Yes, you can link a savings account to PayPal, but PayPal works better with checking accounts
You can add a savings account to your PayPal account, and PayPal will accept it. However, PayPal is designed to move money in and out quickly — which is what a checking account does. A savings account is meant to hold money and earn interest, and moving money in and out frequently can trigger fees or reduce your interest earnings depending on your bank.
If you only plan to link the savings account as a backup payment method (so PayPal tries your checking account first, then your savings account if the checking account has no funds), this works fine. But if you plan to regularly send money from PayPal to that savings account or receive PayPal payments into it, a checking account is the better choice.
The process of linking is the same whether you use checking or savings — the difference is in how often you should use it.
Key Takeaways
- PayPal accepts savings account links, but your bank may charge a fee if you move money in and out too frequently.
- You will need your bank's routing number and your account number to link any bank account to PayPal.
- PayPal will make two small test deposits to verify the account is yours before you can use it.
- A checking account is better suited to PayPal's typical use because money moves in and out more often.
- You can link multiple accounts and choose which one PayPal uses each time you send money.
What information you need to link a savings account
Before you start, gather two pieces of information from your bank or a recent bank statement: your routing number (a nine-digit code that identifies your specific bank branch) and your account number (the number of your savings account at that bank). These are usually printed at the bottom of a check, but if you do not have checks, you can call your bank or log into your online banking to find them.
You will also need to know your PayPal password. If you do not have a PayPal account yet, you will need to create one first using an email address and a password of your choice.
The steps to link your savings account
Log into your PayPal account on a computer or in the PayPal app. Go to your account settings — this is usually called "Account" or "Settings" depending on whether you are on the website or the app. Look for a section called "Wallet" or "Bank and Cards" and select the option to add a bank account.
Enter your bank's name, your routing number, and your account number. PayPal will ask you to confirm the account type — make sure you select "Savings" so PayPal knows what kind of account it is. Then review the information and submit it.
PayPal will then make two small deposits into your savings account — usually less than one dollar each. This takes one to two business days. Once the deposits appear in your account, you will need to log back into PayPal and confirm the exact amounts of those two deposits. This step proves that you own the account.
After you confirm the amounts, your savings account is linked and ready to use.
Why your bank might charge you a fee
Many savings accounts have a limit on how many times per month you can move money out without paying a fee. This limit is often called a withdrawal limit or transaction limit, and it is usually between three and six withdrawals per month depending on your bank. If you exceed that limit, your bank may charge you a fee — often two to ten dollars per extra withdrawal.
If you use PayPal frequently to send money to friends or to pay for purchases, you could hit that limit quickly and start paying fees. A checking account typically has no limit on withdrawals, which is why it pairs better with PayPal's typical use.
Before you link your savings account, check your bank's rules. You can call your bank's customer service line or log into your online banking to find the withdrawal limit for your specific account.
Using your savings account as a backup payment method
If you want to link your savings account but use it only when your checking account runs low, you can set PayPal to try your checking account first. When you send money or make a purchase through PayPal, you will see a list of linked accounts and can choose which one to use. You can also set a default account in your settings, and PayPal will use that one unless you change it for a specific transaction.
This approach lets you keep your savings account linked without worrying about hitting withdrawal limits, because you will only use it occasionally.
What happens if you link the wrong account type
If you accidentally tell PayPal your account is a checking account when it is actually a savings account, or vice versa, PayPal will still work — but your bank's rules still explore. If you exceed your savings account's withdrawal limit, your bank will charge you the fee regardless of what you told PayPal. The important thing is what your bank's actual rules are, not what label you used when linking.
If you realize you made a mistake, you can remove the account from PayPal and add it again with the correct type. To remove an account, go to your Wallet or Bank and Cards section, find the account, and select "Remove" or "Delete".
Frequently Asked Questions
How long does it take to link a savings account to PayPal?
The linking itself is when ready, but you cannot use the account until PayPal's two test deposits clear, which takes one to two business days. After that, you need to confirm the deposit amounts, which usually takes a few minutes. Total time is typically two to three business days.
Can I link a savings account from a different bank than my checking account?
Yes. You can link accounts from different banks to the same PayPal account. Each account needs its own routing number and account number, and each one goes through the same two-deposit verification process.
What if the test deposits do not show up in my savings account?
Wait two to three business days — deposits from PayPal sometimes take longer than deposits from other sources. If they still have not appeared after three business days, check that you entered the routing number and account number correctly. If they are correct, contact PayPal's customer service to ask them to resend the test deposits or try a different verification method.
Can I remove my savings account from PayPal later?
Yes. Go to your Wallet or Bank and Cards section, find the savings account, and select the option to remove or delete it. You can do this at any time. Removing it does not affect your savings account itself — it only disconnects it from PayPal.
Will linking a savings account to PayPal affect my interest earnings?
Not directly. Your interest is based on your account balance and your bank's interest rate. However, if you move money in and out frequently and hit your withdrawal limit, the fees your bank charges will reduce your overall earnings.