Is It Necessary To Have Online Banking Enabled To Withdraw From Paypal?

[The Simpleton 2]

I have this strange doubt and have asked Paypal about it, though I haven't received an answer yet. So I decided to ask you guys here - I'm sure a lot of you use Paypal regularly and withdraw to your bank accounts now and then. Paypal recently introduced the withdrawal to bank facility for Indian users, and there are quite a few people making use of this facility. I'm expecting some money soon and am eager to get started. But there's one small problem - my bank account doesn't have online banking facility. Is it necessary to withdraw funds into my account? I'd prefer not to get the online baning because I don't trust it completely, so please let me know if I can withdraw without the online facility. It would be really convenient that way.

[Spurious 0]

I have a PayPal account like many of us.
I am not verified on PayPal but you can still receive and send money.

Is It Necessary To Have Online Banking Enabled To Withdraw From Paypal?

No it does not have to be enabled. There are two different ways.

Requesting an Electronic Funds Transfer
Withdrawing Funds by Check

Each of these methods require that you have a bank account associated with your PayPal account. All others you dont.
I have a source here from PayPal to explain a bit more.

[akira550 0]

for my visa yes.. at first i had a problem also just like yours and when i enabled my online banking at the website of the bank and try to use my visa.. it was verified and i waited for 2 days for the code that they will give

[mahesh2k 0]

Is It Necessary To Have Online Banking Enabled To Withdraw From Paypal?

In some cases,yes. Some countries do require you to have online banking on your bank account enabled. Also your credit card verification requires you to enter 4 digit code when you get statement in 2-3 after entering the card number on paypal. It takes time and once done your limits of withdrawal are lifted. Now after verifying you can transfer fund to your bank. For funds to get accepted you need tohave netbanking enabled with your bank.

My Netbankng was enabled with one of my HSBC account but my monthly transaction was not higher so they downgraded me. And it gives me trouble by deactivating netbanking. I had to enable netbanking by upgrading my bank account and then proceeded with paypal to accept funds. That was lot of headache. I just wonder what would be the process during 2003-2007 earlier days of paypal.

[akira550 0]

In some cases,yes. Some countries do require you to have online banking on your bank account enabled. Also your credit card verification requires you to enter 4 digit code when you get statement in 2-3 after entering the card number on paypal. It takes time and once done your limits of withdrawal are lifted. Now after verifying you can transfer fund to your bank. For funds to get accepted you need tohave netbanking enabled with your bank.
My Netbankng was enabled with one of my HSBC account but my monthly transaction was not higher so they downgraded me. And it gives me trouble by deactivating netbanking. I had to enable netbanking by upgrading my bank account and then proceeded with paypal to accept funds. That was lot of headache. I just wonder what would be the process during 2003-2007 earlier days of paypal.

how about using a VCC? is this safe?

[Nameless_ 1]

how about using a VCC? is this safe?

I don't think that "VCC" is safe. I've been searching on the internet and most of them believe that paypal doesn't think that is right. (What is VCC, by the way?) I'm having the same problem as you, but with an extra problem, but I'm trying to get it right before I start to receive my first funds from the internet.

It's giving me a headache.

[mahesh2k 0]

VCC is safe depends on from where you get it. Some suppliers are giving away VCC without any headache. You just have to find those people. I have seen many good suppliers on exchangezone.com site's forum. So you can find the same on that forum. Depending on your country and your payout method to that supplier, you'll get good deal for VCC. And i yet to see any clarification from paypal for VCC. Is there any official clarification ?

[sheepdog 10]

Pay Pal makes deposits directly to you bank, the bank would not have to have an online presense in order to do transfers. I use pay pal transfers to my bank all the time. Only problem is there is a 3-4 day delay in the time from when I withdraw the money from my pay Pal account until it gets deposited to my bank, which can be a real pain the the *bottom*. Especially when we all know with the computers, everthing is done in an instant.