Paypal New Bank Details??

Deco99

Hi All,

I dont think i'm breaching any data here with this question. I want to lodge money into my paypal account, i have done so previously to a Bank of America account in Dublin, now my paypal is saying it is a Deutsche Bank account, no address though so not sure what country. anyone see this? I presume its a case of transferring money to a german account.

Yggr of Asgard

The account shown to me is in Germany as I can see from the DE in the IBAN.

Looks like paypal is now making use of the SEPA and discontinuing the Bank of America in Dublin for local transfers.

Also you might have noticed that you need to link a bank account first from which you make the transfer, no more reference needed in the transfer, the transfer must come from the bank account you provided which is in the same name as the paypal account.

Now what is unclear to me is if the IBAN displayed is the same for everybody or if they are using individual IBAN's per account, sort of a virtual account. Maybe someone else knows?

Deco99

Also you might have noticed that you need to link a bank account first from which you make the transfer, no more reference needed in the transfer, the transfer must come from the bank account you provided which is in the same name as the paypal account.

Ok, so i know its paypal and they are a worldwide company but i'm wondering about giving them my bank account number. This all reasonable?

Yggr of Asgard

You can use PayPal without the need to give them your bank account information, if you choose to pay via credit/debit card. They only require your bank account number (IBAN) if you decide to withdraw funds or load funds into your account.

From what I could see in the German press they are now generating individual IBAN numbers for each paypal account, so the bank account info displayed to you for uploads is your only. It also seams they started a billpay service in Germany that is expanding to the rest of Europe using that technology.

It looks like the need to have your bank account on file is to do with German money laundering restrictions which require them to be sure that the money they credit to your paypal account via bank transfer is really from you and the way they do it is by comparing your account info and account name in the transaction.

As to giving Paypal your bank account info, well that is always a difficult issue but you don't give them any rights to deduct any money via direct debit, only to use it to validate the payment comes from you or in case of withdraw.

It's a big change from the previous system with Bank of America, but I can see where they go with this.

joujoujou

You don't need to give them any bank account information. Just amend payee's details on your bank account and off you go.

Yggr of Asgard

joujoujou wrote: »

You don't need to give them any bank account information. Just amend payee's details on your bank account and off you go.

Are you sure, I was unable to access the top up screen with the bank account info of paypal until I had added a IBAN bank account (I only had a US bank account linked), it would not even display the new paypal account details until I added an IBAN.

Deco99

dublin-texas wrote: »

Are you sure, I was unable to access the top up screen with the bank account info of paypal until I had added a IBAN bank account (I only had a US bank account linked), it would not even display the new paypal account details until I added an IBAN.

I just transferred. Wasnt asked for bank account just that the names must match

Yggr of Asgard

Deco99 wrote: »

I just transferred. Wasnt asked for bank account just that the names must match

Great, for some reason I had to enter an IBAN before I was shown the PayPal bank account info.

Deco99

dublin-texas wrote: »

Great, for some reason I had to enter an IBAN before I was shown the PayPal bank account info.

I could have done that previously too though but cant remember. I know I dont have a debit or credit linked. Thanks for the help though saw no mention anywhere about the change and was cautious of transferring.

Kleine Hundin

I haven't used my paypal account in a while and I was asked to modify the details. When I create a new payment through BOI, what reference number should I use?

Is just IBAN details enough to get my money into my paypal account? Information on the site is quite limited.