The basic process: three steps
To transfer money from PayPal to your bank account, you log into PayPal, go to your Wallet, select your bank account, and request a transfer. PayPal then sends the money to that account over several business days. You do not need to do anything else — the money arrives automatically once the transfer completes.
The first time you transfer, PayPal will verify that the bank account is actually yours. This verification takes a few extra days because PayPal deposits two small amounts (usually under a dollar each) into your account, and you have to tell PayPal what those amounts were. After that, transfers are faster.
You can transfer as much as you want, as often as you want, as long as your PayPal balance has money in it. There is no fee to transfer to your own bank account.
Key Takeaways
- PayPal transfers to your bank account take three to five business days after you request them, longer if it is your first transfer to that account.
- You need your bank's routing number and your account number to link your bank account to PayPal, which you can find on a check or by calling your bank.
- The first transfer to a new bank account requires you to verify two small deposits PayPal makes, which adds two to three days to the process.
- PayPal charges no fee for transfers to your own bank account, but some banks may charge you a fee on their end.
How to link your bank account to PayPal
Before you can transfer money out, you need to tell PayPal which bank account to send it to. Log into PayPal on a computer or the mobile app, go to Settings (the gear icon), and select Wallet. Click "Link a bank account" and choose "Link your bank account manually."
PayPal will ask for your bank's routing number and your account number. Your routing number is a nine-digit code that identifies your specific bank branch. Your account number is the number of your checking or savings account. Both appear on the bottom left of any check you have, or you can call your bank and ask them to read you these numbers over the phone.
After you enter these numbers, PayPal will tell you that verification is pending. Do not try to transfer money yet — wait for PayPal to send those two small test deposits to your account, which usually takes two to three business days.
Verifying your bank account the first time
Once the test deposits land in your bank account, log back into PayPal and go to Wallet. Find the bank account you just linked and click on it. PayPal will ask you to enter the exact amounts of the two deposits. If you get them right, your account is verified and you can transfer money when ready.
If you do not see the deposits after five business days, check that you entered your routing number and account number correctly. You can also call your bank to confirm the deposits arrived — sometimes they show up in your online banking before they show up in your physical statement. If the deposits never arrive, you may need to link your account again or contact PayPal support.
Requesting a transfer
Once your bank account is verified, transferring money is straightforward. Log into PayPal, go to Wallet, and click "Transfer money." Select "Transfer to your bank" and choose the bank account you want the money to go to. Enter the amount you want to transfer and click "Transfer now."
PayPal will show you a confirmation screen with the amount, the bank account, and the date the money should arrive. The arrival date is usually three to five business days from the day you request the transfer. Business days do not include weekends or federal holidays, so a transfer requested on Friday may not arrive until Wednesday or Thursday.
Once you request the transfer, you cannot cancel it. The money will go to your bank account. If you made a mistake — wrong amount, wrong account — you will need to contact PayPal support, and they may not be able to reverse it.
What happens if your transfer is delayed
Most transfers arrive within the timeframe PayPal gives you. If your money does not show up by the date PayPal promised, wait one more business day before contacting anyone — sometimes banks process transfers a day late without warning.
If the money still has not arrived, log into PayPal and check the status of the transfer. Go to Wallet, find the bank account, and look for a record of the transfer you requested. PayPal will show you whether the transfer is still pending, completed, or failed. If it failed, PayPal will usually tell you why — often because the routing number or account number was wrong.
If the transfer shows as completed but the money is not in your bank account, contact your bank's customer service line. Give them the date you requested the transfer and the amount. Your bank can tell you whether the money arrived on their end and where it went.
Fees and limits
PayPal does not charge you a fee to transfer money to your own bank account. However, some banks charge a fee when they receive an electronic transfer from outside the bank. This is rare, but it happens — call your bank if you are unsure whether they charge for incoming transfers.
PayPal does not set a limit on how much you can transfer at once or how many times you can transfer per month. However, if you transfer very large amounts or transfer very frequently, PayPal may flag your account for review. This is a security measure to prevent fraud. If this happens, PayPal will contact you and may ask you to verify that the transfers are legitimate.
Transferring money faster: other options
If you need the money in your bank account faster than three to five business days, PayPal offers when ready Transfer. This service moves money to your debit card in minutes instead of days. However, when ready Transfer charges a fee — usually between 1% and 2% of the amount you transfer, with a minimum fee of around 25 cents.
To use when ready Transfer, you need to link a debit card to your PayPal account instead of a bank account. The money goes to that debit card, and you can then withdraw it from an ATM or use it to make purchases. If you need the money in your actual bank account (not just on a debit card), you would then need to transfer it from the debit card to your bank, which takes another few days.
For most people, the standard three- to five-day transfer is free and fast enough. when ready Transfer makes sense only if you need cash when ready and are willing to pay the fee.
Frequently Asked Questions
Can I transfer money from PayPal to someone else's bank account?
No. PayPal transfers only go to a bank account that is linked to your own PayPal account. If you want to send money to someone else, you can send it to their PayPal account or their email address using PayPal's "Send money" feature, and they can then transfer it to their own bank account.
What if I link the wrong bank account by mistake?
If you have not verified the account yet (the two test deposits have not arrived), you can delete it and link the correct account instead. If you have already verified it and transferred money to it, contact PayPal support. They may be able to reverse the transfer if you catch it quickly, but they cannot may provide it.
Do I need to transfer all my PayPal balance at once?
No. You can transfer any amount from your PayPal balance, as long as you have that much money in your account. You can transfer $5 one day and $100 the next day. Each transfer is separate and takes three to five business days.
Why is my transfer taking longer than five business days?
If your transfer is delayed, first check PayPal's status page to see if there are any known issues. If PayPal shows the transfer as completed, contact your bank — the delay is on their end. If PayPal shows the transfer as pending or failed, contact PayPal support with the date and amount of the transfer.
Can I transfer money from PayPal if I do not have a bank account yet?
No. PayPal transfers require a linked bank account. If you do not have a bank account, you can use when ready Transfer to send money to a debit card, or you can withdraw cash from PayPal at certain retailers, though this is less common and may have fees.