You can change your linked bank account in PayPal's settings in about five minutes, but the change won't take effect when ready for withdrawals
Log into PayPal on a computer or the mobile app, go to Wallet (or Account on older versions), then select Banks and Cards. From there you can add a new bank account, remove an old one, or set which account receives your money by default. The new account will show as pending for one to two business days while PayPal verifies it with your bank — during this time you cannot withdraw to it, though you can still receive money into your PayPal balance.
If you're changing banks because your old account is closing, or because you want to move your PayPal withdrawals to a different account at the same bank, the process is straightforward. If you're trying to fix a failed withdrawal or a frozen account, the steps are the same, but you may need to contact PayPal support afterward to resolve the underlying problem.
Key Takeaways
- New bank accounts linked to PayPal take one to two business days to verify before you can withdraw money to them.
- You can have multiple bank accounts linked at once and choose which one receives your withdrawals by default.
- Removing an old account does not affect money already in your PayPal balance — it only stops future withdrawals to that account.
- If a withdrawal fails after you change your bank details, contact PayPal support with your bank's name and the last four digits of the account number.
How to add a new bank account to PayPal
On a computer, log into PayPal.com, click your profile icon in the top right, and select Account Settings. Click Wallet on the left menu, then Banks and Cards. Click Link a Bank Account and choose your country. PayPal will ask for your bank's name, account type (checking or savings), routing number, and account number.
On the PayPal mobile app, tap the menu icon (three horizontal lines), scroll to Wallet, tap Banks and Cards, then Link a Bank Account. The form is the same: bank name, account type, routing number, and account number. You can find your routing number on a check, on your bank's website, or by calling your bank's customer service line.
After you submit the form, PayPal displays a message saying your account is pending. This means PayPal is verifying the account with your bank — it usually takes one to two business days, though it can take up to five in rare cases. You will receive an email when verification is complete. Until then, you cannot withdraw money to this account, but you can still receive payments into your PayPal balance.
How to set a default withdrawal account
If you have more than one bank account linked to PayPal, you can choose which one receives your money when you withdraw. On a computer, go to Wallet > Banks and Cards, find the account you want to use, and click the three dots next to it. Select Set as Default. On the mobile app, tap and hold the account you want, then tap Set as Default.
Your default account is the one PayPal uses whenever you request a withdrawal, unless you manually choose a different account at the moment of withdrawal. Changing your default does not affect any withdrawal you have already requested — it only changes future withdrawals.
How to remove an old bank account
Go to Wallet > Banks and Cards, find the account you want to remove, click the three dots (or tap and hold on mobile), and select Remove. PayPal will ask you to confirm. Once removed, you cannot withdraw to that account anymore, but any money already in your PayPal balance stays there — removing a bank account does not empty your PayPal wallet.
You should remove an old account if your bank closed it, if you switched banks, or if you no longer want PayPal to have access to that account. Removing it prevents PayPal from attempting to withdraw to a closed account, which would cause your withdrawal to fail and delay your money.
What happens during the verification period
When you first link a bank account, PayPal sends two small deposits (usually between $0.01 and $0.99 each) to that account. Your bank will show these deposits in your account within one to two business days. PayPal uses these deposits to confirm that the account number and routing number you provided are correct and that you own the account.
You do not need to do anything with these deposits — PayPal will reverse them automatically once verification is complete. Some banks show the reversal as a separate transaction; others combine it into one net deposit. Either way, the small amounts will disappear from your account within a few days of verification finishing.
If verification takes longer than five business days, or if the deposits never arrive, contact PayPal support. This usually means the routing number or account number was entered incorrectly, or your bank is blocking the deposits for security reasons.
Troubleshooting a failed withdrawal after changing your bank details
If you requested a withdrawal to your new account and it failed, the most common reasons are: the account is still pending verification, the account number or routing number was entered incorrectly, your bank rejected the transfer, or your bank account is closed or frozen.
Check your PayPal transaction history first. Go to Activity or History, find the failed withdrawal, and click it to see the reason PayPal gives. If it says the account is pending, wait for verification to finish and request the withdrawal again. If it says the bank rejected it, contact your bank to ask why — common reasons include a mismatch between the account number and the name on the account, or a security block on transfers from PayPal.
If you cannot figure out why the withdrawal failed, contact PayPal support through the app or website. Have your bank's name, the last four digits of the account number, and the date of the failed withdrawal ready. PayPal can see the rejection reason from your bank and may be able to resolve it or suggest next steps.
Changing your bank details if your account is limited or frozen
If PayPal has limited your account or frozen your funds, you can still change your bank details, but the change will not help you withdraw money until PayPal lifts the restriction. Account limitations and freezes are usually triggered by unusual activity, a failed verification, or a dispute. PayPal will send you an email explaining the reason and what you need to do to restore access.
Follow PayPal's instructions to resolve the limitation — this might mean confirming your identity, providing documents, or waiting out a holding period. Once the limitation is lifted, your new bank account (if it has finished verifying) will be ready to receive withdrawals. If you need to withdraw money urgently and your account is frozen, contact PayPal support to ask whether they can expedite the review or allow a withdrawal to a newly verified account.
Frequently Asked Questions
How long does it take for a new bank account to be ready for withdrawals?
One to two business days is standard. PayPal sends two small test deposits to your account and waits for your bank to process them. Once your bank shows the deposits, PayPal reverses them and marks your account as verified. In rare cases this can take up to five business days if your bank processes transfers slowly.
Can I withdraw money to a bank account that is still pending?
No. You must wait for PayPal to finish verifying the account before you can withdraw to it. You can still receive payments into your PayPal balance during this time — the pending status only blocks outgoing transfers to that specific bank account.
What happens to money in my PayPal balance if I remove my bank account?
Nothing. Removing a bank account only stops future withdrawals to that account. Any money in your PayPal balance stays there. You can link a different bank account and withdraw to that one instead, or keep the money in PayPal and use it to send payments or make purchases.
Can I have multiple bank accounts linked to PayPal at the same time?
Yes. You can link as many bank accounts as you want and choose which one receives each withdrawal. This is useful if you have accounts at different banks or different account types (checking and savings) and want to move money between them.
Why did my withdrawal fail after I changed my bank details?
The most common reasons are: the new account is still pending verification, the account number or routing number was entered incorrectly, your bank rejected the transfer for security reasons, or the account is closed. Check your PayPal transaction history for the specific reason, or contact your bank to ask whether they blocked the transfer.