How to Make Deposits With PayPal

PayPal has revolutionized Internet commerce by letting individuals send and receive payments online with no complicated merchant set-ups and expensive credit card fees. Even large companies such as Amazon and eBay embrace the service for its convenience. However, receiving payment is just one part of the process. Though you can use the funds to make PayPal payments, to use the cash outside of the web, you need to link to your bank account and then make deposits.

Things You'll Need

• Checking or savings account

Instructions

1. Click the "My Account" tab on the PayPal website.

2. Click the "Profile" menu and choose "Add or Edit Bank Account."

3. Click the "Add Bank" button.

4. Click "Checking" or "Savings" and enter the bank routing number and your account number. You can find those numbers on your check or bank statement. After you enter the routing number, the bank name appears.

5. Click "Continue" to confirm your bank account. PayPal makes two deposits under $1 to your account. Check to see that you received those deposits and then log into your PayPal account. Click "Confirm" so you can deposit PayPal amounts.

Depositing

1. Click the "My Account" tab.

2. Click the "Withdraw" menu and choose "Transfer to Bank Account."

3. Enter the amount you want to deposit and choose the bank, if needed.

4. Click "Continue" and confirm that the information is correct. Then click "Submit" to make the deposit. You'll receive email confirmation almost immediately. However, depending on your bank policies, it may take a few days for the funds to show up in your account.

References

• Adding a Bank Account
• Withdrawing Funds