With PayPal transfer, you can send money to sellers and friends. PayPal is how a lot of people interact with the internet when it comes to managing invoices or paying for items with a debit card. While you can load money into your account and leave it there and it is easier to link your account to your bank account so that money can be transferred to where you need it.
Before you will be able to transfer the money in your PayPal account you will need to link the account to your bank account or your bank card and there is no fee for this service. Transferring money to your account takes a few clicks and the money will be sent on and over to your bank and there are only a few stipulations. You will need to transfer at least a dollar to your bank account and a transfer made after 7 Pm ET will take longer to reach your bank.
PayPal Transfer to Bank Using Desktop
Here are the steps to follow on how to transfer your PayPal balance into your bank account.
- Open PayPal and log into your account.
- Click on transfer money and type the amount of money you want to transfer to your bank.
- Click on transfer and click on the bank account you want to transfer the money to.
The money will be transferred to your bank account within a few days.
PayPal Transfer to Bank Using Mobile App
This method works for both android and iOS devices.
- Open the PayPal app it is white P with a blue background icon.
- Log into your account.
- Tap on manage balance it is near the top of the screen.
- Tap on transfer money. You will not see this option if you have less than one dollar in your account.
- Select the bank you will want to withdraw the money to.
- Type in the amount you want to withdraw the limit is a dollar.
- Tap on next. And tap on transfer.
The transfer usually takes up to five business days.
PayPal to PayPal Transfer
Having a PayPal account allows you to make a limited amount of transfers between accounts without incurring the normal fees. Here is how.
- Log in to your PayPal account and select the send money tab.
- Enter the email address of the PayPal account to which you are transferring the money.
- Also, enter the amount you want to send.
- Select I am sending money to family or friends option.
- Click on continue, review the transaction details.
Click on send money to complete the transfer. After doing this PayPal will notify the recipients via email about the money sent to them. If you the person do not own a PayPal account there will be a link for him/her to open one.
PayPal Transfer Time
When you receive customer payments you will receive the funds immediately in your PayPal account. But to transfer from PayPal to a bank account usually takes between three to five days, weekends and holidays will affect the exact timing of when your money is deposited. And additional holding periods may apply when transferring money depending on your bank account.
PayPal offers different options when transferring money to your bank account once you get paid including manual or automatic transfers.
How to Automatically Transfer to your Bank with PayPal
To automatically transfer money to your bank account with PayPal you will have to enable the Auto sweep feature. Here is how.
- Log into your account and in the top right corner click on profile.
- In the profile, drop-down click on profile and settings.
- On the page that appears click on my money and in the section of PayPal balance hover the mouse on more.
- Click on an auto sweep and select edit.
- Click on edit and click on yes.
Select the bank you want your money transferred to and click on save. If you do not see the option to enable auto sweep please contact PayPal support and there will help you get it set up but it may not be available in all geographies.