The PayPal funding option available is through PayPal Fund or ACH only, not via credit card. Transactions require funds to be in the PayPal balance or drawn from a linked bank account, and are documented as payment for goods and services, subject to 6050W reporting. ACH stands for Automatic Clearing House, a reliable electronic funds transfer system governed by NACHA Operating Rules, with the Federal Reserve and Electronic Payments Network serving as central clearing facilities. More information can be found on PayPal's website.
Our PayPal funding option is PayPal Fund or ACH Only! No Credit Card. If a credit card is attached to your PayPal account it will not allow it to be used. The funds must already be in the PayPal account balance or it will be pulled from the PayPal verified Bank Account on file. All transactions are documented by PayPal as payment for goods and services sold. These transactions are subject to 6050W reporting. For more information please visit https://www.paypal.com/webapps/mpp/irs6050w.
What does ACH mean?
ACH is an acronym that stands for Automatic Clearing House. The ACH Network is a highly reliable and efficient nationwide batch-oriented electronic funds transfer system, governed by the NACHA Operating Rules which provide for the interbank clearing of electronic payments for participating depository financial institutions. The Federal Reserve and Electronic Payments Network act as ACH Operators, central clearing facilities through which financial institutions transmit or receive ACH entries.