How to change your linked bank account on PayPal

You can change the bank account connected to your PayPal account at any time through your account settings. The process takes about five minutes and does not affect your PayPal balance or any pending transactions. You will need your new bank's routing number and account number, and PayPal will verify the new account before you can withdraw money to it.

PayPal keeps your old bank account on file for a short period after you add a new one, so any automatic transfers already scheduled will still go through unless you cancel them. If you are switching banks because your old account is closing, contact your bank to confirm the closing date and make sure you change your PayPal account before that happens.

Key Takeaways

  • Log into PayPal, go to Wallet, select your bank account, and choose Edit to change the routing or account number.
  • You can add a new bank account without removing the old one, then set the new account as your primary withdrawal destination.
  • PayPal verifies new bank accounts by depositing two small amounts (usually under $0.10 each) that you must confirm within 30 days.
  • Scheduled transfers to your old account will still process unless you cancel them manually before the transfer date.
  • If you remove a bank account while a transfer is pending to it, the transfer will fail and the money returns to your PayPal balance.

Step-by-step: adding and switching to a new bank account

Start by logging into your PayPal account on a computer or the PayPal app. On a computer, click Wallet in the top menu, then look for the Link a bank account option or the + icon next to your existing bank account. On the app, tap the menu icon (three horizontal lines), select Wallet, then tap Link a bank account.

Enter your new bank's routing number and your account number. PayPal will ask whether the account is checking or savings. Select the correct type — this matters because some banks process transfers differently depending on account type. Then enter the account holder's name as it appears on the bank statement.

PayPal will show you a summary of the information you entered. Review it carefully, because entering the wrong routing or account number means the verification deposits will go to the wrong bank, and you will have to start over. Click Link Bank Account to proceed.

Within one to two business days, PayPal will deposit two small amounts (usually between $0.01 and $0.10 each) into your new account. Check your bank statement for these deposits and note the exact amounts. Return to PayPal, go to Wallet, find your new bank account, and click Confirm. Enter the two deposit amounts when prompted. Once confirmed, your new account is active and you can withdraw money to it.

Setting a new bank account as your primary withdrawal destination

If you have multiple bank accounts linked to PayPal, you can choose which one receives your money by default. Go to Wallet, find the bank account you want to use, and look for a Make Primary or Set as Default option. This is the account PayPal will use if you request a withdrawal without specifying which account to send it to.

Setting a new account as primary does not automatically cancel transfers scheduled to your old account. If you have a transfer pending to your old bank account, it will still go through on the scheduled date. You must cancel it manually if you do not want the money to go there.

What happens to scheduled transfers when you change accounts

If you have set up automatic transfers from PayPal to your old bank account on a recurring schedule, those transfers will continue until you stop them. PayPal does not automatically redirect them to your new account. Log into PayPal, go to Wallet, find the scheduled transfer, and click Cancel if you want to stop it.

One-time transfers that have not yet processed will also go to your old account unless you cancel them. If you remove your old bank account from PayPal before a scheduled transfer completes, the transfer will fail. The money will return to your PayPal balance within three to five business days, and you can then transfer it to your new account.

If a transfer fails because the account no longer exists, PayPal will send you a notification. Check your email for details about what happened and whether you need to take action. In most cases, the money is already back in your PayPal balance and you can initiate a new transfer to your new bank account.

Removing your old bank account safely

You can remove an old bank account from PayPal at any time, but do it only after you have confirmed that your new account is working. Make one small test transfer to your new account first — this takes one to three business days depending on your bank. Once that transfer arrives, you know the account details are correct.

To remove an account, go to Wallet, click on the old bank account, and select Remove or Delete. PayPal will ask you to confirm. After you remove it, you cannot use that account for future transfers, but PayPal keeps a record of it for your own reference.

If you remove an account by mistake, you can add it back by going through the linking process again. You will have to wait for the verification deposits and confirm them, so it takes a few days to restore access.

Verification deposits and confirming your new account

PayPal verifies new bank accounts by sending two small deposits. These are real money — you keep them — but they serve as proof that you own the account. You must confirm the amounts within 30 days or PayPal will not let you withdraw to that account.

The deposits usually arrive within one to two business days, but can take up to five depending on your bank. Check your bank statement carefully, because the amounts are small and easy to miss. PayPal will show you a Confirm button in your Wallet once the deposits have posted. Click it and enter the two amounts exactly as they appear on your statement.

If you cannot find the deposits after five business days, contact your bank to confirm they received them. If your bank rejected them, PayPal will try again automatically. If 30 days pass without confirmation, PayPal will lock the account and you will have to add it again from the start.

Troubleshooting common problems when changing bank accounts

The verification deposits did not arrive. Wait up to five business days — some banks are slower than others. If they still have not arrived, check that you entered the routing number correctly. You can verify your bank's routing number on your bank's website or by calling customer service. If the routing number was wrong, remove the account and add it again with the correct number.

You entered the wrong account number. Remove the account from PayPal and add it again with the correct number. You will have to wait for new verification deposits and confirm them. This usually takes three to five business days total.

A transfer failed to your new account. Check your bank account to see if the money arrived anyway — sometimes PayPal's status lags behind actual processing. If it did not arrive after three business days, contact your bank with the transfer details (date, amount, and PayPal's reference number, which you can find in your transaction history). Your bank can trace the transfer and tell you where it went. If the money is lost, contact PayPal Support with your bank's findings.

You cannot remove your old account. This usually means a transfer is still pending to it. Cancel the pending transfer first, then try removing the account again. If you still cannot remove it after 24 hours, contact PayPal Support.

Frequently Asked Questions

Can I have multiple bank accounts linked to PayPal at the same time?

Yes. You can link as many bank accounts as you want, but you can only set one as your primary withdrawal destination. When you request a withdrawal without specifying which account, the money goes to your primary account. You can change which account is primary at any time.

How long does it take to withdraw money to my new bank account after I change it?

Transfers to a newly verified bank account take one to three business days, the same as transfers to any other account. The speed depends on your bank, not PayPal. Some banks credit transfers the next business day; others take the full three days.

What if my bank account information changes but I keep the same bank?

If your bank issued you a new account number (for example, after closing and reopening an account), you need to update it in PayPal. Go to Wallet, click on the account, select Edit, and enter the new account number. You will have to confirm the verification deposits again.

Can I change my bank account if I have a pending dispute or claim?

Yes, but PayPal may hold any refund or settlement money in your account until the dispute is resolved. Once it is resolved, you can withdraw to your new bank account. If you change your account before the dispute closes, make sure your new account is verified so the money can be transferred when the time comes.

What happens to my PayPal balance when I change my bank account?

Your PayPal balance stays in your PayPal account and is not affected by changing your bank account. The bank account is only used when you request a withdrawal. Your balance remains available for sending money to other PayPal users or making purchases through PayPal.