Yes, you can change your bank account on PayPal at any time
You can add a new bank account, remove an old one, or switch which account PayPal uses for transfers. The process takes a few minutes and happens entirely in your PayPal settings. You do not need to contact PayPal support unless something goes wrong during verification.
PayPal verifies new bank accounts by sending two small deposits (usually under $1 each) to the account within one to two business days. You then confirm the amounts in your PayPal app or website to prove you own the account. Only after verification can you use that account to receive money or withdraw your PayPal balance.
Key Takeaways
- Add a new bank account in PayPal settings under Wallet or Financial Information, then wait for two verification deposits to arrive.
- You must confirm the deposit amounts in PayPal within 30 days, or the verification expires and you have to start over.
- Removing an old account is instant, but any pending transfers to that account will fail and bounce back to your PayPal balance.
- If you change your account before a transfer completes, the money goes to your old account, not the new one.
- PayPal holds some transfers for 24 hours before sending them, so timing matters when you switch accounts.
How to add a new bank account
Log into PayPal on a computer or phone. On the website, click the gear icon (Settings) in the top right, then select Wallet or Financial Information depending on your account type. On the app, tap the menu icon and look for Wallet.
Click Link a bank account or Add bank account. Enter your routing number and account number exactly as they appear on a check or your bank's website. PayPal will ask for your bank name and account type (checking or savings). Do not guess or abbreviate — a wrong number means the verification deposits go to the wrong place and you cannot confirm them.
After you submit, PayPal sends two small deposits to your account within one to two business days. Check your bank account online or through your bank's app. The deposits will show as coming from PayPal with a reference code in the description (for example, "PP 12 34" or similar). Write down both amounts.
Confirming the verification deposits
Return to PayPal and go back to your bank account settings. You will see a prompt to confirm the deposit amounts. Enter both numbers exactly as they appear in your bank account. If you enter them wrong, PayPal gives you two more attempts before you have to start the whole process over.
Once you confirm correctly, PayPal removes the deposits from your account (you do not keep the money) and marks the account as verified. This usually happens instantly, though it can take up to 24 hours. After verification, you can use this account to receive transfers and withdraw your PayPal balance.
If you do not confirm the deposits within 30 days, the verification expires. The two small deposits stay in your bank account, but you cannot use them to verify. You have to add the account again and wait for new deposits.
Removing an old bank account
Go to your bank account settings in PayPal (same path as adding one). Find the account you want to remove and click Remove or the trash icon. PayPal asks you to confirm — once you do, the account is deleted immediately and you cannot undo it.
If you have a transfer in progress to that account, it will fail. The money bounces back to your PayPal balance within one to three business days. You then have to add a new account and request a new transfer if you want the money to go to your bank.
If you remove your only linked account, you cannot withdraw money from PayPal until you add a new one and complete verification. Keep at least one verified account active if you plan to move money regularly.
Switching which account receives transfers
If you have multiple bank accounts linked to PayPal, you can choose which one receives your next transfer. When you request a withdrawal, PayPal shows a dropdown menu with all your verified accounts. Select the one you want and confirm the amount.
This does not change your default account for future transfers — you have to pick a specific account each time you withdraw. If you want one account to be your primary, remove the others and keep only the one you use most.
What happens if you change your account mid-transfer
PayPal does not send transfers to your bank instantly. Most transfers sit in PayPal for 24 hours before they leave your account. If you remove your bank account or change your default account during this window, the transfer still goes to the original account you selected, not the new one.
Once a transfer has left PayPal and entered the banking system (usually after 24 hours), you cannot stop it or redirect it. If you need the money to go somewhere else, you have to wait for it to arrive at the old account, then transfer it yourself or request a new withdrawal to the correct account.
Fixing problems with bank account verification
If the verification deposits do not arrive after three business days, your routing or account number is likely wrong. Remove the account from PayPal and add it again, checking every digit against your bank statement or your bank's website.
If you entered the deposit amounts wrong and used up your two attempts, you have to remove the account and start over. PayPal does not offer a way to retry after the second failure — the only path forward is to add the account again and wait for new deposits.
If your bank rejected the deposits (rare, but it happens), contact your bank first to ask why. Some banks block small transfers from third parties or flag them as suspicious. Once your bank allows them through, add the account to PayPal again.
Frequently Asked Questions
How long does it take to verify a new bank account?
The two verification deposits usually arrive within one to two business days. Once they arrive, you can confirm them immediately in PayPal, and the account is verified right away. The entire process typically takes two to four business days from start to finish.
Can I use my bank account before it is verified?
No. You can only receive transfers and withdraw money to a verified account. Until you confirm the deposit amounts, PayPal locks that account. You can still use other verified accounts or keep money in your PayPal balance.
What if I accidentally removed my bank account?
You cannot undo a removal, but you can add the same account again. You will have to wait for new verification deposits and confirm them. If a transfer was in progress to that account, it bounces back to your PayPal balance while you re-verify.
Do I lose money when PayPal sends the verification deposits?
No. The two small deposits (usually under $1 total) are removed from your account once you confirm them. You do not keep the money, and you are not charged a fee.
Can I change my bank account if I have a pending transfer?
You can remove or change accounts, but the pending transfer still goes to the account you originally selected. If you need it to go somewhere else, wait for it to arrive at the original account, then request a new transfer to the correct one.