How to Withdraw Money from PayPal Account?

PayPal is one of the easiest and quickest ways to get paid online. But do you know how to withdraw money from your PayPal account?

You can withdraw your money in three different ways:

1. by withdrawing money to your bank account
2. by requesting a cheque and
3. by withdrawing to your credit card

Withdraw PayPal Money to Your Bank Account

Withdrawing money to your bank account requires you to have a verified PayPal account. Otherwise, there is a limitation of $500 / month. Here are the steps to follow:

Step 1 - You should have a bank account linked with your PayPal account. Also this account should be verified. If you do not have a verified PayPal account, add a credit card and get verified by PayPal.

Step 2 - On Account Overview page, click the “Withdraw” tab.

Step 3 - You have to select the option “Transfer Funds to Your Bank Account” and click on the link.

Step 4 - Next you will put in the amount you want to withdraw. Then from the drop down menu, select the proper bank account. Click the “Submit” button.

Step 5 - It will take 3 to 5 days to deposit the money from PayPal account to your Indian bank account.

It should be noted that PayPal requires the name on your PayPal account matches the name on your bank account. Otherwise, the transaction is reversed after deducting Rs.250.

Withdrawing PayPal Money by Cheque

It's the traditional money withdrawing method offered by PayPal. Earlier, before the introduction of EFT, this was the most preferred method used by PayPal users.

Step 1 - Visit Account Overview page on your PayPal account and click the “Withdraw” tab.

Step 2 - Then click on the link “Request a Cheque from PayPal”.

Step 3 - PayPal will deduct a small processing fee (usually $5) from your account. So accordingly put in the amount you want to withdraw.

Step 4 - Make sure the address entered in account information is correct. Then click the “Continue” button.

Step 5 - To receive check by post it will take three to four weeks.

This is a deposit cheque, thus you have deposit it to the bank account with same name.

Withdrawing PayPal Funds to a Credit Card

This is one of the innovative methods PayPal introduced in 2008. Using this method, you can withdraw money to your credit cards.

Step 1 - Visit Account Overview page on your PayPal account and click the “Withdraw” tab.

Step 2 - Then click on the link “Withdraw funds to Credit Card”.

Step 3 - Next you will put in the amount you want to withdraw. Then from the drop down menu, select the credit card (If you have more than one). Click the “Submit” button.

Step 6 - It will take 3 to 5 days to deposit the money from PayPal account to your credit card.

To withdraw money without any trouble, your bank / cheque / credit card information should be correct and updated regularly. In case of incorrect or incomplete information, PayPal might return your withdrawal and a fee is charged.