Ibotta & PayPal: How to Withdraw Your Cash and Transfer it to Your Bank

If you already have the ibotta app to earn cash back for your everyday purchases, then your next step is to withdraw your cash from the app.  This process is very simple.  Once you have a minimum of $20 you have 3 ways you can withdraw your cash.  One such way is to withdraw your cash using PayPal.

In order to do this, you must have a PayPal account.  If you don’t already have one, then follow these steps:

  1. Go to PayPal.com
  2. Click on Sign up
  3. Choose “personal account”
  4. Fill out the form indicating your personal information: name, email and password.  
  5. Next you’ll enter your address and phone, agree to their terms, and presto. Your account is created.

After your account is created, you will receive and email from PayPal, with a link which verifies your email account.  You must find this email and click on the link, which will take you back to PayPal.com. If you don’t do this step, your PayPal account is not activated.

Once you have opened your PayPal account, you need to link it to your ibotta account.  Open the app, and click on the account link to see how much money you have in your account.  If you have a minimum of $20, you can withdraw your cash.  You can choose the PayPal option by clicking on ‘link Account’ .  You will choose how much money you want to withdraw.  I suggest you withdraw the full amount in your account.  Ibotta accounts occasionally get locked, and it can be a headache to get it unlocked.  This happened to me once, and it took me two months to be able to use the app again.  This is what I did to unlock my ibotta account.

Once you choose how much you want to withdraw, you will be prompted to enter your ibotta email and password.  Next you will then be asked to enter your PayPal information, thus linking your ibotta to PayPal as a form of cash withdrawal.  Afterwards you’ll receive a message that your transfer was successful. It takes about 24 hours for the transfer to post to your PayPal account.  

‘Transfer Successful”

Withdrawing your Cash From PayPal and Transferring to Your Bank:

In your PayPal account, you have the option to link your account to either a debit card, a credit card or your bank.  This is where you enter your bank information and link your bank account to your Paypal account. You are then able to transfer your ibotta earnings directly to your bank. 

By transferring to your bank account you can either take your earnings and save it or use it towards your next ibotta purchase. If you use the pay with ibotta feature of the app, you can choose to transfer your ibotta earnings to your credit card by making a credit card payment. In doing so you are using your ibotta cash for your next ibotta transaction and recycling your savings.  

Happy Savings,
TaLis

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