Does paypal automatically transfer money to bank account

• You can transfer money from PayPal to your bank account in just a few steps after you've linked your bank with PayPal. 
• It's possible to transfer money from the Wallet page of the PayPal website or the main screen in the mobile app.
• There are no PayPal fees for transferring money to a linked bank account — as long as your bank doesn't charge you, it should be totally free. 
• Visit Business Insider's homepage for more stories.

There are a couple of ways to get money out of your PayPal account, but some methods — like requesting a check to be sent to you through the mail — cost an additional fee. 

Transferring money from PayPal directly to your bank account is almost always free (unless your bank charges a transfer fee, which is unlikely). 

As long as you have linked your bank account to your PayPal account, you can transfer money using a web browser or the mobile app on your iPhone or Android phone. 

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How to transfer money from PayPal to your bank account using the mobile app

1. Start the PayPal app on your phone and log in, if needed.

2. Tap your PayPal balance.

3. At the bottom of the screen, tap "Transfer," and then tap "Transfer Money."

4. Tap the bank account that you want to transfer money to and then tap "Next."

5. Enter the amount of money you want to transfer and then tap "Next."

6. Confirm that you want to complete this transaction by tapping "Transfer $xxx Now."

How to transfer money from PayPal to your bank account using a web browser

1. Open PayPal.com in a web browser and log in, if needed.

2. If you're not already on the Wallet page, click "Wallet" at the top of the screen.

3. Click "Transfer Money."

4. Click "Transfer to your bank."

5. Select the account you want to transfer to and then click "Next."

6. Enter the amount of money you want to transfer and then click "Next."

7. Confirm that you want to complete this transaction by clicking "Transfer $xxx Now."

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Dave Johnson

Freelance Writer

Dave Johnson is a technology journalist who writes about consumer tech and how the industry is transforming the speculative world of science fiction into modern-day real life. Dave grew up in New Jersey before entering the Air Force to operate satellites, teach space operations, and do space launch planning. He then spent eight years as a content lead on the Windows team at Microsoft. As a photographer, Dave has photographed wolves in their natural environment; he's also a scuba instructor and co-host of several podcasts. Dave is the author of more than two dozen books and has contributed to many sites and publications including CNET, Forbes, PC World, How To Geek, and Insider.

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5 Min. Read

1. Hub
2. Payments
3. How to Transfer Money from PayPal to Bank: A Step By Step Guide

June 28, 2021

New to PayPal? It’s exciting to see the money fly in. Here’s how to transfer earnings to your bank account.

Receiving online payments through PayPal is quite a rush. Don't you love that “ka-ching” noise from your phone every time you receive payment? That's just one of the reasons why millions of people love it as a prime choice for payment processing.

Having a padded PayPal wallet is great, but how do you safely and simply move funds to your bank account? Can you withdraw to an international bank account?

Here is our step-by-step guide. 

Here’s What We’ll Cover:

How to Transfer Money from PayPal to Bank Account from Your Browser

How to Transfer Money from PayPal to Bank Account from Your Mobile App

Key Takeaways

How to Transfer Money from PayPal to Bank Account from Your Browser

Step 1. Link an Eligible Debit Card and/or Bank Account

You don’t have to have a linked bank account or debit card to start receiving money via PayPal. But, connecting your account to your PayPal wallet enables you to receive more money and is essential to make transfers to your bank account.

PayPal will prompt you to set up a direct debit order with your bank account to allow money to flow freely between your accounts.

Note: You cannot do electronic funds transfers without a confirmed bank account.

Step 2. Go to Your PayPal Wallet to Begin Your Transfer

Hover your cursor over the “Pay & Get Paid”, and select “transfer money” from the dropdown menu. 

Step 3. Decide How You Want to Transfer

Once you click “transfer money” you will see your available bank accounts and cards you can send your cash withdrawal. You will also see the option to have an instant transfer or a standard transfer. 

Now, is there a fee for withdrawals? To quickly break it down: 

• Standard transfer to bank account - fee free transfer
• Instant transfer to bank account - 1% fee on the amount you're transferring
• Instant transfer to debit card - 1% fee on the amount  you're transferring 

Step 4. Enter How Much You Want to Transfer

After clicking the account you would like to send your money to, you must enter the amount you are transferring. 

For those who accept foreign payments: PayPal accepts dozens of currencies so you can accept money from customers as best suits them. 

If the money that is currently in your account is in foreign currencies, there will be an additional cost on top of the exchange rates. The currency conversion fee is generally 1.5%. The screen will show you how much you will be receiving in your local currency in your bank account. 

Step 5. Double Check Your Transfer Details

The final screen will show you: 

• The amount you are transferring to your account
• Any transfer fees
• The final amount that will reach your account
• Which eligible bank you are sending your money to

If it all looks good, click “Transfer Now” to begin the process. If not, you still have time to fix any mistakes by clicking “back”. 

Step 6. How Long Does It Take for PayPal to Transfer to Your Bank Account?

Now for the waiting game! The wait varies from country to country. PayPal to bank transfers have different waiting times depending on how you chose to transfer funds: 

• Standard transfer - generally the clearing process is 1-3 business days (sometimes up to 3-5 business days)
• Instant transfer - up to 30 minutes

If your money hasn't arrived within 5-10 business days, contact customer services.

After you order the transfer, you will get an email notification and confirmation link.

How to Transfer Money from PayPal to Bank Account from Your Mobile App

Transferring money from your PayPal account to your bank is even easier on mobile. 

Step 1. Log Into Your PayPal App

Step 2. Tap Your PayPal Balance

Your balance will be the first thing you see when you enter the app. 

Step 3. Tap “Transfer”

You can find this button at the bottom of the screen. 

Step 4. Indicate Where You Want Your Money Transferred to

The next screen shows you your available transfer options. They are the same as the desktop version. As long as your bank account is linked, it will appear as an option. 

Step 5. Enter the Amount You Want to Transfer

On the next screen, PayPal will prompt you to enter the amount of money you want to transfer. Click “enter” when you are done. 

Step 6. Double Check Your Transfer Details

Just like the desktop version, you have the chance to check if the transfer details are correct. When you’re ready, click “transfer now” to start the process. 

Key Takeaways

You’ve worked hard to earn money in your PayPal account and now it’s time to enjoy it! Transferring money from PayPal to your bank is a simple process. The instant payment option comes at a cost. But if you don't mind a longer transfer time, a standard transfer has 0 fees!

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