How to receive money from Remitly in the UK
Follow our step-by-step guide to receiving money via Remitly in the UK. Learn about payout methods, required details, and how to track your transfer securely.
How to withdraw money from PayPal (2026)
Got a balance sitting in your PayPal account? Whether it's from selling something online, receiving a refund, or getting paid by a client, you'll probably want to move that money into your bank account at some point.
Here's how to withdraw money from PayPal in the UK — including the steps, fees, limits, and what to do if you hold balances in different currencies.
How to withdraw money from PayPal to a bank account
You can withdraw money from PayPal through their website or app. There are two transfer types to choose from: Standard and Instant. Both are free for UK withdrawals without currency conversion. [1]
On the PayPal website:
- Go to paypal.com and log in
- Click Wallet
- Select Transfer Money, then Withdraw from PayPal to your bank account
- Choose your linked bank account
- Select Instant (Free) or Standard (Free)
- Follow the instructions to confirm
On the PayPal app:
- Tap your PayPal balance
- Tap Transfer Money
- Follow the instructions
The app method is quicker — just a couple of taps and you're done. [1]
Tips before you withdraw
A few things worth knowing before you hit that transfer button:
- Name matching matters. The name on your bank account needs to match the name on your PayPal account exactly. Otherwise, the transfer could fail. [5]
- You can't cancel a withdrawal. Once you've submitted it, it's done. [5]
- Local currency only. PayPal only supports withdrawals in local currency. If you're withdrawing a foreign currency balance to a GBP bank account, PayPal will convert it — and charge a conversion fee. [3]
How to link your bank account with PayPal
You'll need a linked bank account before you can withdraw.
On the website:
- Go to Wallet
- Select Link bank
- Follow the instructions
On the app:
- Go to Wallet
- Tap + next to Banks and cards
- Tap the Banks section
- Follow the instructions
You can also link your bank account instantly by logging in through your bank's online banking. [2]
How long does it take, and what are the limits?
Transfer times and limits depend on whether you choose Standard or Instant.
| Standard transfer | Instant transfer | |
|---|---|---|
| Speed | 3–5 working days (sometimes longer) | Usually a few minutes (up to 30 mins) |
| Eligible destinations | Bank account | Bank account or eligible debit card |
| Minimum withdrawal | N/A | £1.00 |
| Max per transaction | Varies by account | £1,500 |
| Max per day | N/A | £7,500 |
| Max per week | N/A | £7,500 |
| Max per month | N/A | £7,500 |
Limits may vary depending on your account status and verification level. [4][5]
PayPal fees for withdrawals
For straightforward UK withdrawals without currency conversion, PayPal doesn't charge a fee. Here's a breakdown:
| Withdrawal type | Fee |
|---|---|
| To a UK bank account (GBP) | Free |
| To an eligible UK debit card (GBP) | Free |
| To a US bank account (from UK PayPal) | Up to 3% |
| With currency conversion | Currency conversion fee applies |
PayPal's currency conversion fee varies depending on the currencies involved. You can check the exact fee on PayPal's consumer fees page. [3]
PayPal exchange rates and currency conversion
If you hold a PayPal balance in a currency other than GBP and withdraw it to a UK bank account, PayPal will convert it automatically.
PayPal calculates its exchange rate by adding a currency conversion fee to a base rate. The base rate is drawn from wholesale currency market rates on the day of conversion. The conversion fee is set separately for each currency pair. [3]
In short: you won't get the mid-market exchange rate. PayPal adds a margin on top. The size of that margin depends on the currencies involved — you can check the current rate using PayPal's currency converter tool. [5]
Managing multi-currency withdrawals with Wise
If you regularly receive PayPal payments in currencies other than GBP, there's a way to avoid PayPal's currency conversion altogether.
With a Wise account, you get local account details in 10+ currencies — including USD, EUR, and AUD. That means you can withdraw your USD PayPal balance directly to your US account details from Wise, keeping it in dollars. No conversion needed on PayPal's side.
When you do want to convert to GBP, Wise uses the mid-market exchange rate and charges a small, transparent fee. You can also spend directly from your Wise account using the Wise card in 40+ currencies. [6]
Please see the Terms of Use for your region or visit Wise fees & pricing for the most up-to-date pricing and fee information.
Frequently asked questions
What is the easiest way to withdraw money from PayPal?
The PayPal app. Tap your balance, tap Transfer Money, and follow the prompts. It takes about 30 seconds, and if you choose Instant transfer, the money can arrive in minutes. [1][4]
How can I cash out my money on PayPal?
Withdraw your balance to a linked UK bank account or eligible debit card. From there, you can spend it, transfer it, or withdraw cash from an ATM. [1]
Can you withdraw money from PayPal into real money?
Yes. When you withdraw your PayPal balance to your bank account, it becomes regular funds you can access like any other money. [1]
Why can't I withdraw money out of PayPal?
There are a few common reasons:
- Your account isn't fully verified
- The name on your bank account doesn't match your PayPal account
- Your account has a limitation or hold on it
- There's a pending transaction that hasn't cleared yet
If none of these apply, log in to your PayPal account and contact support. [5]
Please see terms of use and product availability for your region or visit Wise fees and pricing for the most up to date pricing and fee information.
This publication is provided for general information purposes and does not constitute legal, tax or other professional advice from Wise Payments Limited or its affiliates.
We make no representations, warranties or guarantees that the content is accurate, complete or up to date.
Open a Wise Business account online
Sources used:
-
PayPal - How do I withdraw money from my PayPal account?
https://www.paypal.com/uk/cshelp/article/how-do-i-withdraw-money-from-my-paypal-account-help394 -
PayPal - How do I link a bank account to my PayPal account?
https://www.paypal.com/uk/cshelp/article/help183 -
PayPal - Consumer Fees (UK)
https://www.paypal.com/uk/webapps/mpp/paypal-fees -
PayPal - Instant transfer eligibility
https://www.paypal.com/uk/cshelp/article/what-bank-accounts-and-debit-cards-are-eligible-for-instant-transfer-help397 -
PayPal - User Agreement
https://www.paypal.com/rs/legalhub/useragreement-full -
Wise - Terms of Use and product availability
https://wise.com/en/legal/terms-and-conditions
Sources checked 1 April 2026.
*Please see terms of use and product availability for your region or visit Wise fees and pricing for the most up to date pricing and fee information.
This publication is provided for general information purposes and does not constitute legal, tax or other professional advice from Wise Payments Limited or its subsidiaries and its affiliates, and it is not intended as a substitute for obtaining advice from a financial advisor or any other professional.
We make no representations, warranties or guarantees, whether expressed or implied, that the content in the publication is accurate, complete or up to date.
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