How to top up paypal account with credit card

While credit cards are accepted methods of payment at most merchants, you may need to have some cash on hand in a pinch. Whether it’s due to an emergency, an unforeseen expense, or a transaction that doesn't accept credit cards, you may consider transferring money from your credit card to a different destination, such as your bank account or to family overseas.

Learn more about credit card money transfers, their associated fees, and other potential implications.

Ways to transfer money from a credit card

There are many different ways you can transfer money using a credit card. Some of the most common methods include:

• Money transfer providers
• Peer-to-peer (P2P) payments
• Cash advances

Money transfer providers

One way to transfer money with a credit card is by using a money transfer provider. If your intended recipient isn't physically with you but lives in a location where the provider has a branch, you can send them money from a specific credit card set up in advance.

This process can be conducted either online, in an app, or in person at a provider near you. If you choose to go to a brick-and-mortar location, make sure to bring proper documentation with you to verify your identity, including a valid government ID.

P2P payments

You can also use a peer-to-peer (P2P) payment app to transfer money from your credit card to a bank account. Once you sign up for an account on the app and verify your identity, you can link your credit card as well as your debit card and personal banking account.

You can then transfer funds to either another user on the same platform or directly into your personal banking account. Depending on the provider you use, the transaction can be almost instantaneous or take several business days to complete. In certain instances, you may have to pay an additional fee if you don’t want to wait.

Cash advances

Most credit cards have a cash advance feature. This allows you to either withdraw available funds from an ATM or transfer money online from your credit card to your checking account.

If you choose to take out physical cash, you can proceed to deposit it into your bank account through an ATM or at your nearest physical branch.

This option is best used as a last resort, as it can often come with extra fees and a high interest rate that kicks in as soon as you withdraw the funds.

Unlike other types of transactions, there's often no grace period in which you can pay back the money without incurring interest charges.

Things to consider when transferring money from a credit card

There are several options to choose from when you need to transfer money using a credit card. However, it's important to also consider the potential negative implications of any change to your credit card balance.

For example, it may damage your credit score if you end up accidentally overdrawing on your outstanding balance. You may also unintentionally end up in further debt.

If you want to maintain your creditworthiness, and perhaps boost your score in the long run, it's important to pay your credit card bill on time and ideally in full.

Potential fees

At times, you may incur charges to transfer money from your credit card to your bank account. For instance, overdrawing on your account could potentially result in late fees if you don't have the money to pay off your entire balance on time.

There may also be cash advance and balance transfer fees to pay, as well as extra charges for international transfers if you're sending money abroad.

If you frequently make and accept payments via PayPal, you may want to maintain a balance in your account. For most people, this is just a matter of convenience. By keeping some money in your PayPal account at all times, you can use the platform more easily without delays. This is particularly helpful if you’ve integrated PayPal into your ordinary accounting system.

There are two ways to make PayPal payments: using your existing PayPal balance and email address or choosing an alternative like a bank or a debit card. Here’s how to do both and add money to your account when needed.

Key Takeaways

• Direct transfers to your bank account from your PayPal account are simple and straightforward.
• The transfer can take up to 5 days to post to your account.
• You can pay suppliers using the credit or debit card associated with your PayPal account.
• PayPal’s Instant Transfer option allows you to receive money from your PayPal balance in minutes for a small percentage fee of the total being transferred.
• You can add cash to your PayPal balance using the barcode generator in the PayPal app at any participating retail store.

Here’s What We’ll Cover:

How to Add Money to PayPal From Your Bank

The easiest way to add money to your PayPal balance account is to use a direct bank transfer. First, you’ll need to create a PayPal Cash or PayPal Cash Plus account. This is free, but it requires PayPal to verify some of your personal information to comply with Know Your Customer regulations.

Next, you’ll need to have a linked bank account. This will take a few days to set up since PayPal must verify that the account is yours. They’ll deposit a few pennies and ask you to confirm the amount. When that’s done, you can transfer money back and forth freely.

To transfer money from a bank account, log into PayPal and navigate to your wallet. Now, click “Transfer Money” and select the “Add money to your balance” option. Enter the amount and select the “up to 5 days with your bank” option. With the app, the process is even easier. You click on your balance and select “Add Money.”

Either way, the rest of the process is simple. You enter the amount you want to transfer, confirm the money transfer, and you’re all set. Direct transfers to your PayPal account from your bank can take longer to process, sometimes requiring five full business days.

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How to Use Your Debit Card for PayPal Purchases

You can’t actually use a credit or debit card to transfer funds to your PayPal balance. On the other hand, you shouldn’t really have to. When you make a PayPal payment, you can use your credit or debit card instead of your PayPal balance.

As a result, you don’t need to maintain a balance if you link a card to your account. You can get money from friends or pay your vendors directly from your card. Remember that, as with any card payment service, this will incur some fees, which are tax deductible.

You’ll first need to set up a linked card for this to work. Log in, go to your wallet, and click on the link to add a debit or credit card. Follow the instructions, enter your card details and billing address, and the card will be linked. The whole process only takes a few minutes. You can also opt for a PayPal debit card that links directly to your account.

Doesn’t PayPal Have Instant Transfer?

Yes, PayPal does have an option for instant transfer. The feature eliminates payment delays, letting you instantly transfer your customers’ PayPal payments directly to your linked bank account. The instant transfer option is only available for withdrawals, not for deposits.

To get your money in minutes, log into your account and click the link that says “Transfer money.” Select the account or card you want to transfer to, and choose the option for an instant transfer. This will work for any bank account and eligible debit cards. At this time, instant transfers are not available for credit cards.

Keep in mind that instant PayPal transfers incur a service fee. Transferring money from your PayPal account to your bank instantly requires a fee of 1.75% of the withdrawal amount, for a total of $0.25 to $25. The transfers will typically post in a few minutes but can take up to half an hour.

What if I Want to Add Cash to My PayPal Balance?

Using the PayPal cash feature, you can add money to your PayPal balance at a participating retailer. To do this, make sure you have the PayPal app downloaded on your mobile device. You’ll need to generate a barcode in your PayPal app to show at the retail store, along with your cash.

To generate the barcode and add money, open your PayPal app. Tap the “More” button at the bottom of the home screen. Tap “Add Cash.” Select a retailer from the provided list, and tap “Generate Barcode.” Bring the barcode on your smartphone to your preferred retail store and the amount of cash you’d like to add. The cashier will scan your barcode to load the money into your PayPal account.

PayPal recommends waiting until you’re at the retail location to generate the PayPal Cash barcode. Generated barcodes expire after one hour. If your barcode expires, you can simply generate a new one following the same steps.

There is a service fee of $3.95 when adding cash at a store. The barcode generation is a free service. Typically, you can add any amount of cash from $20 to $500 per barcode. The daily limit for adding cash to your PayPal account is $500, and the monthly cap is $4,000.

Conclusion

Keeping a balance in your PayPal account is a convenient way to make sure you always have enough available for transactions. Direct transfers to your bank account from your PayPal account are simple and straightforward. Using the bank account associated with your debit card helps you maintain a balance and positive cash flow for frequent use. The process can take several days, or require a small fee, but does you to manage your balances as needed.

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FAQs On How to Add Money to PayPal From a Debit Card

How do I add money to my PayPal account from Cash App?

Unfortunately, you can’t directly move money from Cash App to PayPal, but some options allow for a workaround. You can use your bank account as a middleman for a transfer or use the Cash Card from Cash App as a PayPal payment method to get the money you’d like.

How do I add money to my PayPal account for free?

No fees are associated with transferring money to PayPal directly from your bank accounts. A fee is only added to this transaction if you add the ‘Instant Transfer’ option. Otherwise, PayPal users can transfer money between their PayPal account and bank account free of charge.

Can I send money to myself on PayPal from a credit card?

It is against PayPal’s terms of service to send money to yourself from a credit card. This option is only available when sending money to a friend, client, customer, or business. Click here to read PayPal’s full user agreement for more information.

Can I spend money on PayPal without linking a bank account or card?

No. While you don’t need a debit card or bank account to set up a PayPal account, you will need to link a bank account if you want to take cash from your PayPal balance. PayPal requires an established location to transfer money to.

Why won’t PayPal accept my Visa debit card?

Typically, this issue arises when your card is associated with a specific PayPal account and you’re not logged into that particular account. It could also be because your card was associated with a PayPal account you’ve since closed, you haven’t confirmed the card link yet, or you’ve exceeded your card limit in the PayPal system.

About the author

Jason Ding is a seasoned accountant with over 15 years of progressive experience in senior finance and accounting across multiple industries. Jason holds a BBA from Simon Fraser University and is a designated CPA. Jason’s firm, Notion CPA, is an accounting firm with a business-first focus. The firm specializes in preparing personal and corporate taxation while providing fractional CFO work and leading the accounting and finance function for several small-to-medium-sized businesses. In his free time, you’ll find Jason on the basketball court, travelling, and spending quality time with family.

How do I top up my PayPal balance with my card?

Here's how to add money to your PayPal balance on the web at PayPal.com:.

Go to your Wallet..

Click Transfer Money..

Choose "Add money from your bank or debit card.' Enter the amount..

Choose either 'In seconds with debit' or 'in 3-5 days with your bank'..

Can I pay PayPal with a credit card?

PayPal allows you to make payments using a variety of methods including: PayPal balance, a bank account, PayPal Credit, debit or credit cards, and rewards balance.

Where can I add money to PayPal account?

You can add cash to PayPal at 90,000+ locations around the US. Some retailers include Rite Aid, CVS Pharmacy, GameStop, Walmart, Dollar General, and Family Dollar.