TikTok has amassed a huge user base in a very short period of time. The ‘short videos’ app has made many a star on its social media platform. While originally there was no way to make money off the app other than through sponsorships, TikTok introduced a ‘Coins’ system to encourage creators on the app. In this article, we will cover how you can link your PayPal account to TikTok.
Given the success of TikTok, no wonder Facebook has gotten busy replicating the same on its own platform. While they have already launched Reels on Instagram, they are also testing ‘Short Videos’ on Facebook in India aggressively now. If you are wondering What is Reels, then check out the links below.
What is ‘TikTok Coins’?
Coins were introduced on TikTok as a form of virtual currency. Users can pay coins to creators to show their support and appreciation for their effort. These coins are linked to your TikTok account. The coins can then be converted to real money by withdrawing them from the app. TikTok has certain restrictions when it comes to these withdrawals which we will cover further on.
TikTok coins cannot be withdrawn directly to your bank account. Whether it is for security reasons or not, TikTok only lets you link a PayPal account to your TikTok account. Naturally, you need to have a PayPal account before you do so.
So if you need to withdraw your coins from your TikTok account, the only way you can do so is by linking your PayPal account.
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Once you have created your PayPal account, it is quite easy to link it to your TikTok account. You should make sure that the PayPal account has the same first and last name as that on your TikTok account. If not, your payment may get rejected. To link your PayPal account, you need to copy your PayPal link from the PayPal app and paste it in the TikTok app.
Launch the PayPal app (Android/iOS) on your device and log in with your credentials. Now tap the Settings cog in the top right corner. Your PayPal link will be visible below your profile picture. Copy this link to your clipboard.
Now launch the TikTok app on your device. Go to your profile by tapping the ‘Me’ tab in the bottom right corner.
Now tap the three dots in the top right corner and select ‘Balance’.
You can now view the amount of coins that you currently have in your account. Tap ‘Live Gifts’ below that.
Now on the next page, tap on the ‘Withdraw’ button at the bottom.
You can now choose the increments that you would like to cash out in. Depending on how much you want to withdraw from your TikTok account, choose the right increment.
On the next page, tap ‘PayPal’ under ‘Withdrawal Account’. Now add the email address that is associated with your PayPal account. When you are asked for ‘PayPal ID’ paste the ID that you copied from your PayPal account.
What is the transfer limit for TikTok coins?
TikTok will only let you withdraw from your account if you have a minimum of $100. Any less than and you will not be able to hit the ‘Withdraw’ button. Additionally, TikTok has a limit on how much you can withdraw per day from your account. This limit is set at $1,000. So if you have $4,000 on your TikTok account, you will have to make withdrawals over four days.
How much is the transaction fee?
TikTok does not charge users a fee when withdrawing from their accounts. PayPal on the other hand will charge you depending on where in the world you are. Check out the PayPal website to learn more about their fee structure.
How long do transfers take from TikTok?
TikTok claims that transfers will take a minimum of 15 days to appear in your PayPal account. This is because each transfer request is reviewed by their team before it is approved. Furthermore, they make it clear that not all transfers may be approved depending on the information provided on your PayPal account.
The maximum number of days it should take for funds to appear in your PayPal account is 21 days. This is only the case when your funds are put on hold to clear up any possible problems with the transfer.
Why can’t I transfer to my PayPal account?
Before you link your PayPal account, you must make sure that the first and last name on the account corresponds with that of your TikTok account. If it does not, you will need to change your name on TikTok to correspond with that of your PayPal account.
Additionally, you need to make sure that your PayPal account is verified. While most users who use PayPal regularly have verified their accounts, if you just created a new account for your TikTok, you need to complete any two of the following three tasks to get your PayPal account verified.
- Link a bank account
- Link a card (Credit or Debit)
- Provide SSN (Social Security Number)
We hope this article helped. If you have any queries, feel free to reach out to us in the comments below.
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Image source: DoseofJoseph