The basic steps to transfer PayPal funds to your bank
To move money from PayPal to your bank account, you log into PayPal, go to your Wallet, select your bank account, and request a transfer. PayPal then sends the money to the account you've linked — usually within one to three business days, though the exact timing depends on your bank. The transfer itself is free.
Before you can transfer anything, you need to have linked a bank account to your PayPal account. This means PayPal has verified that the account belongs to you. If you haven't done this yet, that's the first step, and it takes a few minutes to set up.
The money you transfer must come from your PayPal balance — the funds sitting in your PayPal account right now. If you have money coming to you (like a payment someone sent) but it hasn't arrived yet, you'll have to wait for it to land in your PayPal balance before you can move it to your bank.
Key Takeaways
- You must link a bank account to PayPal before you can transfer money, which PayPal verifies by sending small test deposits to that account.
- Transfers from PayPal to a linked bank account are free and usually take one to three business days to show up in your bank.
- You can only transfer money that is already in your PayPal balance, not money that is still pending or on hold.
- PayPal lets you transfer to a savings account, checking account, or money market account — any account in your own name at a U.S. bank.
How to link your bank account to PayPal for the first time
Open PayPal on a computer or in the app and go to Settings (usually a gear icon). Look for "Linked banks and cards" or "Bank accounts" — the exact wording varies depending on whether you're on mobile or desktop. Click "Link a bank account" and enter your routing number and account number. You can find both on a check, or call your bank and ask.
PayPal will then send two small deposits (usually under $1 each) to that account. This takes a few business days. When the deposits arrive, go back to PayPal, find the bank account in your settings, and enter the exact amounts of those two deposits. Once PayPal confirms the amounts match, your account is verified and ready to use for transfers.
If you don't want to wait for the deposits, some banks let you verify when ready through a connection called Plaid. PayPal will offer this option during setup if your bank supports it. If Plaid is available, you can verify and transfer on the same day.
The step-by-step process for transferring money
Log into PayPal and tap or click on your Wallet (or "Summary" on some versions). You'll see your PayPal balance at the top. Below that, look for a button that says "Transfer money" or "Move money." Click it and select "Transfer to your bank."
PayPal will show you a list of bank accounts you've linked. Select the one you want the money to go to. Then enter the amount you want to transfer — you can transfer any amount up to your full balance. Review the details to make sure the account and amount are correct, then confirm the transfer.
That's it. PayPal will show you a confirmation number. The money will leave your PayPal balance right away, but it won't show up in your bank account until one to three business days later. Weekends and bank holidays can add time, so a Friday transfer might not arrive until Tuesday or Wednesday.
Why transfers take time and what "pending" means
When you request a transfer, PayPal sends an instruction to your bank. Your bank then has to process that instruction, verify the account, and move the money into your account. This back-and-forth takes time — usually one to three business days. It's not when ready because banks process transfers in batches, not one at a time.
While the transfer is in progress, PayPal will show it as "pending" in your transaction history. The money has left your PayPal account, but it hasn't arrived at your bank yet. You can't cancel a pending transfer, so make sure you're sending it to the right account before you confirm.
If a transfer doesn't arrive after three business days, contact PayPal support with your confirmation number. They can check the status and tell you whether the money is stuck somewhere or if there's a problem with the account you sent it to.
Limits on how much you can transfer at once
PayPal doesn't set a hard limit on how much you can transfer in a single transaction — you can move your entire balance if you want. However, your bank may have its own limits on how much money can be deposited in a single day. Call your bank if you're transferring a large amount and want to know their daily deposit limit.
If you're a new PayPal user or haven't transferred money before, PayPal may temporarily limit how much you can move at once. This is a security measure. As you use your account normally, these limits usually increase. If you hit a limit and need to transfer more, you can split it into two transfers a day apart.
What to do if your transfer fails or the money goes to the wrong account
If you accidentally sent money to the wrong bank account, contact PayPal support right away with your confirmation number. They can sometimes recall the transfer if it hasn't been processed yet. If the money has already arrived at the wrong account, PayPal can't retrieve it — you'll have to contact that bank directly and ask them to reverse the deposit.
If a transfer fails (PayPal will tell you this in your transaction history), the money goes back to your PayPal balance automatically. Common reasons for failure include a closed bank account, a wrong routing number, or a mismatch between the name on your PayPal account and the name on your bank account. Fix the problem in your PayPal settings and try again.
If you see a transfer marked as failed but the money did arrive at your bank, contact your bank first to confirm the deposit. Then contact PayPal with proof of the deposit so they can update their records. This is rare but does happen occasionally.
Alternatives if you need the money faster
If one to three business days is too slow, PayPal offers when ready Transfer to a debit card. This moves money to a linked debit card in minutes instead of days. There is a fee — usually around 1% of the amount, with a minimum fee of 25 cents. You can only use this if you've linked a debit card (not a savings account) to your PayPal account.
Another option is to use your PayPal balance directly without transferring it. Many stores and websites let you pay with PayPal, so you can spend the money from your PayPal account without moving it to your bank first. This doesn't help if you need cash, but it does let you use the money right away.
If you're waiting for money to arrive in PayPal (like a payment from someone else), you can't speed that up. Payments from other PayPal users usually arrive when ready, but payments from outside sources (like a wire transfer or a check deposit) can take several business days to clear.
Frequently Asked Questions
Can I transfer to someone else's bank account?
No. PayPal only lets you transfer to a bank account in your own name. If you want to send money to someone else, use PayPal's "Send money" feature instead, which lets you send to their email address or phone number. They'll receive it in their PayPal account or bank account depending on how they set up their account.
What if my bank account is closed or I changed banks?
Remove the old account from your PayPal settings and link your new bank account. If you accidentally try to transfer to a closed account, the transfer will fail and the money will return to your PayPal balance within a few business days. You can then transfer to your new account.
Do I have to transfer all my money at once?
No. You can transfer any amount, from a few dollars to your entire balance. You can also make multiple transfers in the same day if you want, though your bank may have daily deposit limits. There's no fee for transfers to a bank account, so you can move money as often as you need to.
Why does PayPal need my routing number and account number?
Your routing number tells PayPal which bank to send the money to, and your account number tells them which account at that bank. Together, they're like an address for your money. PayPal verifies these numbers with small test deposits so they know the account is real and belongs to you.
Can I transfer money that's on hold in my PayPal account?
No. You can only transfer money that's in your available balance. If PayPal is holding money (usually for new accounts or after large transactions), you have to wait for the hold to lift before you can move it. PayPal will tell you when the hold ends in your transaction history.