Introduction
PayPal is one of the world’s leading digital payment platforms, with over 429 million active users worldwide. The platform allows users to send and receive money, make online purchases, and withdraw cash from their accounts. Withdrawing cash from PayPal is a relatively simple process, but there are a few things you need to know before you get started.
Steps to Withdraw Cash from PayPal
- Log in to your PayPal account. You can do this by visiting the PayPal website or opening the PayPal app on your mobile device.
- Click on the “Wallet” tab. This will take you to a page that shows you your PayPal balance and a list of your recent transactions.
- Click on the “Withdraw” button. This will open a new page that allows you to select the amount of money you want to withdraw and the method you want to use to withdraw it.
- Select your withdrawal method. You can withdraw cash from PayPal using a bank account, a debit card, or a PayPal Cash card.
- Enter the amount of money you want to withdraw. You can withdraw any amount up to your available balance.
- Click on the “Withdraw” button. PayPal will then process your withdrawal request.
Note: PayPal charges a fee for withdrawing cash from your account. The fee varies depending on the withdrawal method you choose.
Withdrawing Cash from PayPal to a Bank Account
To withdraw cash from PayPal to a bank account, you will need to provide the following information:
- Your bank account number
- Your bank routing number
- Your bank’s name
- Your bank’s address
Once you have entered this information, PayPal will process your withdrawal request. The money will typically be deposited into your bank account within 1-3 business days.
Withdrawing Cash from PayPal to a Debit Card
To withdraw cash from PayPal to a debit card, you will need to provide the following information:
- Your debit card number
- Your debit card expiration date
- Your debit card CVV code
Once you have entered this information, PayPal will process your withdrawal request. The money will typically be deposited into your debit card account within 1-3 business days.
Withdrawing Cash from PayPal to a PayPal Cash Card
The PayPal Cash Card is a physical debit card that you can use to withdraw cash from ATMs and make purchases at stores. To withdraw cash from PayPal to a PayPal Cash Card, you will need to:
- Order a PayPal Cash Card online or through the PayPal app
- Activate your PayPal Cash Card once you receive it
- Withdraw cash from an ATM using your PayPal Cash Card
The PayPal Cash Card is a convenient way to withdraw cash from PayPal, but it is important to note that there are fees associated with using the card.
Comparing Withdrawal Methods
The following table compares the different withdrawal methods available from PayPal.
| Withdrawal Method | Fee | Processing Time |
|---|---|---|
| Bank Account | Free | 1-3 business days |
| Debit Card | $2.99 | 1-3 business days |
| PayPal Cash Card | Free (for ATM withdrawals) | Instant |
Note: The fees for withdrawing cash from PayPal may vary depending on your country.
Tips for Withdrawing Cash from PayPal
Here are a few tips for withdrawing cash from PayPal:
- Use a bank account to withdraw large amounts of money. Bank account withdrawals are free, and the money will typically be deposited into your account within 1-3 business days.
- Use a debit card to withdraw small amounts of money. Debit card withdrawals cost $2.99, but the money will typically be deposited into your account within 1-3 business days.
- Use a PayPal Cash Card to withdraw cash from ATMs. PayPal Cash Card withdrawals are free, but the card can only be used to withdraw cash from ATMs.
- Be aware of the fees associated with withdrawing cash from PayPal. The fees vary depending on the withdrawal method you choose.
Conclusion
Withdrawing cash from PayPal is a relatively simple process. You can withdraw cash to a bank account, a debit card, or a PayPal Cash Card. The fees for withdrawing cash vary depending on the method you choose.
