The fastest way is PayPal's standard transfer, which takes one to two business days and costs nothing
Open PayPal on your phone or computer, go to your Wallet, and select the bank account you want to send money to. Choose how much to transfer, confirm the amount, and PayPal will move it. The money lands in your account within one to two business days. There is no fee for this transfer method.
If you have not linked a bank account to PayPal yet, you will need to do that first. PayPal will ask for your routing number and account number — you can find both on a check, or log into your bank's website to see them. PayPal verifies the account by sending two small deposits (usually under a dollar each) to your bank, which you then confirm in the PayPal app. This verification step takes a few days but only happens once.
The standard transfer is the method most people use because it is free and reliable. If you need the money faster, PayPal offers an instant transfer option, but it charges a fee — usually around 1% of the amount, with a minimum charge of 25 cents.
Key Takeaways
- Standard transfers from PayPal to a linked bank account are free and take one to two business days.
- You must link your bank account to PayPal first by providing your routing and account numbers, which PayPal verifies with two small test deposits.
- Instant transfers cost about 1% of the amount you send, with a 25-cent minimum fee, and the money arrives within 30 minutes.
- If you do not have a bank account, you can transfer PayPal money to a PayPal Cash or Cash Plus card instead, which you can then use to withdraw cash at ATMs.
How to link your bank account if you have not already
Go to Settings in PayPal, then select Wallet. Click "Link a bank account" and enter your bank's name or routing number. PayPal will pull up your bank and ask you to log in with your online banking credentials. Some banks let PayPal verify your account instantly this way; others require the two-deposit method.
If your bank is not in PayPal's system or you prefer not to log in through PayPal, choose the manual entry option. Type in your routing number and account number, then wait for PayPal to send two small deposits to your account. Check your bank statement in a few days, note the exact amounts of those deposits, and enter them into PayPal to confirm. Once confirmed, your account is linked and ready to use.
Keep your linked bank account active. If your bank closes the account or you remove it from PayPal, any pending transfers will fail and the money will return to your PayPal balance.
When to use instant transfer instead of standard transfer
Instant transfer costs money but gets your cash to your bank account in about 30 minutes instead of one to two days. The fee is roughly 1% of the amount transferred, with a minimum of 25 cents and a maximum that varies by account type. For example, transferring $100 would cost about $1, and transferring $1,000 would cost about $10.
Use instant transfer if you need the money urgently — to cover an overdraft, pay a bill that is due today, or handle an emergency. For routine transfers, the free standard method is the better choice. PayPal limits how often you can use instant transfer; check your account to see your current limit.
What happens if a transfer fails or gets stuck
A transfer can fail if your bank account information is wrong, your account is closed, or your bank rejects the deposit for some reason. PayPal will notify you by email if a transfer fails, and the money returns to your PayPal balance automatically — usually within a few business days. You can then try again with corrected information.
If a transfer is pending and you do not see it in your bank account after two business days, log into PayPal and check the transaction history. The status will show whether it is still processing, failed, or completed. If it shows completed but your bank has not received it, contact your bank with the PayPal transaction ID and ask them to investigate. Provide your bank with the exact date and amount so they can search their records.
Do not attempt to transfer the same amount again while the first transfer is still pending. Wait for it to complete or fail before retrying.
Transferring to a different bank account than the one you usually use
You can link multiple bank accounts to PayPal and choose which one to transfer to each time. To add another account, go to Wallet in Settings and select "Link a bank account" again. Follow the same verification process. Once linked, you will see all your accounts listed when you start a transfer and can pick the one you want.
Transfers between accounts at different banks take the standard one to two business days. If you are transferring to an account at the same bank where your primary account is held, some banks process it faster — sometimes same-day — but PayPal's timeline remains one to two business days.
Why PayPal holds money and how long holds last
PayPal sometimes places a hold on your balance, which means you cannot transfer it out until the hold lifts. Holds usually happen when you receive money from a new sender, sell something for the first time, or receive an unusually large payment. PayPal uses holds to reduce fraud risk.
A hold typically lasts 21 days, though it can be shorter if you have a long account history with no problems. You can check whether money is on hold by looking at your balance in the Wallet section — held money appears separately from available money. Once the hold expires, you can transfer it normally.
If you need the money before the hold lifts, you can request an early release in some cases. Go to the transaction in your history, select it, and look for an option to request a hold release. PayPal will review your request, but there is no may provide it will be granted.
Transferring PayPal money if you do not have a bank account
If you do not have a traditional bank account, you can transfer your PayPal balance to a PayPal Cash card or PayPal Cash Plus card. These are prepaid debit cards that PayPal issues. You load money from your PayPal balance onto the card, then use it to make purchases or withdraw cash at ATMs.
To get a PayPal Cash card, go to the Wallet section and select "Get a PayPal Cash card." PayPal will mail the card to your address, which takes about 7 to 10 business days. Once you receive it, activate it in the app and transfer money from your PayPal balance to the card. There is no fee to load money onto the card.
ATM withdrawals with a PayPal Cash card cost $0.95 per withdrawal at most ATMs, though some ATM networks charge less. If you use the card to make purchases instead of withdrawing cash, there is no fee.
Frequently Asked Questions
Can I transfer PayPal money to someone else's bank account?
No. PayPal transfers only go to a bank account linked to your own PayPal account. To send money to another person's bank account, use PayPal's "Send money" feature to transfer directly to their PayPal account, and they can then transfer it to their bank. Alternatively, use a service like Venmo or a direct bank transfer if you have their account details.
What if my bank rejects the PayPal deposit?
Your bank might reject a deposit if the account is closed, frozen, or flagged for fraud. PayPal will notify you, and the money returns to your PayPal balance. Contact your bank to find out why the deposit was rejected, fix the issue, and try again. If the account is closed, link a different account to PayPal.
Do I pay taxes on money I transfer from PayPal to my bank?
Transferring your own money from PayPal to your bank is not a taxable event. However, if the money in PayPal came from selling goods or services, that income may be taxable depending on the amount and your location. PayPal reports large transactions to the IRS, so keep records of what the money was for.
How much money can I transfer at once?
PayPal's transfer limits depend on your account history and type. New accounts have lower limits, which increase over time as you use PayPal. Check your account settings under Wallet to see your current transfer limit. If you hit the limit, you can transfer again after a certain period, usually 24 hours.
Can I cancel a transfer after I have started it?
If the transfer is still pending, you can cancel it in most cases. Go to your transaction history, find the transfer, and look for a cancel option. Once a transfer completes, you cannot cancel it through PayPal — you would need to contact your bank to reverse it, which is difficult and not may provide to work.