How to send money to PayPal for your payments

Sending money to PayPal? Here's everything you need to do. (P.S. If you're making international payments, we recommend switching to Xe instead.)

Xe Consumer

December 11, 20206 min read

Sending money to PayPal

Once you sign up on PayPal, the next phase is usually to send money to your PayPal account for payments. This is mostly important if you want to pay an employee or a contractor for their work or services, to send money to your friends or loved ones, or if you enjoy shopping online. Most of the leading e-commerce firms across the world offer PayPal as a payment option.  

We’ve previously provided content on PayPal payments and how they could potentially be adding additional costs to what you’re already paying. We encourage you to check that out when you have time. But for now, let’s talk about sending money.

How to send money to PayPal from your bank account

You can either send money to your PayPal account directly from your bank account or with your credit card or debit card. Before you can send money to your PayPal account directly from your bank account, you’re required to link your bank account to your PayPal account. If you’re yet to do so, we’ll explain how to do so later on in this article. 

However, if you have linked your bank account to your PayPal account, below is how to send money to PayPal for payments:

  1. Log in to your PayPal account.

  2. Click on Add money (it’s below your PayPal balance).

  3. Select your bank account.

  4. Your bank account must be in the same name as your PayPal account.

  5. Enter the specific amount of money you want to transfer.

  6. Click Add.

  7. Review the transfer details to ensure it’s what you want.

  8. Click on Submit.

The transferred amount of money will be in your PayPal balance within 3–5 business days, without paying any fee. However, if you want the funds to be sent to your PayPal account instantly, you’ll have to pay a fee.

How to send money to PayPal from your credit card or debit card 

Rather than send money directly from your bank account to your PayPal balance, you can link a credit card or a debit card to your PayPal account. So, whenever you make a transaction such as paying for an item you bought online or send some money to your friends, PayPal can easily debit the money from either your linked credit card or debit card. 

The benefit of linking your cards to your PayPal account is that you’re not required to have a balance in your PayPal account to make payments or send money to people. You can add multiple cards to your PayPal account. However, you can only use the cards on one PayPal account at a time. 

Here’s how to link a credit card or a debit card to your PayPal account: 

  1. Log in to your PayPal account.

  2. Go to your Wallet.

  3. Click on Link a debit or credit card.

  4. Follow the instructions on your screen.

PayPal will connect the linked card to your account instantly without a fee. 

How to link a bank account to your PayPal account 

As mentioned previously, to send money directly from your bank account to your PayPal account, you’re required to link your bank account to your PayPal account. You’ll have to make sure that your bank account name and your PayPal name are the same. 

Here’s how to link both accounts: 

  1. Login to your PayPal account.

  2. Click on Wallet at the top of the page.

  3. If you’re using a mobile device, tap Menu then click on Wallet.

  4. Click on Link a bank account.

  5. Select your bank from the options available.

  6. If you don’t see your bank, click on Don't see your bank? at the bottom

You may be able to link your bank to your PayPal account instantly by using your online banking login details. But this depends on the bank you select. However, if the instant linking option isn’t available for your bank, you’ll have to enter your bank account details all by yourself and then click on Agree and Link

How to link your bank account to PayPal instantly 

After selecting your bank, enter your online banking user ID and password. PayPal will verify the login credentials with your bank to validate that you own the account. If both information match correctly, PayPal will confirm your bank account instantly. 

How to link your bank account to PayPal manually 

If you select the option of entering your bank account manually to link it to PayPal, you’ll be required to confirm it too. You have to confirm your bank account before you can use it for payments or add money to your PayPal account. 

As part of the verification process, PayPal may conduct a transaction on your account (between $0.01 and $0.99 USD) deducted and sent back to your account. Most often, you’ll receive two of such transactions from PayPal. 

Some banks combine both deposits into one. All you have to do is check your bank statement to find out the exact amount and then use it to complete the account confirmation process. 

Follow these steps: 

  • Login to your PayPal account.

  • Click on Wallet at the top of the page.

  • Select the bank you intend to confirm.

  • Enter the precise amounts of the deposits PayPal made on your account.

  • Click on Submit.

It’s up to PayPal to confirm and link your bank account. 

Once you link your bank account, credit card or debit card to your PayPal account the next step is to start making payments or do any other transaction using your PayPal. 

How to send payments using PayPal 

Making payments with PayPal is easy and convenient. Whether you’re shopping online, paying an employee, or sending some money to a friend, or loved one, PayPal transactions are as easy as payments can be. 

Here’s how to send payments via PayPal:

  • Login to your PayPal account.

  • Click on Send and request at the top of the page.

  • Select the type of payment you intend to make.

  • Enter the amount and the recipient’s email address (the recipient’s email address must be the same one they use on PayPal).

  • Select the payment type and click on Continue.

  • Review the payment details and click on Send Money.

If you have some amount of money left in your PayPal balance, the amount of money you transferred will be deducted from it. If the balance isn’t enough, the remaining amount will be debited from your linked credit card, debit card, or bank account. 

However, if you’re yet to create a PayPal account, you can still make payments with PayPal via your debit card or credit card if the recipient such as a retail store accepts PayPal as a payment option. 

Looking for an affordable international money transfer service? Consider using Xe instead of PayPal

As we mentioned previously, Paypal often charges hefty fees for many types of transactions, and you may not be aware of these fees until you’ve already been charged, making it not the most cost-effective options if you need to send money overseas and convert your currency. If you need an affordable international money transfer service, Xe is a dependable option that provides competitive exchange rates and no hidden fees, so you can save on your transactions. Sign up to get started today and see what you can save.