Can You Withdraw Money From an ATM With PayPal?
Unlock the process of accessing your PayPal funds as cash at ATMs. Understand the direct methods, associated costs, and other ways to utilize your balance.
It is possible to withdraw cash from an ATM using your PayPal account, primarily through the use of the PayPal Debit Card. This card provides a convenient method for accessing your PayPal balance in physical currency, functioning much like a standard bank debit card.
Using the PayPal Debit Card for ATM Withdrawals
The PayPal Debit Card is the primary tool for withdrawing cash from an ATM. To initiate a withdrawal, insert your PayPal Debit Card into the ATM terminal. You will be prompted to enter your Personal Identification Number (PIN).
Navigate the ATM menu to select the “withdrawal” option. Choose “checking” as the account type, as the PayPal Debit Card is linked to your PayPal Balance account. Input the desired cash amount, ensuring it is within your available balance and daily limits. The ATM will dispense the cash. The PayPal Debit Card is widely accepted at ATMs displaying the Mastercard, Cirrus, Pulse, or MoneyPass acceptance marks.
Understanding Withdrawal Limits and Fees
When using the PayPal Debit Card at an ATM, specific limits and fees apply. The typical daily ATM withdrawal limit for most users is $400 USD. This limit resets every 24 hours and can vary depending on your account type, verification status, and the individual ATM operator’s restrictions.
Regarding fees, PayPal does not charge a fee for cash withdrawals made at MoneyPass ATMs within the United States. However, a $2.50 fee is assessed by PayPal for each withdrawal made at non-MoneyPass ATMs in the U.S.. Beyond PayPal’s fees, the owner of the ATM may impose their own surcharge, which is separate from any fees charged by PayPal. To avoid these additional charges, it is advisable to locate and use ATMs that are part of the MoneyPass network, as these are typically surcharge-free.
Other Ways to Access PayPal Funds
Beyond ATM withdrawals, several other methods exist for accessing funds held within your PayPal account. Transfer funds directly to a linked bank account. Standard transfers are free and generally process within one to three business days.
For faster access, PayPal offers an instant transfer service to a linked bank account or eligible debit card. This expedited service usually delivers funds within minutes, often up to 30 minutes, but it incurs a fee. The fee for instant transfers is typically 1.75% of the transferred amount, with a minimum charge of $0.25 and a maximum of $25 for U.S. dollar transactions.
The PayPal Debit Card can also be used directly for purchases, both online and in physical stores, wherever Mastercard is accepted. The daily spending limit for purchases is generally higher, often up to $3,000 USD. Funds can also be used to send money to other individuals or for direct online shopping where PayPal is an accepted payment method.