The fastest way to transfer money from PayPal to your bank account
You can move money from PayPal to your bank account in one of two ways: a standard transfer that takes one to two business days, or an when ready transfer that arrives within 30 minutes. Both go directly to the bank account you've already linked to your PayPal profile. The standard transfer is free; when ready transfers cost a small fee (usually around 1% of the amount, with a minimum fee of 25 cents).
Before you can transfer anything, PayPal needs to know your bank details. If you've never linked a bank account to PayPal before, you'll need to do that first — it takes a few minutes and requires your routing number and account number, which you can find on a check or by logging into your bank's website.
Key Takeaways
- Standard transfers from PayPal to your bank account are free and take one to two business days to arrive.
- when ready transfers cost a small percentage fee but arrive within 30 minutes, and you can use them up to a certain limit per day.
- You must link your bank account to PayPal before you can transfer money, which requires your routing number and account number.
- PayPal holds some transfers for a few days if it's your first time transferring to a new bank account, as a security measure.
- If your transfer doesn't arrive after the expected time, check your PayPal transaction history and contact your bank to confirm they received it.
How to link your bank account to PayPal for the first time
Log into your PayPal account on a computer or through the PayPal app. Go to your account settings — on a computer, this is usually a gear icon in the top right; on the app, it's the menu icon at the bottom. Look for "Wallet" or "Bank Accounts" (the exact name varies depending on your account type).
Click "Link a Bank Account" or "Add Bank Account." PayPal will ask for your bank's name, your account type (checking or savings), your routing number, and your account number. Your routing number is a nine-digit code that identifies your specific bank; your account number is unique to you. Both appear on the bottom left of any check you have, or you can find them by logging into your bank's website or calling your bank's customer service line.
After you enter this information, PayPal will make two small test deposits to your account — usually less than a dollar each. These arrive within a few days. Once they arrive, PayPal will ask you to confirm the amounts. This confirms that you own the account and that the information is correct. Only after you confirm these amounts can you transfer money out.
Steps to transfer money using the standard free method
Log into PayPal and go to your Wallet. You'll see your PayPal balance at the top. Click "Transfer Money" or "Move Money" (the exact wording depends on your account type). Select "Transfer to Your Bank."
PayPal will show you the bank account you've linked. If you've linked more than one, choose the account where you want the money to go. Enter the amount you want to transfer. PayPal will show you the expected arrival date — usually one to two business days. Click "Transfer Now" or "Continue," then confirm.
The money leaves your PayPal account right away, but it won't show up in your bank account until the arrival date. If you need the money sooner, you can use an when ready transfer instead, though it will cost you a fee.
How when ready transfers work and when to use them
An when ready transfer moves money from PayPal to your bank account within 30 minutes instead of one to two days. The trade-off is a fee — usually around 1% of the amount you're transferring, with a minimum fee of 25 cents. So if you transfer $100, you'll pay roughly $1; if you transfer $50, you'll pay 25 cents.
To use when ready transfer, follow the same steps as a standard transfer, but when you see the option for transfer speed, select "when ready Transfer" instead of the standard option. PayPal will show you the fee before you confirm, so you'll know exactly what it costs. The money will arrive in your bank account within 30 minutes on business days, or by the next business day if you transfer on a weekend or holiday.
PayPal limits how much you can when ready transfer per day — this limit varies by account but is usually several hundred dollars. If you try to transfer more than your daily limit, PayPal will tell you and offer the standard free transfer as an option instead.
Why PayPal sometimes holds your transfer
The first time you transfer money to a new bank account, PayPal may hold the transfer for a few days before sending it. This is a security measure to make sure you're not transferring money to an account you don't own. You'll see a message in your PayPal account telling you the transfer is on hold and when it will be released.
This hold is temporary and automatic — you don't need to do anything. Once the hold period ends, the money will go to your bank account. After your first successful transfer to that account, future transfers will go through without a hold.
If PayPal suspects unusual activity — like a sudden large transfer or a transfer from a newly created account — it may hold the transfer longer or ask you to verify your identity. If this happens, PayPal will contact you with instructions.
What to do if your transfer doesn't arrive on time
First, check your PayPal transaction history to confirm the transfer actually went through. Log into PayPal, go to your activity or transaction history, and look for the transfer. You should see the date it was sent and the expected arrival date. If the transfer shows as "pending" or "in progress," wait until the expected arrival date before taking action.
If the expected arrival date has passed and the money still isn't in your bank account, log into your bank's website or app and check your recent deposits. Sometimes a transfer shows as complete in PayPal but takes an extra day or two to appear in your bank's system. If you don't see it there after three business days, contact your bank's customer service and give them the transfer date and amount. They can search their records to see if PayPal sent it.
If your bank confirms they never received the money, go back to PayPal and contact their customer service through the Resolution Center. You'll need the transaction ID from your PayPal history. PayPal can investigate what happened and resend the transfer if there was an error on their end.
Fees and limits to know about
Standard transfers are always free. when ready transfers cost a percentage fee that varies slightly depending on your account type and location, but it's usually around 1% with a minimum of 25 cents and a maximum of a few dollars per transfer.
There are no limits on how much you can transfer in a single standard transfer, but PayPal does limit how much you can when ready transfer per day — typically a few hundred dollars, though this can be higher if your account has been active for a long time or has a good history. If you need to transfer more than your daily when ready limit, you can do multiple when ready transfers on different days, or use the free standard transfer.
Some banks may charge their own fees for receiving transfers from PayPal, though most do not. If you're unsure, contact your bank directly.
Frequently Asked Questions
Can I transfer money to someone else's bank account using PayPal?
No, PayPal only lets you transfer money to a bank account that's linked to your own PayPal profile. To send money to someone else, you'd use PayPal's "Send Money" feature instead, which lets you transfer directly to their PayPal account or, in some cases, to their bank account if they're set up to receive it that way.
What if I don't have a bank account linked yet?
You'll need to link one before you can transfer. Go to your PayPal Wallet, select "Link a Bank Account," and enter your routing number and account number. PayPal will make two small test deposits; once you confirm those amounts, you're ready to transfer.
Can I cancel a transfer after I've started it?
If the transfer is still pending (hasn't been sent yet), you may be able to cancel it through your PayPal transaction history. Once it shows as "sent" or "in progress," you can't cancel it through PayPal — you'll need to contact your bank to see if they can reverse it, though this isn't always possible.
Why is my transfer taking longer than expected?
Transfers can be delayed if it's your first time sending to that bank account (PayPal holds it for security), if you transferred on a weekend or holiday, or if your bank is processing it slowly. Check your PayPal history for the expected date, then give it three business days total before contacting your bank.
Is it safe to give PayPal my bank account information?
Yes. PayPal is a major payment company that handles millions of transfers daily. They use encryption to protect your information, and you can see all your linked accounts and transactions in your PayPal settings at any time. If you're uncomfortable, you can unlink the account after you've transferred your money.