Question about paypal; If I deposit cash from paypal account to my bank account

[SirPoopAlot]

I buy and/sell items online and I want to deposit my earnings in my bank account. I can deposit around 1-1.5k per month. Will my bank which is located in the U.S. care about this? Are there issues that I am not addressing that can bite me in the ass later on.

[kennerd]

Moving funds from Paypal to a bank account is a routine thing, I don't see how it can be an issue.

[biged214]

If you want to buy BTC with paypal or US bank then that will most likely not happen.

[DeathAndTaxes]

We move about a lot more than that (in the other direction) and never had a problem.  Both your bank and PayPal are KYC/AML compliant institutions.  Usually the areas of concern are the movement of funds in or out of a KYC/AML institution (i.e. depositing $30,000 cash, wiring funds out to an account under another name on a terror watch list, writing a lot of checks in name "Cash", etc).

Your PayPal account (in your name and verified by PayPal) <---> Your Bank Account (in your name) "shouldn't"* be an issue.


* Full disclaimer on a long enough timeline the banks will make a liar out of everyone.  Anything could happen but it should be low risk.

[SirPoopAlot]

What about taxation related to my earnings. My profit comes from virtual goods; am I suppose to pay any taxes.