Do I need to have money in my PayPal account?

Mizzou

First of all, yes this is coin related because I use my PayPal account to purchase coins.

I was getting ready to transfer money into my PayPal account to cover a Cuban 5 peso purchase. So my question is -
Do you need to keep a balance in your PayPal account or will it automatically transfer from your bank account if funds are needed for a purchase?
If it automatically transfers, is there a waiting period for the seller?

JBK

I use a credit card with PayPal.

bsshog40

You should be able to go into your PayPal account and see where funds are coming from. There should be a default account/card that you setup to authorize payments from. If you have a PayPal balance, it will also give you the option to take from that balance also.

UpGrayedd

I don't keep any cash in my PayPal account. Like JBK I use a credit card with PayPal, which I believe gives me a double layer of protection.

YQQ

@UpGrayedd said:
I don't keep any cash in my PayPal account. Like JBK I use a credit card with PayPal, which I believe gives me a double layer of protection.

are you sure about this double layer of protection?
If so, HOW???
H

coastaljerseyguy

Try to keep 0 cash in Paypal account. I had my Bank account linked to Paypal, in addition to credit card, so when I purchased I could choose to pull the money from my checking account.

YQQ

Is insurance for** shipping** included when using PP to pay for any purchase from anywhere to anywhere worldwide? OR what are the restrictions if it is included?
How does it compare to FeeBays insurance?
H

Manifest_Destiny

Yes, it will automatically pull money from a linked account if you choose that option. It may or may not be instantaneous to the seller. Paypal could issue the payment as an "echeck" that will take 7-10 days to clear.

Manifest_Destiny

@YQQ said:

@UpGrayedd said:
I don't keep any cash in my PayPal account. Like JBK I use a credit card with PayPal, which I believe gives me a double layer of protection.

are you sure about this double layer of protection?
If so, HOW???
H

Because you get standard paypal protections, then if they rule against you, you can do a charge back on your credit card. Paypal has to eat the charge back though. Too many of them and they will shut down your account.

WAYNEAS

No cash in mine.
Wayne

Cougar1978

No - I don’t keep cash in my PayPal account.

I can buy using PayPal smart connect.

UpGrayedd

@Manifest_Destiny said:

@YQQ said:

@UpGrayedd said:
I don't keep any cash in my PayPal account. Like JBK I use a credit card with PayPal, which I believe gives me a double layer of protection.

are you sure about this double layer of protection?
If so, HOW???
H

Because you get standard paypal protections, then if they rule against you, you can do a charge back on your credit card. Paypal has to eat the charge back though. Too many of them and they will shut down your account.

As Manifest_Destiny said, I have protection from both PayPal and my CC company.

Mizzou

Thank you for all of the responses, my PayPal account is linked to my checking account. From what I'm reading, there's no reason to make a transfer of funds for a purchase.

JJM

0 balance will just default to your credit card or bank immediately

hfjacinto

I only buy with cash, so I have a hobby fund savings account, I linked that account to PayPal and use that to fund my purchases. I keep almost no money in that account so that if PayPal is hacked I have limited looses. It’s just safer that way. So the answer is no, you don’t need money in PayPal but you should have money in an account to cover your PayPal purchase.