Connect your bank account to PayPal in four steps
To connect your bank account to PayPal, log into your account, go to Wallet, select Link a bank account, and enter your routing number and account number. PayPal will then send two small deposits (usually $0.01 and $0.02) to your bank account within one to two business days. You verify those amounts in PayPal to confirm you own the account. Once verified, you can transfer money between PayPal and your bank, receive direct deposits, and set up automatic transfers.
The entire process takes three to five business days from start to finish, though most of that time is waiting for the verification deposits to arrive. You'll need your bank's routing number and your account number—both appear on the bottom left of a check, or you can find them by logging into your bank's website.
Key Takeaways
- PayPal sends two small test deposits to your bank account to verify you own it; you must confirm the amounts in PayPal to complete the link.
- The verification process takes one to two business days for the deposits to arrive, then you have 30 days to confirm them in PayPal.
- Once linked, you can transfer money from PayPal to your bank account, receive direct deposits, and set up automatic transfers to move money on a schedule.
- Bank transfers from PayPal to your account are free and typically arrive within one to three business days, depending on your bank.
- If verification fails, PayPal will tell you why—usually a mismatch between the name on your PayPal account and the name on your bank account.
What information you need before you start
Gather these details before you open PayPal: your bank's routing number, your account number, and the exact name on your bank account. The routing number identifies your specific bank branch; the account number is your unique account at that bank. Both appear on a check in the bottom left corner, in this order: routing number, then account number, then check number.
If you don't have a check, log into your bank's website or mobile app and look for account details or account information. Most banks display both numbers there. The name on your bank account must match the name on your PayPal account exactly—if your bank account says "James Michael Smith" but your PayPal says "James M. Smith," the verification will fail and you'll have to correct one of them before trying again.
The verification deposit step and how long it takes
After you enter your bank details, PayPal deposits two small amounts—typically $0.01 and $0.02—into your account. These deposits appear in your bank account within one to two business days. Your bank will show them as coming from PayPal or a PayPal subsidiary. Do not spend or ignore them; you need to see these amounts to complete the link.
Once the deposits arrive, log back into PayPal, go to your bank account settings, and enter the two amounts. PayPal will confirm the match and your bank account is now linked. You have 30 days from the date PayPal sends the deposits to confirm them; after 30 days, the link attempt expires and you'll have to start over.
If the deposits don't arrive after three business days, check your bank account's pending transactions or contact your bank to confirm they received them. Some banks hold small deposits for a few extra days. If they never arrive, PayPal will let you know the link failed and why.
Why verification fails and how to fix it
The most common reason verification fails is a mismatch between the name on your PayPal account and the name on your bank account. If your bank account is under "Sarah Johnson" but your PayPal is under "Sarah J. Johnson," the system will reject it. The names must match exactly—same spelling, same middle initials, same order.
The second reason is entering the wrong routing number or account number. Double-check both numbers against your check or your bank's website before you submit. If you enter them wrong, PayPal will tell you the link failed; you can then try again with the correct numbers.
If the name mismatch is the problem, you have two options: change your PayPal name to match your bank account, or contact your bank and ask them to update your account name to match your PayPal. The first option is usually faster. Go to your PayPal account settings, find your legal name, and update it. Then try linking your bank account again.
What you can do once your bank account is linked
Once verification is complete, you can transfer money from your PayPal balance to your bank account. Go to Wallet, select your bank account, and choose Transfer to your bank. Enter the amount and confirm. The money leaves your PayPal account immediately, but it takes one to three business days to appear in your bank account, depending on your bank's processing speed.
You can also set up automatic transfers. In your PayPal settings, go to Transfer funds and choose Set up automatic transfers. You can schedule transfers to happen daily, weekly, or monthly, and PayPal will move money on that schedule. This is useful if you want to move your PayPal earnings to your bank account without having to do it manually each time.
If you receive money through PayPal—from a payment, a refund, or a direct deposit—you can have it land in your linked bank account instead of your PayPal balance. In your account settings, you can set your bank account as your preferred deposit method for incoming payments.
Fees and timing for bank transfers
Transfers from PayPal to your linked bank account are free. PayPal does not charge you to move money out. Your bank may charge a fee for receiving an ACH transfer, but most banks do not charge for incoming transfers—only for outgoing ones. Check your bank's fee schedule if you're unsure.
The timing depends on when you initiate the transfer and your bank's processing schedule. If you transfer on a Friday evening, the money will not leave PayPal until Monday, and it may not arrive at your bank until Wednesday or Thursday. Weekends and bank holidays add time. If you need the money quickly, transfer early in the business day on a weekday.
PayPal shows you an estimated arrival date when you confirm the transfer. That date is usually accurate, but it's an estimate, not a may provide. If the money doesn't arrive by that date, contact your bank first—the delay is usually on their end, not PayPal's.
Unlinking your bank account or updating it
If you want to remove your bank account from PayPal, go to Wallet, find your bank account, and select Remove. The account is unlinked immediately. Any pending transfers will still go through, but you won't be able to initiate new transfers to that account.
To update your bank account information—if you switched banks or got a new account number—unlink the old account and link the new one. You'll have to go through the verification process again with the new account's routing and account numbers. The two verification deposits will arrive within one to two business days.
Frequently Asked Questions
Can I link multiple bank accounts to PayPal?
Yes. You can link as many bank accounts as you want, but you can only set one as your primary account for transfers. When you initiate a transfer, you choose which linked account to send the money to. Each account must go through the verification process separately.
What if I see the verification deposits but they disappear from my bank account?
PayPal withdraws those deposits after you confirm them in PayPal. The $0.01 and $0.02 are removed from your account as part of the verification process. This is normal and expected. You won't lose money overall—you're just confirming you own the account.
Can I link a joint bank account?
Yes, but the name on your PayPal account must match the name on the joint account exactly. If the account is under "John Smith and Jane Smith," your PayPal name must match one of those names precisely. If your PayPal is under a different name, the verification will fail.
How long does it take to transfer money from PayPal to my bank if I'm in a hurry?
The fastest transfers take one business day, but this depends on your bank. Some banks process ACH transfers faster than others. PayPal shows you the estimated arrival date when you confirm the transfer. If you need money same-day, a bank transfer won't work—you'd need to use PayPal's debit card or withdraw cash at a store that offers PayPal cash services.
What happens if I link the wrong bank account by mistake?
If you realize you entered the wrong account number or routing number before verification completes, unlink it and start over with the correct information. If verification already completed, unlink the account and link the correct one. The verification deposits go to the account you specified, so if it's the wrong account, you won't see them in your own bank and verification will fail.