PayPal is a popular online payment service that allows users to send and receive money online. It is a convenient way to pay for goods and services, and it can also be used to transfer money between friends and family.
If you have a PayPal account, you can easily send money to your bank account. Here are few steps you need to follow to withdraw funds from PayPal to your bank account.
7 Steps To Send Money From PayPal To Bank Account
- Log in to your PayPal account
- Click on the “Wallet” tab
- Click on the “Transfer Money” button
- Select the “Transfer to your bank” option
- Enter the amount of money you want to transfer
- Enter your bank account information
- Click on the “Submit” button
Once you have submitted the request, PayPal will process the transfer. The amount of time it takes for the money to reach your bank account will vary depending on your bank’s policies.
PayPal Fees
PayPal charges a fee for transferring money to a bank account. The fee varies depending on the amount of money you are transferring and the country where your bank is located.
For example, if you are transferring $100 to a bank account in the United States, the fee is $1.99. If you are transferring $1,000 to a bank account in the United States, the fee is $2.99.
Withdrawal Limits
There are also limits on the amount of money you can transfer to your bank account each day. The limits vary depending on your account type and your account history.
For example, if you have a Personal account, you can transfer up to $10,000 per day. If you have a Premier account, you can transfer up to $25,000 per day.
Security in PayPal
PayPal uses a variety of security measures to protect your money when you transfer it to your bank account. These measures include:
- Encrypted data: All of your financial information is encrypted when it is transmitted to PayPal’s servers.
- Two-factor authentication: You can enable two-factor authentication to add an extra layer of security to your account.
- Fraud protection: PayPal has a team of fraud experts who work to protect your money from fraud.
Final Words
Sending money from PayPal to your bank account is a quick and easy way to get your money. There are a few things to keep in mind, such as the fees and limits, but overall it is a safe and secure way to transfer money.
Here are some additional tips for sending money from PayPal to your bank account:
- Make sure you have enough money in your PayPal account to cover the transfer fee.
- Double-check the amount of money you are transferring before you submit the request.
- Keep track of your transfers so you know when to expect the money to arrive in your bank account.
If you have any questions about sending money from PayPal to your bank account, you can contact PayPal customer support.
Read Also:
- How To Send Money on PayPal?
- Tips on How To Send Money With Western Union?
- 15 Best Ways to Send Money in 2023
Author Bio: Adil is a founder and partner at oBookkeeping, a firm that provides virtual bookkeeping services. He regularly writes on business related topics.
