PayPal has made it easy to buy goods and services online and to send money to friends and family. However, you need to have money in your account to do any of these things. The process of transferring money from your selected bank to a PayPal account is easy and free. However, the entire process requires 3 to 5 days to be completed. Therefore, if you are in urgent need of sending money, buying products or paying for services using your PayPal account, this could be a downside. You can either use the PayPal mobile app or the PayPal website depending on your preference. Here are the steps you need to follow when transferring money from your bank to a PayPal account using the PayPal mobile app or the PayPal website:
Adding money via the PayPal mobile App
Launch the PayPal mobile app and then log in to your account. After you’ve logged in, you will arrive at your account’s home screen. To know your PayPal balance, tap ‘Manage Balance’ on your account’s home screen. The Manage Balance section is found at the top of your account’s home screen and it’s where your PayPal balance is displayed.
Selecting the right transfer option
Along the bottom of the PayPal balance screen, tap ‘Add Money’. You will see several options that you can use to add money to your PayPal account. You are supposed to choose ‘Add From Your Bank’ option. You will get a screen that prompts you to enter the amount you wish to transfer. After you’ve entered the amount you wish to transfer (in dollars), tap ‘Next’ at the bottom of the screen.
Select the bank account and amount to transfer
To choose the bank account you wish to transfer money from, tap the ‘From’ section and then choose. You will have to tap ‘Add to Your Balance’ after choosing the balance to finalize the process. You will get a screen that has a white checkmark to confirm that you have completed the transaction. Tap ‘Done’ to return to your PayPal’s home screen. Remember, you will have to wait for 3-5 days for the funds to be transferred into your account. When the transaction is complete, you will get an email notification.
Adding money via the PayPal website
Open your browser of choice and then navigate to PayPal.com. Log in to your PayPal account using your username and password. After logging in, you will arrive at the home screen. On the left side of the home screen, you will see ‘Add Money’ link in the PayPal balance option. Click the ‘Add Money’ option to get the Add Money screen.
Select the bank account and amount to transfer
If you have several bank accounts linked to your PayPal account, click the drop-down box to select the bank account you wish to transfer money from to your PayPal account. Enter the amount you wish to transfer, review the information to ensure it’s correct and then click the ‘Add’ button. You will get a money added screen that has a green mark to notify you that you have successfully added money to your PayPal account. Click the ‘Go-To Summary Button’ to return to your PayPal’s home page. The money you have added will appear as pending. The transaction takes 3-5 days to be completed depending on certain factors e.g. your selected bank. You will get an email notification after the transfer of funds is complete.
