How To Withdraw Money From A Bank Account Into A PayPal [Step by Step Guide]

how to withdraw money from bank account into paypal

Money transfer from one platform to are another might seems challenging but it is a very easy process.

Online platforms like Google pay, Cash App, Apple Pay, Patym app, PayPal and many other platforms provide you with a virtual wallet where you can store virtual cash.

The money in these Wallets can be used to pay bills, do online shopping and also make payments online. But this money can still be transfer from one platform like; from PayPal to a linked Bank account or from bank account to PayPal wallet.

In this article, we will be given you a step-by-step guide on how to withdraw money from your bank account into PayPal wallet.

What is PayPal?

PayPal is a multinational financial technology company based in the United States that operates an online payment system in the majority of countries that allow for online money transfers.

PayPal has helped in replacing the used of checks and other traditional paper payment methods.

This platform allows for money transfer within American States and out of America, including countries in Africa like Cameroon. 

With PayPal, you can Add money to your linked bank account or a to a linked eligible credit/debit card. You can also transfer money from your bank account to PayPal wallet. People used this app to make online purchases, transfer money, pay bills and also to receive payments.

For more information about PayPal and its money transfer procedures, click the link below;

How Do I Withdraw Money From My Bank Account To A PayPal?

PayPal is one of the most used digital money transferring service for online businesses. It allows users to linked their debit card, PrePaid card, a bank account.

For you to be able to withdraw money from your bank account into your PayPal wallet, your bank account most be linked to your PayPal app.

To see the various steps and procedure required in linking your bank account to PayPal app, click here.

Steps To Transfer Money from Bank account Into PayPal

After have download the PayPal app and created your account, you will be required to link a bank account, debit card or PrePaid card as a payment method.

To link your bank account, go to the PayPal wallet and click the option which says 'Link a bank account'. PayPal will then request some details such as your bank account name , account number and routing number and Password.

After you have entered the above details, PayPal will verify that this account exists by making a deposit of $0.12 and $0.15. If the transfer is successful, then your account is legitimate.

The following steps are required to withdraw money from a bank account into a PayPal account;

  1. Click on the PayPal icon on your phone screen to open PayPal.
  2. Go to your 'PayPal Wallet' section located at the uppermost corner of your app screen.
  3. Click 'Transfer money' button found on the middle of the screen.
  4. Click 'Add Money to your balance' to add money from your linked bank account to PayPal wallet.
  5. Enter the Amount of money you want to add to your PayPal wallet.
  6.  At this point, PayPal will display all linked bank accounts, credit card, debit card, etc. Select  your bank and enter the amount that you want to transfer, and click 'Add'

How Long Does It Take For Money to Arrive a PayPal wallet From a Bank Account?

Note that your linked bank account must be of the same name as your PayPal account for you to be able to add money.

After you have initiated the transfer, it should occur automatically without any further input on your part. Funds transferred from a linked bank account to a PayPal account usually appear within 3-5 business days.

The money you remove from your linked bank account is verified and processed through the Federal Reserve's ACH (Automated Clearing House) before being released to PayPal.

However there are situations which can affect how quickly money appears in your PayPal account. These include:

  • When the request is sent. If you send the request on a weekend day, you should wait to at least two working days before the money arrives.
  • The time of the day. Requests processed after working hours, will only go through the next day.
  • How much money you want to send. Larger transactions may be personally reviewed by PayPal's customer service team. This may result in a delay.

How To Transfer Money From A Debit Card to A PayPal Account

You can transfer money to PayPal account using your Visa or MasterCard Debit Card or a confirmed bank account.

To transfer money to PayPal wallet from debit card, you need to have a debit card that is linked to your bank account or a PayPal card.

PayPal provides an option for users to link their debit cards. To link a debit card, you will be requested of the following; a 16-digit code, CVV number and your Password. 

After your debit card is accepted and linked to PayPal, you can now make withdrawals and deposits in to PayPal wallet, following the steps below.

  1. Click on the PayPal icon on your phone screen to open PayPal.
  2. Go to your 'PayPal Wallet' section located at the uppermost corner of your app screen.
  3. Click 'Transfer money' button found on the middle of the screen.
  4. click 'Add Money to your balance' to add money to your PayPal wallet.
  5. Select 'From Debit Card'. and enter all details of debit card requested by app.
  6. Enter the Amount of money you want to add to your PayPal wallet.
  7.  Choose ' In seconds with debit card' or if with a bank account , click 'in 3-5days'.
  8. At this point, you will click on 'Add'.

What are the Transfer limits on PayPal?

PayPal implements daily, weekly, and monthly limits on the amounts you can transfer to your bank.

The limits to how much money you can add to your PayPal wallet when using a debit card are:

  • Daily limit is up to $5,000
  • Weekly limit is up to $10,000
  • Monthly limit is up to $20,000

Is It Possible To Cancel a Transfer from my Bank Account to my PayPal Account?

No, you cannot cancel a transfer from your bank account to your PayPal account once it has been authorized.

Once the money is in your PayPal wallet or your PayPal Business account, you can transfer it back to your bank account. Just go to the send money page and follow the steps below 

How Can I Transfer Money From PayPal To A Bank account?

You can transfer money from PayPal to  Bank account using the following steps on the PayPal app. This can be possible if you have that bank account linked to PayPal. See steps below;

  1. Click Go to wallet
  2. Tap on the PayPal balance in the wallet
  3. Click Transfer money. Many transfer options will be display if you have them linked to Your PayPal. Like your bank account or a credit card.
  4. Enter the amount you to transfer.
  5. Click Transfer to your bank at the bottom of the screen.
  6. If you want to do an  instant payment to your bank account, select In minutes and the money will be added to your bank account within minutes. But for Standard payments, select in 1-3days. There is no fees applied for standard payment since it will take days for the transfer to be  approved.
  7. Fellow instructions, review the transfer details you have entered. This is the information to be checked: the amount you are transferring to your account,  the charged fees, the final amount to reach your account, the eligible bank that you are sending your money to.
  8. Click Transfer Now.

How Do I Transfer Money PayPal to my Mobile money account?

It is important to note that PayPal is one of the best payment methods in the world and it is recognize worldwide. for this reason, you can use PayPal to make purchases on almost 99% of the websites and Stores.

To transfer money from PayPal to a mobile money account, which could take about three days before the money move in to your mobile money account, follow the steps below;

  1. Go to your PayPal account
  2. Click on 'Transfer Money'
  3. Select ' From PayPal ' and then to 'Card' using the last digits of your card to identify it.
  4. Enter amount you want to withdraw into your mobile money account and confirm the transfer.
  5. The money will be withdrawn in to your credit card.
  6. You can then use the mobile banking short code of your bank to forward the money to your mobile money account.
  7. Select the 'Send Money' option after entering the shortcode of your bank 
  8. Choose the network you will like to send to and at this point, use the bank as a source of the money.
  9. Enter the mobile money number of the recipient. 
  10. Enter the amount of money you will like to transfer and the currency and then click 'Send

See also: 

Final Thought on How To Transfer Money To PayPal Wallet From Bank Account 

PayPal app is an American online financial platform that allow its users to make both national and international business transactions and money transfers at a faster but cheaper rate, when compared to other traditional methods like banks.

To be able to withdraw money from your bank account into your PayPal, make sure that your bank account has sufficient funds. Money in your PayPal can permit you to shop online, pay bills and purchase goods and services without any delays.

You can add money to PayPal wallet using either your linked bank or debit card, following the steps above. There are also conditions that can hinder you from transferring money to PayPal.