Questions about redeeming via PayPal

Hi everyone, I'm new to this app. So recently I managed to earn enough SB to redeem for the first time. If anyone could give me a quick rundown on this I'd greatly appreciate it.

1. Is PayPal the most efficient way to transfer the funds to my bank account? I have never used PayPal nor do I currently have one.

2. Do I have to maintain a minimum balance or pay a fee to create one? Is it like a bank that has monthly maintenance fees? If so, can I just make one for this one time use and then cancel or 'delete' it?

3. What exactly is the process, in steps, to using PayPal to redeem SB and then transfer this to my bank account? Is it instant or do I have to wait? Is there a transfer fee?

Thanks!