paypal.com/myaccount/wallet/add/bank and sign in if you're not already. They deposit 1p in your bank account with a 4 digit reference which you use to verify it.

You will probably have to wait until the direct debit mandate is set up on your bank account before you can add funds. To add funds go to https://www.paypal.com/cgi-bin/webscr?cmd=_add-funds and chose "PayPal moves money from your bank account" which will take you to a page where you choose the amount (I usually do £1). Takes 5-7 working days but usually quicker in my experience.

No fees and you can withdraw back to your bank account at any time.

Anthorn

The easy way is to login and click on "unverified" next to your name and follow the instructions to verify which includes adding a bank account. Has its advantages since some traders and retailers refuse orders from unverified accounts.