How Long Does It Take to Get Paid From PayPal?

by Carl Carabelli, Demand Media

    PayPal is a service that allows you to send and receive payments through a single web-based account. When you run a business or work for a company that processes its payments using the PayPal service, a number of factors can affect the time it takes to actually receive the money.

    Setting Up Your Account

    You can’t get paid from PayPal until you actually set up an account. The process is relatively easy. Navigate to the PayPal website and select “Sign Up” in the upper right hand corner. You fill out a form with your basic information. You can select the option to create an account for personal or business use. If you choose the business account, you can link to PayPal directly from your website so you can receive payments quickly. Once the account is set up, the speed with which you can access the funds will be further determined by how to choose to receive them.

    Linked Bank Accounts

    You can link your PayPal profile to your checking or savings account. When linked, you will receive your money within three to four days of requesting a transfer. To link your bank account, log on to PayPal and click “Profile,” then “My Money,” and then “Add my Bank.” Enter and submit the account information. PayPal makes two very small deposits into the designated account. Once you confirm these amounts, your account will be linked, and you can access your money within a few business days.

    PayPal Debit Card

    PayPal has another option to access your money even more quickly. If you apply and are approved for a PayPal debit MasterCard, your funds will be available as soon as the money is deposited to your PayPal account. You can access up to $400 per day using the card at any ATM and you can also make debit card purchases wherever MasterCard is accepted. The downside to the instant access is that you face any ATM surcharges that might apply when accessing the cash. Alternatively, you can request that PayPal mail you a check, but this will take several business days depending on the speed of your postal service. It will also carry a $1.50 charge.

    Holds

    If your business involves selling items, PayPal can hold the funds for up to 21 days. It does this to ensure that there are no problems or disputes with the order. You will see the balance as pending, but you won’t be able to access it until the hold is released. Additionally, sites like eBay can hold your money pending receipt of buyer feedback. Once you reach a certain level of positive feedback, you will be able to access your funds without delay. Until then, be aware that you can be subject to holds delaying your PayPal payments.

    About the Author

    Carl Carabelli has been writing in various capacities for more than 15 years. He has utilized his creative writing skills to enhance his other ventures such as financial analysis, copywriting and contributing various articles and opinion pieces. Carabelli earned a bachelor's degree in communications from Seton Hall and has worked in banking, notably commercial lending, since 2001.