Yes, you can change your bank account on PayPal at any time
You can add a new bank account to your PayPal account, remove an old one, or switch which account PayPal uses as your default. The process takes a few minutes and happens entirely within the PayPal app or website. PayPal will ask you to verify the new account before you can withdraw money to it — this verification usually takes one to two business days.
The reason for verification is straightforward: PayPal needs to confirm you actually own the bank account you're linking. They do this by depositing two small amounts (usually under $1 each) into the account, then asking you to tell them what those amounts were. Once you confirm the amounts, the account is verified and ready to use.
Key Takeaways
- You can change your linked bank account through the PayPal app or website by going to your wallet settings and selecting the bank account section.
- New bank accounts must be verified with two small test deposits before you can withdraw money to them, a process that typically takes one to two business days.
- You can have multiple bank accounts linked to PayPal at the same time, but only one can be set as your default withdrawal account.
- If you remove a bank account, any pending transfers to that account will be cancelled, so check your activity before deleting it.
How to add or change your default bank account
Log into PayPal on a computer or open the PayPal app on your phone. On a computer, click the gear icon in the top right corner and select "Wallet." On the app, tap the menu icon (three horizontal lines) at the bottom and select "Wallet." Look for the section labeled "Linked Banks and Accounts" or "Bank Accounts."
Click "Link a Bank Account" or the plus icon to add a new one. PayPal will ask for your bank's routing number, your account number, and the account type (checking or savings). You can find both numbers on a check, or log into your bank's website to find them. Once you enter this information, PayPal will tell you that verification is pending.
To set a different account as your default, find the account you want to use and look for an option to "Set as Default" or a similar button. This is the account PayPal will use whenever you request a withdrawal unless you choose a different one at the time of transfer.
Verifying your new bank account
After you link a bank account, PayPal deposits two small amounts into it — usually between 1 and 99 cents each. These deposits appear in your bank account within one to two business days. The deposits come from "PayPal" or a similar label, so they're straightforward to spot.
Once the deposits show up in your bank account, return to PayPal and look for a prompt asking you to confirm the amounts. Enter the two numbers exactly as they appear. If you enter them correctly, your account is verified when ready and you can withdraw money to it right away.
If you don't see the deposits after two business days, check that you entered your account number correctly. If the number was wrong, you'll need to remove that account and add it again with the correct information. PayPal will not charge you for the test deposits — they're free.
Removing an old bank account
To remove a bank account, go to your wallet settings and find the account you want to delete. Look for a delete, remove, or trash icon next to the account name. PayPal will ask you to confirm that you want to remove it.
Before you delete an account, check whether you have any pending transfers to it. If you do, those transfers will be cancelled when you remove the account. You can see pending transfers in your activity or transaction history. If a transfer is pending, wait for it to complete or cancel it yourself before removing the account.
Once you remove an account, PayPal will no longer be able to send money to it. If you change your mind later, you can add the same account again, but you'll need to go through verification a second time.
What happens if your bank account information changes
If your bank merges with another bank, your routing number might change even though your account number stays the same. If your bank closes your account and you open a new one at the same bank, you'll have a new account number. In either case, you should update PayPal with the new information.
Remove the old account from PayPal and add the new one. You'll need to verify the new account with the test deposits again. During the verification period, you won't be able to withdraw money, so plan ahead if you're expecting a transfer.
If you switch to a completely different bank, the process is the same: remove the old account and add the new one with the new routing and account numbers.
Transferring money between your PayPal accounts and banks
Once your bank account is verified, you can transfer money from PayPal to that account. Go to your wallet, select the account you want to transfer to, and choose "Transfer Money." PayPal will show you how long the transfer will take — usually one to three business days, depending on your bank.
You can also receive money from other PayPal users directly into any of your linked bank accounts. When someone sends you money, you can choose which account to receive it into at the time of transfer, or let it go to your default account automatically.
If you have multiple bank accounts linked, you don't have to use the same one every time. You can choose a different account for each transfer, which is useful if you want to move money between your own accounts or prioritize which bank receives funds.
Troubleshooting common problems
If PayPal won't let you add a bank account, the most common reason is that you've entered the routing or account number incorrectly. Double-check both numbers against a check or your bank's website. Some banks also have restrictions on which accounts can be linked to third-party services — contact your bank if you keep getting an error.
If your verification deposits don't arrive after two business days, your account number may be wrong. Remove the account and add it again, paying close attention to each digit. If deposits arrive but PayPal won't accept your confirmation of the amounts, make sure you're entering the exact numbers — don't round or estimate.
If you're trying to remove an account but PayPal won't let you, you likely have a pending transfer to that account. Cancel the transfer first, then remove the account. If you still can't remove it, contact PayPal support through the help section in your account settings.
Frequently Asked Questions
Can I have more than one bank account linked to PayPal?
Yes. You can link multiple bank accounts and switch between them whenever you transfer money. Only one can be your default account — the one PayPal uses if you don't choose a specific account during a transfer. You can change your default account anytime.
How long does it take to verify a new bank account?
Verification usually takes one to two business days for the test deposits to appear in your bank account. Once they arrive and you confirm the amounts in PayPal, your account is verified when ready. The entire process typically takes two to three business days from the time you link the account.
What if I enter the wrong amounts when confirming the test deposits?
PayPal usually gives you a limited number of attempts to enter the correct amounts. If you run out of attempts, you'll need to remove the account and add it again. The test deposits are free, so you won't lose money if you have to start over.
Can I change my bank account if I have a pending transfer?
You can add a new bank account anytime, but if you try to remove the account your pending transfer is going to, PayPal will cancel that transfer. Wait for the transfer to complete before removing the old account, or choose a different account to remove.
Do I have to verify every bank account I add?
Yes. Every new bank account linked to PayPal must be verified with the two test deposits, even if you've verified other accounts before. This is a security measure to confirm you own each account.