How do you transfer funds from Paypal to a bank account?

By gems
Philippines
February 16, 2009 10:29pm CST
Finally, I have received an email message regarding my first payout here in mylot. I was looking forward to this since last month (January). I have also checked my Paypal account and I even printed it for souvenir or keepsake. But I'd like to know the step-by-step process on how to transfer this amount to my local bank account. So if anybody here knows how to do this or have done it already, kindly tell me so that I could use this funds to pay-off my loans. Thank you so much in advance.
1 person likes this
3 responses
@lampar (7584)
• United States
5 Mar 09
In order to do that, you need to have a checking account in your bank, you need to know the routing number and your account number to fill in pay pal form, so a deposit link between both can be set up. After you confirm to paypal the amount deposited into your account correctly when you receive notify email from paypal to check your account, you are all set . It is a very simple procedure as long as your information is correct.
1 person likes this
• Philippines
5 Mar 09
Thanks for the information. Fortunately, I was able to successfully transfer the funds from my Paypal account to my local bank account. In fact, I have withdrawn it already.
@youless (112561)
• Guangzhou, China
27 Feb 09
If I want to transfer money to my bank account, Paypal will charge me USD35 and this charge is so expensive. So I opened a bank account in Hong Kong last year. If I transfer money to it when the amount is over USD200, then the charge will be free. So it may sound very complicated. At first I transfer money to my Hong Kong bank account from my Paypal account. And then I have a ATM card and I can withdraw money here. If the bank is the same, I can get cash from the ATM of the branch bank without any charges. I love China
1 person likes this
• Philippines
3 Mar 09
Hi, youless. It's great to see your post once again; just like what you did in my other discussions. Thirty-five (35) dollars is absolutely a great amount. I myself won't pursue transferring funds from Paypal to my bank account, if this was the case. Fortunately, Paypal only charges a dollar, more or less for transaction like this. And compared to the 200 dollars you stated, it will take us only about 140 dollars so that we won't be charged by Paypal. Thanks again.
@Opal26 (17679)
• United States
17 Feb 09
Hi mykmari! I always transfer my funds from my Paypal account directly into my checking account. It is very simple. All you have to do is go to the account part where it says transfer funds and bring the menu down and it will show you where to add funds to bank account. It will ask how much and you have to fill out the form telling what your account number is and once you do that you won't have to do that part again. If you follow it step by step and read carefully it is very simple. The money will be transfered from Paypal directly into your bank account. I have mine transferred into my checking account each pay period with no problem ever! If you have any questions I will try to answer them.
1 person likes this
• Philippines
18 Feb 09
That's clear enough for me and I'm quite relieved to hear that you haven't encountered any problems with Paypal eversince; I just hope that I will find it easy to do, too. I appreciate your response so much, friend.