The fastest way to get PayPal money into your bank account

You can transfer money from PayPal to your linked bank account in one of three ways: a standard transfer (1–3 business days), an instant transfer (minutes, with a fee), or by withdrawing cash at an ATM if you have a PayPal Cash or Cash Plus account. The method you choose depends on how quickly you need the money and whether you want to pay a fee.

Before you can transfer anything, you must link a bank account to your PayPal account and verify it. PayPal will deposit two small amounts (usually under $1 each) into that account, and you'll need to confirm the exact amounts in your PayPal settings to prove you own the account. This verification happens once and takes a few days.

Once your bank account is verified, you can transfer money whenever you want—there's no limit on how many transfers you make, though PayPal does set a maximum amount per transfer that varies by account age and history.

Key Takeaways

  • Standard transfers take 1–3 business days and cost nothing; instant transfers arrive in minutes but charge a percentage fee (usually 1–2% depending on your account type).
  • You must link and verify a bank account before any transfer can happen, which requires confirming two small test deposits PayPal sends to that account.
  • PayPal Cash and Cash Plus account holders can withdraw money at ATMs without transferring to a bank account first.
  • If your transfer fails or is delayed, check that your bank account information is correct and that your PayPal account is in good standing (no holds or disputes).

How to link and verify your bank account

Go to your PayPal account settings and select Wallet or Banks and Cards (the exact name varies by device and region). Choose Link a Bank Account and enter your routing number and account number. You can find both on a check, your bank's website, or by calling your bank.

PayPal will then send two small deposits to that account—usually $0.01 and $0.02, or similar amounts. This takes 1–2 business days. Once they arrive, go back to PayPal, select the bank account you just linked, and enter the exact amounts of those two deposits. PayPal will confirm the account is yours and mark it as verified.

You only have to do this once per bank account. After verification, you can transfer money to that account immediately whenever you want.

Standard transfers vs. instant transfers

Standard transfers are free and take 1–3 business days. The money lands in your bank account by the end of the third business day, though it often arrives sooner. Use this method if you're not in a rush and want to avoid fees.

Instant transfers move money to your bank account in minutes, but PayPal charges a fee of 1–2% of the amount you transfer (the exact percentage depends on whether you have a PayPal Cash account, a regular PayPal account, or a business account). For example, transferring $100 with an instant transfer might cost $1–$2. You see the fee before you confirm the transfer, so you know the exact cost.

Not all bank accounts may have access to for instant transfers. If your bank is on PayPal's list of supported institutions, you'll see the instant transfer option when you go to transfer money. If you don't see it, your bank may not be included yet, or your account may not have been active long enough.

Steps to transfer money to your bank account

Open your PayPal account and go to Wallet. You'll see your PayPal balance at the top. Click Transfer Money or the button that says Move Money (wording varies by device).

Select Transfer to Your Bank. Enter the amount you want to move. PayPal will show you the available options: standard transfer (free, 1–3 days) or instant transfer (fee, minutes). Choose which one you want and review the fee if you pick instant.

Confirm the bank account where the money should land. Make sure it's the correct account—once you confirm, the transfer starts and you cannot cancel it. Click Transfer Now or Confirm. You'll get a confirmation number and a receipt in your PayPal activity.

For standard transfers, check your bank account 1–3 business days later. For instant transfers, the money should appear within minutes, though in rare cases it can take up to an hour.

What to do if your transfer fails or is delayed

If a transfer doesn't arrive after the promised time, log into PayPal and check the transaction history. Look for the transfer in your Activity or Recent Transactions section. The status will show whether it's pending, completed, or failed.

If the status says failed, the most common reasons are: the bank account information is wrong, the account has been closed, there's a hold on your PayPal account, or your bank rejected the transfer. Check that your routing number and account number are correct in your PayPal wallet settings. If they're wrong, delete the account and re-link it with the correct information.

If your bank account is correct and the transfer still fails, contact your bank directly. Tell them you're trying to receive a transfer from PayPal and ask whether they've rejected it or if there's a hold on your account. Some banks flag transfers from payment apps as suspicious and block them temporarily.

If your PayPal account has a hold or limitation, you won't be able to transfer money out until it's lifted. PayPal will tell you why in your account settings. This usually happens after a dispute, a chargeback, or unusual activity. You may need to resolve the underlying issue before transfers work again.

Withdrawing cash from an ATM instead

If you have a PayPal Cash or PayPal Cash Plus account (not a regular PayPal account), you can withdraw money directly from any ATM that accepts Mastercard. You don't need to transfer to a bank account first.

To do this, you need a PayPal Cash Card, which is a debit card linked to your PayPal balance. Once you have the card, you can use it at any ATM. The card works like a regular debit card, and ATM withdrawals count as a way to access your money without waiting for a bank transfer.

PayPal Cash Plus accounts may charge a monthly fee (usually $2–$4.50 depending on the plan), but they offer features like direct deposit and bill pay. PayPal Cash accounts are free but have lower ATM withdrawal limits. Check which account type you have in your PayPal settings under Account Type.

Transfer limits and holds on your account

PayPal sets a maximum amount you can transfer per transaction, which varies based on your account age, history, and whether you've verified your identity. New accounts typically have lower limits—sometimes $500 or $1,000 per transfer. As your account ages and you complete more transactions, the limit usually increases.

You can check your transfer limit by going to your PayPal settings and looking for Transfer Limits or Account Limits. If you need to transfer more than your limit allows, you can make multiple transfers on different days, or you can contact PayPal to ask whether your limit can be raised.

If PayPal places a hold on your account—often after a dispute or unusual activity—you won't be able to transfer money until the hold is lifted. Holds typically last 180 days, though they can be shorter. PayPal will explain why the hold is in place and when it will be removed.

Frequently Asked Questions

How long does a standard transfer actually take?

PayPal says 1–3 business days, and most transfers arrive within that window. Weekends and bank holidays don't count as business days, so a transfer initiated on Friday may not land until Tuesday. Your bank's processing speed also matters—some banks post transfers faster than others.

Can I transfer money to someone else's bank account?

No. PayPal only lets you transfer money to a bank account that's linked to your own PayPal account. To send money to someone else, use PayPal's Send Money feature, which lets you transfer to their PayPal account or email address. They can then transfer it to their own bank account.

What if I linked the wrong bank account?

Go to your PayPal wallet settings, find the incorrect account, and click Remove or Delete. Then link the correct account and wait for the verification deposits to arrive. You don't need to start over—just add the right account and verify it the same way.

Do I pay taxes on money I transfer from PayPal to my bank?

Transferring money you already earned doesn't create a new tax event—you already owe taxes on the income when you received it in PayPal. However, if PayPal reports your transactions to the IRS (which happens if you receive over $20,000 and 200 transactions in a year, or meet other thresholds), you'll receive a Form 1099-K. Consult a tax professional about your specific situation.

Why is my instant transfer taking longer than a few minutes?

Instant transfers usually arrive within minutes, but can take up to an hour in rare cases. If it's been longer, check your PayPal activity to confirm the transfer went through. If the status shows completed but the money hasn't arrived, contact your bank—they may be processing it on their end or flagging it for review.