I've just signed up for a PayPal account, and it gives me the option to link a bank account or add a credit card.
The credit card option would mean that PayPal can withdraw any amount of money necessary to pay for anything I purchase online.
The bank account part confuses me. To link my bank account, I'll need to give PayPal my bank, branch, and account number, and it seems like that's about it. Googling about whether PayPal can draw funds from my bank account on demand doesn't give any results that answer my question. But if I click the "Top Up" button in PayPal, it says that after linking my PayPal account, I still need to log in to my bank account to initiate the transfer.
I would like to limit the amount that PayPal is able to withdraw from my bank account, preferably so that PayPal would be unable to withdraw any money without me logging in to my bank account. (I would keep some PayPal credit in my PayPal account and transfer funds manually when I run low on PayPal credit.)
I would think that with my account number and other details I submit to PayPal to sign up, PayPal would be unable to get any money from my bank account without me initiating the transfer by logging into my bank account. Is this correct?