[Nfb-web] PayPal Help

[Michael Hansen]

Peter,

What you are describing is actually how I am familar with working with
Paypal. When the NFB of Nebraska takes in money through a online
transaction it just sits in our PayPal Account. It doesn't move into
our bank account until we go into PayPal and Transfer the money out to
our actual bank account. PayPal allows you to have numerous bank
accounts associated with your PayPal account so you can transfer some
into one account and the rest into another if you want to.

As for how to move the money. There is a "Withdrawl" section of PayPal
that has a "Transfer to Bank Accout" option. This will walk you
through the process of selecting which account you want to move the
oney into and how much money to transfer.

NOTE: If you use PayPal very much you want to make sure that your
account has a "verified" status. To get this there are several step
you have to go through but it is worth it. Without this status PayPal
will put restrictions on your account dictating how much money you can
withdrawl in a 30 day period. For example when we first started to use
PayPal I over looked this and it took us 3 months to get $1,400.00 out
of our account because we could only transfer $500.00 a month.

Mike
---
Mike Hansen



On Tue, Feb 3, 2009 at 2:47 PM, Peter Donahue <pdonahue1 at sbcglobal.net> wrote:
> Good afternoon everyone,
>
>    I have an entity that wishes to create a PayPal Account and use it for
> their business. My understanding is that when one creates a PayPal Account
> they are in effect opening a "Bank Account" through PayPal in to which funds
> received from transactions will be deposited. I'm aware that that one can
> set PayPal up to where funds received in a PayPal account can be directly
> deposited in to a bank account. My question is is it possible for someone to
> do this manually. In other words can one move funds from their PayPal
> Account in to a regular bank account manually and how is this done? Your
> enlightenment will be very much appreciated.
>
> Peter Donahue
>
>
>
> "Given a chance to dream it can be done.
> The promise of tomorrow is real.
> Children of Spaceship Earth the future belongs to us all."
> Flying for Me,
> John Denver
>
>
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