You cannot pay a Bank of America credit card with PayPal directly. The only ways to pay a Bank of America credit card bill with PayPal are to transfer money from PayPal to a deposit account and then pay the credit card bill, or fund a payment through a third-party service using a PayPal credit card. That said, these payment methods charge fees, or can take a while to execute.
PayPal Transfer to a Bank Account:
There are three main PayPal transfer options. A standard PayPal transfer should reach your bank account in 1-5 business days. An instant transfer will only take about 30 minutes, but you’ll pay a fee of 1% of the transaction amount or $10, whichever is lower. Finally, you can request a check from PayPal, but this option takes 1-2 weeks, and you’ll be charged a $1.50 fee.
Once the money is in your bank account, you can make a normal credit card payment. Involving PayPal just makes the whole process take longer, cost more, or both.
PayPal with Third-Party Services:
If you’re set on using PayPal without transferring money to your bank account, you can use a PayPal credit card in conjunction with third-party services like Plastiq to pay a credit card bill. With this option, you just need to provide information about the payment, the recipient, and your credit card.
However, services like Plastiq will generally charge you a convenience fee of around 3% of the transaction amount. You’ll save a lot of money in the long run if you don’t take this route.
The Best Option:
Ultimately, it makes the most sense to pay your Bank of America bill without using PayPal. Bank of America allows customers to pay directly from a bank account, and this will help you avoid the unnecessary fees and hassle that come with trying to pay a credit card bill with PayPal. Although PayPal is convenient when it comes to shopping and selling, it’s not a good credit card bill payment option.
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