PAYPAL: Transferring funds from PP to a Bank Account
- ADVICE: Do not transfer money between accounts within 3 days of a PTA Board or General Association meeting. Due to banking rules, transfers may take 1-3 days to show up, i.e. funds may be debited from one account but not yet show up on the other. These “limbo” funds – although explainable – can make audit and treasurer reporting more complicated than necessary.
- Log into PayPal and initiate actual transfer. Depending on amount being transferred, expect 1-3 days for the funds to show up in Bank Account.
- In MyPTEZ: Balance Adjustment.
- Date: Transfer initiated
- Purpose: Transfer PayPal to XX
- DECREASE PayPay – enter amount
- Category: Bank Account(s). Please note that MyPTEZ allows splits between accounts.