Link A Bank Account to Your PayPal Account
So you’ve signed up for your PayPal account and may have linked your credit or debit card to skip the hassle of typing your financial details each time you pay online. With PayPal, you can also add a bank account to withdraw any funds sent to your account.
Linking Your Bank Account
Step 1: Link a new bank account
To start linking a new bank account, look for Wallet on the top bar, which brings you to an overview of your current PayPal balance, as well as linked credit or debit cards. Simply click on Link a bank account to start the process.
Step 2: Add in your bank account details
We’ll need to know the country/region of your bank, and details such as the bank name, bank code, branch location, branch code, and your account number. Double check that the names on your bank account and PayPal account match to prevent paying a fee for returned withdrawals.
|Tip: Remember to look out for the “secure” lock on the top right edge of the page to make sure you’re on the right page.|
Step 3: Confirm Your Bank Account
Once you’ve done that, we’ll send you an email to notify you of two small deposits (between $0.01 and $0.99 HKD) made to your bank account.
These should show in your bank account within 2-3 working days. Once you’ve received them, click on the link in the email to enter the deposit amounts for verification on the PayPal website.
And that’s it, you’re done! You can now use your account to pay for your online purchases, and withdraw PayPal funds to your bank account in full.
Topping up your PayPal balance
Having your bank account linked also allows you to transfer funds into your PayPal account, so you’ll have another way to pay securely online.
All you have to do is look for Top up after logging in to PayPal dashboard to download PayPal’s designated bank account information. Then you can transfer the funds from your online banking or bank branch. You should see the funds in your PayPal account within 3-6 days. We’ll also send you an email to confirm the top up.
To withdraw funds from your PayPal balance to your bank account, simply go to the same payment dashboard, click Withdraw money on the left of the page, enter the amount you wish to withdraw and click Continue. Once you’ve done that, review the details before clicking Withdraw.
Adding a credit or debit card to pay, and withdrawing funds you receive, are just examples of the many ways you can use your PayPal account. You can find out more on how to make the best out of your account, or simply start shopping now.
Frequently asked questions.
FATCA affects account holders that are outside the United States, and it requires PayPal to collect tax documents or certifications from account holders stating whether they are US persons. This includes, but is not limited to, business entities, and some individuals that open accounts outside the United States.
Tax Form 1099-K Tips:
- If you feel there is a discrepancy in your tax Form 1099-K, please review your reconciliation report and provide us with the transaction ID(s) in question and the justification for why the transaction is being disputed. Click Contact us at the bottom of any page to call or email us.
- How does PayPal report my sales to the IRS? Will I receive a 1099 tax statement?  >
- How do I find my 1099 tax statement in my PayPal account?  >
- How do I download my transaction history?  >
- How do I change the name on my PayPal Business account?  >
- How do I view or edit my account information?  >
- What is a US person for FATCA and 1099-K tax reporting purposes?
- If there are any discrepancies with your tax identification number and legal name that was used by PayPal for tax Form 1099-K reporting filing with the IRS, you may receive an IRS B-Notice.  >
- The B-Notice mailing will provide you with all of the additional information we need from you. You need to take these action if you've received a B-Notice.  >
- View our tax information page for more information.  >
- Fully complete and sign the relevant form and upload it by logging into your PayPal account and following the Notification prompts.
- Only impactful for account holders outside of the United States.  >
- PayPal must collect documentation such as certification of non-US status and either a tax Form W-9 for US persons or entities that are subject to US tax, or a tax Form W8BEN/W8BEN-E for non-US persons or entities that are not subject to US tax withholding and reporting.  >
- Most business users who need to provide the requested information will be able to do so by logging into their PayPal account and following the Notification prompts.
- What is a US person for FATCA and 1099-K tax reporting purposes?  >
- What does FATCA require PayPal to report?  >
- What is FATCA?  >
- Who is impacted by FATCA?  >
- What FATCA documentation does PayPal collect and how do I provide it?  >
- What happens if I don't provide the FATCA information PayPal requests?  >
- What should I do if my account is limited because I didn't provide the requested FATCA information?
You can find more tax related information on the PayPal IRS tax website.
PayPal Seller Protection helps protect sellers in the event a buyer lodges a claim that the payment was unauthorized, or a buyer lodges a chargeback with their card issuer claiming they did not receive the item. Unless already available in your market, for all transactions made on or after 13 April 2020, Seller Protection will be extended to intangible items such as travel, ticketing services and digital goods. With PayPal Seller Protection, you may be protected for the full amount of all eligible transactions.
Below are some of the main requirements you need to meet to benefit from Seller Protection:
- The transaction must be marked as eligible or partially eligible for Seller Protection on your Account Transaction Details page.  >
- Your account must be in good standing.  >
- You must respond to our requests for documentation and other information within the required timeframe.
- You must ship the item to the address on the Transaction Details page.  >
- You must provide proof of shipment, proof of delivery, or signed delivery confirmation where applicable.
- You must provide provide compelling evidence that the intangible item or digital good was delivered or provided as described, or that the service was completed as described. Compelling evidence can include any evidence available to prove that your buyer received the goods or services or benefited from the transaction.  >
- You must comply with any terms and conditions that apply to the purchase.  >
- You must comply with all technical integration requirements that were specifically notified to you by PayPa
- Claims or Chargebacks submitted on the basis the item was ‘Significantly Not as Described’  >
- Items that you deliver in person, including at a retail point of sale  >
- Items equivalent to cash, including but not limited to gift cards  >
- Donations  >
- Financial products or investments of any kind  >
- A payment sent using PayPal’s friends and family functionality  >
- A payment made using PayPal’s Account Optional (or Guest) Checkout, PayPal Payouts, Mass Pay, PayPal Direct Payments, Website Payments Pro or Virtual Terminal Payments, PayPal Business Payments and PayPal Here  >
- For shipped items, any item that is not shipped to the recipient's shipping address on the Transaction Details Page. We recommend that you do not use a shipping service arranged by the buyer, so that you will be able to provide valid proof of shipping and delivery.
There are no limits or caps associated with Seller Protection. However, PayPal reserves the right to withdraw Seller Protection if the Seller abuses the privileges offered. In the event of withdrawing Seller Protection, PayPal will communicate the same before taking any action.
For full eligibility requirements, see the full Seller Protection Policy terms in the PayPal User Agreement, but please note that we will not update the User Agreement immediately when making this change.
Depending on when you view the User Agreement it may still indicate that intangible items services and digital goods are ineligible, which will no longer be correct, however all other exclusions will remain in effect.
Because we complete the required information on the Form 1099-K using the information that you supply to us through your PayPal account, we ask you to take action on your account.
The B-Notice we sent provides the additional information we need from you. You've received either a 1st B-Notice or a 2nd B-Notice.
- If you received a 1st B-Notice (which happens the first year that the IRS identifies a mismatch in legal name/tax identification number), log in to your PayPal account and click the bell icon (Alert notification) to provide the necessary information. Note that you may be required to download and fill out a tax Form W-9.  >
- If you received a 2nd B-Notice (which happens the second consecutive year that the IRS identifies a mismatch in legal name/tax identification number), please provide either a copy of your Social Security Card (individuals or sole proprietors) or a US IRS tax Letter 147C (entities). Log in to your PayPal account, and go to the Resolution Centre to upload the document.
Please note that the information or relevant tax Form needs to be processed by PayPal before the deadline mentioned on the B-Notice in order to prevent your account from becoming further limited.
- If you've multiple PayPal accounts, you may need to verify that your tax identification number is accurate for each account.  >
- Please make sure all pages of the document are included and signed if applicable prior to logging in to your PayPal account and uploading the document. You may also send documents to:
PO Box 45950
Omaha, NE 68145
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