This wikiHow teaches you how to transfer money from your PayPal account to your bank account, and how to send money from your bank account to specific contacts via PayPal. To use PayPal services, you must first create a PayPal account.
Step
Method 1 of 4: Transferring Money to Bank Account Via Mobile or Tablet
Step 1. Open PayPal
This app is marked by a blue icon with a white “P” on it.
Step 2. Touch Log In
It's in the lower-left corner of the screen.
Step 3. Type in the account email address and password
If the PayPal app accepts Touch ID, you can scan your fingerprint to open PayPal.
Step 4. Touch Log In
After that, you will be taken to the PayPal account page.
If you're using Touch ID, skip this step
Step 5. Touch Manage Balance
It's at the top of the screen. You can see your available PayPal balance in this segment.
Step 6. Touch Transfer to Bank
It's in the lower-right corner of the screen.
You cannot transfer your PayPal balance to your bank account if your available balance is less than one United States dollar
Step 7. Type in the amount you want to withdraw to your account
You must make a withdrawal with a minimum nominal of one United States dollar.
Step 8. Touch Next
It's at the bottom of the screen.
Step 9. Touch Withdraw
This option is at the bottom of the screen. The balance will be credited to your account the next day if you make a withdrawal before 7pm Eastern Standard Time (EST) on a business day (not a holiday).
Method 2 of 4: Transferring Money to Bank Account Via Computer
Step 1. Visit the PayPal webpage
You need to log into your PayPal account to proceed to the next step.
Step 2. Click Log In
It's in the top-right corner of the page.
Step 3. Type in the account email address and password
Enter this information in the fields in the middle of the page.
Step 4. Click Log In
It's below the password field on the page. As long as the password and email address match, you can log into your PayPal account.
Step 5. Click My PayPal
This link is in the top-right corner of the page.
Step 6. Click Transfer to your bank
This link is on the left side of the page, just below the " PayPal Balance " window.
Step 7. Type in the amount you want to withdraw
You must withdraw a balance of at least one United States dollar.
Step 8. Click Continue
It's at the bottom of the page.
Step 9. Click Transfer
After that, the balance will be sent to the bank account. As long as the withdrawal is made before 7pm Eastern Standard Time (EST) on a business day, the balance will usually be credited to the account the next day.
Method 3 of 4: Sending Money to Friends Via Phone or Tablet
Step 1. Open PayPal
This app is marked by a blue icon with a white “P” on it.
Step 2. Touch Log In
It's in the lower-left corner of the screen.
Step 3. Type in the account email address and password
If the PayPal app accepts Touch ID, you can scan your fingerprint to open PayPal.
Step 4. Touch Log In
After that, you will be taken to the PayPal account page.
If you're using Touch ID, skip this step
Step 5. Touch Send Money
It's in the middle-left side of the screen, just below the "Send and Request" heading.
Money sent from PayPal will be withdrawn from your bank account if you do not have a balance in your PayPal account
Step 6. Type in the recipient's email address or contact phone number
Enter this information at the top of the screen.
-
If you've never sent money via PayPal before, tap the “ Let's get started!
” at the bottom of the screen first.
- A list of contacts will also be displayed below the search bar so you can directly tap on the contact's name instead of having to search for it manually.
Step 7. Touch the contact name
The name will be displayed below the search bar.
Step 8. Touch the payment option
You have two options:
- ” Friends and Family ” – Personal payment. PayPal will not charge the recipient.
- “ Goods and Services ” – Business related payments. PayPal charges a fee of 2.9 percent of the amount you send, plus an additional 30 cents to the recipient of the money.
Step 9. Type in the amount of money you want to send
There are no dot or decimal buttons on the PayPal keyboard so you need to add two extra zeros at the end of the amount you want to withdraw/submit.
Step 10. Touch Next
This option is at the bottom of the screen.
Step 11. Touch Send now
It's at the bottom of the screen. The recipient will receive a notification indicating that you have transferred the money, a few minutes after you made the transfer.
- You can review the source of the remittance (eg bank account or PayPal account) at the bottom of the page.
- If you want to add a note to the payment, touch the option “ Add a note ” at the top of the screen and type a message, then touch “ Done ”.
Method 4 of 4: Sending Money to Friends Via Computer
Step 1. Visit the PayPal webpage
You will need to be signed in to your PayPal account before you can proceed to the next step.
Step 2. Click Log In
It's in the top-right corner of the page.
Step 3. Type in the account email address and password
Enter both of these information in the fields in the middle of the page.
Step 4. Click Log In
It's below the password field on the page. As long as the password and email address entered match, you will be able to log into your account.
Step 5. Click My PayPal
This link is in the top-right corner of the page.
Step 6. Click Pay or send money
It's at the top of the screen, just below the magnifying glass icon.
Step 7. Click the payment type
You have two options displayed at the top of the page:
- ” Pay for goods or services ” - Business related payments. PayPal charges a fee of 2.9 percent of the amount you send, plus an additional 30 cents to the recipient of the money.
- “ Send money to friends and family ” - Personal payment. PayPal will not charge the recipient.
Step 8. Type in the recipient's email address, phone number, or name
Enter the information in the search bar at the top of the page.
You can also click on a contact's name if it appears at the bottom of the search bar
Step 9. Click Next
This button is to the right of the text field previously filled with the recipient's name.
If you clicked on a contact's name, skip this step
Step 10. Type in the amount of money you want to send
If you send money in an amount greater than your PayPal balance, your account will not be overdrawn. The difference or remaining between the nominal you want to send and your PayPal balance will be withdrawn from your bank account.
You can also click “ Add a note ” to add a note.
Step 11. Click Continue
It's at the bottom of the page.
Step 12. Click Send Money Now
It's at the bottom of the page. After that, the money with the specified amount will be sent to the selected recipient.
