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How to Set Up Instant Transfer With PayPal

by Katrina Matterhorn

PayPal gives you many options for sending and receiving money. When participating in online transactions such as eBay auctions or with sites such as Craigslist, it can be a convenient way to receive or send money without sharing your bank account information. If you need to transfer money from your PayPal account to another account, that can also be accomplished in a few clicks.

Create the Ability to Transfer Funds

Step 1

Sign in to your PayPal account using your PayPal email address and password.

Step 2

Click "Profile," "Add or Edit Bank Account."

Step 3

Click "Add Bank." Select from "Checking" or "Savings." Type your bank's routing number and your account number. Click "Continue."

Step 4

Select the option to verify your bank account in two to three days. PayPal will make two deposits of a few cents into your account within that time frame. Check your bank account for two deposits from "PayPal ACH" within two to three days of adding your bank account information. Note the two deposit amounts.

Sign back in to your PayPal account. Click "Confirm Bank Account." Type the two deposit amounts in the fields provided. Click "Confirm." PayPal will use this account as a source of backup funding and you can transfer PayPal funds to it as well.

Set Up Transfer

Step 1

Sign in to your PayPal account using your PayPal email address and password.

Step 2

Click "Withdraw." Select from "Transfer to Bank Account," "Request a Check," or "PayPal Debit Card."

Enter the amount for the transfer and click "Continue." Verify that you have entered the correct amount and selected the desired account and click "Withdraw."

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