How to add your savings account to PayPal
To link a savings account to PayPal, you log into your PayPal account, go to Wallet, select Link a bank account, and enter your bank's routing number, account number, and account type. PayPal will then send two small deposits (usually between $0.01 and $0.99) to your savings account within one to two business days. You return to PayPal, confirm the exact amounts of those deposits, and your account is linked.
Once linked, your savings account becomes a funding source for sending money, paying bills, or withdrawing PayPal balance to that account. You can link multiple savings accounts if you have them at different banks, and you can remove a linked account at any time without penalty.
Key Takeaways
- PayPal verifies your savings account by depositing two small amounts and asking you to confirm them, a process that takes one to two business days.
- You need your bank's routing number and your account number to start the linking process, both of which appear on a check or in your online banking portal.
- Once linked, your savings account can be used to fund PayPal transfers, bill payments, or to receive withdrawals from your PayPal balance.
- PayPal does not charge a fee to link a savings account, but your bank may charge a fee if it treats the verification deposits as transactions.
What information you need before you start
Gather these details before opening PayPal: your bank's routing number (a nine-digit code that identifies your bank) and your account number (usually 10 to 12 digits). Both appear on the bottom left of any check you have from that account. If you do not have checks, log into your bank's website or app and look for account details, account information, or account summary—most banks display both numbers there.
You will also need to know whether the account is a checking account or savings account, because PayPal asks you to specify. Have your PayPal login ready as well. If you do not have a PayPal account yet, you can create one for free using an email address and a password before you link the bank account.
Step-by-step: linking your savings account
Step 1: Log into PayPal and open Wallet. On the PayPal website or app, click or tap Wallet in the top menu. On mobile, this may appear as a menu icon (three horizontal lines) first.
Step 2: Select "Link a bank account." Look for a button or link that says Link a bank account, Add bank account, or Connect bank. The exact wording varies slightly by device and app version.
Step 3: Enter your bank details. PayPal will ask for your routing number, account number, and account type (checking or savings). Type these carefully—a single wrong digit will cause the verification to fail. If you are unsure of either number, close this screen, check your bank details, and come back.
Step 4: Wait for the verification deposits. PayPal sends two small deposits to your savings account, usually within one to two business days. These amounts are random and typically between $0.01 and $0.99. Check your bank account online or by app to see the deposits and note the exact amounts.
Step 5: Confirm the deposit amounts in PayPal. Return to PayPal, go back to Wallet, and look for a prompt to confirm the deposits. Enter the two amounts you saw in your bank account. If the amounts match, PayPal will confirm the link is complete.
What happens if verification fails
If you enter the wrong routing or account number, PayPal will not be able to send the verification deposits, and the linking process will stall. PayPal will show an error message. Go back to your bank, double-check both numbers, and try again with the correct information.
If you confirm the wrong deposit amounts in PayPal, the system will reject them and ask you to try again. Look at your bank account one more time and enter the exact amounts. If you cannot find the deposits after three or four business days, contact your bank to confirm the account is active and accepting transfers. Some banks block incoming transfers from payment services until you authorize them.
If you have tried multiple times and the deposits still do not arrive, you can ask PayPal to use an alternative verification method. Some accounts can be verified by uploading a bank statement or government ID instead. Contact PayPal support through the app or website to request this option.
Using your linked savings account
Once your savings account is linked and verified, it appears in your Wallet as an available funding source. When you send money to another PayPal user, pay a bill, or make a purchase, you can choose to fund the transaction from your linked savings account instead of from a PayPal balance or credit card.
You can also withdraw money from your PayPal balance directly to your linked savings account. Go to Wallet, select your savings account, and choose Transfer to bank. The money usually arrives within one to three business days, depending on your bank. PayPal does not charge a fee for this transfer, but some banks may charge a small fee for receiving an ACH deposit.
If you have multiple savings accounts at different banks, you can link all of them to the same PayPal account. You choose which one to use each time you make a transaction. You can also remove a linked account at any time by going to Wallet, selecting the account, and choosing Remove. Removing an account does not affect any past transactions.
Security and fraud protection
PayPal uses encryption to protect your routing and account numbers—they are not stored in plain text on PayPal's servers. When you link your savings account, you are not giving PayPal direct access to withdraw money without your permission. Every transaction must be authorized by you, either by clicking a button in the app or confirming a payment.
If someone gains access to your PayPal account, they can use your linked savings account to fund transfers or payments. Protect your PayPal password and enable two-factor authentication (a security feature that requires a code from your phone or email when you log in from a new device). You can turn this on in PayPal's security settings.
If you notice an unauthorized transaction, report it to PayPal immediately through the Resolution Center. PayPal's buyer protection does not always cover bank transfers, so the faster you report fraud, the better your chances of recovery. Your bank may also have fraud protection for ACH transfers—contact them to ask what steps to take if your account is compromised.
Fees and costs
PayPal does not charge you a fee to link a savings account or to transfer money from your PayPal balance to your linked account. However, your bank may charge a fee if it treats the two verification deposits as transactions. Most banks do not, but some charge a small fee (usually $0.25 to $1.00) for each incoming ACH transfer. Check your bank's fee schedule or contact them before you link.
When you use your linked savings account to fund a PayPal payment or transfer, PayPal does not add a fee. However, if you are sending money internationally or to a business account, PayPal may charge a transaction fee—this is the same whether you fund it from your savings account, a credit card, or your PayPal balance. The fee will be shown before you confirm the transaction.
Frequently Asked Questions
How long does it take to link a savings account to PayPal?
The linking process takes one to two business days for the verification deposits to arrive at your bank, plus a few minutes for you to confirm them in PayPal. In total, most accounts are fully linked within 24 to 48 hours. If your bank is slow to process deposits, it may take up to five business days.
Can I link a savings account from a different bank than my checking account?
Yes. You can link savings accounts from different banks to the same PayPal account. Each one must go through the verification process separately, but you can have multiple accounts linked at once and choose which one to use for each transaction.
What if I do not have checks or cannot find my routing number?
Log into your bank's website or mobile app and look for account details, account information, or account summary. Both your routing number and account number are usually displayed there. If you cannot find them online, call your bank's customer service number (on the back of your debit card) and ask for both numbers.
Can I unlink my savings account from PayPal?
Yes. Go to your Wallet, select the linked account, and choose Remove. Unlinking does not affect past transactions or your PayPal balance. You can link it again later if you change your mind.
Is it safe to link my savings account to PayPal?
Linking is generally safe if you use a strong password and enable two-factor authentication on your PayPal account. PayPal encrypts your bank details and does not charge transactions without your permission. However, if someone gains access to your PayPal account, they could use your linked account to send money. Report any unauthorized activity to PayPal immediately.