As I mentioned here, it's a country-by-country thing. I could not top up my PayPal until I connected my debit card to it. I could do it without bank account, but it needs an account for the same owner as the card registered to receive money from.
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TrustPay you say ?
Would that mean that this is not international-wide and the brokers can be different in various regions ?
For me it was always BlueMedia. Care to check your PP account and see which one you have know ? (aka try to make an instant fund add and see where it will take you after you select your bank and amount)
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That would be impossible do to financial laws. Strictly speaking, the PayPal you use is not even the same company as the one in America, since the European one is registered as its own entity, a bank in Luxembourg, not just a money transfer service. All similar financial services are done on a country by country basis with lots and lots of paperwork…
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I had no idea about this as I don't use paypal too often as I don't particularly trust them, but this is really good to know, and feels super sketchy. Thank you for telling us!
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Well for me it was actually instant. Max I have waited once was like 30 minutes but other than that the monies were always on my account after around 5 minutes
Well, apparently Bluemedia > TrustPay :)
I saw one comment of a guy that did a quick transfer with this Trustly "scam" and he says that the money were there on his PP after few seconds. But that doesnt change the fact that he just gave his bank login and password on some "random" site that is not his bank site
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I know but I don't approve making such ridiculous decisions that lead to potentially risky situations. After all it's about money and it should be as safe as possible. Even if Bluemedia (or whatever the prior provider's name was) was more expensive. One can try to save some cents when buying groceries but definitely shouldn't try to cut spending when managing money, especially those belonging to someone else.
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As I see you live in Australia so maybe there things are different
Basically, you have 2 options on Paypal - "Add funds" or "Insantly add funds". The first one is just like a regular bank transfer, however I never used it so I cant give you details
The second one is like this - you click it, you choose your bank and amount of money (still on PP website). After confirming it takes you to your own bank account site where you log in to your account and simply confirm the transfer.
Now it got changed because they changed the middleman to Trustly, and instead of redirecting you to your bank website they redirect you to Trustly website where they expect you to log in to your bank with your data - which is something you never should do (aka logging in to your bank on sites that are not your bank site)
As for your other comment below - I dont know. You said that you have your acc linked to bank account and so have I but I only did it recently to purchase HB Monthly. So I dont know the details but for me the above still applies - If I choose the instant fund adding option it asks for bank, amout, then takes to the Trustly site to login (ofc used to take to your bank site). So perhaps what you are talking about ("Mine is instant. No top up required. The money simply needs to exist on my bank account." ) is using an regular transfer and not the instant top up. I think that is a profit of having bank acc connected to PP as then the regular transfer doesnt go for like 1-3 days but its instant too - however I'm not sure as I never used that option, neither before I had my bank connected or after
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yup, same here, gave them my account number years ago and permission to take what I spend via PayPal, always just have to log in at PayPal and confirm the purchase, no third party sites (same when I want to add money to my account, I think - don't really need to). Even works when there's no money in my account, had -5€ or so on PayPal once XD
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I link my bank account(s) and debit card(s) directly to Paypal. When I use Paypal for a transaction, the money comes directly out of whichever account I am using, just as if I were using a debit card for the transaction.
EDIT: The settings to add an account or card are under My Wallet, I believe.
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You set up a direct debit agreement with PayPal, they make 2 small payments in to your account as a security measure, you them tell then the day it was paid in and the amount. That's it, you can then pay directly from your bank account using PayPal
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I was unsure at first too, but I use the PayPal app on my phone, and any time a PayPal payment is made I get a notification.
I've been using direct bank payments with PayPal for well over a year now and have never had one issue, you also pay less fees too.
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I never really had to pay for the instant fund adding option, it's all about the bank and the price of a single transaction (which usually is free). Still, even if I had to pay those 0.5€ every time I add funds, that's still so much better then doing it for free and compromising the whole security of your bank account.
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EDIT: Apparently the middleman in the instant fund adding option varies depending on your country so its not 100% sure you will also be "forced" to use Trustly. If it happens that in your country the middleman was also changed to Trustly - dont use it
As far as I know ATM Trustly is used in Poland, Czech Republic, Finland, Sweden and Denmark. There are probably more countries, I just dont know which one but probably its the majority of Europe
EDIT2: Some banks already started blocking the use of Trustly "service"
Paypal gone mad
They have changed the payment handler (in my country it was Bluemedia) to Trustly
What is the difference you say ?
The difference is that before you used to login into your bank and send the transfer from there
However now the site WANTS YOU TO GIVE THEM YOUR BANK ACCOUNT INFO !!!
Instead of logging into your bank as usual you are taken to some other site - Trustly site - where you are supposed to use your bank login and password
Do not use it !! Never ever log in with your bank account data on some random sites that are not your bank site
Even funnier stuff is that Paypal itself tells you to never use your bank account data on sites that are not your bank account site. And look what they do now, use Trustly that expects you to do the very same thing that Paypal warns about xd
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