Most major banks in the U.S. (e.g., Chase, Wells Fargo, Goldman Sachs) and internationally (e.g., FNB) allow withdrawals from PayPal by linking a checking or savings account. You can also use the PayPal Debit Mastercard to withdraw cash at ATMs, or transfer funds directly to banking services like Wise.
The FNB Withdraw Service with PayPal allows you to withdraw funds paid into your PayPal account to your FNB or any linked South African bank account. You will need an FNB Online Banking profile.
Withdraw directly from your PayPal account using the PayPal Debit Card at any ATM or point-of-sale terminal.
How do I withdraw money from my PayPal account?
There are two ways to withdraw money from your PayPal account: Instant transfer to your eligible debit card or bank account. Standard transfer to your bank account.
A bank account is really a deposit of money that enables us to perform everyday banking transactions: transfers, payments, paying in, direct debits, ATM cash withdrawals, etc.
You can combine the power and benefits of both Chase and PayPal. You can link your Chase account to PayPal— plus, eligible customers can even use Chase Ultimate Rewards ® points when you checkout through PayPal.
You can withdraw money from PayPal for free by making a Standard Transfer to your linked bank account, which takes 1-3 business days, or by using your PayPal Debit Card at a MoneyPass ATM (found in stores like 7-Eleven, Walmart, CVS, Walgreens) to get cash with no surcharge. Avoid Instant Transfers (which have a fee) and out-of-network ATMs for free withdrawals.
To withdraw money from your PayPal account:
Banks with no ATM fees often offer large surcharge-free networks (like Allpoint, MoneyPass) or reimburse fees, with top choices including Axos Bank, Ally Bank, Alliant Credit Union, Capital One 360, and Charles Schwab, catering to different needs from online banking to worldwide access. Look for online banks or credit unions with vast ATM networks or those known for unlimited fee refunds, like Charles Schwab for global use or Axos for domestic.
You can withdraw PayPal funds at an ATM using the PayPal Debit Card (personal or business), which works like a regular debit card with a PIN, allowing cash withdrawals at ATMs displaying Mastercard, Cirrus, Pulse, or MoneyPass logos. Fees vary: no fee for MoneyPass ATMs in the US, but a $2.50 fee for non-MoneyPass ATMs, plus potential ATM operator fees and daily limits (around $400 USD).
For questions about your specific tax situation, please consult a tax professional. Payment processors, including PayPal, are required to provide information to the US Internal Revenue Service (IRS) about customers who receive payments for the sale of goods and services above the reporting threshold in a calendar year.
Can I transfer money from PayPal to my bank account instantly?
The Bancorp Bank (TBBK) is a U.S. financial institution specializing in private-label banking and technology solutions for non-bank companies, powering services for fintechs like Chime, asset managers, and other businesses, offering payments, lending (prepaid cards, small business, vehicle fleet), and institutional banking, acting as a crucial partner for firms needing integrated financial technology.
You don't need a bank account to open a PayPal account and receive money, but linking a bank account (or credit/debit card) is required to send payments, verify your account fully, and withdraw funds for most users, though some alternatives like prepaid cards or verified ID exist for limited functions. A linked bank account or card removes limits, unlocks full features, and allows you to send money, making it a core part of the PayPal experience for most users.
The PayPal Debit Card has a daily spending limit of $3,000 USD, a daily ATM withdrawal limit of $400 USD, and a daily over-the-counter withdrawal limit of $5,000 USD.
A standard PayPal transfer takes about 1-3 days to reach a bank account. However, if you have a PayPal balance, you can use instant transfers to move your money to your bank or debit card up to 30 minutes for an extra fee.
Click 'Wallet' Select 'Transfer money' and then 'Withdraw from PayPal to your bank account' Choose the linked bank account you want to send the money to - if you haven't already linked a bank account, skip ahead to the next section to find out how to do it. Select either 'Instant (Free)' or 'Standard (Free)'