Did you know you can move money directly from PayPal to ING?

[bjscheel]

I did a search here a couple weeks ago and people were saying you can't move funds directly from PayPal to ING, that you had to run it through your checking account first. Well a friend on eBay just helped me do it. You need to add your ING account as a bank account on PayPal. If you go into your ING account, there is a link for Direct Deposit info. This gives you the routing number and account number for your ING account. Then you go to your PayPal account and add ING as a savings account. PayPal will send two deposits to ING so you can verify it. Then when you withdraw funds from PayPal, your ING account is an option. Hope this helps someone!

 

[LdyFaile]

That's good to know but myself I probably won't be doing that. For me, the whole point behind an ING account is money I can't access readily. It's the only way I'll actually be able to save anything. If it's linked to PayPal then it's easily accessible.

And while I've never had a problem with PayPal, I prefer not to have it linked to an account that could hurt me. As it stands right now, PayPal is linked to a credit union checking account that I rarely use. If I'm going to buy something via PayPal I have to move money from one bank to another. I may be overly cautious but I'd rather have them hijack an account that has nothing in it than hijack an account that has money in it that might get tied up in the process of sorting things out.

 

[LisaNJ25]

Thanks.. thats good to know.

 

[Harvest02]

WOW! Thanks for the info! I have been selling things on ebay to earn more money for Disney and always thought it wasn't possible to transfer PayPal funds to my ING account. That is awesome! I am waiting for PayPal to put those two small deposits in my ING account, so we will see if it works. At least my PayPal money would earn a little interest before we go instead of just transferring to my checking account! Thanks so much for letting us know about this!!!

 

[CheapMom]

That is great - I will definately be doing that!

 

[susan137]

Has this worked for anyone?

I tried it last week and PayPal was to deposit money into my ING account for verification. As of today, I haven't seen the deposits. Am I just not waiting long enough or did I do something wrong maybe??

Susan

 

[anitame]

Woo-Hoo!
That's awesome news! I just set mine up.
Thanks!

 

[bjscheel]

Susan137- it worked for me. I have moved all of $10 from PayPal to ING but it did work! I think I added ING account to PayPal on a Friday and the two deposits were in by Wednesday (a total of .49 woohoo!).

If it has been more than a week, maybe you could re-check the account number and routing number for ING to make sure you entered it correctly, I don't know what else could be wrong. Good luck!

 

[cats mom]

And while I've never had a problem with PayPal, I prefer not to have it linked to an account that could hurt me. As it stands right now, PayPal is linked to a credit union checking account that I rarely use. If I'm going to buy something via PayPal I have to move money from one bank to another. I may be overly cautious but I'd rather have them hijack an account that has nothing in it than hijack an account that has money in it that might get tied up in the process of sorting things out.

That's what I'm wondering as well.
If you ever had a paypal problem couldn't they freeze your ing account too?

I guess I'm overly cautious as well because I only have one checking account linked to paypal and it is NOT at our main bank.

 

[rflorek]

That's what I'm wondering as well.
If you ever had a paypal problem couldn't they freeze your ing account too?

I guess I'm overly cautious as well because I only have one checking account linked to paypal and it is NOT at our main bank.

If Paypal has a problem, they can freeze any linked account. That would mean that your ING account could be frozen. Also if someone does a chargeback & you don't have enough funds in your Paypal account, they will grab your ING funds.

I personally would rather have the extra barrier of my tiny savings account between Paypal and my ING savings.

 

[grlpwrd]

So true with PayPal and freezing accounts.

That is why I have my PayPal account linked to a separate account just in case. It can and does happen, unfortunately.

You just never know...