direct deposit help
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Posted on
Jun-22-202310:22 AM
I'm trying to set up direct deposit for my school to receive any extra funds I might have left over. Can someone tell me what these mean and if this is normal? I don't want to set up if there going to be headache down the road,
About your Direct Deposit account
- If you have enrolled in Direct Deposit, your U.S. dollar funds are placed at one or more banks insured by the Federal Deposit Insurance Corporation (FDIC) that we choose in our discretion and are eligible for FDIC pass-through insurance at those banks.
- To withdraw or use your balance with the ease of a debit card, get the PayPal Debit Card.
- At this time, your Direct Deposit numbers can’t be used for withdrawals or transfers. <---------------------
- If you’re asked for the account type when you set up your Direct Deposit, use checking.
- Your Direct Deposit routing number is provided by The Bancorp Bank, N.A., Member FDIC.
Tips:
- direct depositis only available for PayPal Balance accounts. It’s not currently available for Business accounts.
- Your Payer must be located in the US. The transaction will fail if it originates outside of the US.
- The account and routing number associated with Direct Deposit are for incoming payments only and can’t be used for outgoing purchases, payments, or direct debits. <--------------------------------
- Your Payer may also ask you to fill out their own direct deposit form.
I'mcurious with what Iused the green font with means please?
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- Receiving Money
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Jul-05-202308:33 PM
I gave out my direct deposit account and routing number.. where did my money go because it didn’t go to my PayPal account balance
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Jul-10-202302:59 PM
Hello @Lucrativemovmen,
Welcome! Thanks for joining the PayPal Community Forum. I'm sorry to hear you've run into some speed-bumps with your recent Direct Deposit. Normally, once your information is all setup with Direct Deposit, it may take up to two pay cycles to begin. However, that can vary across payers (employers). If a deposit has not completed, please check with your payer for assistance.
Good luck with this and future deposits,
- Jon K
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