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How to Transfer Money from PayPal to Bank Account
While PayPal is great for having other people make online payments to you, most shopping establishments don't let you pay for items using funds from your PayPal account. As a result, one option is to transfer the funds from your PayPal account to a bank account. After you initiate the transfer of funds from your PayPal account to an authorized bank account, it will still take three to five days for the funds to be fully moved.
Transferring Money from PayPal to Your Bank Account
- Open your Web browser and navigate to the PayPal home page.
- In the Account Login section, enter the e-mail and password associated with your PayPal account, then click "Log In."
- Click the "My Account" tab along the top of your PayPal home page.
- Check the balance of your PayPal account displayed to the right of PayPal Balance.
- Hold your cursor over "Withdraw" until a drop-down menu appears.
- Click "Transfer to Bank Account" beneath the Withdraw section to open the Transfer Money to Your Bank Account screen.
- If you have already added a bank account or accounts to your PayPal profile, enter the amount you want to transfer from your PayPal balance to your bank account to the right of Amount, select the bank you want to transfer the money to from the drop-down menu to the right of To and then click "Continue" to open the Review Your Bank Transfer Information screen. If you haven't added a bank account or you want to transfer the money to a different bank account, click "Add Bank Account" to the right of To. From this screen you can enter the information required to begin the process of adding your bank account, which will take between one and five days, depending on your bank. To add a bank you'll need to know whether your account is a checking or savings account, and the routing number and bank account number, both of which are available on your checks.
- Click "Submit" after you verify the information on the Review Your Bank Transfer Information to begin the transfer of the money from your PayPal account to your PayPal account, which will take between three and five days.