Bank statements / paypal

Blade200

Will a lender ask questions if they see several PayPal transactions on my bank statement. I deposited and withdrew from paylpal several times during septembers statement. These where fairly large amounts ranging between 150-500.

Thanks

YHM

If they can be accounted for and justified then I would expect it is fine.

Cardinal-Red

We got asked, because my wife is an eBay addict. The lady at the underwriting team said that Paypal is often used to fund gambling accounts. Once I explained, she accepted the situation without much further fuss.

Blade200

So did they just take your word for it that your wife is an eBay addict? Would they ask to see PayPal statements?

Smevchenko

Is this really a problem as long as you are living within your means? If you can show you are not overspending each month, does it matter what you are spending your money on?

Ant.Evs

Blade200 wrote: »

Will a lender ask questions if they see several PayPal transactions on my bank statement. I deposited and withdrew from paylpal several times during septembers statement. These where fairly large amounts ranging between 150-500.

Thanks

Yes they could well ask to see the paypal statement as already stated paypal is often used to fund gambling accounts.

I suspect this is the case here also?

feekerry

We are some way through a application and I was worried about that as we use amazon/PayPal literally for everything. But no one has asked yet and our valuation has been instructed. It’s all normal stuff but we pay for shopping etc everything thru pay pal. I think gambling would be quite obvious. Round amounts going out and coming back etc

Amst

Smevchenko wrote: »

Is this really a problem as long as you are living within your means? If you can show you are not overspending each month, does it matter what you are spending your money on?

Yes because you're asking them for a loan - they have a right to know how you spend your money.