How to Withdraw Money from PayPal and Put It in Your Bank Account in Three Different Ways

If you have funds in your PayPal account and would like to withdraw them to your bank account, you can do so quickly and easily by following the steps outlined in this wikiHow article.

  1. 1

    To use PayPal, launch the app on your iOS device. An image of a white "P" on a blue background serves as the icon. The app can be accessed in a number of ways, including browsing to it on the Home screen, looking for it in the app drawer, or conducting a search for it. Selecting this link will transport you to your PayPal account's control panel.

    • Just follow the on-screen prompts to sign in to your PayPal account if you aren't already.
    • A recipient must first sign up for PayPal and link a bank account before you can transfer funds to that person's account. Next, they can simply transfer the funds to their own account after receiving the money from you via the cost-free "Friends and Family" option.
  2. 2

    Tap Transfer below your PayPal credit Your current equilibrium will be displayed on the left side of the screen.

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  3. 3

    Just type in the amount you wish to send. If you prefer to keep a balance in PayPal, you can transfer less than the full amount. Any money sent must start at $1. [1]

  4. 4

    Pick between a regular transfer and an instant one. Below your transfer amount, you'll see two tiles: "In minutes (Instant)" and "1-3 days"

    • With just a few clicks and a nominal fee, your money can be transferred to your bank account in a matter of minutes. Tiles with the associated cost are clearly displayed.
    • Free standard bank transfers typically take between one and three business days to appear in your account. On weekends and holidays, the processing time for wire transfers made after 7 p.m. may increase.
      • It could take longer or cost more for some banks to process the transfer. [2] Most major banks will not impose such fees, and they will complete the transfer in one to three business days with no issues.
  5. 5

    Choose a bank account To switch to the correct bank account, tap Change if it is not already highlighted.

    • If the bank you want to transfer to isn't listed, you'll need to add it to PayPal before you can withdraw your money.
  6. 6

    Tap the Send a Payment of $(Amount) Right Away button Locate it at the display's footer. Here, your money will be deposited into the account you specify.

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  1. 1

    Check out https://www.paypal.com. Please sign in to your account now if you haven't already done so.

    • A recipient must first sign up for PayPal and link a bank account before you can transfer funds to that person's account instead of your own. The recipient can then deposit the funds into their own bank account with ease after receiving the money from you via the cost-free "Friends and Family" option.
  2. 2

    Click the Send Funds button Under your current balance on the left side of the page you'll see this.

  3. 3

    Select Submit a wire transfer to your bank With this option, you can have money transferred to your bank account.

    • To send money to a foreign bank that isn't already connected to your PayPal account, use Xoom's Transfer abroad service. Xoom is a service that allows you to transfer money from your PayPal account to a bank in more than 100 different countries.
  4. 4

    Select the transfer type (Standard or Instant) and then click Next Here, you'll find a list of all your connected accounts. If the bank you want to withdraw to isn't listed, you'll need to add it to your PayPal account before you can make a withdrawal.

    • If you need the money quickly and don't mind paying a fee, you can transfer it instantly to your bank account or debit card by selecting "Instant."
    • If you select your bank account under "Standard" and are fine with waiting 1–3 business days for the funds to arrive, you can initiate a fee-free transfer. "
      • The transfer may take longer or cost more at some banks. [3] The majority of large financial institutions offer no-cost wire transfers that can be processed in 1–3 business days.
  5. 5

    Transfer amounts can be entered and reviewed before being finalized. Make sure you have the correct bank account selected before continuing.

  6. 6

    Click Please send (amount) now If you click this, PayPal will begin transferring money to your bank account. To return to your PayPal account after the transaction has been completed, simply select Done.

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  1. 1

    You are unable to make a transfer at this time due to a restriction on your PayPal account. If this message appears, you need to provide additional identification or verification to unlock your account. [4] To do so:

    • To file a PayPal dispute, visit https://www.paypal.com/disputes.
    • Pick View Your Limits to Continue
    • Any unmet needs can be addressed by selecting the Resolve button.
    • Please submit the required paperwork.
      • Any valid government-issued photo ID, work permit, or permanent resident card will suffice as proof of identity.
      • Utility bills or bank/financial statements dated within the previous 3 months are acceptable forms of proof of address.
      • Certificates of marriage, divorce, or a new name commitment are all valid legal documents that can be used to legally change a person's name.
      • Articles of incorporation, business licenses, and other forms filed with the relevant state government all constitute "business documents."
    • When PayPal receives and verifies your requested documents, the hold on your account will be removed, allowing you to make bank account withdrawals.
  2. 2

    Possibly, our security system has picked up on some suspicious behavior. Withdrawal authorization failed; please complete a security check to continue. [5] Pick a method of identification from the "Let's make sure it's you" menu, and then click Continue.

  3. 3

    Your bank or debit card may not support Instant Transfer. If you try to make an instant transfer to a bank that is not supported, you will see this error. To avoid this, you can either switch to a different bank or transfer method, or you can stick to a more conventional transfer method.

  4. 4

    The bank account information you provided doesn't match what they have on file." Possible causes of this error include not updating PayPal with changes to your bank account details such as a new name, address, or account number. Verify that you entered your correct bank information into PayPal before continuing.

    • If this happens, you may need to remove and add the bank account again in PayPal.
  5. 5

    Instead of taking money out of your bank account, you could try something else.

    • You can avoid fees by using a debit card and linking it to your PayPal account.
    • In the United States, you can get a PayPal Cash Card that functions like a Mastercard and can be used to withdraw cash from ATMs for a fee or to make purchases anywhere Mastercard is accepted. [6]
    • Get Cash is a feature exclusive to the United States that allows you to withdraw your PayPal balance at any of Walmart's 4,600 locations. [7] After selecting the option to transfer your balance, click the Get cash button and proceed with the on-screen instructions.

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Questions Not Listed
  • Question

    Can I use PayPal to send money to someone who doesn't have a PayPal account?

    Community Answer

    If the recipient does not have a PayPal account, your payment will be declined.

  • Question

    How much of a charge will I incur if I move money from my PayPal to my regular bank account?

    Community Answer

    In most cases, you will incur a small withdrawal fee in addition to the processing fee determined by PayPal based on your country and currency. Currency conversion fees may also apply if the amount you wish to transfer is not in the same currency as your bank account.

  • Question

    Will Paypal allow me to transfer funds to another person's bank account?

    Community Answer

    If you have access to that person's account details, then yes.

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Hannah Cole

Co-authored by Hannah Cole and Nicole Levine, MFA of the wikiHow staff Specializing in tax preparation, Sunlight Tax was founded by Enrolled Agent Hannah Cole. Hannah is an artist and tax expert with over a decade of experience in freelance taxation. She focuses on tax preparation for artists and other creative professionals who work for themselves or small businesses, as well as on the unique tax considerations that arise when starting a creative business and managing one's own creative finances. She's qualified to give advice on tax matters and represent clients before the IRS because she holds an Enrolled Agents license. She has given talks on taxes for artists at places like RISD, Cornell University, the Boston Foundation, and the Harvard Education Portal. Hannah has a Bachelor of Arts from Yale University in Art History, a Master of Fine Arts in Painting from Boston University, and an Associate of Arts from Brooklyn College in Accounting. There have been 1,117,151 views of this article.

Co-authors: 18

Updated: Time: Tuesday, November 16, 2022

Views:  1,117,151

Categories: PayPal

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