How to Transfer Money from PayPal to Bank – As the technology advances,
now we can do many things online,
including transferring funds. It is a commonly done procedure in our daily lives.
If you are a PayPal user,
you may wonder whether it can help you to transfer funds from your PayPal account to a bank account.
Find out the answer and procedure of how to transfer money from PayPal to bank account.
How to Transfer Money from PayPal to Bank Account
It is not difficult to transfer money from your PayPal to your own bank account.
In order to do that, here is what you need to do:
- First, make sure you are logged in to your PayPal account.
- If you haven’t logged in since, go to http://paypal.com.
- Enter your registered email and password to log in.
- Once you arrived in the PayPal homepage, then go to the ‘Wallet’ tab.
- The link can be found on the top side of the page.
- Choose Transfer Funds then select the bank account you want to send the funds to.
- Input the amount of funds you’d like to transfer.
- Confirm your transfer process by clicking ‘Confirm’, then ‘Done’.
Read more: How to Cancel a PayPal Payment – Inspira Building
The procedure above will be applicable,
if you are transferring funds from your PayPal account to your own bank account.
what if someone you know wants you to transfer the funds to their bank account?
the aforementioned transferring procedure,
which answers the question ‘how to transfer money from PayPal to bank?’
cannot be applied to this situation.
It means that transferring from PayPal to someone’s bank account cannot be done.
Then, what should you do?
Here are some tips you can do to fix the solution.
- Transferring through PayPal.
- In order to do this, the receiver must create a PayPal account.
- Once the receiver owns their PayPal account, the transfer process will be much easier.
- Moreover, receiver can obtain the money directly to their bank, although there are fees that may subtract the amount.
- Transfer the money to your bank account with the methods written above.
- Once you got the funds, which usually takes one business day, it’s your responsibility to transfer the fund to their bank account.
This method also takes a fee to withdraw your money,
hence it is better to withdraw larger amount of money to be transferred to your account.
Aside from the PayPal withdrawing fee,
you may consider adding some more if you have to pay additional transfer fee.
It is unfortunate that up to this day,
PayPal does not have a feature to help you transfer from PayPal to someone else’s bank account.
So, it is a bit troublesome to make the receiver creates a PayPal account first,
or withdrawing the money to your account first and then transferring it to the receiver.
As a wrap up, the procedures answering ‘how to transfer money from PayPal to bank?’
can be done only if you are transferring funds to your own bank account.
If the receiver is not a PayPal user and asks you to transfer the funds from PayPal to bank account – unfortunately, transferring isn’t possible to do.