How to transfer money from PayPal to your bank account
You can move money from PayPal to your bank account in two ways: a standard transfer that takes one to two business days, or an when ready transfer that costs a small fee and completes within 30 minutes. Both require you to have a bank account linked to your PayPal account first. The standard transfer is free; when ready transfers cost between $0.25 and $2.00 depending on the amount you're moving.
The process itself takes less than a minute once your bank account is connected. You'll need your bank's routing number and your account number, which you can find on a check or by logging into your bank's website. PayPal will verify the connection by depositing two small amounts into your account, which you'll then confirm back in PayPal — this verification step usually takes three to five business days.
Key Takeaways
- Standard transfers from PayPal to your bank account are free and take one to two business days to complete.
- when ready transfers cost $0.25 to $2.00 and arrive within 30 minutes, but are only available if you've had your bank account linked for at least 30 days.
- You must link your bank account to PayPal before you can transfer money, which requires your routing number and account number and takes three to five days to verify.
- Money transferred to your bank account comes from your PayPal balance, not directly from a linked card or payment method.
Linking your bank account to PayPal for the first time
Go to your PayPal account settings and select "Wallet" or "Banks and Cards" depending on which version of PayPal you use. Click "Link a Bank Account" and enter your bank's name. PayPal will ask for your routing number and account number — you can find both on a check (the routing number is the first set of numbers on the bottom left, and your account number follows it), or log into your bank's website and look for account details.
After you enter this information, PayPal will tell you that verification is pending. Within three to five business days, PayPal deposits two small amounts (usually between $0.01 and $0.99 each) into your account. Check your bank statement, then go back to PayPal and enter the exact amounts of those two deposits. Once you confirm them, your bank account is verified and ready to use.
If you don't see the deposits after five business days, contact your bank to confirm the account information is correct. Sometimes a typo in the routing number or account number will cause PayPal's deposits to bounce back. You can also contact PayPal support to request they resend the verification deposits.
Standard transfer: free but slower
A standard transfer moves money from your PayPal balance to your linked bank account at no cost. The transfer takes one to two business days, meaning if you initiate it on a Monday morning, the money will arrive in your bank account by Wednesday. Weekends and bank holidays don't count as business days, so a transfer started on Friday afternoon won't arrive until Tuesday or Wednesday.
To start a standard transfer, log into PayPal, go to your Wallet, and select "Transfer Money." Choose "Transfer to Your Bank" and enter the amount you want to move. PayPal will show you the expected arrival date before you confirm. Once you click "Transfer Now," the transaction is locked in — you cannot cancel it after that point, though the money is still yours and will arrive on schedule.
Standard transfers work well if you're not in a hurry and want to avoid fees. They're also the only option if your bank account has been linked for fewer than 30 days, since when ready transfers require a 30-day waiting period.
when ready transfer: faster but with a fee
An when ready transfer moves money to your bank account within 30 minutes instead of one to two days, but PayPal charges a fee. The fee ranges from $0.25 for transfers under $10 to $2.00 for transfers of $10 or more. You can only use when ready transfer if your bank account has been linked to PayPal for at least 30 days and if your bank is on PayPal's list of supported institutions.
To check if your bank supports when ready transfer, go to your Wallet, select "Transfer to Your Bank," and enter the amount. If when ready transfer is available for your bank, you'll see it as an option with the fee displayed. If you don't see it, your bank either isn't supported yet or your account hasn't been linked long enough. PayPal adds new banks to the when ready transfer network regularly, so check back in a few weeks if your bank isn't listed now.
when ready transfer is worth the fee if you need the money urgently — for example, to cover an unexpected expense or to move money before a important date. For routine transfers, the free standard option usually makes more sense.
What happens if the transfer fails
A transfer can fail if your bank account information is incorrect, if your bank rejects the deposit for fraud prevention reasons, or if PayPal flags the transaction as suspicious. If this happens, PayPal will notify you and the money returns to your PayPal balance within one to two business days. You can then try again or contact PayPal support to ask what went wrong.
The most common reason for failure is a mismatch between the account number or routing number you entered in PayPal and what your bank has on file. Double-check both numbers against a recent check or your bank's website. If they match and the transfer still fails, call your bank and ask if they've blocked PayPal transfers for security reasons. Some banks require you to contact them first to authorize transfers from PayPal.
If you initiated an when ready transfer and it fails, PayPal refunds the fee automatically. You won't be charged again if you retry with a standard transfer.
Transferring money you received from others
If someone sent you money through PayPal, that money sits in your PayPal balance until you transfer it out. The process is identical to transferring your own money — go to Wallet, select "Transfer to Your Bank," choose your amount, and select standard or when ready transfer. The money comes from your PayPal balance regardless of where it came from.
One exception: if you received money as a payment for goods or services and PayPal is holding it as a seller protection measure, you may not be able to transfer it when ready. PayPal typically holds new seller funds for 21 days. You can check whether your balance is on hold by looking at your transaction history — held funds will show a "pending" or "on hold" status. Once the hold period ends, the money moves to your available balance and you can transfer it normally.
Timing and what to expect in your bank account
For a standard transfer, PayPal deducts the money from your balance when ready, but your bank account won't show the deposit for one to two business days. During that waiting period, the money is in transit — it's left PayPal but hasn't arrived at your bank yet. You can't cancel it once it's started, so make sure the amount is correct before you confirm.
When the money arrives in your bank account, it will show as a deposit from "PayPal" or "PAYPAL TRANSFER." Your bank may take a few hours to post it, so if you don't see it when ready after the expected arrival date, check again later that day. If it doesn't appear by the end of the next business day, contact your bank to confirm they received it.
For when ready transfers, the money appears in your bank account within 30 minutes in most cases. Some banks post it when ready; others may take up to 30 minutes. The fee is deducted from the amount you transfer, so if you transfer $100 with a $2 fee, your bank account receives $98.
Frequently Asked Questions
Can I transfer money from PayPal to a different bank account than the one I linked?
No. Transfers only go to the bank account you've linked and verified in PayPal. If you want to move money to a different account, you'll need to unlink the current account and link the new one, then wait three to five days for verification before you can transfer.
What if I don't have a bank account yet?
You cannot transfer money from PayPal without a linked bank account. You can keep the money in PayPal and use it to pay for things online, or you can open a checking account at a bank or credit union and link it once it's active. Some online banks open accounts in minutes; traditional banks may take a few days.
Is there a limit to how much I can transfer at once?
PayPal limits standard transfers to $100,000 per transaction, though your bank may have its own limits. when ready transfers have lower limits that vary by bank, usually between $1,000 and $10,000 per transaction. Check your transfer screen to see what limit applies to your account.
Why is my transfer taking longer than expected?
Weekends and bank holidays don't count as business days, so a transfer initiated on Friday may not arrive until Tuesday. If it's been more than two business days for a standard transfer or more than 30 minutes for an when ready transfer, contact PayPal or your bank to check the status.
Do I pay taxes on money I transfer from PayPal to my bank?
Transferring money to your bank account doesn't create a tax event — you only owe taxes on income you received, not on moving money you already earned. If you received the PayPal money as payment for work or sales, you may owe taxes on that income depending on the amount and your location. Keep records of what the money was for.