How to Cancel PayPal Electronic Transfers From a Bank Account
By Jacob Andrew
PayPal enables automatic transfer of money from a bank account into your PayPal account. This enables you to pay using the service even if the payment amount is greater than your current balance. Though an active transfer can't be reversed, you can send the money to your bank account, free of charge. You can also take steps to ensure that money is not withdrawn automatically in the future.
Transfer Back to Bank on PC
Log into your PayPal account.
Mouse over “Withdraw” beneath the dark blue tabs Send Money and Request Money. A list of additional options appears. Select “Transfer to Bank Account” from this list.
Select the bank from which you transferred the money. This should appear in a drop-down list labelled “To.”
Enter the amount originally transferred from your bank account and click the “Continue” button.
Transfer Back to Bank on Mobile
Open the PayPal app on your mobile device and log in.
Tap the account balance to bring up a menu with four options. Select “Withdraw Money” from the menu.
Tap the “To:” field to receive a list of bank accounts to which you can send the money. Select the account with the last four numbers that match the account from which your transferred the money.
Tap “Amount:” and enter the amount of money pulled from the original bank account.
Tap the “Withdraw” button. You should receive a confirmation that the withdrawal was successful.
Removing Automatic Transfers
Log into your PayPal account.
Mouse over "Profile" in the top bar beneath "Products and Services." In the menu that appears, click on "Update Bank Account."
Click "Remove" beneath the bank account from which you wish to halt automatic payments.
Warnings
If you haven't previously added the bank account to your profile, you’ll have to add that before the transfer can be made. Most bank accounts can be verified instantly; however, some banks require verification through two small deposits to your account. Verifying accounts in this way adds as much as three days to the process.
Bank transfers typically take three to five business days to complete.
Any linked bank account listed as primary will automatically be used to cover purchases great than the balance in PayPal. All bank accounts must be removed to cancel all automatic transfers.
References
Writer Bio
Jacob Andrew previously worked as an A+ and CCNA-certified technology specialist. After receiving his BA in journalism from the University of Wisconsin, Madison in 2012, he turned his focus towards writing about travel, politics and current technology.