Paypal Payment: How to withdraw your Paypal funds

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Posted by Felix Okoli on Saturday February 26, 2011 at 9:27:41:

Got some funds in your Paypal account and you are already inching to withdraw from it? Well Paypal offers several options for users to cash out their Paypal funds into real money. When your money is helpd by Paypal, it is still in virtual form, you can only see it but can't actually feel it.If you have had an account with Paypal for long and has received a lot of online transfers into it, a time comes when you will ultimately want to make a withdrawal from your account. That time comes when you expect a payment from Paypal.
Now how do you go about getting your funds withdrawn? How much will it cost? What are the restrictions? How long will it take? There are several questions Paypal users would want answered when it comes to withdrawing from Paypal since it is not a regular activity.

Here is what Paypal withdrawals look like
- You log into your account and view your account balance
- Go to Profile > Add or Edit Bank Account
- Add your bank details if you haven't set it up before (You can get details on bank codes from your bank website of by calling them)
- Review the details and confirm by clicking on "Add bank account"

Note: Your name should match exactly as the names you bank account is opened with

The steps above are necessary only if you have not added your bank account before and it is only for banks in paypal withdrawing countries. While some countries can receive paypal funds but not withdraw to a local bank, others can do both.
SO after your bank details must have been setup, the next thing to do is the ACTUAL WITHDRAWAL from Paypal to bank:

How to withdraw:
- Go to My Account > Withdraw.
- Click the Withdraw funds to your bank account link.
- Put the withdrawal amount and select the bank account where money will be transferred.
- Review the transfer details and press Submit button to confirm your withdrawal request.
- You will receive a feedback on the status of your request

Fees associated with getting Paypal payments
When a Paypal user makes a withdrawal from the network, Paypal normally charges a fee on that order and you could find more details about that here: https://www.paypal.com/cgi-bin/webscr?cmd=_display-withdrawal-fees-outside
In the US however, the fees on withdrawal are zero if the bank is located in the US so it is somehow good news for some Paypal countries who may only withdraw to a US bank account.Also for the UK is is free if it is just an electronic transfer that is not the faster option. For other countries, the fees range from China to Australia or Brazil.

Withdrawing from non-paying Paypal countries
Now how about those countries in Africa like Kenya and South Africa which are allowed to use Paypal but are not able to withdraw to a local bank? How do you get Paypal to pay you when you can't send the funds to your country directly from Paypal?
Well the thing is that there are several options around this on how you could convert your paypal funds to cash in your residing country. You could swap it with a Paypal exchanger, use it to buy stuff online or withdraw it to a US bank account for later transfer to your account or withdrawal from an Atm card after the bank withdrawal. The process of getting paypal payments in such countries are not usually direct and is normally an extra burden to Paypal users in their countries.

Comments:
i want to start online survey and it need paypal account i need all ur help on it pls Posted by ajayi folorunso joseph on Friday April 8, 2011 at 10:8:32:

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Re: Paypal Payment: How to withdraw your Paypal funds Posted by Felix Okoli on Wednesday August 31, 2011 at 8:39:12:

Perhaps you can try getting an account in African countries like Kenya, Niger or South Africa. You may also try Paypal agents in Nigeria and there are a lot of them that can help you get your account verified