How to Transfer Money from PayPal to a Bank Account

Three Parts:Linking Your Bank Account to PayPal[1]Transferring Money from PayPal to Your Bank AccountTransferring Money from Your Bank Account to PayPal

Transferring money from your PayPal account to your bank account is simple as long as you have your bank account linked to PayPal. Here's what you need to do in order to make the process possible.

Ad

Part 1 of 3: Linking Your Bank Account to PayPal^[1][2]

1. 
   1
   Set up a PayPal account if you have not done so already. Setting up a PayPal account is simple and can be done as long as you have a valid e-mail address.

   • Go to http://www.paypal.com/
   • Click on the "Sign Up" button.
   • Follow the on-screen prompts to complete your account. You will be asked to select a country and language and to specify an account type. Standard accounts are free.
   • Input your e-mail address and chosen password along with your name. Answer any security questions and complete the process.
   • You may be asked to activate your new account by clicking on a link provided in an e-mail that PayPal will send to you.
   Ad
2. 
   2
   Log into your PayPal account. Enter the e-mail address you signed up with in the “E-mail” box and your account-specific password in the “Password” box before clicking on the gray “Log in” button in the upper right corner of the screen.

   • Upon a successful log in, you will be automatically forwarded to your default account page with the “Account” tab already open.
3. 
   3
   Choose “My Money" from the “Profile” menu. Hover your cursor over the "Profile" menu to bring up the menu. "My Money" should be the second major heading within the drop-down menu.

   • Within the default “Account” tab, the "Profile" menu should be located at the far right of the menu bar.
   • Click directly on the "My Money" heading instead of the sub-headings beneath it.
4. 
   4
   Go to the "Bank accounts" section. Once you are taken to the "My money" section of your profile, you should be able to see the "Bank accounts" section listed at the top of the page. Click on the "Add" or "Update" label to the far right side of the section.

   • If you do not currently have your bank account linked to PayPal, no account number should appear next to the "Bank accounts" heading.
   • If you do have a bank account linked to PayPal, the last four digits of your account will appear next to the heading.
   • Clicking on “Add” or “Update” will take you to the “Add an Account” page.
5. 
   5
   Enter your bank account information and click "Continue." PayPal will prompt you to enter your bank account information. After you enter it, click the “Continue” button to submit the information. The minimum information you should have on hand includes:

   • Bank account number
   • Routing number
   • Bank name
6. 
   6
   Confirm your bank account. PayPal will send you an e-mail with instructions on completing the process. Usually, you can confirm your account one of two ways.

   • If you do online banking, you can follow the instructions to confirm your bank account instantly.
   • If you do not do online banking, PayPal will deposit two small amounts, each under $1.00 USD, into your bank account. This will occur within two to three days. After they show up, note the two amounts and log into your PayPal account to enter those amounts, thereby confirming that you have access to the account you specified.
   Ad

Part 2 of 3: Transferring Money from PayPal to Your Bank Account^[3]

1. 
   1
   Log into your PayPal account. If you are not already logged in, enter your e-mail address and password in the appropriate fields and click on the gray "Log in" button.

   • The log in button should be located in the upper right corner of the main page.
   • After successfully logging in, PayPal will transfer you to your user account page. The "Account" tab will already be open.
2. 
   2
   Choose "Transfer to Bank Account" from the "Withdraw" menu. Hover your cursor over the “Withdraw” menu on your “My Account” page. From the menu that pops up, click on “Transfer to Bank Account.”

   • The “Withdraw” menu should be the third option from the left.
   • Note that this option will only work if you have a bank account currently linked to PayPal. If you do not, go back and follow the instructions to link your bank account to PayPal.
   • Also note that you cannot send money directly to another person's bank account. When transferring money to another PayPal user, you must send it to that person's PayPal account.
3. 
   3
   Enter the amount when prompted. You can transfer as much money as you want as long as the money is currently in your PayPal account.

   • Note that there are minimum withdrawal amounts, however. The minimum withdrawal accounts, as specified by PayPal, are:
     • U.S. Dollars, $1.00 USD
     • Australian Dollars, $2.00 AUD
     • British Pounds, £1.00 GBP
     • Canadian Dollars, $2.00 CAD
     • Czech Koruny, 20.00 CZK
     • Danish Kroner, 6.00 DKK
     • Euros, €2.00 EUR
     • Hong Kong Dollars, $8.00 HKD
     • Hungarian Forints, 200 HUF
     • Israeli New Shekels, ₪4.00 ILS
     • Japanese Yen, ¥200 JPY
     • Mexican Pesos, $11.00 MXN
     • New Taiwan Dollars, NT$330 TWD
     • New Zealand Dollars, $2.00 NZD
     • Norwegian Kroner, 7.00 NOK
     • Philippine Pesos, P50.00 PHP
     • Polish Zlotys, 3.00 PLN
     • Singapore Dollars, $2.00 SGD
     • Swedish Kronor, 8.00 SEK
     • Swiss Francs, 1.00 CHF
     • Thai Baht, ฿36.00 THB
4. 
   4
   Choose the right bank account and click "Continue." Your default bank account will always be pre-selected. Click on the “Continue” button at the bottom of the screen to submit your transaction details.

   • If you only have one bank account linked to PayPal, you will not need to change anything. You only need to worry about this step if you have multiple bank accounts linked.
5. 
   5
   Confirm the details and click on “Submit.” Before the transfer to your bank account will go through, you must review the confirmation page to verify that the information listed is correct. If it is, click on the “Submit” button to complete the process.
6. 
   6
   Watch your bank account over the next 3 to 4 business days. The transfer will not be immediate, but for US bank accounts, it almost always goes through within 3 to 4 business days.

   • Note that transfers to Canadian banks may take 7 to 8 business days.
   Ad

Part 3 of 3: Transferring Money from Your Bank Account to PayPal^[4]

1. 
   1
   Log into your PayPal account. If you are not already logged in, do so now by entering your e-mail address and password in their corresponding fields on the main page. Click on the gray "Log in" button to continue.

   • The log in fields are located in the upper right corner of the screen.
   • After logging in, you will be taken to your user account page. The "Account" tab should already be open, which is where you will need to be.
2. 
   2
   Choose "Add Funds from a Bank Account" from "Add Money." Hover your cursor over the “Add Money” or “Add Funds” menu. “Add Money from a Bank Account” should appear on the drop-down menu.

   • The “Add Money” menu should appear second from the left on your “My Account” page.
   • If the “Add Money from a Bank Account” option does not appear, check your profile and security settings to determine whether or not your account is set up to allow transfers from your bank account to your PayPal account.
3. 
   3
   Select the right bank account. On the “Add Money” page, you will be prompted to select a bank account. You can only choose from bank accounts you have linked to your PayPal account.

   • If you only have one bank account linked to your PayPal account, this bank will be automatically selected and you will not need to change anything.
4. 
   4
   Enter the amount and click "Continue." Type the amount of money you want to transfer where prompted and click on the “Continue” button to submit the information.

   • Before transferring money from your bank account, make sure that you have that much money in your bank account.
5. 
   5
   Confirm the details and click on "Submit." Before the request can be completed, you will be asked to review the details one final time. If everything is correct, click on the “Submit” button at the bottom of the page to complete the transfer.
6. 
   6
   Wait for the money to appear. If coming from a US bank, it should only take 3 to 4 business days.

   • Note that transfers to Canadian banks may take 7 to 8 business days.
   Ad

We could really use your help!

Can you tell us about
volunteering?

Yes

No

Can you tell us about
personal finance?

Yes

No

Can you tell us about
personal hygiene?

Yes

No

Can you tell us about
arts and crafts projects?

Yes

No

Sources and Citations

1. ↑ https://www.paypal.com/webapps/helpcenter/article/?solutionId=10327
2. ↑ https://www.paypal.com/webapps/helpcenter/article/?articleID=94040&m=SRE
3. ↑ https://www.paypal.com/webapps/helpcenter/article/?articleID=94037&m=SRE
4. ↑https://www.paypal.com/helpcenter/main.jsp;jsessionid=xdhLRw4dD27HjRr2PgLN6lvTjSDz72wYvsmvYqyvFycn1pv2ThzH!68009712?locale=en_US&_dyncharset=UTF-8&countrycode=CA&cmd=_help&serverInstance=9010&t=solutionTab&ft=browseTab&ps=solutionPanels&solutionId=11125&isSrch=Yes