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 your account number, which you can find on a blank check or by logging into your bank's website.
PayPal does not automatically transfer money from your old account to your new one. If you have funds sitting in your PayPal balance, they stay there until you withdraw them. The new bank account you add becomes the destination for future withdrawals, refunds, and direct deposits if you use PayPal for work payments.
Key Takeaways
- Log into PayPal, go to Wallet, select your bank account, and choose Edit to update your routing and account numbers.
- PayPal will verify your new account by depositing two small amounts (usually under $1 each) within one to two business days.
- You must confirm those deposits by entering the amounts back into PayPal before you can withdraw money to the new account.
- Your old bank account remains linked until you delete it, so you can keep both active if you need to.
- Changing your account does not move money already in your PayPal balance — you must withdraw it separately.
Step-by-step: adding and verifying a new bank account
Start by logging into your PayPal account on a computer or the mobile app. Click on your profile icon in the top right corner, then select Wallet. You will see a list of payment methods. If you already have a bank account linked, you can click on it and select Edit to change the details. If you want to add a new account instead of replacing the old one, click Link a bank account.
Enter your bank's name, your account type (checking or savings), your routing number, and your account number. PayPal will ask you to confirm the account holder's name and address. Once you submit this information, PayPal sends two small deposits to your bank account — usually between $0.01 and $0.99 each. These deposits arrive within one to two business days, depending on your bank's processing speed.
Check your bank statement or online banking portal for these two deposits. They will appear as small charges from PayPal with a reference code. Log back into PayPal, go to your bank account settings, and select Confirm or Verify. Enter the two amounts you saw in your bank account. Once PayPal confirms the amounts match, your account is verified and ready to use.
What happens to your old bank account
Your previous bank account does not automatically disappear when you add a new one. It stays linked to your PayPal account until you manually remove it. This means you can keep both accounts active if you want — for example, if you are switching banks but want to maintain access to your old account temporarily.
To delete your old account, go to Wallet, click on the account you want to remove, and select Remove or Delete. PayPal will ask you to confirm. You cannot delete an account if there are pending transactions tied to it, so wait until any transfers are complete. Once deleted, you cannot use that account for withdrawals or refunds, but you can add it back later if needed.
Withdrawing money from your PayPal balance after switching accounts
Money sitting in your PayPal balance does not move automatically when you change your bank account. If you have $50 in your PayPal account and you add a new bank account, that $50 stays in PayPal until you withdraw it. You can withdraw to your new account once it is verified.
To withdraw, go to Wallet, click Transfer Money, and select Transfer to your bank. Choose your new bank account from the dropdown menu. Enter the amount you want to withdraw and confirm. The money typically arrives in your bank account within one to three business days, depending on your bank. Some banks process PayPal transfers faster than others, so check with your bank if you are unsure of their timeline.
Timing and what to expect during verification
The verification process usually takes two to four business days from the time you enter your new account information. PayPal sends the two test deposits within one to two business days, and you need to confirm them within 30 days. If you do not confirm within that window, you will need to start the verification process over.
If your bank is slow to post deposits, check your account a few days after you submit your information. Some banks hold small deposits for an extra day or two before they show up in your statement. Once you see both deposits, log into PayPal immediately and enter the amounts to complete verification. You do not need to wait for both deposits to arrive before confirming — as soon as you see them in your bank account, you can verify.
Troubleshooting: what to do if verification fails
If you enter the deposit amounts incorrectly, PayPal will reject your confirmation and ask you to try again. Check your bank statement carefully — the amounts are usually very small and easy to misread. You get three attempts to enter the correct amounts. If all three fail, you will need to remove the account and start the verification process over.
If the test deposits never arrive in your bank account after four business days, contact your bank first. Ask them to check if the deposits are pending or if they were rejected. Some banks flag small deposits as suspicious and hold them. If your bank confirms they never received the deposits, go back to PayPal, remove the account, and add it again. Make sure your routing number and account number are correct — even one digit wrong will cause the deposits to fail.
If you see the deposits but PayPal says your account is not verified, log out of PayPal completely, clear your browser cache, and log back in. Sometimes the system needs a refresh to recognize the verification. If that does not work, contact PayPal's support team through the Help Center and provide them with your bank statement showing the deposits.
Using your new account for different types of payments
Once your new bank account is verified, it becomes your default destination for withdrawals. Any money you transfer from PayPal to your bank will go to this account. If you receive refunds from sellers or money back from disputes, PayPal will send those refunds to your new account as well.
If you use PayPal for work — such as receiving payments from clients or selling items — you can set up direct deposits to your new account. Go to your account settings, find Direct Deposit or Payouts, and enter your new bank details. This is separate from your withdrawal account, so you can have direct deposits go to one account and manual withdrawals go to another if you need to.
Frequently Asked Questions
Can I change my bank account if I have a pending withdrawal?
You can add a new account at any time, but any withdrawal already in progress will go to your old account. Wait for the transfer to complete before you delete your old account. Once the transfer lands in your old bank, you can safely remove it and use only your new account going forward.
What if I enter the wrong routing or account number?
PayPal will send the test deposits to the account number you provided. If it is wrong, the deposits will go to someone else's account or be rejected by the bank. Remove the account from PayPal and add it again with the correct information. You can find your correct routing and account numbers on a check or in your bank's online portal under account details.
How long does it take to withdraw money to my new bank account?
Once your account is verified, withdrawals typically take one to three business days. Some banks process faster than others. If your withdrawal does not arrive within three business days, contact your bank to confirm they received it. PayPal shows a confirmation number for every transfer, so you can give that to your bank if they need to investigate.
Can I have two bank accounts linked to PayPal at the same time?
Yes. You can keep your old account linked while you add and verify a new one. Only one account can be your default for withdrawals, but you can manually choose which account to use each time you transfer money. Delete your old account only when you are sure you no longer need it.
What happens to my PayPal balance when I change banks?
Your PayPal balance stays in your PayPal account and does not move to your bank automatically. You must manually withdraw it to your new bank account after verification is complete. The balance sits in PayPal until you transfer it out.