Paypal 4 ways to withdraw the operation and comparison

When you receive your payment via PayPal, the amount will be retained in your PayPal account balance and you will need to withdraw funds to your own bank account via "withdrawal". Your PayPal account needs to be certified prior to withdrawal. You can withdraw according to the following steps:

Visit the PayPal website (HTTPS://WWW.PAYPAL.COM/C2) and log in to your account. Click "Withdraw" at the top of the page and you'll see 2 more commonly used withdrawal methods. Click "Other Options" and you can see 2 additional withdrawal methods. Select one of the withdrawal methods, follow the page prompts to complete the withdrawal. If you click "Other Options", the page appears as follows:

Introduction of four kinds of withdrawal methods

1. Send funds via wire transfer to your bank account in China (Wire bank)-Recommended If you have not yet added an EFT bank account, you will be asked to add a bank account for telegraphic transfer when you select this option. We support the sending of remittance entries to the following banks ' accounts: Bank of China, ABC (Agricultural Bank), Chinese Merchants Bank, CCB Construction Bank), ICBC (Industrial and Commercial Bank of China), Bank of Communications (Bank of Communications), China Citic Bank, CMBC (China Minsheng Banking Corp., Ltd.), Societe Generale Bank (Industrial Bank Co., Ltd.), China Everbright Bank (PRC Everbright Bank), Huaxia Bank (Huaxia Bank), Shanghai Pudong Development Banking (SPD Bank). When adding a bank account, if some information is uncertain, we recommend that you contact the issuing bank to confirm the correctness of the information, otherwise it may result in unsuccessful withdrawals. In addition, some banks may charge you additional fees for wire transfers, so it is also recommended that you check with the relevant departments of your card issuer before you withdraw your fees. Once you have added your account, simply fill in the currency and amount you need to withdraw and click "Continue".

Please note: 1. When you have more than one currency in your account balance and you need to mention it at once, you will need to convert the other currencies manually to US dollars before you can withdraw your cash once. 2. Telegraphic transfer to your bank account in the currency of the United States dollar, if you mention the current choice of currency is not the United States dollar, the system will be at the time of the PayPal exchange rate, you automatically converted to US dollars. 3. The minimum amount for a single withdrawal is $150 and the handling fee is $35 per transaction. 4. If the money arrives at the bank and the bank refuses to deposit it (for specific reasons, you are advised to consult the bank), you will be charged a handling fee of USD 15. 5. It usually takes 3-7 business days to withdraw to your bank account. From the date of application, if more than 7 working days (except for rest days), you still do not receive the payment, and the money is not returned by the bank (in very rare cases), please contact PayPal customer service.

2. Withdraw to your Hong Kong account – recommended If you have any local bank account opened in Hong Kong (not counted by Hong Kong bank branches in mainland China), you can click this option to add a Hong Kong bank account for withdrawal. Once you have added your account, simply fill in the currency and amount you need to withdraw and click "Continue".

Please note: 1. When you have more than one currency in your account balance and you need to mention it at once, you will need to convert the other currency manually to HKD before you can withdraw the cash once. 2. The currency of the withdrawal to Hong Kong bank account is the same as HKD, if you mention that the current selected currency is not HKD, the system will automatically convert you to HKD at the prevailing exchange rate of PayPal. 3. The minimum amount of a single withdrawal is HK $80 (about US $10), handling fee: >=1000 HKD for each withdrawal, free of charge, less than 1000 HKD, and a handling fee of HK $3.5 per transaction. If the money arrives at the bank and the bank refuses to deposit it (for specific reasons, it is recommended that you consult the bank), you will be charged a handling fee of HK $20. 4. It usually takes 3-6 business days to withdraw to your bank account. From the date of application, if more than 14 working days (except for rest days), you still do not receive the payment, and the money is not returned by the bank (in very rare cases), please contact PayPal customer service.

3. Withdraw to your US account If you have any local bank account opened in the United States (Bank of America branch in China is not counted), you can click this option to add a US bank account for withdrawal. Once you have added your account, simply fill in the currency and amount you need to withdraw and click "Continue".

Please note: 1. When you have more than one currency in your account balance and you need to mention it at once, you will need to convert the other currencies manually to US dollars before you can withdraw your cash once. 2. The currency of the withdrawal to US bank account is United States dollar, if you mention the current selected currency is not USD, the system will automatically convert you to USD at the prevailing exchange rate of PayPal. 3. The minimum amount of a single withdrawal is $1, free of charge. 4. It usually takes 3-4 business days to withdraw to your bank account. From the date of application, if more than 14 working days (except for rest days), you still do not receive the payment, and the money is not returned by the bank (in very rare cases), please contact PayPal customer service.

4. Request a cheque from PayPal If you do not have a bank account for the time being, you can also withdraw your account balance by applying for a cheque to PayPal. Once you have selected this option, simply fill in the currency and amount you want to withdraw and the address of the check, click "Continue".

Please note: 1. When you have more than one currency in your account balance and you need to mention it at once, you will need to convert the other currencies manually to US dollars before you can withdraw your cash once. 2. The currency of the withdrawal to US bank account is United States dollar, if you mention the current selected currency is not USD, the system will automatically convert you to USD at the prevailing exchange rate of PayPal. 3. The minimum amount for a single withdrawal is $150, with a maximum cumulative limit of $2500 per month. The handling fee is $5 per transaction. 4. The address to be filled in at present must be a domestic address in China, and the address is required to be completed in English, otherwise the cheque cannot be received. 5. The check delivery process typically takes 4-6 weeks. From the date of application, if you still do not receive a cheque for more than 45 days, you may try to continue waiting, or you can contact the PayPal Customer Service center to void the check, but you will be charged a handling fee of USD 15. 6. If you have received a cheque, you may collect it from any bank that can handle the collection business (the bank may charge a fee).

Comparison of 4 kinds of withdrawal methods

Telegraphic Transfer: Short withdrawal period, fixed cost. Generally recommended when the user has more balance, one-time large extraction, can reduce the cost of withdrawal. Withdraw to Hong Kong bank account: Need to go to Hong Kong bank account, withdrawal period is short, low cost. However, the customer base is not the Hong Kong region of the sellers, there will be a higher exchange rate conversion losses. Withdraw to US bank account: need to bank account in the United States, withdrawal period is short, no fees. Not suitable for users in mainland China because they cannot handle bank accounts in the United States. Request a cheque from PayPal: The fee is lower, but the withdrawal period is very long and the mail may be lost during the mailing process. Suitable for small withdrawals and capital turnover is not tense people.