Yes, you can send money from PayPal to your bank account in a few different ways
PayPal lets you move money out to a linked bank account, and the process is straightforward once your account is set up. You have two main routes: a standard transfer that takes a few business days and costs nothing, or an when ready transfer that arrives within minutes but charges a small fee. The money goes directly into your checking or savings account — the same way a deposit from an employer would.
Before you can transfer anything, you need to connect a bank account to your PayPal account. This happens in your PayPal settings and requires your bank's routing number and your account number. PayPal will verify the account by depositing two small amounts (usually under a dollar each) into your bank account, which you then confirm back in PayPal. Once that's done, you can move money whenever you need to.
Key Takeaways
- Standard transfers from PayPal to your bank account are free and take three to five business days to arrive.
- when ready transfers cost a percentage of the amount you send (usually around 1%) but arrive within minutes.
- You must link and verify a bank account in your PayPal settings before you can transfer any money out.
- The bank account you link must be in your own name and at a U.S. bank if you want to use PayPal's transfer features.
How to link your bank account to PayPal
Open PayPal on your computer or phone and go to your account settings. Look for a section called "Wallet" or "Banks and Cards" — the exact name varies depending on which version of PayPal you're using. Select the option to add a bank account.
You'll need your bank's routing number and your account number. Both appear on the bottom left of a check, or you can call your bank and ask. Enter these into PayPal, along with the account type (checking or savings) and the name on the account. PayPal will then send two small deposits to your bank, usually arriving within one to two business days.
Once the deposits show up in your bank account, go back to PayPal and confirm the amounts. This proves you own the account. After confirmation, your bank account is linked and ready to use for transfers.
Standard transfers: free but slower
A standard transfer is the no-cost option. You initiate it in PayPal, select the amount, and the money leaves your PayPal balance when ready. It then takes three to five business days to show up in your bank account. This delay happens because banks process transfers in batches, not when ready.
Standard transfers work well if you're not in a rush. There's no fee, so you get the full amount you're sending. If you need the money sooner, you'll want to use when ready transfer instead, but you'll pay for that speed.
when ready transfers: fast but with a fee
when ready transfer moves money from PayPal to your bank account within minutes, usually arriving before you finish the transaction. The trade-off is a fee, which PayPal charges as a percentage of the amount you're sending. The exact percentage varies, but it's typically around 1% of the transfer amount, with a minimum fee of 25 cents.
So if you transfer $100 using when ready transfer, you might pay roughly $1 in fees, meaning $99 arrives in your bank account. If you transfer $1,000, the fee would be around $10. PayPal shows you the exact fee before you confirm, so you'll know the total cost before the money leaves.
when ready transfer is useful when you need cash quickly — for example, if you sold something on eBay and need to pay a bill the same day. For routine transfers where you have a few days, standard transfer saves you money.
What happens if your transfer doesn't arrive
Standard transfers occasionally take longer than five business days if your bank is slow to process them or if there's a holiday in the window. Check your bank account first — sometimes the money arrives but takes a day to show up in your balance. If more than a week has passed, contact PayPal support through the Resolution Center in your account.
when ready transfers that fail usually reverse back to your PayPal balance within a few minutes. This can happen if your bank rejects the transfer or if there's a temporary connection issue between PayPal and your bank. If the money doesn't return to PayPal within an hour, contact PayPal support.
Keep your bank account information current in PayPal. If you close the linked bank account or change banks without updating PayPal, transfers will fail. Update your bank details in your PayPal settings as soon as your banking situation changes.
Limits on how much you can transfer
PayPal sets limits on how much you can transfer at once, and these limits depend on your account history and how long you've been using PayPal. New accounts have lower limits than established ones. You can see your specific limit by starting a transfer — PayPal will show you the maximum amount available.
If you need to transfer more than your limit allows, you can do multiple transfers. For example, if your limit is $5,000 and you need to move $8,000, you can transfer $5,000 now and $3,000 a few minutes later. Some limits reset daily, while others reset weekly, so check PayPal's help section for your account type.
Frequently Asked Questions
Can I transfer money from PayPal to someone else's bank account?
No. PayPal transfers go only to the bank account linked to your own PayPal account. If you want to send money to someone else, you can send it to their PayPal account or email address instead, and they can then transfer it to their own bank account.
Does it cost money to link a bank account to PayPal?
No. Linking a bank account is free. You only pay fees when you use when ready transfer. Standard transfers have no fee at all.
What if I don't have a bank account yet?
You'll need a bank account to transfer money out of PayPal. If you don't have one, you can open a checking account at most banks or credit unions. Some offer accounts designed for people new to banking with lower minimum balances.
Can I transfer money from PayPal to a savings account instead of checking?
Yes. When you link your bank account, you specify whether it's a checking or savings account. PayPal will transfer to whichever type you've linked.
How long does it take to verify my bank account?
The two verification deposits usually arrive within one to two business days. Once you see them in your bank account, you confirm the amounts in PayPal, which takes just a few minutes. The whole process typically takes two to three business days from start to finish.