Ecommerce Q & ACategory: PayPalHow to transfer PayPal money into a bank account?
Curious Guy Staff asked 4 months ago

How to set up and link PayPal to my bank account and receive the PayPal money directly into my account?

1 Answers
digitalsunilsah Staff answered 4 months ago

Normally, Paypal’s default procedure is that whatever amount you get by the end of the day is sent to your bank account linked to your PayPal account the next day.
To link your bank account with PayPal, follow these simple steps:

  • At the top of the page, select Wallet (on a mobile device, select Menu, then Wallet).
  • Select a bank account to link.
  • Choose your bank or scroll down to the bottom and click I have a different bank.
  • You may be able to link your bank instantaneously using your online banking login information, depending on the bank you choose. If the quick option isn’t available, manually enter your bank account information before clicking Agree and Link.

PayPal Cards and Bank Link

Option 1: Instantly link a bank account
You’ll need to enter your online banking user ID and password to link your bank account instantly. PayPal will cross-check this information with your bank to make sure you’re the rightful owner of the account. Your bank account will be quickly validated if this information is entered correctly.

Option 2: Manually link and confirm a bank account
If you manually enter your bank account number, you will be asked to validate your bank account. Before you may use your bank account to make payments or add money to your PayPal account, you must complete this step.

  • Examine your bank statement in 2 to 3 business days for two minor deposits (each between $0.01 and $0.99 USD) that PayPal made to your account. You can also get the exact amounts of these deposits by contacting your bank. You can complete the confirmation procedure online or follow the steps below with this information:
  1. At the top of the page, select Wallet.
  2. To confirm a bank, select it from the drop-down menu.
  3. Enter the amounts of the two deposits made to your account exactly. If you receive two deposits of $.05 and $.15, for example, enter.05 and.15 on the screen.
  4. Submit the form.

Please Note: Some banks combine the two little deposits into a single large deposit. If you only get a single modest deposit, please contact the PayPal team to confirm your bank or to attempt to link your bank immediately.
The tiny deposits are just for a short time and will be deducted from your account. If the deposits are $.05 and $.15, your bank statement will also show a $.20 PayPal debit.
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