The fastest way to transfer money from PayPal to your bank account
Open PayPal, click Wallet at the top, then select Transfer Money. Choose Transfer to your bank, enter the amount, pick which bank account you want the money to go to, and confirm. The money usually arrives in one to three business days if you use the standard transfer option, or the same day if you pay a small fee for an instant transfer.
You need a bank account already linked to your PayPal account before you can transfer. If you haven't added one yet, go to Settings (the gear icon), select Wallet, then Add a bank account. PayPal will ask for your routing number and account number — you can find both on a check or by logging into your bank's website.
Key Takeaways
- Standard transfers take one to three business days and cost nothing; instant transfers arrive the same day but charge a small percentage fee.
- You must link your bank account to PayPal before you can transfer, which requires your routing number and account number.
- PayPal holds some transfers for review, especially if the amount is large or your account is new — this can add a few extra days.
- If a transfer fails, PayPal will return the money to your PayPal balance within three to five business days.
Standard transfer versus instant transfer
PayPal offers two ways to move money to your bank. Standard transfer is free and takes one to three business days. Instant transfer arrives the same day but costs a percentage of the amount you're sending — usually between 1% and 1.75%, though the exact fee depends on your account type and PayPal's current rates. You'll see the exact fee before you confirm the transfer.
Use standard transfer if you can wait a few days. Use instant transfer if you need the money today and the fee is worth it to you. Both options move money to the same bank account; the only difference is speed and cost.
What happens if PayPal holds your transfer
PayPal sometimes puts a hold on transfers, especially if the amount is large, your account is new, or you haven't transferred money before. When this happens, PayPal will tell you in the app or by email. The hold usually lasts a few business days while PayPal checks that the transfer is legitimate.
You can't speed up a hold. If PayPal is reviewing your transfer, wait for the email that says it's been released. If you're worried about a hold, contact PayPal Support through the app — go to Help, then Contact Us — and explain why you need the money. They can't always remove the hold, but they can tell you when it will lift.
Troubleshooting a failed transfer
A transfer fails most often because the bank account information is wrong or your bank rejected it. If this happens, PayPal will send you an email explaining why. The money goes back to your PayPal balance within three to five business days.
Before you try again, double-check your routing number and account number against a check or your bank's website. If the numbers are correct, call your bank and ask if they've rejected any transfers from PayPal recently — some banks flag PayPal transfers as suspicious the first time. Your bank can whitelist PayPal so future transfers go through. Then try the transfer again in PayPal.
Linking a new bank account to PayPal
Go to Settings (gear icon), then Wallet, then Add a bank account. PayPal will ask for your bank's name, your account type (checking or savings), your routing number, and your account number. You can find all of this on a check or by logging into your bank's online portal.
After you enter the information, PayPal may send two small test deposits to your bank account — usually less than a dollar each. Your bank will show these deposits in your account within a few days. PayPal will then ask you to confirm the amounts of those deposits. Once you do, the account is linked and you can transfer money to it.
Some banks take longer to process test deposits. If you don't see them after five business days, contact your bank to make sure they're not filtering PayPal's deposits. Once the account is confirmed, you can transfer money immediately.
Moving money to a different bank account
If you have multiple bank accounts linked to PayPal, you can choose which one receives the transfer. When you click Transfer to your bank, PayPal will show you all linked accounts. Select the one you want, enter the amount, and confirm.
If you want to transfer to a bank account that isn't linked yet, you'll need to add it first using the steps above. You can't transfer to someone else's bank account directly from PayPal — the account must be in your name and linked to your PayPal account.
Frequently Asked Questions
How long does a transfer actually take?
Standard transfers take one to three business days. Instant transfers arrive the same day. Weekends and bank holidays don't count as business days, so a transfer initiated on Friday may not arrive until Tuesday. PayPal's timeline starts when you confirm the transfer, not when you initiate it.
Can I cancel a transfer after I've sent it?
If the transfer hasn't left PayPal yet, you can cancel it from the app — go to your activity, find the transfer, and select Cancel. Once the money has been sent to your bank, you can't cancel it through PayPal. Contact your bank instead and ask them to reverse the transfer, though they may charge a fee.
What if I transfer money to the wrong bank account?
If the account number belongs to someone else, your bank will usually reject the transfer and send the money back to PayPal within a few days. If the account number is valid but belongs to a different account of yours, the money will arrive there. Contact your bank immediately if you sent it to the wrong place — they can sometimes reverse it, but there's no may provide.
Do I have to pay taxes on money I transfer from PayPal?
Transferring money from PayPal to your bank account is not a taxable event — you're moving money you already have, not earning new income. However, the money in your PayPal account may have come from income or sales that you do owe taxes on. Keep records of where your PayPal money came from so you can report it correctly to the IRS.
Why is PayPal asking me to confirm my identity before I transfer?
PayPal asks for identity confirmation when your account is new, when you're transferring a large amount, or when the transfer looks unusual compared to your normal activity. You'll need to provide your Social Security number or other identifying information. This is a security step and is required before the transfer can go through.