In our today’s PayPal guide, you will learn how to transfer paypal money to bank account. You probably must have gotten or received money into your PayPal Account and then’ all of a sudden, you start wondering what you should do with it.
Definitely, an idea comes into your mind, to transfer the money from PayPal to your bank account. But still, you do not know how this can be done and there is no guide that will help guide you on how to transfer paypal money to bank account.
You see, knowing how to transfer money from your PayPal account straight into a Bank account is highly important especially if your job, studies, or anything you do requires the usage of PayPal. And unfortunately, most jobs today now require the usage of PayPal and also studies as you might want to get money from your friends and family.
In this article, I will be sharing with you everything that you need to know regarding how to transfer money from PayPal to bank account without stress or any hassle. And along with these steps, I will also be answering a lot of the questions that you might have or care to ask regarding how this can be done.
This will include questions like; “How to link bank account to PayPal?, how long does it take to transfer money from PayPal to bank account “ and a lot of other questions that you might have regarding this topic. So, without further ado, let us proceed ;
Can I Transfer Money From PayPal To Bank Account?
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Yes, you can actually transfer money from your PayPal account straight into your bank account. This includes all sorts of banks as far as you have had them linked to your PayPal account.
Later on in this guide, I will be showing you how to transfer money from PayPal to bank using different devices and how to link bank accounts to PayPal easily.
How To Transfer PayPal Money To Bank Account
The PayPal mobile app is a very convenient way to make transactions including the transferring of money into a bank account.
Although this is not the same for everybody and it happens to be a matter of individual reference, I believe that the PayPal mobile app is easy to use and navigate through.
But nevertheless, it still works perfectly well. Below are steps on how to transfer money from PayPal to bank on app;
- Open the PayPal mobile app. You can download it from the Apple App store if you are using an iOS device or the Google play store if you are using an Android device or the Apk version at www.apkpure.com
- Log in to your PayPal account
- Click on your PayPal balance on the account dashboard
- On the option shown at the bottom of the screen, click on Transfer
- Enter the amount that you wish to transfer
- Tap on the bank details of the person that will be the recipient of the transaction. You can link their bank details if in case it has not been linked.
- Select the Payment method that you will be using for the transaction
- Click on “Send” to send the money
How To Transfer Money From PayPal To Bank On Website Or PC
Similar to transferring money from PayPal to bank on app, transferring money from PayPal to bank on a website or a PC is a very simple process. However, unlike the procedures for the mobile app transaction, you will not need to download the PayPal mobile app to be able to do the transaction.
Below are steps on how to transfer money from PayPal to bank on website or a PC –
- Visit the official PayPal website at www.PayPal.com
- Log into your PayPal account
- On the dashboard of your PayPal account, click on your PayPal wallet
- Select “Send Money” from the options shown to you from the drop down menu shown on your screen.
- Enter the amount that you wish to transfer to the bank account
- Tap on the bank details of the person that will be the recipient of the transaction. You can link their bank details if it has not been linked.
- Select the Payment method that you will be using for the transaction
- Click on “Send” to send the money to the bank account from the PayPal account.
How To Link Bank Account To PayPal
Having your bank account linked to your PayPal account is important and it is required for the recipient of the transaction to be identified with ease. Below are steps on how to link bank account to PayPal;
- Log in to your PayPal account
- Navigate your PayPal wallet
- Tap on the PayPal wallet
- Click on “Link a bank account“
- On the form field, enter your bank account details.
- Click on Add
PayPal Money Transfer To Bank Account Limit
The minimum amount of money that one can transfer from a PayPal account to a bank account is basically around $1. This is the same in all other currencies of the world such as £1, €1, ¥1 and more. Learn more on PayPal withdrawal limit.
How Long Does It Take To Transfer Money From PayPal To Bank Account?
Usually, transfers from PayPal to a bank account are usually instantaneous. That is, it takes just an instant for the PayPal cash to appear at their bank account.
However, there could be cases where there are cases where transfers might take up to 24 hours. In this case, you can contact your bank customer support.
PayPal Money Transfer To Bank Account Fees
In transferring cash from PayPal to a bank account no fee is actually involved. You can actually send money to a few people.
However, if you will be receiving money into your bank account, you will be charged. Albeit not from PayPal but from the bank itself.
FAQ’s
Is It Safe To Transfer Money From PayPal To Bank?
Yes, it is actually very safe to transfer money from PayPal to a bank account. The transactions are very secured as both parties (PayPal and the bank account).
However, in case of any case of insecurity during the transaction, you can contact either PayPal or your bank depending on where the danger seems to emerge from.
Can I Send Money From My PayPal Account To Another Persons Bank Account?
Yes, you can actually send money from your PayPal account straight to another person’s bank account easily without any stress or hassle or the transaction showing you an error.
At the end of the day, it does not actually matter if the bank account is yours or that the PayPal account is yours as these would not even be the factors that would be considered for this transaction to go through.
Can I Transfer Money From PayPal Account To My Bank Account?
Yes, you can actually transfer money from your PayPal account into your bank account. However, it is not made mandatory that the PayPal account and the bank account has to be registered in your name.
And as I said earlier, at the end of the day, it does not actually matter if the bank account is yours or that the PayPal account is yours as these would not even be the factors that would be considered for this transaction to go through.
Are There PayPal Conversion Fees?
Yes,there are PayPal conversion fees if you will be converting from one foreign currency to another or probably yours. These fees are usually due to the exchange rate.
Why Can’t I Transfer Money From PayPal To My Bank Account?
You may not be able to transfer money from PayPal to bank account due to a number of reasons. One of such might be that you entered the wrong bank details or that you have insufficient cash. However, you can contact the PayPal customer service to provide you with more details.
Summary
At this point, I will be dropping my pen” and hopefully you have learnt how to transfer paypal money to bank account. If along the line, you encounter any challenges” feel free to use the comment box below to give us feedback. Also refer to our related articles for more guide.