How to withdraw your money from your paypal account?

@dpauli (408)
Indonesia
August 28, 2009 11:08am CST
I've never had a paypal account, just use it few times to pay/shop online, thus only use personal paypal account. Within next month, I'm going to launch my online fashion store and plan to use paypal for one of the pament methods. From my understanding, you need to sign up for Premier account for this purpose, so you can receive money from customer ( I believe this is the account for you guys here in receiving mylot payout? ). Paypal account is associated with our credit card, so how's to withdraw the money received in our paypal account for a real cash? Will it be transfered to our bank account or converted into check or what. Thanks for your time to explain this.
12 responses
@iskayz (5426)
• Philippines
29 Aug 09
Hi there! My Paypal Account is just a Personal Account and with that free account we can already withdraw and buy using our Paypal money but I am a verified member already. I think Premiere or Business account is what you need to be able to access merchant services and use ebay tools to sell accept payment worldwide and be able to withdraw without limit by the number of withdrawals in a year. But there are fees incurred when you want to upgrade your account. You mentioned you wanted to open an online fashion store. I am also planning to open an online craft store. Good thing you mentioned about the personal and premiere accounts cause I have almost forgotten that I needed to upgrade my account first. Your post served as a reminder for me. Ciao!
• Philippines
29 Aug 09
okay... i have had my paypal account for years already...but and it is verified..but i had never withdrawn from it.I just love to see the money pile up.. then when i want to buy something online, i use the balance to pay for my purchases. the reason I dropped by this discussion board is that i don't know how too..coz i haven't tried it.. just in case just in case i want to withdraw money form it one day... at least i got good information
@iskayz (5426)
• Philippines
29 Aug 09
Hi potofgold! I'm glad you've learned something from this discussion. So you're using your paypal money to buy stuffs online. So what stuffs have you bought already? I've never tried buying online.
@kmaram (2537)
• Philippines
28 Aug 09
Hi there, well i verified my account in paypal account using my debit card. After this i am enjoying getting money from Paypal transferred to my local bank here. I withdraw twice already and so far no problem encountered, usually paypal transferred it 2-4 days banking days, well goodluck to you and keep on mylotting
@dpauli (408)
• Indonesia
29 Aug 09
Hi kmaram, can any nternational member apply for paypal debit card, and not limited to several countries only? I wonder at what merchants do we can use the debit card. Is it working like visa or mastercard?
@k4karthik (439)
• India
28 Aug 09
I am not much sure on premium accounts. But i am a verified personnal account holder pf paypal. I using it from past 2 years. I have linked my credit card for verification of account. I also linked my bank account to paypal. So i get money directly transfer into my account. If amount is more than 7000 Indian Rupees then transaction is free and below that is charged with 50Rs. Go to withraw tab and select the payment method.
• India
29 Aug 09
Thanks a lot.......
@taztheone (1727)
• India
28 Aug 09
In fact you don't need a premium account for paypal. The personal account is the best you can get . If you have a premium account, then many sites will charge you for transferring money to it. However the limit of Personal account is small compared to premium account. If you have big money flowing in, say $1000 or more & if you make bigger transactions, you will have to go for premium. Otherwise personal acc is perfect. Once you have the money in paypal, you can transfer to to your bank account or request for a cheque.
• India
29 Aug 09
Thanks a lot for such good information for withdraw money from paypal....thanks again..
• Malaysia
29 Aug 09
I am at a loss here too. What I heard is they will put the cash pay-out through a credit or a debit card.So, once you have the money in your card, you can use it. There is a fee levy of $5 for each draw-down, I am told?. If you are in a country which recognized paypal, then you just withdraw from that.
@raviapts (65)
• India
29 Aug 09
HI Friends!I was using paypal account since one month back,but i didnot get any credits into my account one my friend drawn the amount from his paypal account he entering his account number and he got the money after 3 days Thanking You Happymyloting.
@Realsmack (155)
• United States
29 Aug 09
You can transfer the money to your bank account which is going to take 3 to 5 business days or you can get a paypal debit card. But your account has to be at least 3 months old.
@Fortunata (1137)
• United States
29 Aug 09
It's definitely worth it to get the debit card from them, especially if you don't like to wait for payments to come into your account from other sites or people.
@kb5000 (110)
• United States
28 Aug 09
you just add a bank accout to your paypal account. basically you can tranfer money from your bank account to paypal or the other way around. paypal makes money by charging a fee for withdrawal. for your store, i suggest a creating paypal buttons and put html on your website.
@Kowgirl (3492)
• United States
28 Aug 09
I assume since you are using PayPal as your payment processor on your business website that you will have a business account with them... You can have your money transferred to your bank or you can use your PayPal debit card just like your bank debit card. I use my PayPal Business Card to purchase at stores on-line and off-line. They will pay you to use your PayPal debit card. They do charge a small fee when you receive a payment but they do not charge to have your money transferred to your bank account. It may take a few days when you do a transfer but your money is safe in a business account at PayPal. I have been using them for years.
@neildc (16952)
• Philippines
28 Aug 09
Once you have enrolled you bank account with paypal, you can already withdraw your paypal money and get transferred to your bank. You look somewhere in the site which tells you that you want to withdraw. It takes about 4 days before it gets to your bank. I am not sure if we can do it through checks but it can be transferred, but not sure of this, to your credit card account.
• India
28 Aug 09
hi dear friend you can use this balance to buy some products online etc na