Are you looking to send money from Venmo to PayPal? This post will take you step by step through the procedure.
Using payment services concurrently is not unlawful. If you’re like me, you’ve got a PayPal, a Venmo, and a Cash App account. However, is it possible to transfer funds from Venmo to PayPal?
The majority of Venmo and PayPal users have long fantasized about a scenario in which they could get money to their Venmo, transfer it to their PayPal, and pay it out using their PayPal card.
I’ll demonstrate how to setup and maintain this type of digital connectivity with Venmo and PayPal in this article.
Is it possible to transfer funds from Venmo to PayPal?
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To begin, let me to clarify something: PayPal owns a portion of Venmo. Braintree is technically Venmo’s immediate parent company, and PayPal purchased Braintree in 2013.
If you add two and two, you’ll quickly realize that PayPal owns Venmo. That is correct, in my opinion.
With this level of integration between two outstanding payment providers, you may anticipate frictionless cash transfers from Venmo to PayPal or vice versa.
Regrettably, this is not the case. At the moment, there is no Venmo option that allows you to send money to PayPal using Venmo.
However, transferring money from Venmo to PayPal is not difficult. Depending on how much tinkering with your account settings you’re prepared to do, you can move money between the two payment providers for a standard cost.
Is It Possible to Transfer Money From Your Venmo Account to Another Person’s PayPal Account?
No, unless you use the same bank account, there is no way to transfer money from your Venmo account to another person’s PayPal account (which is impossible).
Due to the fact that a bank account acts as a conduit between the Venmo and PayPal accounts, you must link the same bank accounts to the participating Venmo and PayPal accounts.
Unless one of the participants is your identical twin, this will not work with two distinct individuals.
How to Make a Money Transfer from Venmo to PayPal
While technically it is not possible to transfer money from Venmo to PayPal, there are various workarounds, albeit more involved ones.
While you may send money to someone simply by inputting their Venmo login, the process for transferring money from Venmo to your PayPal account is more complicated.
Transferring money from Venmo to PayPal might take anything from a few minutes to a couple of days, depending on the amount of charges you’re prepared to pay and your luck.
To transfer funds from Venmo to PayPal, you must utilize your bank account as a conduit. You withdraw money from Venmo to your bank account and then add the funds to PayPal from your bank account.
The following is a full explanation of the processes necessary to transfer money from Venmo to your PayPal account.
1. Connect your Venmo and PayPal accounts to the same bank account.
This approach should give you a sense of what I’m constructing up here. The procedure for connecting a bank account to a PayPal account is distinct from the procedure for connecting it to Venmo.
However, PayPal can take up to five days to properly connect your bank account to your account; therefore, you may want to factor that in.
While connecting your bank account to your Venmo account is faster, it is not foolproof. In all, you may expect to complete the process in three days with luck.
However, if your PayPal and Venmo accounts are already linked to the same bank account, you won out.
2. Make a bank transfer from your Venmo account to your bank account.
After you’ve linked your bank account to your Venmo account, you may go on to the next step. This entails sending the funds to PayPal from your bank to PayPal.
Due to the fact that the funds cannot be sent straight to your PayPal account, the next obvious step is to transfer them to your bank.
To transfer money from your Venmo account to your bank account, navigate to the mobile app’s left menu and pick the ‘Transfer to Bank’ option.
You can opt to send money instantaneously or at the usual Venmo transfer pace. The quick transfer process takes a few minutes, however the conventional transfer process might take up to three business days.
We strongly advise you to use the immediate feature for this transfer. Your money will encounter so many obstacles that using the regular transfer speed would exacerbate the situation.
One thing to keep in mind is that Venmo costs 1% for immediate transactions, assuming you can live with that.
3. Reload your PayPal account with funds from your bank.
After transferring funds from Venmo to your bank, you can now transfer funds from your bank to your PayPal account.
To complete this process, you must login in to your Cash App account on a phone or a computer. Once logged into your account, locate and click ‘Transfer Money.’
After choosing Transfer Money, an option to ‘Add money to your balance’ will appear. Select the bank from which you’d want to add money by clicking or tapping on this option.
You must choose the bank account to which both your PayPal and Venmo accounts are linked. Enter the amount sent via Venmo and click ‘Add’ to initiate the transaction.
After clicking ‘Add,’ the funds will be sent to your PayPal account. This process may take many hours or days, depending on how frequently you use your account.
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