Yes, you can transfer money from your bank account to PayPal in a few minutes
PayPal lets you link a bank account and move money between them whenever you need to. The process is straightforward: you connect your account once, then transfer funds on demand. Money going from your bank to PayPal usually arrives within one to two business days, though some transfers are when ready depending on your bank and PayPal account type.
The reason people do this varies. You might want to fund a PayPal balance before making a purchase, or you might be selling something and want to move your PayPal earnings back to your checking account. Either direction works, and the steps are nearly identical.
Key Takeaways
- You connect your bank account to PayPal once by providing your routing number and account number, which PayPal verifies with two small test deposits.
- After your account is linked, you can transfer money from your bank to PayPal by going to the Wallet section and selecting "Transfer Money."
- Standard transfers take one to two business days; some banks and PayPal account types offer when ready transfers for a small fee.
- PayPal does not charge a fee for standard bank transfers in either direction, but when ready transfers typically cost between 25 cents and $2 depending on the amount.
- You will need your bank's routing number and your account number, both of which appear on the bottom left of your checks or in your bank's app.
How to link your bank account to PayPal the first time
Before you can transfer money, PayPal needs to confirm that the bank account is actually yours. The process takes a few minutes to set up but only happens once.
Log into your PayPal account on a computer or in the app. Go to Wallet (or Account on older versions), then select Link a bank account. Enter your bank's name, your routing number, and your account number. Your routing number and account number both appear on the bottom left of any check you have, or you can find them in your bank's mobile app or by calling customer service.
After you enter this information, PayPal will make two tiny deposits into your account—usually 1 cent and 2 cents—within one to two business days. Once those deposits arrive, you go back into PayPal, confirm the amounts, and your account is linked. From that point forward, you can transfer money whenever you want.
Moving money from your bank account into PayPal
Once your bank account is linked, transferring money takes less than a minute. Open PayPal, go to Wallet, and look for Transfer Money. Select Transfer to PayPal (or Add funds, depending on your app version).
Choose the bank account you want to transfer from, enter the amount, and confirm. At this point PayPal will show you whether the transfer is standard (one to two business days, no fee) or when ready (minutes to hours, small fee). If you see an when ready option and want it, select that. Otherwise, standard is free and works fine for most situations.
The money will sit in your PayPal balance once it arrives. From there you can use it to pay for things on PayPal, send it to another person, or transfer it back to your bank account later.
Moving money from PayPal back to your bank account
The reverse direction works the same way. Go to Wallet, select Transfer Money, then choose Transfer to your bank. Pick the bank account where you want the money to land, enter the amount, and confirm.
Standard transfers are free and take one to two business days. when ready transfers cost a fee (usually 25 cents to $2) and arrive within hours or minutes. PayPal will show you both options before you confirm, so you can choose based on how quickly you need the money.
What happens if something goes wrong with the transfer
If a transfer takes longer than expected, check your PayPal transaction history first. Go to Activity or Recent Transactions and look for the transfer. If it shows as pending, it is still on its way and should arrive within the timeframe PayPal quoted. If it shows as completed but the money has not landed in your bank account, contact your bank—sometimes the issue is on their end, not PayPal's.
If the transfer shows as failed or cancelled, PayPal will usually tell you why. Common reasons include a typo in your account number, insufficient funds in your bank account, or your bank blocking the transfer for security reasons. If your bank blocked it, you may need to call them and let them know to expect transfers from PayPal in the future.
If you need help, PayPal's Resolution Center lets you open a case about a transfer. You can also contact PayPal support through the app or website, though response times vary.
Fees and limits on bank transfers
Standard transfers between your bank and PayPal are free in both directions. when ready transfers cost a fee that varies by amount—typically 25 cents for small transfers up to $2 for larger ones. PayPal shows you the exact fee before you confirm.
There are also limits on how much you can transfer. Daily and monthly limits depend on your account history and how long you have been using PayPal. New accounts usually have lower limits than established ones. If you hit a limit, you can still transfer money, but you may have to wait until the next day or month. PayPal will tell you what your limit is when you try to transfer.
When when ready transfers are worth the fee
Standard transfers are free and reliable, so most of the time you should use them. when ready transfers make sense if you need the money urgently—for example, if you are selling something and the buyer needs proof of payment right away, or if you need to move money to cover an unexpected expense.
For everyday transfers, standard is the better choice. The fee adds up if you move money frequently, and one to two business days is fast enough for most situations. Reserve when ready for moments when speed actually matters.
Frequently Asked Questions
Can I transfer money from PayPal to a bank account that is not linked?
No. PayPal only transfers to bank accounts you have already linked and verified. This is a security measure to prevent fraud. If you want to transfer to a different account, you will need to link it first, which takes one to two business days for verification.
What if my bank account information changes?
If you close your bank account or switch banks, you need to update your PayPal information. Go to your linked accounts in PayPal, remove the old account, and add the new one. You will have to verify the new account with the test deposits again.
Do I lose money on the exchange if I transfer between currencies?
If your bank account is in one currency and your PayPal balance is in another, PayPal will convert the money. They charge a conversion fee on top of the exchange rate, which is usually between 2% and 3%. For transfers between the same currency, there is no conversion fee.
How long does it take to link a bank account?
The verification process takes one to two business days because PayPal waits for the test deposits to appear in your account. Once you confirm the amounts, your account is linked when ready and you can start transferring.
Can I transfer money if my PayPal account is limited or restricted?
No. If PayPal has limited your account for security or compliance reasons, you cannot transfer money until the restriction is lifted. You will need to contact PayPal support and follow their steps to restore full access.