How safe is it to link Paypal to my bank account?

April 13, 2011 8:55am CST
As my online earnings rise i have been considering verifying my paypal account by linking it to my bank account. However I am worried about how secure this would be and whether it would put me at risk of having my money stolen. I recently had one of my email accounts hacked and so am wary of how easily my personal information could be obtained. I would appreciate your views on whether or not it is a safe option to link my paypal and bank accounts. Birdie -
1 person likes this
11 responses
@yallit (3677)
• Philippines
14 Apr 11
Just think about this: Online merchants use Paypal as their payment processor and they have their bank accounts linked to Paypal. As for security concerns, problems arise mostly from the user's side. So, make sure you have a strong security password for your Paypal account and keep the password to yourself. If you share a computer with others, do not store your password on the browser. Always type your password when accessing your account instead of the browser automatically filling out the password filled because you have the browser store the password information. Protect your computer by ensuring your firewall is up and that you have antivirus, antispyware and antimalware programs installed and up to date.
15 Apr 11
That's actually a rather good point and it does make me feel a bit more secure. I think i will change the password to something a little stronger before i link paypal to my bank account. Cheers for the advice. Birdie -
@Renhard (3471)
• Jamaica
13 Apr 11
I have always thought about that problem but here is my solution towards the matter. I think the best thing to do is create a new bank account and link the paypal to that NEW bank account. And notice that I say new bank account. The bank account should be practically empty. Then when you want to withdraw your money, you should withdraw that money to that bank account. Then as soon as the money reach the bank account, then you transfer it to your regular bank account. That way your money will always be safe. To me that way might be a little too much work but that is the best way I see of doing it. tell me if you actually find what I said usefull and practical.
15 Apr 11
That's actually a very good and very practical idea indeed. Sadly i don't think i am currently in a position to utilise such a strategy but it is certainly something i will consider in the future. Cheers again. birdie -
@arcideaco (1257)
• Singapore
13 Apr 11
I think it is safe to do so because you are not able to take money out from your bank to put it into your PayPal account. You are only able to do so using credit card or debit card. Cheers.
14 Apr 11
Oh, I didn't realise that, i thought it meant you could just transfer money both ways. well that makes me feel a lot better about the whole thing. Thanks. Birdie -
@kiran8 (15348)
• Mangalore, India
13 Apr 11
Hi Natasha, you are probably new to online earning and paypal. Most of us here have been using paypal for several years . You have to link your bank account to paypal otherwise how will you get your money transferred and now as for the new rules you have to do it within a week of receiving it...
15 Apr 11
I've been on the online earning circuit for a few years now, but i've never earned enough to reach the maximum for an unverified paypal account to be a problem and i usually spent what i did earn almost straight away so transferring it to my bank account was also never a bother before now. I was under the impression that only those living in India are affected by the new rules, since i live in the UK this shouldn't be a problem for me. All the same it's good to know that so many people seem to trust the site. Birdie -
@QeeGood (1213)
• Sweden
14 Apr 11
I have good experience with paypal with linking it to a bank account. It has been safe and secure transaction both ways.
14 Apr 11
can anyone in the house explain VIRTAPAY......is it paypal connected?i only see an account but cannot retrieve the money
@chiyosan (30184)
• Philippines
13 Apr 11
i think its safe. I have not encountered any problems with it and has even noticed an improvement with the service. well you will never know until you try, after all... its your account, both in paypal and in mylot. you'll find it hard though to encash your paypal earnings if you do not link it to your bank account.
@youless (112481)
• Guangzhou, China
14 Apr 11
I am not very afraid of it. Paypal is a famous payment method and therefore it must have a good security. If you are worried about it, then it is easy. Just link your Paypal account to your bank account which has no more money left:) So you won't lose anything if there are any accidents. I love China
@louievill (28851)
• Philippines
13 Apr 11
If your question is "How safe is it to link Paypal to my bank account?" then my answer would be it is very safe, you see I have had my bank account as well as my credit card linked to my paypal account ever since it started supporting my country. Considering that you have linked it already, think the greater responsibility we have to undertake is how to keep the account safe, like getting a good anti malware and spyware and seeing to it that you login only to the real paypal site with your password, it is safe but protecting the account or how we keep it safe is our own look out and responsibility, good luck
@bretay61 (722)
• United States
14 Apr 11
I have mine hooked to my bank acct and I have never had any problems.I understand your concern though.I would say it is safe though.
@misc11 (384)
• United States
13 Apr 11
I couldn't decide if I should link mine either. I asked my boyfriend about it and he said he had a paypal account that got hacked and he was charged $300 for dolls, but I did it anyway. Paypal took a few dollars out of my account for nothing. It was a transaction that didn't involve them so I took my bank account off. I don't think it is safe at all, especially with how advanced hackers are today. You could get an alertpay account too and use alertpay as well so you have two accounts.