With Paypal, you can quickly transfer money in just a few simple steps. Not only this but, usually, you can move your PayPal balance to your eligible bank account in minutes with Instant Transfer. Moreover, both the website version as well as the mobile app support this option.
Don’t worry about being charged for the transfer. PayPal charges no fees for transferring money to a linked bank account. In rare cases, some banks charge a small fee. Otherwise, this transaction should be free.
Furthermore, the instant PayPal transfer takes up to 30 minutes. Usually, most people can see the transaction within a minute or two. However, on the other hand, a standard transfer to a bank might take up to 5 business days.
Now, let’s take a look at how you can instantly transfer money from your PayPal balance to your eligible debit card or bank account.
How to Transfer Money From PayPal to Bank
Step 1: Login your PayPal Account. You will be able to see your recent activity and available balance.
Step 2: Make sure your bank account is linked to your PayPal Account. If it is not, do the following:
- Click “Wallet” at the top of the page (if you’re on a mobile device, tap Menu then Wallet)
- Click “Link a bank account.”
- Select your bank or click “Don’t see your bank?” at the bottom.
- Depending on the bank you select, you may have the option to link your bank instantly using your online banking login information.
- If the instant option isn’t available, just enter your bank account details manually and click “Agree and Link.”
Step 3: Click “Transfer Money” on the homepage and choose how you’d like to receive your money.
Step 4: Select your eligible debit card or bank account, and then click “Next.“
Step 5: Enter the amount you would like to transfer and then click “Next.“
Step 6: Review your request and the details of your transfer, then click “Transfer.”