How to Get Your PayPal Money Into Your Bank Account Fast

therealminaofficialLast Updated: January 2, 2024

Ever sold an old sofa on Craigslist or some clothes on eBay and now have money sitting in your PayPal account you want in your actual bank account? Don’t worry, getting your PayPal Money into your bank account is actually pretty easy.

Within a couple business days, you’ll have that money transferred over and ready to spend however you like. All you need is a bank account, your PayPal password, and about 5 spare minutes to get the money moving.

PayPal makes the process simple so you can get your cash where you need it quickly. Before you know it, that extra money from your online side hustles will be in your account and you’ll be that much closer to your next financial goal. Here are the steps to transfer money from PayPal to your bank account in no time.

Linking Your Bank Account or Debit Card to PayPal

Linking your bank account or debit card to PayPal is super easy and allows you to transfer money between the two in just a few clicks.

Connecting Your Bank Account

Log in to your PayPal account and click “Link Bank Account” under the “Money” tab. Enter your account information like routing and account numbers which you can find on your checks or bank statements.

PayPal will make two small deposits in your account over the next couple of days to verify it. Once you see these deposits, log back in to PayPal, enter the amounts, and your bank account will be linked.

Now you can transfer money from your PayPal balance to your bank account instantly for free. Just go to the “Transfer Money” option, choose the account you want to transfer to, enter the amount, and the funds will be in your bank account in minutes.

Adding a Debit Card

To link a debit card, log in to PayPal and select “Link Debit Card” under the “Money” tab. Enter your card number, expiration date, and security code. PayPal will charge $1.95 to your card which will be refunded within 3 to 5 days to verify your card.

Once verified, you can transfer money from your PayPal account to your debit card. The funds will be available to use within 30 minutes. Keep in mind there is a small fee for debit card transfers, typically 1% of the amount with a minimum of $0.25 per transaction.

Linking a bank account or debit card provides a quick and convenient way to access your PayPal funds. Why wait when you can get your money fast and fee-free? Take a few minutes to connect your accounts so your money is at your fingertips whenever you need it.

Transferring Money From PayPal to Your Bank Account

So you’ve got money in your PayPal account, but now you need those funds in your bank account ASAP. Don’t worry, transferring money from PayPal to your bank account or debit card is fast and easy.

Linking Your Bank Account

First, you’ll need to link your bank account to your PayPal account. Log in to PayPal, go to Settings and select “Link a bank account.” Enter your bank account information like the account number and routing number.

PayPal will make two small deposits in your account over the next 1-2 days. Once you receive them, log back in to PayPal, enter the amounts, and your bank account will be linked.

Transferring Funds

Now you’re ready to transfer money. In your PayPal balance page, select “Transfer Funds.” Choose your linked bank account as the destination and enter the amount you want to transfer.

The money will be deposited directly into your account, typically within 3 business days. PayPal doesn’t charge any fees for bank transfers, so you’ll get the full amount.

If you need the money even faster, you can transfer to an eligible debit card instead. PayPal will charge a small fee for debit card transfers but deposits usually post within 30 minutes.

Either way, PayPal offers a quick, affordable way to get your money where you need it. Whether paying bills, covering emergency expenses or just accessing your hard-earned cash, PayPal has you covered.

Withdrawing PayPal Funds to Your Debit Card

Withdrawing your PayPal funds to a debit card is one of the fastest ways to get your money. Here are the steps to transfer from PayPal to your debit card:

Link Your Debit Card

The first thing you’ll need to do is link your debit card to your PayPal account.

Log in to your PayPal account and select “Wallet” from the menu.
Click “Link a Debit Card.”
Enter your debit card number and billing information. PayPal will verify the card, which usually takes 2-3 business days.

Once verified, your debit card will appear in your PayPal wallet and you’ll be ready to withdraw funds to it.

Initiate a Withdrawal

Log in to PayPal and select “Transfer Money” or “Withdraw Funds.”
Choose the withdrawal method as “Withdraw funds to your debit card.” Enter the amount you want to transfer.
Review and confirm the details of your withdrawal including any fees that may apply. Typically, PayPal debit card withdrawals are free and take 3 to 4 business days to process.
PayPal will review your withdrawal request. Funds are usually available in your bank account linked to the debit card within 3 business days. You’ll receive an email notification from PayPal when your withdrawal has been processed.
Log in to your bank account to confirm the funds have been deposited. The amount withdrawn from your PayPal balance should now appear in your account.
You can withdraw up to $5,000 per transaction and $10,000 per week from PayPal to a verified debit card. Higher limits may apply depending on your PayPal account status and verification level.
Debit card withdrawals typically take 3-4 days to process but can be faster depending on your bank. This is still generally quicker than linking a bank account which can take 4-5 business days.

Using these steps, you can get your PayPal funds into your bank account linked to your debit card efficiently. Let me know if you have any other questions!

How Long Do PayPal Transfers to Bank Accounts Take?

Once you’ve initiated a transfer of funds from your PayPal account to your bank account, you’re probably wondering how long it will take for the money to actually show up. The time it takes for PayPal transfers to reach your bank account depends on a few factors, but you can typically expect the funds to be available within 3 to 5 business days.

Bank Processing Times

The biggest factor determining how quickly your PayPal transfer reaches your bank account is your bank’s processing times. Most major banks will make the funds available within 2 to 3 business days. Some smaller banks or credit unions may take an extra day or two.

It’s a good idea to check with your specific bank to get an estimate of their typical processing time for electronic transfers like those from PayPal.

Transfer Method

The method you choose to transfer the funds also plays a role in the time it takes. Using PayPal’s standard bank transfer option is usually the slowest, taking 3 to 5 days. However, if you transfer the money using your bank account number and routing number (ACH transfer), the process is typically a bit faster at 2 to 3 days. The quickest option is to use your eligible debit card which provides instant transfers in many cases.

Weekends & Holidays

Keep in mind that PayPal only processes transfers on business days, Monday through Friday, excluding holidays. So if you initiate a transfer on a Thursday or Friday, your bank likely won’t receive the funds until the following Monday at the earliest. And if there’s a holiday like Christmas that falls on a business day, it can add an extra day of delay.

The bottom line is that while PayPal aims to process your transfers as quickly as possible, the time required to fully complete a transfer to your bank account is ultimately outside of PayPal’s control.

But by choosing the fastest transfer methods, being aware of weekends and holidays, and understanding your bank’s processing times, you can get a good estimate of when your PayPal funds will become available.

If for some reason your transfer seems to be taking longer than expected, don’t hesitate to contact PayPal’s customer service to check on the status.

Troubleshooting Issues With PayPal Transfers to Banks

Sometimes PayPal transfers can hit roadblocks. If your transfer is taking longer than expected or not showing up at all, here are a few things to check:

Double check your bank info

Make sure the bank account number, routing number, and any other details entered match exactly what’s on your bank statement or debit card. One incorrect number can cause the whole transfer to fail or go to the wrong place.

Confirm the transfer status

Log in to your PayPal account and locate the transfer in your transaction history. The status should show as “Completed.” If not, the transfer may still be pending or processing. Most transfers go through within 3 business days, so give it some extra time. If it’s been longer than that, it’s best to take action.

Call your bank

Contact your bank’s customer service to inquire if they see any pending deposits or if there are any issues on their end preventing the transfer. They may need to manually credit the funds to your account. Have details about the PayPal transfer ready, like the date, amount, and transaction number.

Contact PayPal support

If calling the bank doesn’t resolve the issue, reach out to PayPal’s customer service. They can investigate what happened to your transfer and resend it if needed. Be prepared to verify your identity and provide any details about the transaction.

Consider other options

As a last resort, you may need to cancel the original transfer and initiate a new one. Or, you can request PayPal send the funds to you another way, such as mailing a paper check or loading the balance to a PayPal Cash card that you can then withdraw cash from.

With some patience and the help of bank and PayPal support, most transfer troubles can get sorted out. Staying on top of the details and not hesitating to ask questions will get your hard-earned money where it needs to go.

Conclusion

So there you have it, a few simple steps to get your PayPal funds where they need to go – into your bank account for bill paying and other essentials.

While the standard transfer process may take a couple of business days, using options like the instant transfer or PayPal debit card can put cash in your hands right away when you need it.

PayPal makes it easy to buy and sell online, and by linking a bank account or card, they make it just as simple to access your money offline when you want.

Next time you sell those concert tickets or a piece of furniture, you’ll know exactly how to get paid and enjoy the fruits of your labor as quickly as possible. Now go forth and transfer – your money is waiting!