Connect your savings account in three steps
PayPal lets you link a savings account so money can move between your PayPal balance and your bank. Go to your PayPal account settings, select Wallet, then Link a bank account. PayPal will ask for your bank's routing number and your account number—both appear on a check or in your bank's app. Once you enter them, PayPal deposits two small test amounts (usually under $1 each) into your savings account within one to two business days. You then confirm those amounts in PayPal to verify you own the account. After confirmation, the account is active and you can transfer money to and from it.
The whole process takes three to five business days from start to finish. You do not need to be a PayPal customer for very long—you can link an account as soon as your PayPal account is created. PayPal will not charge you to link the account or to move money between your savings account and PayPal, though your bank may charge its own transfer fees depending on your account type.
Key Takeaways
- PayPal verifies your savings account by depositing two small test amounts and asking you to confirm them, which takes one to two business days.
- You need your bank's routing number and your account number, both of which you can find on a check or in your bank's mobile app.
- Once linked, you can transfer money from your savings account to PayPal to pay for purchases, or from PayPal back to your savings account to withdraw funds.
- PayPal does not charge a fee to link or transfer between accounts, but your bank may charge a fee for certain types of transfers depending on your account agreement.
Where to find your routing and account numbers
Your bank's routing number is a nine-digit code that identifies your specific bank branch. Your account number is unique to your savings account. Both appear on the bottom left of any check you have from that account—the routing number comes first, then your account number. If you do not have checks, log into your bank's website or app and look for account details, account information, or settings. Most banks display both numbers there. You can also call your bank's customer service line and ask them to read the numbers to you over the phone.
Make sure you are entering the numbers for your savings account, not a checking account or money market account. If you link the wrong account type, PayPal will reject the transfer when you try to move money. If you are unsure which account is your savings account, check your bank statement or ask your bank which account number belongs to your savings product.
What happens after you confirm the test deposits
Once PayPal deposits the two test amounts into your savings account, you have up to 30 days to confirm them in PayPal. Log into your PayPal account, go to Wallet, find the account you just linked, and select Confirm. PayPal will ask you to enter the exact amounts of the two deposits. Type them in and submit. PayPal verifies the amounts match what they sent, and your account is then confirmed and ready to use.
If you do not confirm within 30 days, the link expires and you have to start over. If you cannot find the test deposits in your bank account after two business days, check that you entered the routing and account numbers correctly. If the numbers were wrong, PayPal will not be able to reach your account. Delete the link from PayPal and try again with the correct numbers.
Moving money between your savings account and PayPal
Once your savings account is linked and confirmed, you can transfer money in either direction. To move money from your savings account into PayPal, go to Wallet, select your bank account, and choose Transfer to PayPal balance. Enter the amount and confirm. The money usually arrives in your PayPal balance within one to three business days, depending on your bank.
To move money from PayPal back to your savings account, go to Wallet, select your bank account, and choose Transfer to bank. Enter the amount and confirm. This transfer also takes one to three business days. You can transfer as much as you want, but PayPal may limit how many transfers you can make in a single day—usually around 25 transfers per day, though this can vary.
Fees and limits on linked accounts
PayPal does not charge you to link a savings account or to transfer money between your PayPal balance and your bank. However, your bank may charge fees for certain types of transfers. Some savings accounts limit how many transfers you can make per month—federal rules used to cap this at six, though that rule changed in 2020 and varies by bank now. Check your bank's account agreement or call them to learn about your savings account has transfer limits.
PayPal also does not charge you to receive money from other PayPal users into your linked savings account, but if you use PayPal to receive payments for goods or services, PayPal takes a transaction fee (usually 2.2% plus $0.30 per transaction for standard transfers). That fee comes out of the money you receive, not from your linked account directly.
Unlinking or changing your savings account
If you want to remove your savings account from PayPal, go to Wallet, select the account, and choose Remove. PayPal will ask you to confirm. Once removed, you cannot transfer money to or from that account through PayPal anymore. You can link a different savings account at any time by repeating the original process.
If your savings account is closed or you switch banks, you should remove the old account from PayPal and link your new one. If you try to transfer money to a closed account, PayPal will reject the transfer and the money will stay in your PayPal balance. You can then transfer it to your new account once you have linked it.
What to do if a transfer fails or gets stuck
If a transfer from your savings account to PayPal does not arrive after three business days, log into PayPal and check the transaction history in your Wallet section. Look for the transfer and see if PayPal shows a status—it may say pending, failed, or cancelled. If it failed, PayPal usually shows a reason, such as insufficient funds or an incorrect account number. If the reason is insufficient funds, make sure your savings account has enough money and try again. If the reason is an account error, check that your routing and account numbers are correct.
If a transfer from PayPal to your savings account fails, the money returns to your PayPal balance automatically within one to three business days. You can then try the transfer again or contact PayPal's support team through the Resolution Center in your account. Have your bank account details and the transaction date ready when you reach out.
Frequently Asked Questions
Can I link a savings account that is not in my name?
No. PayPal requires that the savings account be registered to the same person whose name is on the PayPal account. If you try to link an account in someone else's name, PayPal will reject it during verification. The test deposits will fail because the account holder's name will not match.
What if I do not see the test deposits in my savings account?
Wait one to two business days after you enter your account information in PayPal. Test deposits sometimes take longer if your bank processes them slowly. If two business days have passed and you still do not see them, check that you entered your routing and account numbers correctly. If the numbers were wrong, delete the link and try again with the correct information.
Can I link multiple savings accounts to one PayPal account?
Yes. You can link more than one savings account to the same PayPal account. Each account must go through the verification process with test deposits. When you transfer money, PayPal lets you choose which linked account to transfer from or to.
Does linking a savings account affect my credit score?
No. Linking a bank account to PayPal is not a credit inquiry and does not appear on your credit report. PayPal only verifies that you own the account by depositing small amounts and asking you to confirm them.
What happens if my bank rejects the test deposits?
If your bank rejects the deposits, PayPal will show an error message in your account. This usually means your routing or account number was entered incorrectly, or your account is closed or frozen. Contact your bank to confirm the account is active and that the numbers are correct, then delete the link and try again.