How do I transfer money from Paypal to my bank account?

To initiate a withdrawal, the first step is to sign into your PayPal account. Visit the PayPal website and enter your registered email address and password. If you have enabled two-factor authentication, follow the additional steps to secure your account. 

Alternatively, you can login to your account via PayPal’s mobile app.

Once you have completed your identity verification and confirmed your email address, you’ll need to link your bank account/s to your PayPal account if you haven’t already done so.

To link a bank account to your PayPal account you’ll need to click on the Wallet tab at the top of the page, click Link a bank account and follow the instructions to add your bank account.

If you’re using the PayPal app, the process is similar. Tap Wallet, tap the + symbol across from Banks and cards and then tap Banks. Follow the instructions to link your bank account.

If you’re using the business app, you’ll need to tap More, then Settings, go to Cards and banks and then tap Link a card or bank account. Choose your preferred option and follow the instructions to link your bank account.

Once you've successfully linked your desired bank account, locate and click on the Wallet tab on the top navigation bar. Within this section, you'll find a link to Transfer money. Click Transfer to your bank to proceed to the withdrawal page.

Similarly, from within the PayPal app, you’ll need to tap your PayPal Balance and then tap Transfer money and follow the instructions.

PayPal provides two different withdrawal methods to cater to various user preferences. These methods are:

• Instant withdrawal: Typically takes a few minutes to complete (up to 30 minutes) and you’ll incur a small fee.
• Standard withdrawal: This is a fee-free transfer and is typically completed in one working day. However, depending on your bank's clearing process, it may take three to five working days, or possibly longer.

After selecting your preferred withdrawal method, you'll be prompted to enter the amount you wish to withdraw. Double-check the amount to avoid any errors, as incorrect transactions may incur additional fees or delays.

Once you've entered the withdrawal amount and reviewed the accuracy of the transaction details, click on the Continue or Withdraw button to confirm the transaction.

Upon processing, the withdrawn amount will be available in your linked bank account. Don’t forget that some transactions may take longer to process than others.

It’s important to check your bank account to confirm that the money has been successfully deposited.

Beware of fees

PayPal may charge nominal fees for certain withdrawal methods. It is essential to check PayPal's official consumer fees to be aware of any applicable charges. Additionally, some banks may charge fees for electronic funds transfers. Contact your bank directly for more information.

Currency conversion

PayPal only supports transfers in local currency.

Account Verification

To ensure security, PayPal may sometimes require additional account verification, which may involve confirming your identity or providing additional documents.

Can I cancel a withdrawal from my PayPal account?

Once you’ve requested a withdrawal from your PayPal account, you can’t cancel it. If the transfer is complete and you need the money in your PayPal account, you can add it back.

Stay up-to-date with PayPal’s policies

Withdrawing money from your PayPal account is generally a straightforward process. However, it’s important to remember to stay updated on PayPal's policies and fees to ensure you’re making cost-effective and efficient financial transactions.

All transfers are subject to review and could be delayed or stopped if PayPal identifies an issue. Some withdrawals may be held for up to 72 hours for further review. This review can happen for various reasons. For example, PayPal may review the withdrawal if you’ve received a higher-than-usual payment or if you’ve logged in from an unsecured network.

Once a transfer passes review, you’ll see the status update to Completed. The regular transfer timeframe will then take effect.