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How do i transfer balance from my paypal to my bank account?

I have been selling stuff on ebay and today when i got a mini statement at the bank did i realised nothing had been payed in. I thought the money i made would go in automatically through my paypal no? Well anyway it says my paypal balance is £60 does this mean this money has still not been payed into my bank account and if not how do i transfer it to my bank account, no paypal help questions seem to help. thanks

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6 Responses to “How do i transfer balance from my paypal to my bank account?”

  1. Gary said :

    the money will stay in your paypal account until you transfer it you just simply go onto the paypal account select transfer funds and put them in your bank account i think it takes up to 7 days to proccess

  2. CRAZYFROMLA said :

    You need to enter your banking information (acct.#, routing number, ABA #, if a checking acct).

    It takes a few days for them to verify everything and you have to confirm a couple e-deposits to confirm that it is, in fact, your acct.

    EDIT:OK….once you have gotten past all that. PayPal will remember your banking info and when you are ready just click the pulldown menu under ‘Withdraw’ and “Transfer Funds’ (Send a check should be the other option below).

  3. friendly person said :

    Log on to Paypal and when you get to the funds click on Withdraw and transfer it to your bank account, takes about 3 to 5 days

  4. Glaux said :

    I think this is not good enough for businesses. I take a lot of payments via Paypal on my website and also use Paypal regularly for my business expenses. Unfortunately this makes my book keeping a nightmare: when I get paid by Paypal the money goes into the Paypal “pot”, so the transaction doesn’t appear on my bank statement. If I then make a business-related payment via Paypal, that transaction also doesn’t appear on my statement because the money comes out of the Paypal pot.
    Of course I can transfer the rest of the pot money to my bank account, but that makes it much harder to make sense of my books because instead of matching individual transactions to the relevant invoices/receipts, I’m having to enter a generic “Paypal transfer” into the books, with no clear reference to who or what the money came from. So I’m forced to also print my Paypal statements and hope that my accountant will be able to make sense of it all. This means heavier accountancy fees for my business. All I want is the ability to set up Paypal so that any money I get paid goes straight into my account instead of being kept on Paypal, and for all the payments I make to come straight out of my bank account.
    I use Paypal because it allows me to accept credit card payments without having to apply for a merchant account and worrying about storing customers’ card details. However, not having the automatic withdraw feature is in my view a major issue that Paypal needs to address urgently.
    I read about something called Paypal auto-sweep that supposedly does soemthing like that, but it doesn’t seem to be a service available to British users.
    Is there really no other way of setting this up so it will do what I need?

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