Millennials have the luxury of making easy payments with only a few clicks. With market players are PayPal, making online payments is not only easy, but also very safe. Paypal 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 with PayPal, you can retain balance in your account and easily make payments on various gateways. One of the most frequently asked questions, how to transfer money from PayPal to bank still remains unanswered. Here are 4 simple 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 your account using your credentials. Once you have logged in, you can choose the ‘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 that you want to transfer the money into, you can easily select the relevant options and the amount before you proceed.
Transfer to Bank via Computer
You can also launch the PayPal website on your desktop or laptop,. On the top right-hand side corner of the page, you will see the ‘My PayPal’ option, 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 into, you can proceed to transfer. Transfers are usually subject to review and you can expect some amount of delay in case any discrepancies that are found during the review..
Send Money via PayPal
PayPal also has the option of sending money to a contact’s bank account. Within the PayPal app on your smartphone, you can login by entering your credentials. You will then need to look for the ‘send money’ option. 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
After you have logged in on the PayPal website, click on ‘My PayPal’. Within this page, you will find the ‘pay or send money’ option. You can choose a payment type to pay for goods and services or send money to friends and family. Once you have typed in the email address or phone number, 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 hopefully help a lot of consumers in navigating through the PayPal digital interface and use PayPal in the best way possible.