Yes, you can transfer money from PayPal to another bank account
PayPal lets you move money to any U.S. bank account you own — checking, savings, or money market accounts. The transfer goes from your PayPal balance directly to the bank, and the process takes between one and three business days depending on your bank and the time you initiate the transfer.
You do not need to be a PayPal merchant or seller to do this. Any PayPal account holder with a verified bank account can transfer out. The money comes from your PayPal balance, not from a credit card or loan — you can only move funds that are already sitting in your PayPal account.
Key Takeaways
- PayPal transfers to your bank account take one to three business days and cost nothing if you choose the standard transfer speed.
- You must add and verify your bank account in PayPal's settings before you can transfer money out.
- when ready transfers to your debit card are available for a fee, usually around 1.75 percent of the amount.
- The bank receiving the transfer must be a U.S. institution; international transfers require a different process.
- PayPal holds new accounts for 21 days before allowing transfers, and some accounts may have additional holds based on activity patterns.
How to add and verify your bank account in PayPal
Before you can transfer money out, PayPal needs to confirm you own the bank account. Log into your PayPal account, go to Settings (the gear icon), then select Wallet. Click Link a Bank Account and enter your routing number and account number — both appear on the bottom left of your checks, or you can find them in your bank's online portal.
PayPal will make two small deposits to that account within one to two business days, usually between $0.01 and $0.99 each. Once they arrive, go back to PayPal, confirm the amounts, and your account is verified. This is a one-time step; after verification, you can transfer to that account whenever you have a balance.
If you want to transfer to a different bank account later, you go through the same process — add it, wait for the verification deposits, confirm the amounts. You can have multiple bank accounts linked to PayPal, but you can only transfer to accounts you have verified.
Standard transfers versus when ready transfers
PayPal offers two speeds. Standard transfer is free and takes one to three business days. The money moves through the ACH network, which is the same system banks use to move money between each other. You initiate the transfer in the Wallet section, select your bank account, enter the amount, and confirm.
when ready transfer moves the money to a debit card within 30 minutes, but PayPal charges a fee — usually around 1.75 percent of the amount you transfer, with a minimum fee of $0.25. So transferring $100 when ready costs about $1.75. This option is useful if you need the money the same day, but it only works to debit cards you have already added to PayPal, not to savings accounts or money market accounts.
If you choose when ready transfer, the money goes to your debit card's issuing bank, not to the specific account the card is linked to. The bank then deposits it into whichever account the debit card draws from. This usually happens within minutes, but can take up to 30 minutes during high-volume periods.
Timing and holds on new accounts
PayPal places a 21-day hold on new accounts before allowing any transfers out. This is a security measure to prevent fraud. If you just created your PayPal account, you will not be able to transfer money until 21 days have passed, even if you have verified your bank account and have a balance.
After the 21-day hold lifts, standard transfers take one to three business days. The exact timing depends on your bank — some process ACH transfers the same day they receive them, others wait until the next business day. Weekends and bank holidays add extra days. If you initiate a transfer on Friday evening, it may not arrive until Wednesday or Thursday.
PayPal may also place a temporary hold on your account if it detects unusual activity — a sudden large transfer, transfers from a newly added bank account, or transfers that do not match your normal pattern. These holds are usually lifted within 24 hours, but they can delay a transfer by a day or more.
What happens if the transfer fails
A transfer can fail if the bank account information is incorrect, the account has been closed, or the account is not in your name. PayPal will notify you by email if a transfer fails and will return the money to your PayPal balance within one to three business days.
If you see a failed transfer, check that the routing number and account number are correct. The routing number is specific to your bank's location, not your branch — if you entered the wrong routing number, the transfer will bounce back. You can verify both numbers by logging into your bank's website or calling the bank directly.
Once the money returns to PayPal, you can try again with the correct information. If the same account keeps rejecting transfers, contact your bank to confirm the account is active and can receive ACH deposits. Some accounts are set up to reject incoming transfers for security reasons.
Transferring to accounts in someone else's name
PayPal requires that the bank account you transfer to be in your own name. You cannot transfer PayPal money to a joint account, a spouse's account, or anyone else's account, even if you have permission. The account holder's name must match the name on your PayPal account.
If you need to send money to someone else, you have other options. You can use PayPal's send money feature to transfer funds to another PayPal user, or you can withdraw the money to your own account and then send it via your bank's bill pay or wire transfer service. Both of those routes let you send to any account, but they are separate transactions from a PayPal-to-bank transfer.
International transfers and currency conversion
Standard PayPal transfers only work to U.S. bank accounts. If you need to move money to a bank account outside the United States, you will need to use PayPal's international transfer service, which involves different fees and longer timelines.
If your PayPal balance is in a currency other than U.S. dollars, PayPal will convert it to dollars before transferring to a U.S. bank account. The conversion rate PayPal uses is typically close to the market rate but includes a small markup — usually 2 to 3 percent. You can see the exact conversion rate and fee before you confirm the transfer.
Frequently Asked Questions
How long does a PayPal transfer to my bank account actually take?
Standard transfers take one to three business days from the time you initiate them. The exact timing depends on when you submit the transfer and how quickly your bank processes ACH deposits. If you transfer on a Friday afternoon, the money may not arrive until Wednesday. when ready transfers to a debit card take up to 30 minutes and cost a fee.
Can I transfer money from PayPal to a savings account?
Yes, you can transfer to any type of bank account — checking, savings, or money market — as long as it is in your name and accepts ACH deposits. Most savings accounts do accept them, but some banks limit the number of transfers per month. Check with your bank if you plan to transfer frequently.
What if I do not have a bank account to transfer to?
You can request a PayPal Cash Card, which is a debit card linked directly to your PayPal balance. You can use it to withdraw cash from ATMs or spend the money at stores. This is not a transfer to a bank account, but it lets you access your PayPal balance without one.
Why is my transfer taking longer than three days?
Delays usually happen because of bank processing times, weekend or holiday delays, or a temporary hold PayPal placed on your account. Check your email for notifications from PayPal about holds or failed transfers. If the transfer has been pending for more than five business days, contact PayPal support with your transaction ID.
Can I transfer money back from my bank account to PayPal?
Yes, you can add money to your PayPal balance from your linked bank account. Go to Wallet, select Transfer Money, then choose Add Money to Your Balance. This is a standard ACH transfer and takes one to three business days. PayPal does not charge a fee for this direction.