PayPal is one of the safest online transaction platforms which you can use to transfer money to your bank account. You can transfer money from your personal PayPal account to your bank, but you cannot transfer money directly to another person’s bank account. Let us look at how to transfer money from PayPal to a bank in two easy steps.
How Do I Transfer Money from PayPal to My Bank Using Web Browser?
Anyone who wishes to transfer money from PayPal to their bank account needs to have a Verified PayPal Account. The following are the steps you need to follow:
- Log in to your PayPal account and if you do not have an account, you can simply sign up.
- Enter your correct email address and password in the fields provided on your screen. You will be redirected to your PayPal account.
- Click on the Summary icon on top of your PayPal account. You will see your PayPal balance and below the amount, you will see Transfer Finds.
- Click Transfer Funds. you will see a transfer to your bank. Select the bank you would like to transfer the amount to then click on the Next Button.
- Enter the amount you would like to transfer then click Next. You will be required to confirm the amount and bank to which you are transferring the money.
- If all the details are correct, you can Click Transfer Now, and the amount will be transferred to your Bank account.
How Do I Transfer Money from PayPal to My Bank Using PayPal App?
The PayPal app can be downloaded directly on your smartphone. It is a “P” that is outlined on a blue background icon.
- Click on the PayPal icon on your smartphone then log in with your correct email address and password. You can also use the Touch ID if your PayPal accepts and simply use your fingerprint to open.
- On the top of your PayPal account, you will see Manage Balance. Click on the Manage Balance icon. If you have less than a dollar in your account, you will not see the Transfer Money option.
- Click Transfer Money and you will be prompted to select your bank account. The transfer takes a day or two but if you have linked your debit card, it should take a few minutes.
- Select your bank and the amount you wish to transfer from your PayPal to your bank. The minimum amount you can transfer is one dollar then click Next.
- Confirm all the details and if they are correct. Click the Transfer button and the money will be transferred to your bank.
Next time you are wondering how you can transfer your money from PayPal to your bank, it should not be that difficult anymore. Make sure that you link your PayPal account with your bank account if you want to transfer money from either account.