Millennials have the luxury of making easy payments via their fingertips. With market players are PayPal, making online payments are not only easy but also safe. It allows you to make or accept payments and even shop for basic needs via their app. PayPal can also be chosen as a mode of payment on various other shopping apps or websites. Once you have registered yourself on PayPal, you can retain some balance in your account and easily make payments on various gateways via PayPal. One of the most frequently asked question still remains, how to transfer money from PayPal to bank? Here are 4 ways to transfer money from PayPal to your bank account.
Transfer to Bank via Smartphone
On your Smartphone, you will need to look for the PayPal app and login to the same using your credentials. How to transfer money from PayPal to bank? Once you have logged in, you can choose ‘manage balance’ option which appears on the top of the screen. It will display your current account balance. On the bottom right you can then see ‘transfer money’ option. You need to have a balance of more than $1 in order to be able to see this option. Once you select the bank account you want to transfer the money into, you can easily select the relevant option and amount and proceed.
Transfer to Bank via Computer
On your desktop or laptop, you can launch the PayPal website. On the top right-hand side corner of the logged in page, you will see ‘My PayPal’ which will take you to your account page. Within this page, you will be able to find ‘transfer to your bank’ option. Once you select the bank account that you want to transfer the money in, you can proceed to transfer. Transfers are usually subject to review and you can expect some amount of delay in case any discrepancy is found within the review.
Send Money via PayPal
PayPal also has the option of sending money to a contact’s bank account. Within your PayPal app on your smartphone, you can login by entering your credentials. You will need to look for the option of ‘send money’. If you opt to send money without any balance in your PayPal account, the money will automatically be deducted from your linked bank account. In order to send money, you will need to type in your contact’s email address or phone number.
Send Money via Computer
On the PayPal website, once you are logged in, click on ‘My PayPal’ option. Within this page you will find ‘pay or send money’ option. You may choose a payment type out of pay for goods and services or send money to friends and family. Once you have typed in the email address or phone number or just the name, you can punch in the amount you wish to transfer and proceed to send money.
This demystifies the question ‘how to transfer money from PayPal to bank’, and will help a lot of consumers to navigate through and use PayPal in a swift way.