How to transfer money from PayPal to Revolut?

Have money in your PayPal balance and want to send it to your Revolut account? Perhaps Revolut is your main money account, so you’ll need to direct any PayPal funds there so you can spend them.

Read on, as we’ve put together a handy guide on how to transfer money from PayPal to Revolut. This includes the key steps to follow, and whether there are any fees involved.

If you’ve received a PayPal payment in another currency, you’ll need to watch out for currency conversion fees when sending it to your main account. Send it to a Wise multi-currency account instead, and you could save a bundle. We’ll show you how later.

But first, let’s focus on transferring money in GBP from PayPal to Revolut.

Is it possible to transfer money from PayPal to Revolut?

Yes, you can send money from your PayPal account to your Revolut account.

But before you can do it, you’ll need to link your Revolut account to your PayPal account¹. Once this is done, you can make your first withdrawal from PayPal to Revolut.

How to transfer money from PayPal to Revolut - a step by step guide

Make sure you have your Revolut account details to hand, including your account number and sort code. Then, follow these steps to link your Revolut and PayPal accounts²:

1. Sign into your PayPal account
2. Click ‘Wallet’ at the top of the page (or in the app)
3. Select ‘Link a bank’ or ‘Add a bank account’
4. Follow the on-screen steps to enter your Revolut account details
5. Review the information and confirm
6. You may be asked to complete some additional security steps. PayPal will deposit 1p in your Revolut account, and this deposit will be accompanied by a 4-digit code on your statement. You’ll need to enter this in your PayPal wallet to confirm your new bank account.

Once your Revolut bank account is successfully linked to PayPal, you should then be able to withdraw funds to it. Head back to ‘Wallet’, select ‘Transfer money’ and choose your Revolut account from the list of withdrawal options.

Are there any fees involved?

As long as there isn’t any currency conversion involved, you shouldn’t pay a fee to send money from PayPal to Revolut³.

So, this means you can send a PayPal balance in GBP to a Revolut account in GBP. Both accounts need to have been opened in the UK.

If you are sending PayPal funds in a different currency to your Revolut account, PayPal is likely to charge fees - which vary depending on the currency.

Send money from PayPal to Wise and swerve currency conversion fees

If you’ve received money in your PayPal balance in a foreign currency, pause before sending it straight to your Revolut account.

If you do that, the money will need to be converted to GBP and PayPal will charge a fee. It is also likely to use an exchange rate with a mark-up added on top, which makes the whole transfer more expensive for you.

Luckily, there’s a better solution - send it to Wise instead.

Open a Wise multi-currency account online and you can get local account details in major currencies such as USD, EUR and AUD. If you match the currencies, PayPal will have no need to convert your money. You can get paid into your local Wise account (after linking it to PayPal) for free.

Then, when you’re ready to convert it into GBP, you can take advantage of Wise’s low currency conversion fees⁴ and mid-market exchange rates. These have no mark-up on top, so it’s cheaper for you.

⁴ Please see the Terms of Use for your region or visit Wise fees & pricing for the most up-to-date information on pricing and fees

Sources used:

Sources last checked on date: 06-Feb-2023