PayPal is one of the top methods of sending and receiving money through the internet. PayPal was primarily used for buying merchandise online in its early days, particularly through its parent company, eBay. Now, PayPal is used by employers, merchants, to give and receive monetary gifts and much more. Show Transferring funds from a PayPal account to a bank account is easy. First, you must ensure that your bank account is connected to your PayPal account. Then, it is simply a matter of deciding how much to transfer, clicking a few links and waiting. Connecting a Bank Account to PayPal Start from your PayPal Wallet. The link is available in the top menu of PayPal website. In the wallet, on the menu to the left, click “Link a Card or Bank.” Choose “Link a Bank Account.” From this point, a list of banks will appear. Choose your bank or, if it is not listed, click “I have a different bank.” You will need to have your bank account information handy for the next step. You will type your routing and account number, choose whether you want to use a checking or savings account, and then wait for deposits to appear. It takes about two days to link the account. In this time, PayPal will deposit two small sums into your account. The amounts vary, but will always be under one dollar. Once these deposits appear, you will return to PayPal and confirm your account by entering the exact amounts deposited on the confirmation screen. Transferring Money from PayPal into a Bank Account There are a number of ways to transfer money from PayPal to a bank account. The easiest is to go into PayPal Wallet. In the center of the screen, click the large button that reads “Transfer Money.” From here you can choose to transfer money to your bank from your PayPal balance or into PayPal from your bank account. Choose the first option, transfer money to your bank. If you have multiple accounts linked, the next screen will give you the option to choose the account you wish. You may also have the option to immediately deposit funds into a debit card, though PayPal does charge a small fee. Next, decide how much money you wish to transfer. You may pick any amount you wish, up to and including the entire balance in your PayPal account. You will have one more chance to decide if the amount you wish to transfer is correct. Click transfer, and you are done. There is one small drawback to transferring money from PayPal to your bank account. That is the fact that PayPal balances do not immediately appear in your bank. In most instances, it takes about one business day for funds to appear. This means that funds transferred on Tuesday will appear on Wednesday, but funds transferred on Friday won’t show until Monday at the earliest. There are times when transfers take longer, sometimes up to three business days. Jim Treebold is a North Carolina based writer. He lives by the mantra of “Learn 1 new thing each day”! Jim loves to write, read, pedal around on his electric bike and dream of big things. Drop him a line if you like his writing, he loves hearing from his readers! Download Article Download Article Is there money in your PayPal account that you need to transfer to your bank? Once you've linked your bank account to PayPal, withdrawing your balance is quick and easy. This wikiHow guide will show you how to move money from PayPal into your bank account, and what to do if you can't transfer your funds.
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See more answers Ask a Question 200 characters left Include your email address to get a message when this question is answered. Submit Advertisement About This ArticleArticle SummaryX 1. Open the PayPal app. Did this summary help you? Thanks to all authors for creating a page that has been read 1,104,977 times. Is this article up to date?Can I transfer money from PayPal to my bank account instantly?Use Instant Transfer* to move your money from PayPal to your bank account in minutes, with a linked Visa® debit card. Don't have PayPal? Sign up here. *Instant Transfers typically occur in minutes, and may take up to 30 minutes and vary by bank.
How do you deposit money from PayPal into your bank account?Start the PayPal app on your phone and log in, if needed.. Tap your PayPal balance. Open the app and tap your balance. ... . At the bottom of the screen, tap "Transfer," and then tap "Transfer Money." ... . Tap the bank account that you want to transfer money to and then tap "Next.". How long does it take to transfer money from PayPal to bank account?To transfer funds from your PayPal account to your bank account, it usually takes between 3 to 5 business days; weekends and holidays may affect the exact timing of when your money is deposited. Also, additional holding periods may apply when transferring money depending on your bank account.
How much does it cost to transfer money from PayPal to bank?What are PayPal fees?. |