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Secure Your PayPal w/a Prepaid Debit Card (& get $20 Free).
I am a huge fan of securing your PayPal account w/a Prepaid Debit Card. I lost my bank account (which I had for over 10 yrs. and really liked) 5-6 yrs. ago because it was linked to my PayPal account.
I set up a PPC account w/Google using my PayPal account (which was linked to my bank account). I had about a $100. in my Google account. I figured when the $100.was gone they would just "pause" my campaign till I transfered more money into that account.
WRONG. When the money ran out in my Google account... they started tagging my PayPal account. When the money ran out in the PayPal account... they started tagging my bank account.
There wasn't any money in my bank account... so everytime they tried to get money... I got an overdraft... like 5-6 of them a day. After a couple days of this... when my account was overdrawn roughly $400... the bank closed my account... thank goodness.
I am often wrongly billed by internet companies (sometimes my fault, usually theirs) but these transactions get denied (because I keep the account "cash poor", and it's not linked to my bank). A much better situation than trying to get your money back after they have it.
1) You can't remove your bank account from your PayPal account. At some point it will become "unverified". As an "unverified" account, you have a spending limit of $75.. When you reach that limit... they freeze your account until you re-verify it by linking it to a bank account.
You will also lose any subscriptions you have that are tied to that "funding" source.
But... the good news is that you can use a prepaid debit card as "your bank" to set up a "new" PayPal account (you will also use a "new" email address).
The beauty of doing this is that your new prepaid debit card has no minimum balance, won't incur overdrafts, and it doesn't give everyone on the internet access to your bank account (just 'cause you're paranoid doesn't mean that they aren't really out to get you).
If you didn't put the money there to fund the transaction... it will simply be denied.
PLUS... because I am referring you, you and I will each get a $20.00 credit when you load a minimum of $40. to your new card.
To order a card, click on the link below (or paste it into your browser)...
On the second page of the application you will be asked for your referral code, use...
2) When you get to your "new" NetSpend account... click on the tab that says "Add/Manage Money"... then "PayPal Transfers". That page will give you all the information you need to "link" your new pre-paid debit card, to a new PayPal account as a "bank account".
You will then need to "verify" this bank account. PayPal will send 2 micro-deposits to your new NetSpend account. This can take 2-3 business days... so you want to do this ASAP.
Once your NetSpend account is verified... you can start using your "new" PayPal account for most of your online activities... knowing that it is not tied to your "real" bank account.
I refuse to have my real bank account tied to anything on the Internet... and it's easier to manage a secondary account with PayPal than to deal with a separate bank account.
3) To tranfer funds from your "real" bank to your "new" PayPal account... go to your "new" PayPal account and click on the tab "Merchant Services". Then click on "Send Invoice"... and send an invoice to yourself (at your old email address) for however much you want to transfer to your "new" account. Then pay the invoice with your "old" account (which is tied to your real bank account).
You're "old" PayPal account will now be used solely for the purpose of transferring funds from your "real" bank account to your "new" PayPal account (which is not linked to your bank).
You will be charged a small amount for the transaction (on the recieving end)... but this is much cheaper than purchasing a "Green Dot Money Pak" for $4.95 per transaction... plus you can do it all from your computer. You don't have to go anywhere.
You may find that you really like your new prepaid debit card. You can do unlimited transactions for only $10. a month ($5. if you set it up for free direct deposits) and you'll never get an overdraft charge.
Something like 30% of Americans have actually quit having regular bank accounts because new technology (like this) has made it so much easier to not have one.
I love having a PayPal account that's not tied to my bank account. It tickles me when someone tries to take money out of my account when they aren't supposed to, and they get denied. I also sleep much better.
Allan Babby ~ theBargainHunter.info