Yes, you can link your bank account to PayPal, and it takes about five minutes
PayPal lets you connect a checking or savings account directly so you can send money, receive payments, and move funds between your bank and PayPal balance without using a debit card. The connection happens through a verification process where PayPal deposits two small amounts (usually under $1 each) into your account, and you confirm the exact dollar amounts to prove you own the account.
You will need your bank's routing number and your account number, both printed on the bottom left of your checks or available through your bank's website or app. The whole process—from entering your details to full verification—typically takes three to five business days, though you can often use the account for some transactions before verification completes.
Key Takeaways
- PayPal verifies bank accounts by depositing two small amounts and asking you to confirm the exact dollar values, which takes three to five business days.
- You need your routing number and account number from your bank, which appear on your checks or in your bank's online portal.
- Once linked, you can send money to other PayPal users, receive direct deposits, and transfer funds to your bank account without paying a fee.
- PayPal will not charge you to link an account, but some banks may charge their own fees for incoming transfers depending on your account type.
What information PayPal asks for when you link an account
When you start the linking process in PayPal's settings, you will enter your bank's name, your account type (checking or savings), your routing number, and your account number. PayPal uses this information to initiate the two small deposits that serve as proof of ownership.
You do not need to provide your online banking password, PIN, or any other login credentials. If PayPal ever asks for these, stop and contact PayPal directly—that is not part of the legitimate linking process. Some banks offer when ready verification through a service called Plaid, which lets you log in to your bank account once within PayPal's interface to confirm ownership when ready, but this is optional and not required.
How the verification deposits work and what to watch for
Within one to two business days, PayPal deposits two amounts into your account—typically between $0.01 and $0.99 each. These appear as small credits in your bank statement. You then return to PayPal and enter the exact dollar amounts of both deposits. Once PayPal confirms your entries match, your account is fully verified.
Check your bank statement online or through your bank's app rather than waiting for a paper statement, since those can take weeks. If you do not see the deposits after three business days, contact PayPal support with your account details. Occasionally deposits fail if your bank blocks them or if there is a mismatch in your account information—PayPal will tell you if this happens and let you correct the details and try again.
What you can do once your bank account is linked
A linked bank account lets you send money to other PayPal users without a debit card, receive direct deposits from employers or other sources into your PayPal balance, and transfer money from PayPal back to your bank account. Transfers to your bank typically take one to three business days, depending on your bank.
You can also use your linked account to fund purchases on PayPal without keeping a balance there. If you make a purchase and your PayPal balance is low or empty, PayPal can pull the money directly from your bank account instead. This happens when ready for most transactions, though some merchants may require a slight delay while the transfer processes.
Fees and what your bank might charge
PayPal does not charge you to link a bank account or to transfer money from PayPal to your bank. However, your bank may charge its own fees depending on your account type and the number of transfers you make. Most checking accounts allow unlimited transfers without penalty, but some savings accounts or money market accounts limit the number of transfers per month and charge a fee if you exceed that limit.
Contact your bank directly if you are unsure about their transfer policies. The fee, if any, would appear on your bank statement as a charge from your bank, not from PayPal. You can also check your bank's fee schedule on their website or in the account agreement you received when you opened the account.
Unlinking your account or changing which account is linked
You can remove a linked bank account from PayPal at any time through your account settings. Go to Wallet, then Banks and Cards, find the account, and select Remove. The account is disconnected when ready, though any pending transfers will still complete.
If you want to link a different bank account instead, you can add a new one while keeping the old one linked, or remove the old one first and then add the new one. Each new account goes through the same two-deposit verification process. If you closed the bank account that is currently linked to PayPal, remove it from PayPal as soon as possible to prevent failed transfers.
What happens if your bank account information changes
If you change banks, close your account, or switch to a different account at the same bank, update your PayPal information before you need to use it. Go to your Wallet settings, remove the old account, and add the new one. The new account will need to go through verification again.
If you try to transfer money to a bank account that no longer exists or has been closed, PayPal will attempt the transfer and it will fail. The money returns to your PayPal balance within a few business days, and PayPal will notify you of the failed transfer. You can then link a current account and try again.
Frequently Asked Questions
How long does it take to verify a bank account with PayPal?
The two verification deposits usually arrive within one to two business days. Once you see them in your bank statement and enter the amounts into PayPal, verification is when ready. Total time from linking to full verification is typically three to five business days, though you may be able to use the account for some transactions before the deposits arrive.
Can I link a savings account instead of a checking account?
Yes, PayPal accepts both checking and savings accounts. The process is identical. Keep in mind that some savings accounts limit the number of transfers per month and charge a fee if you exceed that limit, so check your bank's policy before linking a savings account you plan to use frequently.
What if the verification deposits do not show up in my account?
Wait three to five business days, as deposits can take longer depending on your bank. If they still have not arrived, log into PayPal and check whether there is an error message about your account information. Contact PayPal support with your account details and they will investigate. Sometimes your bank blocks small deposits from unfamiliar sources, so you may also want to contact your bank to ask if they received and rejected the deposits.
Is it safe to give PayPal my routing and account number?
Yes. Your routing and account number are the standard information used for legitimate bank transfers and direct deposits. PayPal uses these to verify ownership through the deposit method, not to access your account or withdraw money without your permission. You should never give PayPal your online banking password or PIN.
Can I link multiple bank accounts to one PayPal account?
Yes, you can link more than one bank account. Each account goes through the same verification process. You can then choose which account to transfer from when you move money out of PayPal, or set a default account for automatic transfers.