Transferring Money Between PayPal and Venmo: A Complete Guide

 

Transferring money between different payment platforms can be a bit tricky, especially when dealing with services like PayPal and Venmo. If you're looking to send money PayPal to Venmo, this article will guide you through the process, highlighting key steps and considerations.

Understanding the Transfer Process

To transfer money from PayPal to Venmo, you can't directly move funds between the two platforms as they don't have a built-in transfer feature for each other. However, you can achieve this indirectly by using your linked bank account. Here’s how it works:

  1. Withdraw from PayPal: First, you need to withdraw the desired amount from your PayPal account to your linked bank account. This step is crucial as it allows you to access the funds in a place where they can be moved to Venmo.
  2. Deposit into Venmo: Once the funds have been transferred to your bank account, you can then use Venmo to deposit that money. Simply open the Venmo app, and choose to add funds from your bank account.

Steps to Send Money

If you want to send money Venmo to PayPal instead, the process is similarly indirect:

  1. Transfer to Bank: Start by transferring your Venmo balance to your linked bank account.
  2. Use PayPal: Once the funds are available in your bank account, you can log into your PayPal account and deposit the money there.

Important Considerations

When using these methods, be aware of potential fees:

  • Venmo Fee for Sending Money: Venmo typically charges a fee for instant transfers and for sending money using a credit card. The Venmo fee to send money via a credit card is usually around 3%.
  • Venmo Declining Payment: Keep in mind that if your payment is declined, it may be due to insufficient funds or a restriction on your account. Always ensure that your linked bank account has enough balance before initiating transfers.

Alternative Methods

While the outlined method is effective for send PayPal money to Venmo, consider using Venmo for transactions where possible. Venmo offers a convenient Venmo cash transfer option, allowing users to quickly send money to friends or pay for services without needing to go through PayPal.

Conclusion

Transferring money between PayPal and Venmo requires a few extra steps, but it’s manageable with the right approach. Whether you want to send Venmo money to PayPal or send PayPal to Venmo, understanding the indirect transfer method will simplify the process. Always be mindful of fees and potential payment declines to ensure a smooth transaction experience.

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