Paypal A/C and no other Bank A/C.

J

john luc

Registered User
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Can you have a paypal A/C only or does it need to have a Bank A/C to a main Bank to link to. I am a member of a club in which we have both a main Bank A/C and a Paypal A/C and we want to just keep the Paypal A/C open and close the Main Bank A/C.
 
You can't unlink the bank account from PayPal without adding another one. However, if you just closed the bank account, there's no way they'd know, once you've funds in your wallet and set thus as preferred payment method.
However, PayPal piggy back on the AML that the bank has already done, and use the bank account to verify your identity once your PayPal transactions reach certain levels. I'd also be thinking about how I'd ever get the money out of PayPal in future if the linked account was closed.
Are you closing the bank account because of fees?
 
The bank A/C is not really used for the club business instead the Paypal one is. There is also fee's charged which is annoying
 
It's a club A/C which is classed business and they charge €5 A month just to hang on to our money.
 
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