PayPal is an online payment system that allows individuals and businesses to make and receive funds electronically. Founded in 1998, it has become one of the world’s most widely used payment platforms, with over 300 million active users in more than 200 markets.
The structure of PayPal allows users to link their bank accounts, credit cards, and debit cards to their accounts, making it easy to send and receive money online. A wide range of other services is also available on this platform, including peer-to-peer payments, online checkout for e-commerce sites, and a debit card that can be used at most retailers.
With its convenient and secure payment options, PayPal has become an essential tool for anyone who needs to send or receive money online. Finding your account number can be challenging, especially for new users. This guide provides the steps required to obtain this information.
What Is My PayPal Account Number?
PayPal accounts do not have a traditional routing or account number like a checking or savings account at a conventional bank or a credit union. The email address assigned to it is the primary method for identifying individuals. Users can link accounts to an existing checking or savings account and transfer funds to and from them.
PayPal accounts don’t function like traditional savings or checking accounts. Although you can get a debit card to access your funds, you don’t have routing numbers or other identifiers that let you set up Direct Deposit or ACH transfers directly from the account.
You need to link your PayPal account to a traditional bank or credit union account under your name. It takes between one to three business days to complete this step.
After creating your PayPal account, you’ll need to log into it. This option is available from your desktop browser or the PayPal mobile app.
Once you’ve reached your dashboard, you’ll want to click or tap on your account. It is usually your personal name, although business accounts might have their company name in that field. You’ll see a dropdown box appear. Click on “Account Settings.”
The page offers several sections, including account and security, business profile (if applicable), and products and services. Personal accounts will have an area for linking banks or credit unions.
Click on “Money, Banks, and Cards.”
The second option is for banks. Click on the link that asks you to “link a new bank.” If you use a credit union or another form of personal or business banking that has routing and account numbers, you’ll still use this process.
How Do I Add My Bank Account to PayPal?
After clicking on “link a new bank,” PayPal offers a list of some of today’s most prominent names in the financial sector. You’ll find options for Chase, Bank of America, Wells Fargo, PNC Bank, Citibank, and Navy Federal Credit Union.
Scroll through the list to see if your institution is listed. If so, click on the name. Should it not be there, you can use the search function to look for it.
Your PayPal screen will transition to a confirmation area. PayPal uses Yodlee to confirm banking details and to check balances and transactions when needed. This service ensures your PayPal payments go through when requested.
More information about this partnership between Yodlee and PayPal is available through the platform’s Privacy Statement. You have the option to turn off Yodlee by removing permissions for your bank in your profile. Click the “Continue” button.
You’ll be asked to log in to your online banking platform to instantly link your account. A pop-up window should appear on your screen, while mobile users are taken to their app or browser to complete this process.
Once you’ve logged into the account, PayPal receives your information to link the two. That lets you start transferring money between the platforms.
If you don’t want to link to Yodlee, click on “Link your bank another way.” This option does take longer. You’ll be asked to provide your routing and account number.
Can I Receive Direct Deposit with My PayPal Account?
You can receive Direct Deposits with PayPal if approved to receive them. Anyone who gets a PayPal Debit Mastercard® is automatically provisioned with the routing and account numbers needed for this service.
When you need to find your account number for a tax refund or Direct Deposit needs, you’ll follow these steps to access that information.
- Log in to your PayPal account.
- Click on the “Settings” option in the screen’s upper-right corner.
- Choose “Account and Settings” from the available dropdown when it appears.
- Under the “Account Information” section, your account number is listed next to “PayPal Debit Mastercard.”
- If you don’t have a PayPal Debit Mastercard, your account number will not be listed. Instead, you can find your account number on any transaction details page by clicking on the transaction and looking for the “Transaction ID” field. Your account number will be the first 10 digits of the Transaction ID.
Alternatively, you can also find your account number on the email PayPal sent you when you first created your account. The subject line of this email should be “Welcome to PayPal,” and your account number will be listed in the body of the email.
Your account number is only one part of the information you need for Direct Deposit support. This information does not provide routing information. PayPal wants you to run these transactions through your debit card account or by transferring the money from your traditional bank to this digital platform.
Is My PayPal Credit Number the Same Thing?
PayPal Credit is a service offered by Synchrony Bank. It links to your account, but it is a separate service that functions like a digital credit card.
It is offered to eligible customers in the United States, the United Kingdom, Germany, and Australia.
When your PayPal account doesn’t have enough money to cover an outgoing transaction, you can use this credit line to finish the payment. If you shop online, some retailers provide a “Pay Later” option that offers 0% APR on the purchase when the entire balance is paid by a specific deadline.
When a customer uses PayPal Credit to make a purchase, the transaction cost is added to their balance. You can then pay off the balance over time, with interest, or pay the amount in full within a certain promotional period to avoid interest charges.
PayPal Credit offers flexible payment options and competitive interest rates, making it a convenient financing option for customers who want to spread out the cost of their purchases.
The account number assigned to your PayPal Credit account differs from your standard PayPal login.
How Come I Cannot Access My PayPal Funds?
If you’ve transferred funds from your bank account to PayPal, there can be a delay of one to three business days before you can access that money.
PayPal also has limits on the amount of money you can send, receive, hold, or withdraw from your balance. You can eliminate some or all of the limitations by providing information in your user agreement.
If you’ve exceeded the limits for that day, then you cannot access your balance until the next reset period occurs.
Established business accounts can have weekly withdrawal limits of $250,000 or more. Monthly caps can be $500k or higher. There are also per-transaction restrictions that you might need to navigate as a new user.
Once you’ve verified the information, your balance, receiving, and sending limits can be negated. You’ll need to contact PayPal customer service to manage these issues or click on the “Lift Limits” button from your account overview page.
What Are the Pros and Cons of Using PayPal for Direct Deposit?
Using PayPal for direct deposit has both advantages and disadvantages. Here are some pros and cons to consider.
| Pros of Using PayPal for Direct Deposit | Pros of Using PayPal for Direct Deposit |
| Direct deposit with PayPal is a convenient way to receive payments without having to visit a bank or cash a physical check. | PayPal may charge fees for certain direct deposit transactions, such as those initiated by a third-party payment provider. Be sure to check the fees and terms associated with your direct deposit before setting it up. |
| With direct deposit, your funds are available as soon as they are deposited into your PayPal account, so you can access your money faster than with traditional paper checks. | If you rely on direct deposit with PayPal as your primary source of income, you may be subject to the platform’s policies and procedures, which could impact your access to funds. |
| PayPal has strong security measures in place to protect your financial information, so direct deposit with this platform can be a secure way to receive payments. | Not all employers and financial institutions support direct deposit to PayPal accounts, so you may not be able to use it for all your payment needs. |
| Direct deposit with PayPal allows you to receive payments from multiple sources, such as your employer, government benefits, or other payment providers. | PayPal may impose restrictions or limitations on your account if it suspects fraudulent activity, which could impact your ability to access your money. |
What to Do with My PayPal Account Number?
A PayPal account number is an essential piece of information that makes it easier to facilitate sending or receiving money. Most applications only need an email and direct authorization to deposit funds, but some institutions might require this additional bit of information to complete a transaction.
I created my PayPal account when I was in college. It was one of the first on the platform, and I still maintain it to this day. This year will be my 25th anniversary.
My first employer offered Direct Deposit as a payment option, so I decided to try setting up my account to receive funds that way. I’d been using it for eBay purchases and other online transactions, so it seemed like a straightforward and reliable way to manage money.
I appreciated the fast access to her funds and the security of knowing that her financial information was protected. Whenever she needed to check her balance or review her transaction history, she could easily log into her PayPal account and view her account details.
Although my access is likely different because of the length of time I’ve had my account and other perks, the process is still similar. By knowing how to find your PayPal information, you can unlock a world of payment possibilities.
