Can I transfer funds between PayPal accounts?

[slrosen]

I have two PayPal accounts - one is personal, the other is business. Can I transfer funds between them? If so, how? Is there a charge for that? Thanks. - Stuart

[TekGems]

You can't transfer directly, but you can use your bank account as an intermediary. Withdraw, wait 3-4 days, Add, wait 3-4 days. I'm curious, why do you want to do this?

[slrosen]

Thanks for the response. To answer your question: My personal and business checking accounts are at two different banks. I can transfer money from the personal bank account to the business bank account, but it costs $3 per transaction, and takes maybe a week to clear.

If I could transfer money from my personal PayPal account (which draws from my personal checking) to my business PayPal account, then I could withdraw that money into my business checking account. If that was cheaper and faster, I'd do it.

It's not a big problem, but I got the idea today and wanted to find out if it was possible.

Thanks again.

-Stuart

[TekGems]

Having a personal and business checking account at the same bank would make transfers between accounts free. Sorry, I misunderstood your question and thus gave you a dumb answer. 😉 I did some search on checking accounts numbers that forward to your final checking account, but I couldn't find anything like you can for virtual credit cards.

How many bank accounts may I add to my PayPal account?

You can link up to 8 bank accounts to your PayPal account. Each bank account can only be linked to one PayPal account at a time.

Linking your bank account to your PayPal account is secure and easy. If you do online banking, you can usually link your bank account in a few minutes.

Once you’ve linked your bank account to your PayPal account, it’s protected when you pay for things. Merchants get paid but they never see your bank information. They won’t even know which bank you use.

[_Zazu]

This is a great question Slrosen and I think I can help.

You can transfer funds between two PayPal accounts that you own, it would follow the same steps as if you were to send money to another person.

When transferring between two accounts you control it's suggest you select Personal Payment and you can notate that you are completing a balance transfer between both accounts. By selecting Personal Payment you are not charged any fee's for the transfer, that is as long as you are moving funds from PayPal balance to PayPal balance.

I hope this helps

- Zazu

[TekGems]

Oh 🙂 does this transfer use the $500 Personal monthly limit?

[_Zazu]

That is an excellent question TekGems and I am glad you asked!

It would count towards the Personal account monthly receiving limit so this is a process that depending on your Business accounts payment volume may only be able to be used sparingly.

[slrosen]

Thanks TekGems and Zazu. To respond to your comments:

• For now, the situation with two different banks isn't going to change. (My business partner has a long relationship with the bank we're using for our business checking.)
• Since I'm using my personal checking for my personal PayPal account, I can't add it to the business PayPal account.
• I'll be transferring between $100-$200 a month, so the $500 limit shouldn't be a problem.

However, I just tried sending money from my personal PP account to my business PP account. I used the Personal tab, and tried each of the 5 sending options, but there was always a fee. (I didn't complete any of the transactions.)

PayPal help says: "It's free within the U.S. to send money to family and friends when you use only your PayPal balance or bank account, or a combination of their PayPal balance and bank account."

I don't understand why I'm being charged the fee. Any ideas?

[TekGems]

Hmm, that is curious. Paypal says you would only pay a fee if the Personal to Business transfer is funded by a credit card or Paypal line of credit, not Balance.

When I tried to send from my Personal PP to Business PP using Personal Tab, Payment Owed, I was able to send without a fee.

How much money did you attempt to transfer and what was the fee?

You are sending from a USA personal account to a USA business account?

Other links about Paypal fees surrounding sending and receiving payments:

https://www.paypal.com/us/cgi-bin/?cmd=_display-fees-outside

https://www.paypal.com/us/cgi-bin/webscr?cmd=_display-receiving-fees