The fastest way to move money from PayPal to your bank

To transfer money from PayPal to your bank account, log into PayPal, go to your Wallet, select your bank account, and click "Transfer Money." Choose the amount, confirm the receiving bank account, and submit. The money will arrive in your bank account in one to three business days for most transfers, though some banks take longer.

You need a bank account linked to your PayPal account before you can transfer. If you haven't added one yet, go to Settings, select Linked Banks and Cards, and add your account using your routing number and account number. PayPal will verify the account by depositing two small amounts (usually under $1 each) into your bank, which you'll confirm back in PayPal within a few days.

Key Takeaways

  • Standard transfers take one to three business days and cost nothing; instant transfers are available for a small fee if you need the money the same day.
  • You must link your bank account to PayPal first, which requires your routing number and account number and takes a few days to verify.
  • The amount you can transfer depends on your PayPal account history and activity level; new accounts have lower limits than established ones.
  • If a transfer fails, PayPal will return the money to your PayPal balance within one to two business days, and you can try again with a different bank account or contact PayPal support.

Standard transfer versus instant transfer

PayPal offers two ways to move money to your bank. A standard transfer is free and takes one to three business days. An instant transfer arrives the same day but costs a small percentage of the amount you're sending—usually between 1% and 2%, with a minimum fee (often around 25 cents). If you need the money right away, instant transfer is worth the fee. If you can wait a few days, standard transfer saves you money.

Instant transfers are not available to every account or every bank. PayPal limits instant transfers to accounts in good standing and to certain banks and debit cards. If the instant transfer option doesn't appear when you try to send money, your account or your bank may not support it yet. You can still use the standard transfer method.

How to link your bank account to PayPal

Before you transfer anything, you need to add your bank account to PayPal. Log in to your PayPal account, click the Settings icon (gear symbol), and select Linked Banks and Cards. Click "Link a Bank Account" and enter your bank's name or routing number. PayPal will ask for your account type (checking or savings), your account number, and your routing number. You can find both numbers on a check or by logging into your bank's website.

After you submit this information, PayPal will send two small deposits to your bank account—usually less than $1 each. This takes a few business days. Once they arrive, go back to PayPal, click on the bank account, and enter the two amounts to confirm you own the account. After confirmation, your bank account is linked and ready to use for transfers.

Transfer limits and how they work

PayPal sets a limit on how much you can transfer at one time and how much you can transfer in a rolling period (usually 24 hours or a week, depending on your account). New accounts have lower limits—often $500 to $1,000 per transfer. As your account ages and you build a history of successful transactions, PayPal raises these limits. Established accounts may be able to transfer $5,000 or more in a single transfer.

If you hit your limit, you cannot transfer more until the rolling period resets. You can check your current limit by starting a transfer and looking at the maximum amount PayPal shows. If you need to move more money than your limit allows, you can wait for the period to reset and make another transfer, or contact PayPal support to ask about raising your limit.

What to do if your transfer fails or takes too long

If a transfer fails, PayPal will send you a notification explaining why. Common reasons include a mismatch between the name on your PayPal account and the name on your bank account, an incorrect routing or account number, or a bank that doesn't accept transfers from PayPal. The money will return to your PayPal balance within one to two business days. You can then try again with corrected information or a different bank account.

If a transfer is taking longer than expected, check your PayPal transaction history to see the status. Standard transfers usually arrive within three business days; if yours hasn't arrived after that, contact your bank first to confirm they received it. If your bank has no record of it, contact PayPal support with your transaction ID (found in your history) and they can investigate. Do not attempt to transfer the same amount again until you've confirmed the first transfer failed, or you may send the money twice.

Fees and when you pay them

Standard transfers from PayPal to your bank account are free. Instant transfers cost a percentage of the amount transferred, typically 1% to 2%, with a minimum fee of around 25 cents. Some promotions or account types may waive the instant transfer fee for a limited time. When you select instant transfer, PayPal shows you the exact fee before you confirm, so you know the cost before the money leaves your account.

The fee is deducted from your PayPal balance before the transfer is sent. If your PayPal balance is $100 and you request a $100 instant transfer with a 1.5% fee, PayPal will deduct $101.50 from your balance and send $100 to your bank. Make sure your PayPal balance is high enough to cover both the transfer amount and the fee.

Transfers from PayPal to a joint bank account

You can transfer money from PayPal to a joint bank account as long as your name is on the account. When you link the account to PayPal, use your name and the account number and routing number for the joint account. PayPal does not require all account holders to authorize the transfer—only the person whose name is linked to PayPal needs to initiate it.

If you are not on the account but want to transfer money to someone else's account, you cannot do it directly through PayPal's transfer feature. Instead, use PayPal's peer-to-peer payment option to send money to the account holder's PayPal account, and they can transfer it to their bank from there. Alternatively, if you have their bank details and they trust you, you can send them the money through your own bank using their account number and routing number.

Frequently Asked Questions

Can I transfer money from PayPal to a bank account that isn't in my name?

No. PayPal requires the bank account to be in the same name as your PayPal account. If you need to send money to someone else's bank account, use PayPal's peer-to-peer payment feature to send it to their PayPal account first, and they can transfer it to their bank from there.

What happens if I enter the wrong bank account number?

PayPal will attempt the transfer to the account number you provided. If the number is invalid or belongs to a different bank, the transfer will fail and the money will return to your PayPal balance within one to two business days. You can then try again with the correct account number.

How long does it take to verify a bank account after I link it?

PayPal deposits two small amounts into your bank account, which usually takes two to three business days to appear. Once you see them, you have 30 days to confirm the amounts in PayPal. After confirmation, your account is verified and ready to use immediately.

Can I transfer money from PayPal to a savings account instead of checking?

Yes. When you link your bank account, PayPal asks whether it's a checking or savings account. You can select savings, and transfers work the same way. The timeline and fees are identical.

What's the difference between a transfer and a withdrawal?

In PayPal's language, a transfer and a withdrawal are the same thing—both move money from your PayPal balance to your linked bank account. PayPal uses both terms interchangeably, so don't be confused if you see either one in your account.