Withdraw money from PayPal Singapore: Fees and process

Hannes Ausmees

If you’re a PayPal Singapore customer and hold a balance in your PayPal account, you may be wondering what you can do with the money. Of course, you can hold the balance until the next time you need to shop or send a payment to friends who use PayPal. But you can also withdraw your PayPal balance to a bank account or eligible debit card.

This guide covers all you need to know about how to make a PayPal to bank account withdrawal, including the fees, options and the time it’ll take.

And because PayPal isn’t always the best option for making payments and transacting in foreign currencies, we’ll also cover how you can cut your international spending and transfer costs with a Wise multi-currency account. Let’s dive right in.

Learn more about Wise here 📖

📝Table of contents:

How to withdraw money from PayPal

If you have funds in your PayPal account and want to access them you can arrange a standard PayPal transfer to bank account - using the account you’ve linked to PayPal already. You can also get your money faster by using a transfer to your debit card - but there’s a fee for that service. It’s worth noting that you can’t withdraw PayPal funds to a credit card - and once you have started the withdrawal process it can’t be cancelled.

If you choose a standard transfer it’ll probably take 3 - 5 business days to arrive. Withdrawing to a debit card can take as little as 30 minutes.

There may be fees to pay, depending on how you choose to withdraw your money from your PayPal Singapore account - more on that later.

How to transfer money from PayPal to bank account in Singapore

You can make a PayPal to bank account - or PayPal to debit card - transfer easily online or in the PayPal app. Here’s how¹:

On your laptop:

  • Log into your PayPal account and go to Wallet
  • Select Transfer Funds, and then Transfer to your bank account
  • You’ll be prompted to select the linked account you want to use and complete the details of the withdrawal
  • Check over everything once you’re done and hit confirm to complete the withdrawal

In the PayPal app:

  • Open the PayPal app and select PayPal Balance which is on the home screen
  • Select the Withdraw funds option
  • Follow the onscreen prompts to select the linked account you want to use how much to withdraw
  • Check over everything once you’re done and hit confirm to complete the withdrawal

Sending or receiving money internationally? Meet Wise

PayPal has some great services for customers, but the costs when sending or spending in a foreign currency can be on the high side.

Choose Wise when you need currency conversion - for sending to friends, settling international invoices, or shopping online with overseas ecommerce stores - and you can save versus PayPal and major Singapore banks.

Open your Wise multi-currency account for free online and you can send payments all over the world using the real mid-market exchange rate and a low transparent conversion fee. You’ll be able to hold and handle 40+ currencies in your Wise account, to make and receive payments - and you’ll get your own local receiving account details to get paid fee free from a range of major world currencies.

Whether you’re at home or abroad you can spend with your linked Wise card, with a physical card for in person payment and Google Pay and Apple Pay compatibility for mobile payments. No hidden fees. No surprises, just simple, low cost international payments for less.

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Is it possible to withdraw money from PayPal without a bank account?

You can’t withdraw money from PayPal without a bank account. You can only usually make withdrawals to a SGD or USD denominated bank account, or an eligible debit card.

PayPal withdrawal fees: What are they?

The cost to make a PayPal to bank account withdrawal will depend on the specifics of the transaction. If you hold your PayPal balance in a foreign currency you’ll need to convert it before or at the point of transferring it - which comes with a fee.

You’ll also pay if you want to get your money faster, with a charge to have your balance withdrawn to a debit card instead of your regular bank account.

Let’s take a look at the PayPal bank and card withdrawal fees for Singapore.

Withdrawal type PayPal Singapore fee²
Withdraw funds to your local eligible card 1% of amount transferred, to a maximum of 15 SGD
Withdraw funds to a USD bank account 3% + any applicable currency conversion fee
Convert your PayPal balance to a different currency for withdrawal 3% - 4% currency conversion fee will apply

Consider PayPal’s currency conversion fee when withdrawing money

If you hold a balance in a foreign currency in your PayPal account, it’s important to consider the exchange rate being used when you need to withdraw money from PayPal.

You might have a foreign currency balance because a friend has sent you a payment from overseas - or if you’ve had a refund from an international ecommerce seller who has sent the money over in their own currency instead of SGD. You can only withdraw your funds from PayPal to a Singapore dollar or US dollar bank account - which means you’ll need to switch currencies if you hold any other balance - and that comes with a PayPal fee.

The PayPal currency conversion fee for withdrawals is usually 3%, which is added as a markup on the exchange rate used. That means you won’t get the rate you find on Google or using an online currency converter - and can get less than you expect in the end when your payment arrives in your bank account.

Make sure you know the full cost of making a PayPal to bank transfer - particularly if you’ll need currency conversion along the way. And don’t forget - if you need to send, spend or receive foreign currencies you could be better off with a free online Wise multi-currency account.

The true cost of sending SGD to USD


  1. PayPal Singapore Help Centre - How do I withdraw money from my PayPal account balance?
  2. PayPal User Agreement

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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