The most common way to withdraw your money from PayPal is through a bank account. Paypal has an option to link your bank account to it, and withdrawals can easily be made from the PayPal account to the bank account linked to it.
One thing about PayPal to bank withdrawals, is that it is more straightforward and faster than other withdraw methods that may be available.
How To Transfer Money From PayPal To The Bank Account Using The PayPal Mobile App
Using the PayPal mobile app, you can transfer money from your PayPal account straight into your bank account without any stress. Below are steps to follow.
- Open the PayPal mobile app.
- Log in to your Paypal account.
- On your PayPal account dashboard, click “Send Money”.
- Tap “Transfer To Bank Account”.
- Select the bank that you will be transferring the money to.
- Enter the details of the bank account which you will be sending the money to.
- Click on Send money.
- Enter the amount which you will be sending the money to.
- Click on “Send Money”.
How To Transfer Money From PayPal To Bank Account Using The Paypal Website
Aside from the mobile app, you can also transfer funds from PayPal to your bank account using the official PayPal website. Below are steps to follow:
- Visit the PayPal official website at www.PayPal.com.
- Log in to your Paypal account.
- On your PayPal account dashboard, click “Send Money”.
- Tap “Transfer To Bank Account”.
- Select the bank that you will be transferring the money to.
- Enter the details of the bank account which you will be sending the money to.
- Click on Send money.
- Enter the amount which you will be sending the money to.
- Click on “Send Money”.
How Long Does It Take To Transfer Money From PayPal To Bank Account?
Transferring money from PayPal to a bank account usually takes an instant. However, in some cases, it may take about 30 minutes or even more, depending on the reason why the transaction is being delayed.
PayPal Transfer to Bank Account Fee
PayPal charges a fee for every PayPal to bank type of transaction. Usually, it charges around 1% for the transaction. However, this is subject to increase if the currency will have to be converted.
Who Pays The Fees For The Transfer?
PayPal charges the sender of the transaction. For example: if you send like $100 from your PayPal to bank account, PayPal is going to deduct some fees in addition to the $100 you are sending. That means if you are sending $100, you may need to have more than $100 in your PayPal account, so that PayPal can deduct their fees.
Is There A Minimum Amount That Can Be Sent From PayPal To Bank?
Yes, there is a minimum amount that you can transfer from PayPal to bank accounts. The minimum amount is usually $10.
