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How to withdraw your money from PayPal?

If you are still paying merchants through individual sites, inputting your personal financial information many times, you are opening yourself up to having your information hacked, and used by potential criminals. The best way to pay merchants, when possible, is by paying through a PayPal account. PayPal is quickly becoming the universal banking system of the World Wide Web. Many merchants are converting their transactions to accommodate for PayPal payments, making it easier than ever before to make secure payments without the inconvenience of trying to continually find your wallet and inputting the information.

PayPal is not only a great way to make payments; it is an excellent way to accept them as well. If you are either selling things online, or are looking for a way to transfer funds between financial institutions, once you have the account set up, transferring funds is as easy as clicking on a couple of buttons. If you want to withdraw money from your PayPal account, all you have to do is follow the steps below:

  1. Log into your PayPal account
  2. Go to “My Account”
  3. Below my account you will see a tab for “withdraw”
  4. You will see the options “transfer to bank account”, “request a check” and “PayPal Debit MasterCard”

If you choose “transfer to bank account”

  1. Enter the amount
  2. Choose the designated bank account from among the list
  3. Click “continue”
  4. Review the bank account information and click “submit”
  5. A confirmation will appear

If you choose “request a check”

  1. Enter the amount
  2. Choose the address from among your list
  3. Verify the information then hit “submit”

To use the option for “PayPal Debit MasterCard”, you must have an account. If you have a PayPal Debit Card, you follow the same steps as above to transfer funds to it.

Withdrawing funds from your PayPal account is as easy as using it to pay. The hardest part is setting up the payment options. If you do not have any bank accounts on file, it will take several days to verify your bank account. First you have to enter the information, and from there you will be issued several transactions from PayPal into your account. You must enter the exact amounts for verification. This process can take 2 to 5 business days.

You will not be able to access funds that are transferred and withdrawn to your bank account for 2-3 days even if the account is already verified and set up, so planning a couple of days in advance when you need the funds is recommended.

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