How to Withdraw Money From a PayPal Account
PayPal accounts are used worldwide to receive money from sales or to make online purchases. In addition, PayPal accounts can be used to pay bills and for collecting money from online employment. The funds can easily be withdrawn from your PayPal account and transferred to your bank account, by check or PayPal Debit.
How to Withdraw Money From a PayPal Account
Things You Will Need
- PayPal Account
- A Bank Account
- Bank Routing Information
- Account Information
1. Setting Up A PayPal Account
- Go to the PayPal website.
- Create your account.
- Create passwords.
- Under the Profile tab you can enter all your information address, bank account and email.
Setting Up your Bank Account
- Enter your bank account name under the Profile tab.
- Enter your account number.
- Enter your routing number.
- Once you have entered all of the required information PayPal will verify your account.
- You must wait for the confirmation to process to access your PayPal account.
- Then follow the directions given by PayPal after the confirmation.
Steps To Withdrawing Money
Withdraw to Bank Account
- Sign into your PayPal account and click on the My Account tab.
- Under the Withdraw tab choose the Transfer Funds to Your Bank Account link in the drop down menu.
- Enter the amount of money you want to withdraw.
- Choose which bank account you want it transferred to, if you have more than one account.
- Click on the Submit button.
- This transaction usually takes 3 to 4 business days.
Withdraw by Check
- Sign into your PayPal account and click on the My Account tab.
- Under the Withdraw tab choose the Request A Check link in the drop down menu.
- Enter the amount of money you want to withdraw allowing for the processing fee.
- Confirm that you have the correct address hit the Continue button.
- Wait 1 to 2 weeks to receive your check by mail.
Withdraw Money Using PayPal Debit
- Apply for a PayPal Debit by clicking on the ATM/Debit link.
- Fill out the required information and submit.
- You will receive your card and PIN in about 2 weeks.
- Activate your PayPal Debit card.
- After your card is activated, you can transfer money to your card, by signing into your PayPal account.
- Under the Withdraw tab choose Use Debit Card link in the drop down menu.
- Transfer funds to your PayPal Debit card.
Warnings:
- Try to create a password that only you would know.
- Always make backups of important passwords.
- Backups of passwords can then be saved to a cd or you can print paper copies for safe measures, in case your computer ever crashes.
- Copies can then be stored in a fire proof safety box.
Tips:
- If you are not sure what the routing number is you can contact the bank and they can tell you the information.
- PayPal Debit cards can be used like any debit card in ATM's, to make purchases and anywhere MasterCard is accepted. Also 100% secure protection.
Sources and Citations