Below you will find a guide on how to send money from PayPal to TransferWise’s Borderless Account. We will also discuss if it is possible to send money from TransferWise to PayPal.
How to Send Money from PayPal to TransferWise
- Sign up to TransferWise. Use the available coupon to give you £3000 off your first transaction.
- Once your TransferWise account is created. Activate your Borderless Account. (Click here to learn more about the Borderless Account features.)
- Activate a borderless currency account. In this example we use USD account (or GBP, EUR or AUD).
- Make note of your USD Borderless Account details.
You are now ready to start configuring your PayPal account to transfer from PayPal to TransferWise Borderless.
Select Wallet from the Paypal menu area.
Click ‘Link a Card or Bank Account’.
Select option to add a Bank Account.
Select US Bank Account.
Enter ACH Routing Number from Transferwise Borderless into Paypal’s ‘BSB’ Field.
Enter Account Number from Transferwise Borderless into Paypal’s ‘Account’ Field.
You may ned to check your notes from the TransferWise preparation steps above. Find where you took down you personal USD banking details from within TransferWise USD Borderless Account.
Paypal Account is now ready to withdraw funds to Borderless!
To transfer click ‘Withdraw Money’ from your home page in Paypal.
Enter amount to withdraw USD funds from your USD PayPal balance to your USD TransferWise Borderless multi-currency account.
A warning screen always appears stating Paypal will review the transfer for fraud.
You’re all done. Funds will typically clear in your TransferWise USD Borderless Account after 1-2 days.
Send Money from TransferWise to PayPal
Sorry to disappoint you. It is currently not possible to transfer money from TransferWise to PayPal. Currently the TransferWise Borderless Accounts do not provide a direct debit feature which is part of the process for funds to be pulled from your bank account to PayPal. However, it is possible to activate or confirm your linked Borderless accounts within PayPal.
The image above shows the two PayPal linked bank account deposits to activate my AUD TransferWise Borderless Account in my AUD PayPal Account.
Once Direct Debit is available as a feature with the Borderless Accounts. Confirm your linked bank account in PayPal and then you should be able to ‘pull’ funds from your Borderless Account in to you PayPal account of the same currency.
TransferWise Borderless Account Alternative
Are you in the UK or Europe?
WorldFirst have a competitor service similar to the TransferWise Borderless Account called the WorldFirst World Account. We haven’t tried transferring from PayPal to the World Account yet as it’s only available in UK and Europe.
The community would love to hear if this is possible. Fancy become a tester?
Sign up to the WorldFirst Multi Currency Account and let us know in the comments below.
- Read the full iCompareFX review of TransferWise to learn about other great features available.
- Activate and redeem your TransferWise Coupon before signing up.
- Can the TransferWise Borderless Account help your business?