What government benefits or payments can I receive in my PayPal Balance account using Direct Deposit?
Government benefits or payments are typically made immediately to a Payee when enrolled in Direct Deposit. Wondering if you’re eligible to receive your money this way? As a US citizen, you’re likely to be eligible for Direct Deposit if you have government benefits or payments due to you and if you have an open and active bank account with a financial institution. This includes a financial institution that is linked to your PayPal Balance account.
Since federal law requires that certain government benefits or payments, such as Social Security payments, be made electronically, Direct Deposit is the fastest and most secure option for receiving your money. Most unemployment programs also allow unemployment funds to be transmitted electronically, including via Direct Deposit.
In addition, taxpayers have the option to receive their tax refunds from either a physical check or using Direct Deposit. Individuals with children eligible for the monthly Child Tax Credit for 2021 can also take advantage of Direct Deposit.
To set up Direct Deposit:
- Click Set up Direct Deposit under your Profile.
- Click Set up Direct Deposit.
- Choose Set Up Automatically.
- Search for who pays you (your employer, government agency, or payroll provider). If you can’t find who pays you, copy your Direct Deposit numbers and give them to your payer.
- Follow the instructions to confirm your identity and enter your Direct Deposit information.