The basic steps to transfer PayPal money to your bank
To move money from PayPal to your bank account, log into PayPal on a computer or the mobile app, go to your Wallet, select your bank account, and choose how much to transfer. PayPal will then send that money to the bank account you have linked. The transfer itself takes one to three business days, depending on your bank and the time you initiate it.
You need a bank account already linked to your PayPal account before you can transfer. If you have not added one yet, you will need your bank's routing number, your account number, and your account type (checking or savings). PayPal verifies new bank accounts by depositing two small amounts—usually under a dollar—which you then confirm in your PayPal settings. This verification step can take a few days.
The transfer is free. PayPal does not charge you to move money out to a linked bank account. However, your bank may charge a fee if you exceed a certain number of transfers per month, or they may have their own rules about incoming transfers—check your bank's terms to be sure.
Key Takeaways
- PayPal transfers to a linked bank account are free and take one to three business days to arrive.
- You must link and verify your bank account in PayPal settings before you can transfer money out.
- Transfers initiated on weekends or holidays will not begin processing until the next business day.
- Your bank, not PayPal, may charge a fee if you make more transfers than your account allows per month.
- If a transfer fails, PayPal will return the money to your PayPal balance within one business day.
How to link a bank account to PayPal for the first time
Open PayPal on a computer or the app and go to Settings (the gear icon). Select Wallet or Linked Accounts, then Add a Bank Account. Enter your bank's name, your account type, your account number, and your routing number. PayPal will ask you to confirm your name and address as they appear on your bank records.
After you submit this information, PayPal deposits two small amounts into your account—usually between $0.01 and $0.99 each. This takes two to three business days. Once the deposits appear in your bank statement, return to PayPal, go to the bank account settings, and enter the two amounts. PayPal will then mark the account as verified, and you can transfer money to it.
If you enter the amounts incorrectly, PayPal will let you try again. You have a limited number of attempts before PayPal locks the verification process and you have to contact support to restart it. Write down the amounts as soon as they appear in your bank statement to avoid mistakes.
Timing: when the money actually arrives
A standard transfer from PayPal to your bank account takes one to three business days. Business days are Monday through Friday, excluding federal holidays. If you initiate a transfer on a Friday afternoon, it will not begin processing until Monday, and the money may not land in your account until Wednesday or Thursday.
The exact timing depends on your bank's processing speed. Some banks credit transfers within one business day; others take the full three. You can check your transfer status in PayPal by going to Wallet, then Activity, and looking for the transfer you sent. PayPal will show you whether it is pending, in progress, or completed.
If a transfer does not arrive within three business days, contact PayPal support with your transfer confirmation number. PayPal will investigate whether the money is stuck in your bank's system or if there was an error on PayPal's end. If PayPal finds an error, they will return the money to your PayPal balance and you can try again.
What happens if a transfer fails or bounces back
A transfer can fail for several reasons: the bank account information is incorrect, the account has been closed, the account is frozen, or your bank rejected the incoming transfer for security reasons. When a transfer fails, PayPal will return the money to your PayPal balance automatically, usually within one business day. You will receive a notification explaining why the transfer failed.
If the failure was due to incorrect account information, log into PayPal, update your bank account details, and try the transfer again. If your bank rejected the transfer, contact your bank to ask why—they may have flagged it as suspicious activity, or there may be a hold on your account. Once your bank clears the issue, you can initiate a new transfer from PayPal.
If the same transfer keeps failing and you cannot figure out why, contact PayPal support with your transfer confirmation number and the reason PayPal gave for the failure. PayPal can sometimes work with your bank to resolve the issue, or they can advise you on whether you need to update your account information or try a different bank account.
Limits on how much and how often you can transfer
PayPal does not publish a single transfer limit that applies to everyone. Your limit depends on your account history, how long you have been a PayPal user, and whether you have had disputes or chargebacks in the past. New accounts typically have lower limits than established ones. If you try to transfer more than your limit allows, PayPal will reject the transfer and tell you the maximum amount you can send.
You can transfer as often as you want, but your bank may have limits on the number of transfers you can make per month. Some checking accounts allow unlimited transfers; others cap you at three, six, or ten per month. If you exceed your bank's limit, your bank may charge a fee per extra transfer, or they may refuse the transfer altogether. Check your bank's account terms or call their customer service line to find out your limit.
If you need to move a large amount of money and your PayPal limit is too low, you can request a limit increase by contacting PayPal support. PayPal will review your account and may raise your limit if your history looks clean. This process can take a few days.
Fees and costs you should know about
PayPal charges no fee to transfer money from your PayPal balance to a linked bank account. This is different from other PayPal services—for example, PayPal charges a fee if you use a credit card to add money to PayPal, or if you send money internationally. But a domestic transfer to your own bank account is always free.
Your bank may charge a fee if you make more transfers than your account allows. Federal regulations used to limit savings accounts to six transfers per month, but that rule was suspended in 2020. However, many banks still enforce their own limits and charge $5 to $10 per transfer over the limit. Checking accounts typically have no transfer limits, but confirm this with your bank before you set up frequent transfers.
Some banks also charge a fee for receiving transfers from third-party services, though this is rare. If your bank does charge such a fee, they will deduct it from the transfer amount when it arrives. You can ask your bank whether they charge for incoming transfers from PayPal or other digital payment services.
Alternatives if you need the money faster
If you cannot wait one to three business days, PayPal offers Instant Transfer to a debit card linked to your PayPal account. Instant Transfer sends money to your debit card in minutes, but PayPal charges a fee—usually 1.5% of the amount you transfer, with a minimum of $0.25 and a maximum of $15 per transfer. You can only use Instant Transfer if you have a debit card linked to PayPal, not a bank account.
Another option is to withdraw cash from an ATM using a PayPal Cash or PayPal Cash Plus account. These accounts come with a debit card, and you can use it to withdraw money at any ATM that accepts Mastercard. There is no fee for ATM withdrawals, but you may be limited to a certain number of free withdrawals per month depending on your account type.
If you need to move money to a different person's bank account, you cannot do that directly from PayPal. You would have to transfer the money to your own bank account first, then send it from there using your bank's bill pay or transfer service, or use a peer-to-peer app like Venmo or Square Cash.
Frequently Asked Questions
Can I transfer money from PayPal to someone else's bank account?
No. PayPal only allows you to transfer money to a bank account that is registered in your own name. If you need to send money to someone else, transfer it to your own bank account first, then use your bank's bill pay service or a peer-to-peer app to send it to them.
What if I linked the wrong bank account to PayPal?
Go to your PayPal settings, find the bank account in your Wallet, and delete it. Then add the correct bank account and wait for PayPal to verify it with the two small deposits. Once verified, you can transfer to the correct account. Any transfers sent to the wrong account before you deleted it will not be recoverable through PayPal.
Do I have to transfer all my PayPal money at once, or can I transfer part of it?
You can transfer any amount up to your available balance and your PayPal transfer limit. You do not have to empty your PayPal account. Many people keep some money in PayPal for future purchases and transfer the rest to their bank account.
Why is my transfer still pending after three business days?
Contact PayPal support with your transfer confirmation number. Transfers should complete within three business days; if yours has not, there may be a processing error on PayPal's end or a hold at your bank. PayPal can investigate and either complete the transfer or return the money to your PayPal balance.
Can I cancel a transfer after I have sent it?
If the transfer is still pending, you may be able to cancel it through your PayPal activity. Once the transfer has started processing or has been completed, you cannot cancel it. If the money has already arrived in your bank account, you would have to transfer it back to PayPal manually.