So you've set up your PayPal account, and have received some money from family, a friend, or some gig work.
You may be wondering how to move your money from PayPal into your bank, so you can use your money.
Today, we're going to show you exactly how to transfer money from PayPal into your bank.
Thankfully, it's pretty easy and can be quick to set up.
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In order to move money to your bank from your PayPal account, you'll need to link your bank account and PayPal together. After your bank is set up inside PayPal, you'll be able to easily move your money between these accounts through either an instant transfer, or a standard transfer.
We'll go over both options after we show you how to link your bank account!
If you haven't linked your bank account to PayPal, you'll have to do that before transferring any money over.
Thankfully, connecting your bank to PayPal has never been smoother.
Go into your PayPal app, or log in to your account online, and follow these steps:
In the event that your bank isn't eligible for an instant link, you can still add your bank through a "manual" option, where PayPal will send 2 microdeposits to your bank, which it will withdraw, and ask you to verify the deposit amounts.
Here's how to manually link your bank to PayPal:
Setting up your bank account in PayPal will allow you to perform standard transfers of money for free, while also allowing for instant transfers with a set fee.
As mentioned prior, once you've linked your bank to PayPal, you can perform either an instant transfer for a fee, or a free standard transfer that takes a few business days to process.
First, we'll show you the transfer steps for the website, and then we'll go over how to transfer money using the PayPal app.
Log in to PayPal online, and take the following steps:
Open and log in to your PayPal app, and take the following steps:
With instant transfers, PayPal deducts a 1.75% fee from your transferred funds (minimum $1.50).
Standard transfers can take between 1-3 business days to transfer. Be sure to remember any business holidays when performing standard transfers, as they can add to the processing time for your transfer.
PayPal is a major payment processor, used by an enormous amount of people, banks, and online stores.
The services they offer are quite efficient and offer a smooth user experience for most.
Once you've linked your bank for PayPal transfers, things only get smoother.