Paypal is one of the apps you can use to transfer money from one account to the other. Most people use it to manage invoices or pay for items they bought with a debit card. Having funds in your bank account makes it easier to link your PayPal account with your bank account. In this article, we will look at PayPal transfer as one of the best ways to transfer money. But you can transfer money from your Paypal account, you need to link the account with your bank account or your bank card.
Paypal transfer as one of the best ways to transfer money requires you to transfer a dollar to your bank account before you will be able to make further transfers. Any transfer made after 7 PM ET will always take a longer time to get to the destination bank or account.
How To Use Paypal Transfer As One Of The Best Ways To Transfer Money
The following are the ways you can use Paypal to make transfers
PayPal Transfer To Bank Using Desktop
You can use Paypal as one of the best ways to transfer money to a bank using a desktop. The following are the few steps to transfer your PayPal balance to your bank account.
- On a web browser of your choice, open the PayPal app and log into your account.
- The click on transfer money button and enter the amount of money you want to transfer to your bank.
- Lastly, click on transfer and select the bank account you want to transfer the money to.
- After the above steps, The money will automatically be transferred to your bank account within a few days.
PayPal Transfer To Bank Account Using Mobile App
This is where PayPal transfer as one of the best ways to transfer money can be done using any mobile device of your choice. It works best with iOS and Android devices. Use the steps below:
- On any web browser of your choice, open the PayPal app. The App has a white P with a blue background icon.
- Log into your PayPal account.
- Click on the manage balance button that is close to the top of the screen.
- Click on transfer money. Note that this option is not always visible to people that have less than one dollar as their account balance. Select the bank you will want to withdraw the money to.
- Enter the amount you want to withdraw and the minimum limit is a dollar.
- Click on NEXT.
- The last step is to click on transfer to complete your transaction process.
- It is done but the transfer usually takes up to five business days to get to the destination bank or account.
Steps To Do PayPal To PayPal Transfer
Once you have a Paypal account, you will have the privilege to make transfers between accounts without the normal transfer charges. Follow the steps here:
- Go to any web browser of your choice and log in to your PayPal account.
- Select the send money button.
- Type in the email address of the PayPal account you want to transfer the money.
- Enter the amount you want to send across.
- Click on the button with the “I am sending money to family or friends” option.
- Click CONTINUE, to review the transaction details you have entered.
- Click on send money to complete the transfer. After following the above steps, PayPal will send a notification to the recipients via email about the money sent to them. If the person does not have a PayPal account, a link will be sent to him/her for him to open a PayPal account instantly.
What Is PayPal Transfer Time
Transferring funds from one PayPal account to the other is always instantly received by the recipient. PayPal transfer as one of the best ways to transfer money has made it easy to even transfer money within a PayPal account and to other banks. But when you think of transferring money from a Paypal account to another bank account, it usually takes between three to five (3-5) working days. If the transactions happen during weekends or holidays, it affects the time the money will be deposited into the bank account. Also PayPal transfers may take longer to get to the account depending on the bank you are using. Some banks are fast while some are not.
How To Transfer Money To Your Bank Automatically With PayPal Transfer
For you to transfer money automatically to your bank from your PayPal account, you must first enable the Auto sweep feature. Use the steps below:
- Go to any browser and log into your PayPal account.
- Click on your profile in the top right corner of your page.
- In the profile, you will see a drop-down, then click on the profile and settings
- Another page will appear, then click on my money and in the section of PayPal balance hover the mouse on more.
- Click on an auto sweep and select edit.
- Click on edit and then click on yes.
- Select the bank you want the money to be transferred to and click on the save button to save.
In case you don’t see the option to enable auto sweep, contact PayPal support to get help on how to set it up.