PayPal and Venmo, two of the most popular online payment platforms, allow users to send and receive money quickly and securely between each other’s accounts.
Want to transfer money from Venmo to PayPal but aren’t sure if you’ll be able to do so? Is there a method to send it as well?
If that’s the case, you’ve come to the correct place!
So, can you transfer money from Venmo to PayPal?
Direct transfers from Venmo to PayPal are not possible due to the lack of integration between the two services, but you can do it by linking the same bank account to Venmo as well as PayPal.
As soon as the money is linked, transfer it from Venmo into the same bank account and then add it to your PayPal balance.
How to Transfer Money from Venmo to Paypal?
To get started, you’ll need the following things ready –
- Make a PayPal account.
- You must have a bank account in the United States in the same name as your PayPal account.
- Use the same name on your Venmo account as you use on your bank account.
To move funds from Venmo to PayPal, follow the instructions below –
Step 1 – Open a bank account and connect it to your Venmo and PayPal accounts:
Step 2 – Go to your Venmo, click Transfer to Bank, and enter the needed amount once the bank accounts are connected.
Step 3 – Select your preferred transfer option: 1-3 business days or Instant, then hit Transfer.
Step 4 – Return to your PayPal account and select the Transfer Money option3 from the drop-down menu.
Step 5 – Select When you add money to your account, you’ll be able to see the bank account that’s linked to both your Paypal and Venmo accounts.
Step 6 – Select the bank account you want to add and click Add. In 3-5 business days, the money will be in your PayPal wallet.
Is Venmo Free to Use?
Venmo is a free app that anybody may download and use.
Venmo is popular because everyone uses it for free, but there are some costs that must be paid.
It does not imply that you must pay fees on a monthly or annual basis.
Frequently Asked Questions (FAQs)
Regrettably, no, not directly. There is currently no direct connectivity between Venmo and PayPal, thus making that easy transfer is not an option.
No, receiving money with Venmo is completely free.
If you want it done for free, it will take one to three business days, but if you need it sooner, you can pay a 1% instant transfer fee for immediate access to your assets.
Yes! Your Venmo Debit Card can be used to make cash withdrawals at ATMs or to get cash back when you make a transaction anywhere in the United States.
While it’s convenient to be able to transfer money from your Venmo account to your PayPal account, the lack of connection between the two accounts results in a lot of steps and time spent waiting for the money to arrive. When converting currencies, you must also be particularly cautious.