How to Withdraw PayPal Money to Credit Card

If you are a regular shopper at online stores you must have come across Paypal. Have you ever wondered what exactly Paypal is? PayPal is an e-commerce business allowing payments and money transfers to be made through the Internet. It mainly serves as an electronic alternative to traditional paper methods such as checks and money orders. PayPal is an example of a payment intermediary service that facilitates worldwide e-commerce.

A PayPal account can be funded with an electronic debit from a bank account or by a credit card. Your PayPal account can be used for online transaction as well as buying stuff. If you are a seller, you may be using it to sell goods or services. At some point you may require to withdraw funds from PayPal.

Withdrawing from PayPal is easy. The recipient of a PayPal transfer can either request a check from PayPal or request a transfer to their bank account. But of all the methods, the easiest one is through credit card.

Credit Card Withdrawal from Paypal

Now let us see why using a credit card withdrawal is the most convenient. Adding your paypal funds directly to your credit card has its own benefits.

Suppose your credit card bill is in the queue and you have to make an early payment to get over the extra charges. Add funds from Paypal that will cover the amount. This may take something around 4-5 business days to get the money reflect in the credit card statement.

This is surely good if you have not linked your credit card to any of your banks. And every time you have to physically go to the bank or drop box to deposit the cash or cheque to cover the credits.

The most visible benefits of Paypal to Credit Card transfer are:

Fees are very low – Unlike cheques, that take high processing charges, the transfer to credit card fee is less.

It takes only 2-3 days – Cheques usually takes 20 days to get delivered and another 5 days to get debited. If you use credit card transfer the money will get transferred to your credit card in a maximum of 3 days.

Credit Cards are often used by majority of people instead of cash – Nobody prefers to carry cash these days. The plastic cards especially credit cards are so convenient for all your needs.

Can be directly used for shopping- The wide acceptance of credit card makes it the easiest method of payment. So who doesn’t want one with more cash in it? Can transfer to bank account in case of larger balance – If you feel that there is more than required amount of cash lying in your credit card you can simply transfer it to your bank account to keep it secure.

Those benefits really make credit card the best pal of PayPal. Having told all the benefits, now let us see in detailed steps how to withdraw your money from PayPal to credit card.

How to withdraw Paypal Money to your Credit Card

First you have to make sure that you credit card is eligible for withdrawal. There are some cards that allow you only to spend. (For example, a Payonner Card.) Most of the credit card issued by ICICI Bank & HDFC Bank will allow you to do this.

How to determine if your Visa® credit card is eligible to withdraw funds?

If you already have a card with a Visa logo added to your account, you’ll need to initiate a withdrawal to determine if your card is withdraw-eligible. Once you initiate a withdrawal, the status will show if it is eligible to withdraw funds.

This can be any card that you have linked to your PayPal account. This means it need not be the one with which you activated your PayPal account. The PayPal website states that this withdrawal facility is available for both VISA and MasterCards.

Add your Credit Card to your PayPal account and verify it (if you haven't already done.). Once verified, you can initiate withdrawals to credit card. Up on withdrawal, funds will appear in your credit card balance as a negative balance. You can use the funds as you normally do. However, it should be noted that, some credit card companies charge some interest for a day when you do this. Contact your CC provider for more information.

Step-by-Step Procedure to withdraw Paypal Money to Credit Card

1. Log-in to Your PayPal Account

• Go to Paypal.com and
• log in with your used id and password.

2. Add Your Credit Card

• Go to the Profile tab
• click add/Edit credit card
• Enter your credit card number there without any spaces
• Enter your billing info

3. Verify Your Credit Card

• On the welcome page you will see Get your card verified, click on that.
• Click on Link and confirm your Credit card.
• Fill in your credit card details. paypal will charge an amount for this. This amount will be paid back to your card once it gets confirmed.
• PayPal will ask you to enter the expanded verification code to verify this card. For this check your credit card statement and look for something PP-EXPUSE1234. The “1234” will the verification code.
• Once you enter this code, your credit is verified and you can enjoy all the benefits of verification.

4. Withdraw to Your Credit Card

• Log in to your account and click withdraw tab.
• Click ‘Transfer funds to your card’.
• Fill in the required information and click ‘Continue’.
• PayPal completes the transfer in 5-7 working days, but your Visa card issuer’s policies may affect the processing time and could take longer.

5. Check CC Statement

The funds will appear as a credit on your credit card account/statement. You can choose to apply this credit against your credit card account balance or you may choose to withdraw the funds, if your bank permits.

Is withdrawing money from Paypal to Credit card free?

Unfortunately No, it is not free. Coming to the costs for this type of paypal withdrawals, each of these transactions will cost a $5. The minimum withdrawal limit is $10. And you can withdraw upto $500 per day to your credit card. This limit varies for different countries. Be sure you know the limits before you initiate such a transaction. This is available at the PayPal official website.

Why withdrawing to CC is better than other methods?

Even-though PayPal offers multiple methods of withdrawals, the CC method is preferred. It is that is the most easiest and faster way to withdraw from PayPal. All you need is a eligible credit card and you can withdraw money to your card.

A cheque withdrawal requires you to wait at least 25 days for arrival and another 10 days for clearing it. The other method of Bank withdrawal requires, you provide some new details such as purpose code etc for withdrawal. It also requires you to know the IFSC code of your bank account.

In India withdrawing to bank account was the convenient method until now. But because of the changes that PayPal has incorporated with Indian accounts, the CC method is now preferred.

This fund to card feature from PayPal is supported in many countries like Argentina, Brazil, Bulgaria, Chile, Cyprus, Estonia, Gibraltar, Iceland, Indonesia, India, Israel, Italy, Latvia, Lichtenstein, Lithuania, Luxembourg, Malaysia, Malta, Philippines, Romania, San Marino, Slovakia, Slovenia, Turkey, UAE, Uruguay etc.

Now since the withdrawal options aren’t limited, nothing should be stopping your from expanding your online businesses. Also you can send more money to your loved ones back home through your credit cards. Can there be a better way to make your family happy?