How to Transfer Money from PayPal to a Bank Account



How to Transfer Money from PayPal to a Bank Account

Steps

Withdrawing Money from PayPal (iPhone/Android)

  1. Open the PayPal app.It's the white "P" outlined on a blue background icon.
  2. TapLog In.You'll see this option in the bottom left corner of the screen.
  3. Enter your email address and password.You'll need to tapLog Inwhen you're finished.
    • If your PayPal accepts Touch ID, you can scan your fingerprint to open PayPal instead.
  4. TapManage Balance.It's near the top of the screen; this tab displays your current balance.
  5. TapTransfer Money.This option is in the bottom right corner of the screen.
    • You won't see this option if you have less than one dollar in your PayPal balance.
  6. Select the bank account you'd like to withdraw it to.Generally, checking accounts that you have added to PayPal come as free deposit),may be limited to a deposit of a banking day or two. However, if you added a debit card (which can be received in a matter of minutes) added to your PayPal account, these will cost you twenty-five cents. Tap one, then select at the bottom of the screen.
    • If you decide to make the transfer after 7pm, on a weekend or holiday, expect this to take a little longer. Transfers also are subject to review and could be delayed or stopped if they find an issue on your end.
  7. Type in the amount you wish to withdraw.There isn't a decimal point button on the PayPal keypad but along with the traditional 10 single numerical digits from zero to nine, there is also a "00" key, so type your answer accordingly.
    • For example: if you want to withdraw three dollars, you'd type "300".
    • You must withdraw a minimum of .00.
  8. Tap .It's at the bottom of the screen.
  9. TapTransfer.This option is at the bottom of the screen. Doing so will transfer your selected amount of money from PayPal into your bank account.
    • The transfer usually occurs by the following day if submitted before 7:00 PM (ET), though it can take longer if you submit a transfer on a weekend or a holiday.

Withdrawing Money from PayPal (Desktop)

  1. Open the .Since PayPal is essentially a banking service, you'll need to log in to view your PayPal account.
  2. ClickLog In.It's in the top right corner of the page.
  3. Enter your email address and password.You'll do this in the fields in the middle of this page. When you're done, you can clickLog Inbelow the password field to log into your account.
  4. ClickMy PayPal.It's in the top right side of the page. Doing so will take you to your account page. This step will only be needed, if you don't have advertisements that have a button that says "Account Overview".
  5. ClickTransfer to your bank.This link is below the available "PayPal Balance" and "Add money" links window in the top-left column of the page.
  6. Select the bank account you'd like to withdraw it to.Generally, checking accounts that you have added to PayPal come as free deposit) may be limited to a deposit of a banking day or two. However, if you added a debit card (which can be received in a matter of minutes) added to your PayPal account, these will cost you twenty-five cents. Tap one, then select at the bottom of the screen.
    • If you decide to make the transfer after 7pm, on a weekend or holiday, expect this to take a little longer. Transfers also are subject to review and could be delayed or stopped if they find an issue on your end.
  7. Type in the amount you wish to withdraw.You'll do this in the window in the middle of the page. Use the 10-key keypad on your keyboard to enter this number beginning with the dollar amount and ending with the cents. There is no need to press the period key as the period is a static item in the display (built into the feature).
    • You must withdraw a minimum of .00.
  8. Click .It's at the bottom of the page.
  9. ClickTransfer $(dollar amount entered) Now.Doing so will transfer your money to your account.
    • The transfer usually occurs by the following day if submitted before 7:00 PM (ET), though it can take longer if you submit a transfer on a weekend or a holiday.

Sending Money with PayPal (iPhone/Android)

  1. Open the PayPal app.It's the white "P" outlined on a blue background icon.
  2. TapLog In.You'll see this option in the bottom left corner of the screen.
  3. Enter your email address and password.You'll need to tapLog Inwhen you're finished.
    • If your PayPal accepts Touch ID, you can scan your fingerprint to open PayPal instead.
  4. TapSend Money.It's in the "Send and Request" section in the middle of the screen.
    • When you send money from PayPal, money is withdrawn from your bank account if you have no PayPal balance.
  5. Type in a contact's email address or phone number.You'll do this at the top of the screen.
    • If this is your first time sending money, tapLet's get started!at the bottom of the screen.
    • You can also tap a contact's name below the search bar if there are any.
  6. Tap a person's name.If the person whose name you typed in has a PayPal account, their name will appear below the search bar.
  7. Tap a payment option.You have two payment options here:
    • Friends and Family- Personal payments; PayPal doesn't withhold any percentage of these payments.
    • Goods and Services- Business-related payments; PayPal withholds 2.9 percent of the amount you send, plus an additional 30 cents.
  8. Type in the amount you wish to send.There isn't a decimal point button on the PayPal keypad, so you'll need to add an extra two zeroes on the end of what you plan on withdrawing.
  9. Tap .It's at the bottom of the screen.
  10. TapSend now.This option is at the bottom of the screen. Doing so will send your determined amount to the person you chose.
    • You can review where the money is being sent from (e.g., bank account vs. PayPal account) at the bottom of the page.
    • If you want to add a note to your payment, tapAdd a notenear the top of the screen and type one in, then tapDone.

Sending Money with PayPal (Desktop)

  1. Open the .Since PayPal is essentially a banking service, you'll need to log in to view your PayPal account.
  2. ClickLog In.It's in the top right corner of the page.
  3. Enter your email address and password.You'll do this in the fields in the middle of this page. When you're done, you can clickLog Inbelow the password field to log into your account.
  4. ClickMy PayPal.It's in the top right side of the page. Doing so will take you to your account page.
  5. ClickPay or send money.You'll find this option near the top of the screen, just below the magnifying glass icon.
  6. Click a payment type.You have two options at the top of the page:
    • Pay for goods or services- Your recipient will pay a 2.9 percent fee, plus 30 cents.
    • Send money to friends and family- The transaction is free for both you and your recipient.
  7. Type in an email address, phone number, or name.You'll do so in the search bar at the top of the page. Whatever you type here has to pertain to the person to whom you're sending money.
    • You can also click on a contact's name if there is one below the search bar.
  8. Click .It's to the right of the text field.
    • If you clicked on a contact's name, skip this step.
  9. Type in the amount you wish to send.You'll do this in the window in the middle of the page.
    • You can also click theAdd a notefield to type in a note here.
    • If you wish to change the currency, click the box below the amount number and then click a currency type.
  10. ClickContinue.It's at the bottom of the page.
  11. ClickSend Money Now.This is at the bottom of the page. Doing so will send your determined amount to the person you picked. They'll have to accept your money before it's taken out of your account.

Community Q&A

Search
  • Question
    Can I send money from PayPal to someone who is not on PayPal?
    wikiHow Contributor
    Community Answer
    No, you can't send money through PayPal to a person who does not have a PayPal account.
    Thanks!
  • Question
    What fees are associated with transferring money from my PayPal account to my bank account?
    wikiHow Contributor
    Community Answer
    You can expect a small withdrawal fee in most cases, with an additional processing fee as set =by PayPal for your country/currency. You may also face a fee for the exchanging of currencies if the currency of the balance you wish to transfer is different than that of your bank account.
    Thanks!
  • Question
    Can I send money from my Paypal account to another person's bank account?
    wikiHow Contributor
    Community Answer
    Yes, as long as you have that person's account information.
    Thanks!
  • Question
    How do I transfer money from my PayPal account to my savings account?
    wikiHow Contributor
    Community Answer
    Go to "Wallet" in your PayPal account. Select "Link a Card or Bank." Follow the instructions and let PayPal verify your account. Once it is verified, select "Transfer to Bank Account."
    Thanks!
  • Question
    What is the minimum amount of money that I can transfer to my bank account?
    wikiHow Contributor
    Community Answer
    U.S. Dollars, .00 USD Australian Dollars, .00 AUD British Pounds, £1.00 GBP Canadian Dollars, .00 CAD Czech Koruny, 20.00 CZK Danish Kroner, 6.00 DKK Euros, €2.00 EUR Hong Kong Dollars, .00 HKD Hungarian Forints, 200 HUF Israeli New Shekels, ₪4.00 ILS Japanese Yen, ¥200 JPY Mexican Pesos, .00 MXN New Taiwan Dollars, NT0 TWD New Zealand Dollars, .00 NZD Norwegian Kroner, 7.00 NOK Philippine Pesos, P50.00 PHP Polish Zlotys, 3.00 PLN Singapore Dollars, .00 SGD Swedish Kronor, 8.00 SEK Swiss Francs, 1.00 CHF Thai Baht, ฿36.00 THB
    Thanks!
  • Question
    Where do I find the routing number and what is it?
    wikiHow Contributor
    Community Answer
    The routing number is used to identify your specific bank, so when a direct deposit/wire transfer goes out, it is properly directed towards your bank. You can find them on your personal checks as well as your deposit slips personalized to your bank account. If you have an online bank account, there is usually a link to direct deposit indicating what the routing number for your bank is.
    Thanks!
Unanswered Questions
  • How long does a bank transfer take?
  • How can I load money from my PayPal account to my PayPal prepaid debit card?
  • How to transfer money from your paypal account to your bank account?
  • How do I find the security code?
  • Can I get my credit limit increased to set up a transfer to my bank account?
Ask a Question
200 characters left
Include your email address to get a message when this question is answered.
  • PayPal always logs you out of the app when you close it.

Warnings

  • Attempting to transfer more than you have in your PayPal balance to your bank account may result in getting your PayPal account frozen.

Related wikiHows

Sources and Citations

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Date: 08.12.2018, 16:09 / Views: 84581