The Oz Round Table boards > PayPal

Paypal and Debit card question

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Hermit:
Firstly I did ask my bank about this, but they didn't really answer the question to my satisfaction so thought I'd try here.

My bank has a $1000 per day limit when withdrawing from ATM's, or using EFTPOS. I tried to buy a $1200 camping fridge once with EFTPOS and it wouldn't allow me to go over $1000. However with a debit card I can go over that if I buy using it as a "credit card".

So what happens when I have my debit card linked with Paypal? Can I buy stuff over $1000 with Paypal if I do it using my debit card? 

*FluffyDuckee*:
Hermit, I really don't know.  I always thought that debit cards worked as credit only to the limit of funds available.

I know just linking a card that appears to be a credit card to Paypal allows instant payments.  You should be able to buy stuff over $1000 in Paypal if you have it linked to your bank account and linking a credit card will make the payment instant no matter what the amount is you are trying to withdraw.

If you have funds in your debit account of say, $2500, you are able via the credit card option to use it to buy goods up to $2500.  That's how those debit cards you load up to take overseas work.  You have credit to the value of the money loaded up against the card.  If you try to buy through paypal using the attached debit as a credit, I woukd imagine, like any other vendor Paypal would check the available balance and pay it.  Have you asked Paypal?  

*CountessA*:
As long as you have the funds in your bank account, the debit card associated with it should not have any problem with such an amount.

Using your card with Paypal is the same as using your card with another merchant. It will be treated as a credit card withdrawal.

Just be aware, though, that the merchant is PayPal, not the person from whom you're purchasing.

*wheels*:
Hermit, you shouldn't have any problems with going over the daily limit of $1000. When you use a debit card with PayPal it is treated as a Master Card/Visa transaction, the same as if you select Credit when using it for EFTPOS in a store.

You will also have the protection of your bank's disputed transaction policy so if anything goes wrong with the purchase and you are unable to make a PayPal claim (for example it is past the 45 days limit) then you can apply for a chargeback.

Hermit:
No worries, thanks for the replies. I thought that's how it would work but just thought I'd double check first. Thanks all.

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