PayPal is a service that allows people to pay and receive money online the way they prefer, these can be through credit cards, bank accounts, among others.
Do you have money in PayPal and would like to pass it to your bank account? This is perfectly possible, although in order to do so you need to perform a verification process that usually takes a few days to associate your bank account with the online service account.
To do this process of connecting your bank account with the PayPal account, the first thing you need to do is log in to your account from your favorite browser and once inside, select the My wallet option. Once inside click on Link bank account on the left side and on the new screen you will see enter the IBAN number of your bank account and press Accept and link.
Follow the below steps to transfer money from your PayPal account to Bank account.
- First of all open your browser eg. Firefox, Google Chrome or Internet Explorer.
- Now you have to open your Email account which you have used to receive money from PayPal.
- Click on the link Get the Details
- Now login your Paypal account by using the Email id and Password
- To send money from Paypal account to your bank account click on My Paypal.
- Here you have to click on Withdraw money option.
- Now you are at Withdrawal page.
- Here you have to select the bank account in which you have to send money.
- If you have added multiple bank accounts then, you will see list of bank account and have to select any one out of this list.
- If you have added only one bank account, then the money will be transferred automatically to that bank account through Paypal.
- After selecting the bank, enter the amount you want to send to that bank.
- After selecting the bank and entering the payment, click on Continue.
- Paypal gives you an opportunity to verify all details once. So do crosscheck everything and if everything is right, then click on the submit button.
- Now you will receive message from Paypal that, the payment will be transferred within 5 to 7 working days.
- You will also receive mail from Paypal that “We’re transferring money from PayPal to your bank.”
Keep in mind that the bank may charge some fees or commission for receiving PayPal funds and once the withdrawal is initiated, it can’t be canceled.