How to move money from PayPal to your bank account

PayPal holds money in a digital wallet until you move it to a real bank account. The process takes a few days and costs nothing if you choose the standard transfer option. You start by linking your bank account to PayPal, then telling PayPal to send the money — the funds land in your checking or savings account within one to three business days.

The speed and cost depend on which transfer method you pick. Standard transfers are free but slower. when ready transfers cost a small percentage of the amount you send but land the same day. Once you understand the difference, you can choose what works for your situation.

Key Takeaways

  • You must link your bank account to PayPal before you can move money out, which requires your routing number and account number.
  • Standard transfers are free and take one to three business days; when ready transfers cost between 1% and 2% but arrive the same day.
  • You can transfer money from your PayPal balance, from a linked debit card, or from a linked credit card, depending on what you need.
  • PayPal shows you the exact fee before you confirm the transfer, so you always know the cost before your money leaves.

Linking your bank account to PayPal

Before you can move money out, PayPal needs to know which bank account to send it to. Log into your PayPal account on a computer or in the app, then go to Settings (usually a gear icon) and look for "Wallet" or "Bank and Cards." Choose "Link a Bank Account."

PayPal will ask for your bank's name, your account type (checking or savings), your account number, and your routing number. Your account number is on the bottom left of your checks; your routing number is on the bottom left as well, just before the account number. If you do not have checks, your bank's website or customer service can give you both numbers in seconds.

PayPal may verify the account by depositing two small amounts (usually under a dollar each) into your bank account a few days later. When they arrive, you go back to PayPal and confirm the amounts to prove you own the account. This step protects both you and PayPal from fraud.

Choosing between standard and when ready transfers

Standard transfers are free and take one to three business days. PayPal processes them on weekdays only, so if you request a transfer on Friday evening, it will not process until Monday. This is the right choice if you are not in a rush and want to keep all your money.

when ready transfers cost between 1% and 2% of the amount you send, depending on your account history and the payment method you are transferring from. The money lands in your bank account the same day, usually within minutes. This is worth the cost if you need the money today or tomorrow and cannot wait three days.

PayPal shows you the exact fee before you confirm. If you are transferring $100 with a 1.5% when ready transfer fee, PayPal will tell you that you will receive $98.50 and the fee is $1.50. You see the numbers before you commit, so there are no surprises.

How to start a transfer from your PayPal balance

Open PayPal and go to your Wallet. You should see your PayPal balance at the top. Click "Transfer Money" or "Move Money," then choose "Transfer to Your Bank."

PayPal will show you the bank account you linked and ask how much you want to send. Type the amount, then choose your transfer speed: Standard (free, one to three days) or when ready (costs a percentage, same day). Review the fee if you chose when ready, then click "Transfer Now" or "Confirm."

You will see a confirmation number. Write it down or take a screenshot. The money is now on its way. Standard transfers usually land within one business day, though PayPal says up to three. when ready transfers typically arrive within minutes.

Transferring from a linked card instead of your PayPal balance

If you do not have money sitting in PayPal but you have a debit card or credit card linked to your account, you can transfer directly from that card to your bank account. This is useful if you want to move money without keeping a PayPal balance.

Go to Wallet, choose "Transfer to Your Bank," and instead of selecting your PayPal balance, select the card you want to transfer from. The process is the same: choose your amount, pick your speed, and confirm. when ready transfers from a card may cost slightly more than when ready transfers from your PayPal balance, so check the fee before you confirm.

Keep in mind that transferring from a credit card counts as a cash advance on that card, which usually means a higher fee and interest rate. Transferring from a debit card is cheaper. If you have both options, use the debit card.

What to do if your transfer does not arrive

Standard transfers usually land within one business day, though PayPal allows up to three. If three business days have passed and the money is not in your account, log into PayPal and look for the transfer in your transaction history. Click on it to see its status.

If the status says "Completed" but the money is not in your bank account, contact your bank. Sometimes the transfer arrives but takes an extra day to show up in your account, or it may have gone to a different account if you have multiple accounts at the same bank. Your bank can trace it.

If the status says "Pending" or "In Progress," wait another day or two. If it says "Failed" or "Cancelled," PayPal will have returned the money to your PayPal balance. Check your PayPal balance to confirm it is back, then try the transfer again. If it fails a second time, contact PayPal support — there may be a problem with your bank account link.

Fees and limits on transfers

Standard transfers cost nothing. when ready transfers cost between 1% and 2% depending on your account and the source of the funds. PayPal shows the exact fee before you confirm, so you always know the cost.

PayPal does not publish a maximum transfer amount, but your bank may have limits on how much money can land in your account in a single day. If you are moving a large amount, your bank might hold it for a day or two to check for fraud. Call your bank ahead of time if you are transferring more than a few thousand dollars.

Frequently Asked Questions

Can I transfer money to someone else's bank account?

No. PayPal only transfers money to the bank account you linked to your own PayPal account. If you want to send money to someone else, use PayPal's "Send Money" or "Friends and Family" feature instead, which transfers directly from your PayPal balance to their PayPal account or bank account.

What if I do not have a bank account yet?

You cannot transfer money out of PayPal without a linked bank account. If you are new to banking, you will need to open a checking or savings account first. Many banks offer accounts with no minimum balance and no monthly fee. Once your account is open and you have your account number and routing number, you can link it to PayPal.

How long does it take to link a bank account?

Linking takes a few minutes. Verifying the account (when PayPal deposits two small amounts) takes a few days. Once verified, you can transfer money when ready. If you need to move money today and have not verified yet, you can use an when ready transfer from a linked debit or credit card instead.

Is it safe to give PayPal my bank account number?

Yes. PayPal is a major financial company regulated by the U.S. government. They use encryption to protect your information. You should never give your bank account number to anyone else or type it into a website you do not recognize, but PayPal's official website and app are safe.

Can I cancel a transfer after I start it?

If you started an when ready transfer, you cannot cancel it — the money is already on its way. If you started a standard transfer and it has not processed yet, you may be able to cancel it within a few minutes. Go to your transaction history, find the transfer, and look for a "Cancel" button. If the button is not there, the transfer has already processed and you cannot stop it.