Venmo To PayPal: How To Transfer Money In 2024

Transferring money between digital wallets has become an essential part of managing our finances. In 2024, knowing how to efficiently move funds from Venmo to PayPal is a crucial skill. This comprehensive guide will walk you through the process step-by-step, ensuring you can seamlessly send money from Venmo to PayPal.

Can You Transfer Money from Venmo to PayPal?

Can you transfer money from Venmo to PayPal? This is a common question among users of these popular financial apps. As of 2024, there is no direct way to transfer money from Venmo to PayPal within the apps themselves. However, there are alternative methods to achieve this transfer, and we will explore these in detail.

Venmo to PayPal Transfer: Indirect Methods

While there isn’t a direct Venmo to PayPal transfer option, you can use an intermediary bank account to facilitate the transfer. Here’s how:

Step 1: Link Your Bank Account to Venmo and PayPal

To transfer money from Venmo to PayPal, you first need to link a common bank account to both apps. Here’s how you can do it:

Linking a Bank Account to Venmo:

1. Open the Venmo app.
2. Go to the “Settings” menu.
3. Select “Payment Methods.”
4. Tap on “Add a Bank or Card.”
5. Choose “Bank” and enter your bank details.
6. Verify your bank account by following the prompts.

Linking a Bank Account to PayPal:

1. Open the PayPal app or go to the PayPal website.
2. Log in to your account.
3. Navigate to “Wallet.”
4. Click on “Link a Bank.”
5. Enter your bank details and follow the verification steps.

Step 2: Transfer Money from Venmo to Your Bank Account

Once your bank account is linked to both Venmo and PayPal, the next step is to transfer money from Venmo to your bank account:

1. Open the Venmo app.
2. Tap on the “☰” icon to open the menu.
3. Select “Transfer to Bank.”
4. Enter the amount you want to transfer.
5. Choose your linked bank account.
6. Confirm the transfer. This usually takes 1-3 business days.

Step 3: Transfer Money from Your Bank Account to PayPal

After the money has been deposited into your bank account from Venmo, the final step is to move it to PayPal:

1. Open the PayPal app or website.
2. Go to “Wallet.”
3. Click on “Add money.”
4. Select your linked bank account.
5. Enter the amount you want to transfer.
6. Confirm the transfer. This process can take 3-5 business days.

Send Money from Venmo to PayPal Without a Bank Account

How to transfer Venmo to PayPal without a bank account? If you do not have a bank account or prefer not to use one, there are other ways to transfer money between these platforms, albeit less direct.

Using a Cash App Card

1. Order a Cash App Card: Apply for a Cash App Card if you don’t already have one. This card can act as an intermediary.
2. Load Venmo Funds to Cash App: Use Venmo to transfer funds to your Cash App Card.
3. Transfer Cash App Funds to PayPal: Use your Cash App Card to add funds to your PayPal account.

Using a Trusted Friend or Family Member

Another workaround is to involve a trusted friend or family member who has both Venmo and PayPal accounts:

1. Send the desired amount from your Venmo account to your friend’s Venmo account.
2. Have your friend transfer the money from their Venmo account to their bank account.
3. Your friend can then send the equivalent amount from their PayPal account to your PayPal account.

Important Considerations

Transfer Limits

Be aware of the transfer limits imposed by both Venmo and PayPal. Venmo has a rolling weekly limit of $4,999.99 for verified users, while PayPal’s limits can vary based on your account status and verification level.

Fees

Both Venmo and PayPal can charge fees depending on the type of transaction. Instant transfers from Venmo to your bank account incur a 1.75% fee (minimum $0.25 and maximum $25). PayPal may also charge a fee for adding money from a debit card or linked bank account.

Processing Times

Standard transfers from Venmo to your bank account take 1-3 business days, while transfers from your bank account to PayPal can take 3-5 business days. Instant transfer options are available but at an additional cost.

Conclusion

While there is no direct way to transfer money from Venmo to PayPal, the methods outlined above provide reliable alternatives. By linking a common bank account, using intermediary services like Cash App, or involving trusted friends or family, you can effectively manage your funds across these platforms. Understanding the steps, limits, and potential fees involved will help you make informed decisions and streamline your financial management.