How to Add Money to PayPal
PayPal does not require you to keep money in your account as long as your linked bank account works, but a PayPal account with easily accessible cash can simplify and speed up payments. However, if you’re using PayPal, you might choose to hold a balance within your account. This can be handy for sending money to friends and family, or for paying for goods and services online.
PayPal is an electronic payment service that has been in use for over 20 years. PayPal lets you send and receive money online easily. However, before you can use the service you have to know how to add money to PayPal.
Moreover, PayPal is an efficient service, as long as you always make sure to have a cushion of money in your account. Not having enough cash in your PayPal balance can lead to late payments or prevent you from making quick transactions to other accounts.
However, if you want to make sure you have access to immediate funds if you ever need it, pad your PayPal account by adding some money. There are several ways to add money to your PayPal account. Read on to learn more.
How to Add Money to a PayPal Account
PayPal is an online payments service. It allows you to send money from your PayPal balance to someone else’s PayPal account while paying a small fee. Moreover, the service is also integrated with many e-commerce websites, allowing you to make payments for goods and services quickly and easily using your PayPal account.
However, to add and hold money in your PayPal account, you need a PayPal Balance account. Without a Balance account, you can still make payments, but you need to have a linked payment method. When you make a payment the money is taken from your linked bank account or card. You can also receive money without a Balance account.
There are several different methods of how to add money to PayPal Balance. However, if you are new to PayPal, you need to open a cash account before you can start adding a balance to your account.
1. Add money from your bank account
PayPal recommends linking your bank account with your PayPal account so that you can make payments quickly and simply. You can add money to your PayPal Balance account by doing an electronic funds transfer from your bank account.
Follow these steps to top-up your PayPal cash balance using your linked bank account:
Most importantly, to add money to your PayPal account from your bank account, you first need to have a PayPal Balance account (no fees to set up an account) to be able to successfully complete this process. The name on your PayPal account needs to match the name on your bank account. If not, transfers between your bank account and PayPal account will fail.
- Log in to your PayPal account
- Click Wallet at the top of the page
- Click Transfer Money situated under your PayPal balance on the summary home page.
- On the next page, click Add Money to Your Balance
- Select your bank
- Enter the amount of money you want to transfer
- Click Add.
A bank transfer will take about 3 to 5 business days for your money to appear in your PayPal balance. You will receive an email from PayPal to let you know when the transfer is complete. Moreover, PayPal does not charge any fees for this service. However, your bank may charge you fees for transfers.
2. Add money from a debit card
You don’t need to add money directly to your PayPal balance using a bank card to pay for purchases or send money to a friend. Rather, the next time you make a transaction, PayPal can debit the money from your card.
However, you cannot use a debit card to add money to your PayPal Balance account. You can only link a card to your PayPal account so that when you make a payment, the money is automatically taken from your linked debit card. That is to say, if you link a card to your PayPal account, you won’t need a balance to send money to people or pay for things.
Follow these steps to link a debit card to your PayPal account:
- Log in to your PayPal account
- Click the Wallet button at the top of the page
- Click the button labeled Link a Debit or Credit Card on the left side of the screen
- Follow the on-screen instructions to finish linking your card.
Please note that your bank may require you to complete additional steps for security purposes when linking your card. You may be required by your bank to complete 3D secure or biometric authentication processes. To confirm that it is you doing the transaction, you will be asked to enter a code sent via a Two Factor Authentication (2FA) method. Usually, it is a message sent to your mobile phone.
3. Receive money from friends and family into your PayPal account
Another way to add money to your PayPal Balance account is to give cash to someone you know then ask them to transfer an equivalent amount from their PayPal account to yours.
This method is particularly useful if you can’t add money into your PayPal account using a bank account. Moreover, it’s free to receive personal payments into your PayPal account provided that the sender uses a bank account, debit card, or their PayPal balance, and as long as no currency conversion is involved. You can even send a money request or invoice.
Alternatively, to top-up your PayPal balance online you can get your friends and family to send you money through PayPal. Money sent to your account will automatically be added to your PayPal balance. Receiving money is easy, just make sure that the sender has the email address linked to your PayPal account. This will certify that the money is sent on time and to the right account.
However, it is important to only ever use this method with people you trust completely. It is very easy to get scammed if you give money to a stranger or someone you don’t fully trust, hoping they will send money to your PayPal account.
How to Add Money into the PayPal App
You can use the PayPal smartphone app to add money to your PayPal Balance account. Designed specifically to make topping up your PayPal balance easy. The app is available both on the Apple App Store and on Google Play.
If you’re topping up your balance using the PayPal app, you can simply tap your balance and select ‘Add Money. Then, follow any instructions on-screen, such as selecting a bank account to fund the payment and entering the amount you want to transfer.
Moreover, you can cash a check, add cash at a retail store, or link a debit card to make payments directly from the card. Furthermore, the instructions for each method are shown below:
Deposit a Check
You can use the PayPal app combined with the camera on your phone to cash a check directly into your PayPal account. Follow the instruction below to do so:
- Open the PayPal App
- Tap the Wallet button
- Select Cash a Check
- Then, take a photo of the front and back of the check then tap Next
- Choose how quickly you want to have the money (in 10 days or immediately).
- If the transaction is successful you will have access to the money within the time you specified.
You can use the PayPal app to add cash to your account at participating store locations in the United States. The following retailers support this service:
- Dollar General
- Office Depot
- Family Dollar.
Moreover, the instructions below explain how to add cash to your PayPal Balance account in-store.
- Open the PayPal App
- Tap the Wallet button
- Tap Add Cash at Stores
- Choose the store you want to use from the list to generate a barcode
- At checkout, ask the cashier to add cash to PayPal and show them the barcode
- Give the cashier the money you want to add.
Once the transaction is complete the money will be available in your PayPal account in a few minutes.
Link a Debit Card
Linking a debit card lets you send money and make payments without any money in your PayPal Balance. Instead, the money is taken directly from the linked card.
Why you’re unable to add money to your PayPal balance
If you keep trying to add money to your PayPal account but the transfer isn’t going through, it could be because:
- You haven’t set up a PayPal Cash or PayPal Cash Plus account
- There is a limitation placed on your account
- The feature you’re trying to use is not available for your region or country.
In conclusion, there are considerable ways you can choose how to fund PayPal. You can transfer money directly from a bank account, via a friend or family member, or you can use the smartphone app to cash a check or add cash at a retail store. You can also link a credit or debit card which gets used whenever you make payments or send cash.
Though PayPal is a convenient way for individuals to pay for goods and services online, as well as make or receive transfers, it is certainly not the best option if you are a business owner. Moreover. there are no fees when you transfer money to PayPal from your bank, and you can always send it back again.
That’s all you need to know on how to put money into PayPal and top up your account. After reading this guide, you should be all set to transfer from your bank account in just a few clicks, or taps if you’re using the PayPal app.