As of January 1st, 2021, PayPal will no longer offer bank transfer services to its customers in the United States. This change will affect customers who use PayPal to send money to friends and family, as well as customers who use the service to make online purchases. While PayPal says that the change is due to "a number of factors," it's likely that the company is feeling pressure from the growing number of alternatives to traditional banking services.
PayPal cancels bank transfer services when a user closes their account.
This is a huge blow to the millions of people who rely on PayPal to send and receive money. PayPal is one of the most popular online payment processors in the world, and cancelling their bank transfer services will undoubtedly cause a lot of inconvenience for users. It remains to be seen how this will affect PayPal's business in the long run, but for now, it looks like we'll have to find another way to send money to our friends and family.