How to Transfer Money from Bank Account to PayPal Instantly: Paypal is one of the most popular means of money transfer and making an instant payment in modern times. Things link online purchases, subscriptions, and sending money to friends and family can easily be done with Paypal. To transfer money from your bank account to Paypal account can take up to 3 to 5 working days. But it has become very possible to just link your bank account to your Paypal account for such transactions to be done instantly.
In this article, we are going to look at how you can easily transfer money instantly from your bank account to Paypal.
Paypal is frequently used for regular subscription payments, but many people still don’t know how to ad money to their Paypal account. As a frequent user, if you have money leaving your bank account via Paypal on a regular basis, then adding money directly to your Paypal account can help you ensure to meet up with your payments as at when due.
On that note, it is quicker and much easier to have a linked bank account in order to simply debit money straight from your Paypal account.
How to Transfer Money from your Bank to PayPal
You will need to first of all link your bank account to your Paypal account if you wish to make a Paypal money transfer using your bank account. The steps to do that are shown below.
- Login your Paypal account on your device
- Go to the “Account” tab, hover over the link to your profile and select “My Money” from the drop-down list
- In the Bank account section, update your bank information
- You can click on “Confirm Instantly” if you have access to online banking. If not just select the “Confirm in 2 – 3 days” option and follow the prompts to complete the process.
You can then easily add money to your Paypal account once you have confirmed your bank account. Follow the steps listed below to do this.
- Check to be sure you are logged in to your Paypal account
- Click on “Add Money” under the section that displays your Paypal balance on your dashboard
- Select the option that reads to add money from your linked bank account
- Click on “Next” right after you have added your withdrawal amount
- Check to be sure all details are correct, and then click “Confirm” to complete the withdrawal process from your bank account.
How long does it take to Add Money to your PayPal Account?
Usually, it can take up to 3 – 5 working days to transfer money from bank account to Paypal, depending on your bank. In a case whereby you are trying to transfer money from you bank account to Paypal instantly because you need it urgently, then prepaying ahead of time will be the best thing to do. But then, there are many other payment systems that can allow you send money instantly.
Making an Instant payment with PayPal
Making an instant payment with Paypal is very possible despite it taking several working days to transfer money from your bank account to your Paypal account. Rather than entering your card details when making an online payment or signing up for a subscription, you can simply choose the option to pay via Paypal.
When you do this, your bank processes the PayPal’s request for the money while the seller or merchant gets credited immediately. You will need to have already linked your Bank account to your PayPal account using the steps listed above, in order to be able to complete instant transfer with PayPal. Usually, PayPal sends a confirmation email any time a transaction is completed successfully. So you will definitely get an email.
Making instant payments with your Paypal account, and transferring money from your bank account to Paypal account should be free. However, in some cases there are fees attached to sending and receiving money from Paypal.
So, why use PayPal for Instant Payment?
PayPal has proven to be a convenient way to make online Payments, because rather than having to enter your card details all the time, you can simply log in with your email address. Likewise, sending and receiving of smaller payments from family and friends can easily be done with PayPal.
However, in terms of cost and speed, if you are looking to send money internationally, then PayPal is rarely the best option to use.
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