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How to receive money on PayPal and transfer funds to a connected bank account

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How to receive money on PayPal and transfer funds to a connected bank account

Category : entrepreneur

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  • You can receive money on PayPal from friends and family, or from someone buying a product or service you’re offering, as long as the sender has your PayPal email address. 
  • After you receive money on PayPal, you can transfer all or some of it to your connected bank account in just a few steps. 
  • Visit Business Insider’s homepage for more stories.

PayPal is incredibly useful for completing online purchases securely. 

But what if you want to receive money from a friend or family member, or even someone wanting to purchase a product or service you’re offering? 

Turns out, receiving money on PayPal is just as easy as sending it. 

How to receive money on PayPal

To receive money on your PayPal account, you’ll just need to provide the sender with one key piece of information: the email address your PayPal account is registered under. 

That’s it — the sender enters your email address into a field in their PayPal account and chooses how much they want to send, and then it will head your way. You will get an email alert when you’ve received money. 

However, once you’ve received the funds, you may want to transfer it to your bank account. Here’s how to do that. 

How to transfer money from PayPal your bank account 

1. Log into your PayPal account. 

2. On your Summary page, click the “Transfer Money” button just beneath your PayPal balance. You can also access this option via the “Wallet” menu in the top toolbar.

3. Click “Transfer to your bank.” 

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Select the option to transfer money to your bank.
Jennifer Still/Business Insider

4. If you have multiple bank accounts or cards linked to your PayPal account, choose which one you want to transfer your money to, and click “Next.” 

5. Enter the amount of money you want to transfer to your bank, then click “Next” again. 

6. On the next page, you’ll be asked to review your transfer. If all the information shown is correct, click “Transfer [your amount here] now.” Your money will then be transferred to your account.

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Set the amount you want to transfer and click Transfer Now.
Jennifer Still/Business Insider

Related coverage from How To Do Everything: Tech:

  • How to change your PayPal password to keep your account secure, or reset the password if you’ve forgotten it

  • How to transfer money from PayPal to your bank account for free, in 2 different ways

  • You can use most credit cards on PayPal – here’s how to add a card and link it with your account to make purchases

  • How to refund a payment on PayPal in 4 simple steps

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About Author

Sammy Singh

Global VC, Founder, and entrepreneur extraordinaire as featured in Inc. Magazine, Bloomberg, and Forbes. Sammy Singh is a graduate of UCLA and Wharton School of Business as well as a former student of Loyola University of Chicago. Sammy is best known as a renowned financial technology global entrepreneur and has founded over 26 different firms across industry and all over the world. He is a venture capitalist,a TV/ Film actor, tax specialist, and marketing solutions strategist. Connect with Sammy Singh on social media below! www.linkedin.com/in/cfo www.instagram.com/champagnegqpapi www.facebook.com/officialsammysingh www.twitter.com/cxosynergy www.medium.com/@sammysingh www.crunchbase.com/sammysingh

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