PayPal has established itself as one of the most versatile and secure solutions for managing online payments and collections worldwide. Its ease of use, security, and availability make it the preferred choice for individuals and businesses, freelancers, and those offering online services. One of the most sought-after features is precisely knowing how to use PayPal. how to withdraw money from PayPal in a simple way, choosing the fastest and most economical option depending on the case.
What is PayPal and how does it work?
PayPal is a digital payment and collection platform It allows you to send, receive, and store money through an email account. It emerged as a solution to facilitate secure online purchases and quickly expanded as a payment method in online stores, auction sites, and later across multiple platforms, apps, and global services.
To use PayPal, you just need to register your email and link a bank card or checking accountYou can add funds to your account or have payments charged directly to the linked method. This saves you from having to share your card details every time you make an online purchase, thus increasing security against fraud or information theft.
The padlock next to the web address indicates that all information transmitted is cifrada and protegida. So, even if the data were intercepted, it would be useless to third parties. Furthermore, PayPal acts as a trusted intermediary: if any problems arise with a transaction, you can open a dispute and, in most cases, get your money back quickly.
One of its strengths is the versatility when withdrawing funds, which allows you to transfer money to bank accounts in different countries, cards, alternative services, and even mobile wallets and cryptocurrency alternatives in enabled regions.
Is PayPal safe? Safety tips and tricks
Security is one of PayPal's top priorities, and over the years it has strengthened its systems to protect both buyers and sellers. Today, it is one of the most robust platforms in the industry:
- Advanced Authentication: It is recommended to activate the two step verification so that even if someone were to obtain your email and password, they would also need a temporary code that you will receive on your mobile phone.
- Buyer and seller protection: In the event of any unauthorized transaction or a good that you do not receive or is not as expected, you can open a dispute and claim the amount.
- Suspicious Activity Control: The system blocks dubious transactions and requires additional verification in some cases to prevent fraud.
A real-life example, as many users can attest, is that in the case of unauthorized payments, the refund is practically immediate if you detect the problem and take action through the app or website. This way, you'll have a double guarantee: your balance is secure and support for every payment or collection made.
What is PayPal for? Main uses of the platform
PayPal doesn't just allow you to shop online or send money between individuals. Its applications have multiplied:
- Buy in online stores national and international without sharing banking details.
- receive payments for sales, freelance services, collaborations or monetization platforms (e.g. eBay, Etsy, Fiverr, etc.).
- Withdraw money to accounts, cards or wallets mobile phones quickly.
- Convert currencies: Pay and receive payments in different currencies, although beware of the additional exchange rate fee.
- Payment and collection between friends or family instantly at low cost (depending on country and type of operation).
The big advantage is flexibility: you can use only your email and password to pay, without having to show your card or IBAN. Plus, you can manage your funds and transfer them to multiple destinations whenever you need.
Options available to withdraw money from PayPal
Withdraw money from PayPal It doesn't just mean transferring your balance to a bank account. There are multiple alternatives that will depend on your country, the type of PayPal account you have, and your needs. Below, we analyze the main options and their features:
- Standard bank transfer: The most common method, it allows you to send the balance to a linked bank account. It's free in most countries and usually takes between 1 and 3 business days.
- Instant transfer to account or card: The money arrives in minutes to your account or eligible card, paying a commission (normally 1% of the amount, with an established minimum).
- Sending to debit or credit card: You can transfer the balance to one of your compatible associated cards, allowing you to withdraw cash from ATMs based on availability.
- Withdrawal to mobile wallets (such as Nequi in Colombia): very useful if you don't have a traditional bank account.
- Physical check (available in some countries): You request a check to be sent by mail.
- PayPal Business Debit Mastercard® (businesses and self-employed): Direct spending and withdrawals from PayPal balance at ATMs, subject to certain daily limits.
- Transfers to international accounts: You can link accounts in the United States or other countries and withdraw your funds directly in foreign currency.
- Transfer to multicurrency accountsServices like Wise allow you to link accounts in multiple currencies to save on exchange fees.
- Other external gateways or wallets (Wise, crypto alternatives, and regional services). In some cases, it's possible to transfer your balance to alternative wallets or digital platforms.
Step by step: How to withdraw money from PayPal to a bank account
- Open the PayPal app or website and log in. with your email and password.
- Access the “Portfolio” section, both on the mobile app and on the desktop website.
- Click on your available balanceThe option to manage funds will appear.
- Choose “Transfer money” or “Withdraw funds”.
- Select the bank account previously associated (if you do not have it linked, you must add it following the steps indicated, providing IBAN and identification data).
- Indicate the amount to be transferred and confirm the transaction. Check carefully whether you want to do it using the standard method (fee-free, but slower) or instant method (fee-based, but immediate).
- You will receive confirmation and you can check the status of the transfer in your transaction history.
Alternative methods to withdraw your money from PayPal
Withdrawal to debit or credit card
- Link your card in the "Wallet" section. You can link Visa, Mastercard, and, in some cases, American Express debit or credit cards.
- Once linked, follow the same process: choose “Transfer money,” select the card, and confirm the amount.
- The money will appear available on the card within a few minutes to 48 hours, depending on the type of card and transfer.
- You can withdraw cash from ATMs if the issuing institution allows it and the card is compatible.
Withdrawal to mobile wallets: Nequi, other wallets, and local apps
- In countries like Colombia, you can link your PayPal account with nequi to instantly move money to your mobile wallet.
- The usual process involves first associating the account and following the specific instructions provided by Nequi, including validating personal data.
- Some regional digital wallets in Latin America allow PayPal withdrawals following similar procedures (check availability in your country).
International withdrawals: transfers to foreign accounts and multi-currency services
- PayPal allows link bank accounts from the United States or other countries as long as they are in your name and are compatible.
- In the case of users who receive money in currencies other than their local currency, there are multi-currency platforms such as Wise which allow you to link international accounts and receive the balance in dollars, euros, etc., avoiding automatic conversion and its additional fees.
- This system is ideal for those who work with foreign clients or receive payments from global platforms.
Physical check (in eligible countries)
- PayPal can send a check to the address registered to your account. The processing time varies (from 5 to 15 days) and there is a shipping and handling fee. It's not available in all countries and is currently an uncommon option.
PayPal Business Debit Mastercard® Card
- If you own a business or are self-employed, you can apply for a PayPal debit card (if available in your country).
- It allows you to withdraw funds directly from ATMs and make purchases in physical stores using your PayPal balance.
- Subject to daily withdrawal limits and transaction fees depending on the country and ATM operator.
How long does it take for the money to arrive after withdrawing from PayPal?
- Standard bank transfer: It usually takes between 1 and 3 business days, although it can be extended to 5 days in exceptional cases or international transfers.
- Instant transfers: The money arrives within a few minutes (maximum 30), although this depends on the time, business day, and receiving bank. Daily limits may apply.
- Card withdrawals: It is usually available within minutes, although it can sometimes take up to 48 hours.
- Withdrawals to mobile wallets: These are usually reflected in the account within seconds, subject to additional security validations.
- Postal check: takes between 5 and 10 business days (depending on destination), with associated costs.
- International transfers: They can take up to 5 or even 7 business days in some cases, especially if currency conversions or regulatory validations are involved.
Commissions and fees when withdrawing money from PayPal
Fees vary depending on the type of transfer, country, and currency. Some of the main costs to consider:
- Standard bank transfer: Generally free for accounts in the same currency and country, although some banks may apply their own fee for receiving electronic transfers.
- Instant transfer: This typically has a fixed rate of 1% on the total amount, with established minimums and maximums. Check the conditions for your country.
- Transfers to cards: : similar rate to the instant rate, depending on the issuer and country.
- Currency exchangeWhen you withdraw funds in a different currency, PayPal applies a 3% to 4% fee based on the average exchange rate, which can be a significant cost.
- Withdrawals to mobile wallets (Nequi, among others): There may be a fixed commission (for example, 10 USD + VAT in the case of Nequi in Colombia).
- Postal checks: : shipping and handling fees, plus longer lead times.
It's important to review the breakdown and confirmation of fees for each transaction, as well as any additional fees charged by the receiving bank, the associated card, or intermediary platforms.
Tips for saving on commissions and common problems
- Prefers standard transfers to bank accounts to avoid the cost of snapshots, except in emergencies.
- Link accounts in the same currency as your PayPal balance, this way you will avoid double conversion (for example, if you receive in USD, use a USD account).
- Use multicurrency accounts like Wise to reduce the impact of exchange rates if you deal with international clients or multiple currencies.
- Always check your email and bank/card details to avoid errors in transfers. Incorrect information can temporarily delay or even lose your money.
- Remember transfers may be subject to review For security or compliance reasons, keep your ID documents up-to-date.
- Some cards or accounts are not eligible for instant withdrawals, so you'll need to check the list of options available in your country.
- Once a transfer of funds has been requested, cannot be canceled. Make sure all information is correct before confirming.
- If you manage international or large-scale payments, consider alternatives like Mural Pay, Wise, or specialized business solutions to reduce batch costs and improve your financial control.
Can I withdraw money from PayPal without a card or bank account?
In some countries, PayPal allows you to withdraw funds to local mobile wallets (e.g., Nequi in Colombia), which is ideal if you don't have a traditional bank account. The process involves linking and validating your identity on the platform, and the transfer to your wallet is usually subject to certain fees. Another alternative is international multi-currency accounts (such as Wise), which act as a bridge account and allow you to withdraw money later to your local bank or keep it in another currency.
However, in most countries, cannot be withdrawn directly in cash from PayPal except through compatible debit cards and as long as the issuing entity allows it.
Frequently asked questions about PayPal withdrawals
- What is the minimum and maximum withdrawal amount? It depends on the method and account type, but standard bank transfers typically have no minimum; instant transfers may have a daily maximum (for example, $5.000). Check your account limits.
- When will I see the money reflected? Standard delivery takes 1 to 3 business days; instant delivery takes minutes; check delivery takes 5 to 10 business days.
- What happens if the transfer fails? The money goes back to PayPal, and depending on the reason, a small processing fee may be deducted from the amount.
- Does PayPal always charge a fee when withdrawing money? Not always. It depends on the method and currency matching. Check the details before confirming.
- Can I link multiple bank accounts or cards? Yes, you can have several partners and choose from them for each retreat.
- What should I do if I receive a payment in a currency other than my bank's? It is recommended to open an account in that currency (Wise or other banks) to avoid automatic conversion and save fees.
- Can withdrawals be made to third-party accounts or cards? No, for security reasons, you can only transfer to accounts and cards in your name that are verified with PayPal.
PayPal remains one of the most comprehensive, fastest, and secure options for managing online collections and payments, as well as for withdrawing money in multiple ways tailored to each user and region. By understanding the methods, times, and fees, as well as tips for optimizing your transfers, you can get the most out of your digital money and keep your personal or business finances perfectly controlled and secure.
