How to receive money on PayPal and transfer funds to a connected bank account
Category : entrepreneur
- 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.
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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.”
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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