How to Transfer Money Between PayPal Balance and Savings on PayPal for iPhone or iPad

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posted on 5 months ago — updated on 1 second ago

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If you have both a PayPal Balance and PayPal Savings, it's necessary to know how to get money into the account. But when PayPal doesn't supply a direct account and forces you to put money into the Balance first, you need to know the process between the two accounts.

Steps

To Savings

Open PayPal on your iOS device. PayPal's app icon has the interlocking classic double PayPal "P" on a dark blue background. It also has the PayPal title below it. Log into your account, if you haven't done so already. Make sure that you're logged into the account where the debit card is attached - if you have more than one PayPal account.

Review how much money is in your PayPal balance. On the main page, your PayPal Balance has its own tab to see how much is there fairly quickly.

Open the Savings Account tab. Your Savings Account has its own tab on the Home Page,or Find your Savings account as its own sub-tab of the "Finances" main tab. You must select which way you want to access it.

Tap the Add Money button. Be careful because if you click "Transfer", it'll send that money back to your Balance.

Review how much you have in your PayPal savings currently. This information is displayed on the screen, despite really needing to know what's in the Balance itself.

Choose how much you'd like to add. Although the most common amounts are listed as their own buttons - $10, $50, and $150 - there's also an "Other" button towards the right of the screen - just underneath the current Amount available line. If you choose Other, specify how much you need to transfer.

Choose how often you'd like this transfer to be made. If you just need to make a one-time transfer (and not set up recurring transfers), leave what's there alone. If you need to make a recurring transfer, tap the "One Time" button and select your recurrence type, which includes Weekly, Every 2 weeks, or Every month (all listed in almost-disabled grey), and click Confirm towards the bottom of the dialog box on the screen.

Tap the Review button. The Review button is at the bottom of the screen for all the common choices, but just above the numeric keypad for custom-entry amounts (with Other).

Verify the information is correct from the Review screen. This verifies your actions and includes the "From" and "To" accounts, as well as how often and the total to add. Also there, are Fees (which there are none if you are transferring between PayPal Balance and PayPal Savings) and Transfer Time (which is instant between these two accounts). Transfer time will be different if you transfer it to any other PayPal account or outside PayPal.

Tap the "Add Money" button. This button is found at the bottom of the screen.

Simpler Method from Balance Tab (to Savings)

Review how much money is in your PayPal balance. On the main page, your PayPal Balance has its own tab to see how much is there fairly quickly.

Tap the PayPal Balance account.

Scroll down until you see a Transfer button, and tap it. As of December 6, 2023, you'll find this button underneath the "Add Cash at stores" option, just above your Recent activity. If, after tapping PayPal become unresponsive, you'll need to force-close the app and re-open it.

Tap "Transfer to PayPal Savings". This is between "Transfer to bank" and "Transfer internationally".

Enter the amount you'd like to transfer into the Amount box underneath your current PayPal Savings balance. Without a period, type the value starting with the dollars and ending with cents and the dollar-cents split period will be inputted for you.

Tap Done, just above the PayPal keypad to close the keyboard and get the next step's button.

Double-check that the amount you're entering is correct.

Tap the Review button. This button is found at the bottom of the screen.

Verify the details. Here, you'll have info from the "From" and "To" accounts, as well as the amount towards the bottom - but "Fees" and "Transfer time" are there too with the same uneditable settings.

Tap the Transfer button. This button is found at the very bottom of the dialog box to transfer the money between the accounts.

To Balance

Review how much money is in your PayPal balance. On the main page, your PayPal Balance has its own tab to see how much is there fairly quickly.

Open the Savings Account tab. You must select which way you want to access it. Your Savings Account has its own tab on the Home Page,or Find your Savings account as its own sub-tab of the "Finances" main tab.

Tap the Transfer button. This can be found to the right of "Add Money" just under the Current APY and Total PayPal Savings section towards the top of the page.

Review how much money is in your Savings. Your Savings account balance is listed to the right of "Amount available" near the top of the screen.

Enter the amount you'd like to transfer. Tap the "Enter an amount to transfer" $0 amount and enter your amount. A keypad is displayed on the screen. A period dot is included at the bottom left corner of the keypad for those wanting to transfer parts of a dollar to the amount. Unlike transferring from your Balance to Savings, transferring it back to the balance doesn't have quick-transfer options and must be entered manually.

Tap the Review button. This button is found at the bottom of the usable screen, just above the keypad.

Review the transfer details. Here, you'll have info from the "From" and "To" accounts, as well as the amount towards the bottom - but "Fees" and "Transfer time" are there too with the same uneditable settings.

Tap Transfer, once you are ready to transfer it. This button is found at the bottom of the screen.