How to transfer funds from PayPal to your bank account
You can move money from PayPal to a linked bank account in two ways: a standard transfer that takes one to three business days, or an when ready transfer that arrives within 30 minutes but costs a small fee. Both require you to have already connected your bank account to PayPal and verified it — a step that takes a few days the first time you do it.
The standard transfer is free and works for most people most of the time. The when ready transfer costs between 1% and 2% of the amount you're moving, depending on your account type, and is useful when you need the money sooner. Either way, you initiate the transfer from PayPal's website or app, and the money lands in the checking or savings account you've linked.
Key Takeaways
- A standard transfer from PayPal to your bank account is free and takes one to three business days to complete.
- An when ready transfer costs 1% to 2% of the amount but arrives within 30 minutes, and is available only if your account is in good standing.
- Before you can transfer money, you must link your bank account to PayPal and wait for PayPal to verify it, which usually takes a few days.
- You initiate transfers through the PayPal website or mobile app under the "Transfer Money" or "Withdraw" section, depending on which device you're using.
- If a transfer fails, PayPal will return the money to your PayPal balance within one to three business days.
Linking and verifying your bank account
Before you can move money out of PayPal, you need to tell PayPal which bank account to send it to. Log into PayPal on a computer or phone, go to your account settings (usually a gear icon or "Account" menu), and look for "Banks and Cards" or "Linked Banks." Click the option to add a new bank account, enter your routing number and account number, and confirm your bank's name.
PayPal will then send two small deposits — usually between $0.01 and $0.99 each — to that account. This takes a few business days. When the deposits arrive in your bank account, you'll see them listed in your transaction history. Go back to PayPal, find the bank account you added, and enter those two amounts to confirm you own the account. Once PayPal sees the correct numbers, the account is verified and you can transfer money.
If you don't see the deposits after five business days, contact your bank to make sure they didn't filter them as spam or suspicious activity. You can also contact PayPal support to ask them to resend the verification deposits.
Standard transfers: free but slower
A standard transfer is the default option and costs nothing. From the PayPal app or website, find the "Transfer Money" button (on the app, it's usually on the home screen; on the website, it's in the "Wallet" or "Money" section). Select "Transfer to Your Bank," choose the bank account you want the money to go to, enter the amount, and confirm.
PayPal will show you the expected arrival date before you complete the transfer — usually one to three business days later. The money goes into your account as a regular deposit, and your bank will treat it like any other incoming transfer. If you transfer on a Friday evening, the money may not arrive until Tuesday or Wednesday because banks don't process transfers over weekends.
Standard transfers work even if your PayPal account has limited access or if you're new to PayPal, as long as your bank account is verified. There's no minimum or maximum amount, though PayPal may limit how much you can transfer in a single day if your account is brand new.
when ready transfers: faster but with a cost
If you need the money within the hour, PayPal offers when ready transfers for a fee of 1% to 2% of the amount you're moving. The exact percentage depends on whether you have a PayPal Cash account, a PayPal Cash Plus account, or a standard PayPal account. You can see the fee before you confirm the transfer.
To use when ready transfer, go to "Transfer Money" and select "when ready Transfer" instead of the standard option. Choose your linked bank account, enter the amount, and review the fee. The money will arrive in your bank account within 30 minutes on business days, or within a few hours on weekends. Some banks process the deposit when ready; others may take a few minutes to show it in your available balance.
when ready transfers are only available if your account is in good standing — meaning you haven't had disputes, chargebacks, or violations of PayPal's terms. If the option doesn't appear, your account may not be may be able to access yet, or you may need to contact PayPal support to restore access.
What happens if the transfer fails
Occasionally a transfer will fail — usually because the bank account information is wrong, the account has been closed, or your bank rejected the transfer for security reasons. PayPal will send you a notification explaining why, and the money will return to your PayPal balance within one to three business days.
If you see an error message when you try to transfer, check that the account number and routing number are correct. You can find both on a blank check from your bank, or by logging into your bank's website. If the information is correct but the transfer still fails, contact your bank to ask whether they've blocked PayPal transfers or flagged your account for suspicious activity.
For when ready transfers that fail, you won't be charged the fee — the money straightforward returns to PayPal. For standard transfers, the same applies: if it fails, you get the full amount back.
Timing and when the money actually arrives
A standard transfer typically takes one to three business days, but the exact timing depends on when you initiate it and when your bank processes incoming transfers. If you transfer money on a Monday morning, it may arrive by Tuesday or Wednesday. If you transfer on a Friday afternoon, it probably won't arrive until Wednesday or Thursday of the following week, because banks don't process transfers on weekends or federal holidays.
when ready transfers arrive much faster — within 30 minutes on business days — but some banks take longer to display the deposit in your available balance even after they've received it. The money is yours as soon as it hits your account, but you may not be able to spend it when ready if your bank is still processing it.
If a transfer doesn't arrive by the date PayPal promised, wait one more business day before contacting support. Delays sometimes happen because of bank backlogs, especially around holidays or during high-volume periods.
Frequently Asked Questions
Can I transfer money to someone else's bank account?
No. PayPal transfers only go to a bank account that's linked to your own PayPal account. If you want to send money to someone else, use PayPal's "Send Money" feature to transfer it to their PayPal account or email address, or use a different service like Venmo or a wire transfer through your bank.
What's the difference between a bank account and a debit card on PayPal?
A linked bank account is your actual checking or savings account at a bank or credit union. A linked debit card is a card issued by your bank that draws from that account. You can transfer money to a bank account but not directly to a debit card. If you've only linked a debit card, you'll need to add your bank account separately to transfer funds.
Why does PayPal need to verify my bank account with those small deposits?
The verification deposits prove you own the account and that the account information is correct. Without this step, someone could link a bank account that isn't theirs and steal money from it. The deposits are tiny so they don't cost you anything, and once verified, you never have to do it again.
Can I transfer money if my PayPal account is new?
Yes, as long as your bank account is verified. New PayPal accounts may have daily transfer limits that are lower than established accounts, but you can still transfer. If you see a message saying you've hit your limit, wait until the next day or contact PayPal support to ask about raising it.
What if I accidentally transfer money to the wrong bank account?
Contact PayPal support when ready. If the transfer hasn't been processed yet, PayPal may be able to cancel it. If it's already gone through, PayPal can't recover it — you'll need to contact the bank that received it and ask them to return the funds, which is a slower process. This is why it's important to double-check the account number before confirming any transfer.