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

    Launch the PayPal application on your mobile device (Android, iOS, iPad). One can recognize it by the white "P" set against the blue background. The app can be accessed from the Home screen, the app list, or a search. To access your PayPal account, click here.

    • You can sign into your PayPal account by following the on-screen prompts if you are already registered.
    • A recipient must first sign up for PayPal and link a bank account before you can transfer funds to that person's account. Then, you can have them receive the funds through the cost-free "Friends and Family" option, from which they can then easily withdraw the funds to their own bank account.
  2. 2

    Tap Transfer right below your PayPal account's equilibrium On the left side of the display, you'll find your current balance.

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  3. 3

    Specify the amount you wish to send If you prefer to keep a balance in PayPal, you can transfer less than the full amount. There must be at least one dollar in the amount to transfer. [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 "in 1-3 days."

    • You can have your money transferred to your bank account in a matter of minutes for a nominal fee. The tile displays the associated cost.
    • Standard bank transfers typically take between one and three days to reach their destination. It could take a little longer for wire transfers made on the weekend or a holiday if they are requested after 7 p.m.
      • A bank transfer may incur fees from some financial institutions or take longer to complete at the discretion of those institutions. [2] Large financial institutions typically do not charge such fees, and transfers are completed in as little as one to three business days.
  5. 5

    Pick a bank account. Don't hesitate to tap Change and make the appropriate account selection if it isn't already highlighted.

    • You must add your preferred bank to PayPal if it is not already linked in order to make a withdrawal.
  6. 6

    Tap the Send a payment of (number) right now button Towards the bottom of the screen. It will send the specified amount to the bank account you specify.

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  1. 1

    Visit the PayPal site at https://www.paypal.com. Please sign in to your account now if you haven't already done so.

    • You can only transfer funds to another PayPal user who has also signed up for and linked their own bank account with PayPal. They can then easily transfer the funds to their own account after receiving the money from you using the free "Friends and Family" option.
  2. 2

    Click the Send Money button On the left side of the page, below your current balance, you'll see this.

  3. 3

    Select Put money in the bank Initiating a withdrawal to your linked bank account is a possibility here.

    • Select Transfer abroad with Xoom if you need to send money to a foreign bank account that isn't already associated with your PayPal account. Utilizing the Xoom service, you can move money from your PayPal account to a bank in more than a hundred different countries.
  4. 4

    After deciding between Standard and Instant transfers, a user can confirm the transaction by clicking the corresponding button. Next This is where you can view your linked accounts. To withdraw money from PayPal if your preferred bank is not listed, you must first add it as a linked account.

    • If you need the funds quickly and don't mind paying a fee, you can transfer them instantly to your bank account or debit card by selecting "Instant."
    • If you select your bank account under "Standard" and don't mind waiting 1–3 business days for the funds to arrive, you can make a fee-free transfer. "
      • It could take longer or cost more for some banks to process the transfer. [3] The majority of major banks offer free wire transfers that can be processed in 1–3 business days.
  5. 5

    Put in the amount you want to send and double-check your selections. Verify that you have the correct bank account selected before continuing.

  6. 6

    Click Send a Payment of (a Number) Right Now The money in your PayPal account will be sent to your bank shortly after you click this. When the transaction is complete, you can go back to your PayPal account by clicking the Done button.

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  1. 1

    Currently, your PayPal account has a restriction that prevents you from making transfers. 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.
    • The Limitations Section Can Be Accessed By Selecting This Link
    • If there are any open requests, click or tap the button labeled "Resolve."
    • Kindly submit the required paperwork.
      • Any valid government-issued photo ID, work permit, or permanent resident card will suffice if you're asked to prove your identity.
      • Utility bills and bank or financial statements dated within the previous three months are acceptable forms of proof of address.
      • Certificates of marriage, divorce, or recommitment all qualify as legal name change documents.
      • Articles of incorporation, business licenses, and other forms filed with the relevant state government all constitute "business documents."
    • After PayPal reviews your paperwork, the hold will be removed and the funds can be transferred.
  2. 2

    Perhaps our surveillance system picked up on some suspicious behavior. Withdrawal authorization failed; please complete a security check to continue. [5] To verify your identity, select one of the options from "Let's make sure it's you," and then click Continue.

  3. 3

    Your bank or debit card may not support Instant Transfer. You will see this message if you attempt an instant transfer to a bank that is not supported. You can avoid this by using a different bank or transfer method, or by sticking to the tried-and-true standard transfer.

  4. 4

    The bank account information you provided doesn't match what they have on file." This could be because you haven't updated PayPal with your most recent banking information, such as a change in your account's name, address, or account number. Verify that you entered the 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

    Don't rely solely on taking money out of your bank account.

    • Transfer funds from your PayPal account to a debit card instead.
    • The PayPal Cash Card, available to those in the United States, can be used to make purchases wherever Mastercard is accepted, as well as to withdraw cash from ATMs for a small fee. [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, select Get cash and proceed per the on-screen prompts.

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The question you've just added has been removed.
  • Question

    Can I use PayPal to send money to someone who does not use PayPal?

    Community Answer

    It is not possible to send money to someone who does not have a PayPal account.

  • Question

    When I withdraw funds from PayPal, how much will I be charged?

    Community Answer

    There will likely be a small withdrawal fee, plus a processing fee determined by PayPal based on your country and currency. If the currency of the balance you wish to transfer is different than the currency of your bank account, you may also be subject to a currency exchange fee.

  • Question

    I have a PayPal account; can I transfer funds to another person's bank account?

    Community Answer

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

Check out the FAQ for more details.

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Hannah Cole

Hannah Cole and Nicole Levine, MFA, of the wikiHow staff wrote this article. Sunlight Tax was founded by Enrolled Agent Hannah Cole. Over the course of her decade-plus of experience in the field, artist and tax expert Hannah has developed a particular expertise in the preparation of tax returns for artists and other creative professionals who work independently, the formation of businesses for artists, and the management of the personal finances of creative professionals. She has the IRS-issued Enrolled Agents license, certifying her as an expert in tax law and authorized to represent clients before the IRS. In addition to the Harvard Ed Portal, the Boston Foundation, the New York Foundation for the Arts, RISD, and Cornell University have all invited her to speak on the topic of taxes for artists. Hannah has a Bachelor of Arts in Art History from Yale University, a Master of Fine Arts in Painting from Boston University, and a Certificate in Accounting from Brooklyn College. So far, this article has been read 1,117,151 times!

Co-authors: 18

Updated: Saturday, November 16, 2022

Views:  1,117,151

Categories: PayPal

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