How to Add Funds to Your PayPal Account

PayPal is the easiest way to pay online. Quite often it may happen that you run out of money in your PayPal account. Adding money to your Paypal account is very simple.

It can be done by transferring funds from your Credit Card or Bank Account.

How to Add Funds to PayPal Account through Credit Card

Even if you don’t own a penny, if you have a credit card you can pour in money to your paypal account. Adding funds to paypal through a credit card makes you carry out payment even when you are running out of cash. Let us see in detail how to add funds to your paypal account through Credit Card.

Step 1 - Add your Credit Card info to the PayPal System. The following points to be added to the same:

• Your name
• Card type and Number
• Expiration Date
• Card Verification Number (CVV no, these are the three digits on the back of your card)

Step 2 - Enter your Billing Address. PayPal will confirm your card number as well as billing address on your credit card statements. Click “Add Card”

Step 3 - Transfer your funds and you're ready to shop.

Step 4 (Optional) – If you are using PayPal regularly, then you can verify your PayPal account for additional features.

In US, UK & some European countries, PayPal also allows you to add money from your Bank Accounts.

Add Money to a PayPal Account from a Bank Account

What can be easier than refilling your paypal account directly from your bank account? To transfer money from bank account you need to establish a link between your paypal account and the bank account. Once it is done, you can transfer money without any delay.

Check out the following detailed steps to link your bank account to paypal account.

Linking a bank Account for Transferring funds

Step 1 - Firstly check whether your bank account is linked to your Paypal Account. This can be done as follows:

• Open the “Account Overview” page
• Click on “Edit Profile Link” to reach the “Profile Summary page”
• Click on “Bank Accounts” link in the financial column in the profile summary.

If no bank is linked in the account you can add your bank name, routing number and account number.

Whenever a new bank account is added to Paypal it needs to be verified. Verification process consists of Paypal making two small deposits into your bank account. The Online banking user can check the statement and see two deposits with PayPal as the payee.

You will have to enter the amounts into PayPal as verification for the account.

Step 2 - When the Pay Pal lists the available bank details, it will give the name of the Bank and the last four digit of the account. For e.g. If your account no is 1234567890 it will be shown as xxxxxx7890.

It is always advised to keep the last four digits of the account handy.

Step 3 - While checking the bank accounts please make sure that the account from which the transfer is to be made is listed and verified.

This is a one time process and once verified you can keep adding funds from this bank account to the paypal account. You can link more than one bank account to a paypal account as per your convenience.

Now let us get in to the details of how the transfer procedure happens.

Transfer of Funds Procedure

1. Click on the “Add Funds” link on the top of the Paypal Page.
2. On reaching the “Transfer Funds” page please note the processing time.
3. Processing Time is usually 3-4 working days for the electronic transfer to take place.
4. Choose “ Transfer Funds from a Bank Account in your Area”.
5. Pickup the right account Number from the dropdown menu provided.
6. Enter the money you want to transfer and hit the “Continue” button.
7. Look into the confirmation pages and make necessary corrections and click on the “Submit” button.
8. A confirmation mail will be sent to you that can be checked in your email. In 3~4 days check your PayPal accounts for status of the transfer.

Fees for Adding Funds to PayPal

There are no fees charged by PayPal for adding funds from your bank account. But there is a possibility that the banks may charge you a fee to send the funds to PayPal. This has to be checked with the banks prior to sending funds.

Limitations of Adding Funds to PayPal

• Adding funds to PayPal account via bank transfer is available only to customers in a certain countries only.
• Funds must come from your bank account into a PayPal account with the same name as the registered account holder. If you attempt to send funds from an account wherein the name of the PayPal Account and the name on the bank account do not match, the Funds transfers to accounts that do not have the same registered owner.
• PayPal reserves the right to limit the amount that can be topped up at any time to prevent fraud, risk and regulatory reasons.
• The transaction “ADD FUNDS” cannot be reversed. Firstly the funds have to be transferred to your PayPal balance and only then they can be transferred back to the bank account.

In India, PayPal only allow you to add funds through Credit Card.