Nowadays, understanding how to move funds from one account to the next is crucial to maintaining a healthy financial—and knowing how to transfer money from Venmo to PayPal is no exception.
In a nutshell, Venmo is a P2P payment service that allows users to send and receive payments safely and conveniently and is owned by PayPal.
PayPal, on the other hand, is a popular payment gateway that facilitates international money transfers from one part of the world to another.
While PayPal owns Venmo, none of the two services features an option to integrate the other—making transfers between the two platforms tricky.
Thankfully, there's a way to move funds between these two accounts and if you're wondering how, keep reading.
To help you out, we've compiled the steps required to transfer money from Venmo to PayPal without hassle.
Table of Contents
Is there an Integration between Venmo and PayPal?
While Venmo is a subsidiary of PayPal, they do not, however, integrate.
Venmo payments, including Venmo-funded payments made from a PayPal account, are treated the same as regular PayPal transactions.
Answered questions on both apps from Atimeforcash show what you can do with both apps.
Can I Transfer Money from Venmo to PayPal?
Yes, you can transfer money from Venmo to PayPal, but not directly.
The most straightforward way to transfer money from Venmo to PayPal is by using a linked bank account—meaning, the same bank account must be linked both to your Venmo and PayPal accounts.
How to Transfer Money from Venmo to PayPal
While you can't link your Venmo to PayPal and transfer funds between both accounts directly, you can still transfer money from Venmo to PayPal using your bank account as a bridge.
To do so:
1. Add Your Bank Account to Venmo
The first thing you'll want to do is to link your bank account to your Venmo account. If you have already done so, you can skip these steps otherwise, here is how to add your bank account to Venmo.
- Open your Venmo app.
- Tap your profile or initials to go to the "Me" tab.
- Go to the "Wallet" section.
- Tap "Add a bank or card..." and then select "Bank".
- Select your preferred verification method.
2. Transfer Money from Venmo to Your Bank Account
The next thing you will have to do is to withdraw funds from your Venmo account directly to your bank.
Venmo lets you transfer money to your bank account in two ways. You can transfer funds using the standard transfer option which will take up to 3 business days or using the instant transfer option which will be done instantly.
However, the instant transfer will cost you a fee of 1.5% (with a minimum fee of $0.25 and a maximum fee of $15) of the total amount to be transferred.
Instant transfers are only possible with U.S. bank accounts or Visa/Mastercard debit cards that support the service (like Visa Fast Funds or Mastercard Send).
By adding your bank account or credit card to your Venmo account, you may see if it is eligible. When you try to make an instant transfer, your bank account or debit card is offered as a payment option but greyed out. This means that your bank does not currently participate in an instant transfer service.
Follow the steps below to transfer money from Venmo to your bank account.
- Open your Venmo app.
- Go to the "You" tab by tapping the profile icon.
- Select the "Add or Transfer" button located just below your profile picture.
- Select "Instant" (1.5% fee, minimum of $0.25 and maximum of $15.00) or "1-3 biz days" (no fee).
- Finally, tap "Transfer".
3. Add Your Bank Account to PayPal
Next, you'll have to link the bank account to which you transferred funds from your Venmo account to your PayPal account. You can do this from the "Wallet" section of your PayPal account.
To add a bank account to PayPal:
- Log in to your PayPal account.
- Go to "Wallet."
- Click "Link a bank."
- Search for your bank or select it from the list.
- You can link your bank instantly by entering your bank login details. If the instant option isn't available, enter your bank account details manually and click "Agree and Link."
4. Transfer Money from Bank Account to PayPal
Finally, the last thing to do is to transfer the money from your bank account (received from Venmo) to your PayPal.
It is more like adding funds to your PayPal balance from your bank account.
Here is how to do it.
- On your PayPal dashboard tap "Wallet".
- Click "Transfer Money".
- Click "Add money to your balance".
- Select the bank you used to receive funds from Venmo and enter the amount you want to transfer.
- Finally, tap "Add".
The transfer usually takes 3-5 business days to complete. It is free and can be done at any time. You'll receive an email once the transfer is complete.
Also Read: How To Transfer Money From Venmo To Cash App
What to Know When Transferring Money from Venmo to PayPal
There are a couple of things to consider when transferring money from Venmo to PayPal, which include:
- Fees involved.
- Exchange rate.
- Possible scams.
- Transfer time.
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How To Transfer Venmo To PayPal Without Bank Account
A bank account serves as a bridge to transfer money from Venmo to PayPal, and without a bank account, the chances of transferring the funds are very low.
However, there are a couple of ways to transfer money from Venmo to PayPal without a bank account, which involves requesting help from a friend or using the Venmo debit card.
Frequently Asked Questions
Can I transfer funds from Venmo to PayPal?
Yes, you can transfer funds from Venmo to PayPal through a linked bank account. That said, the same bank account must be linked both to your Venmo and PayPal account
How do I transfer money from Venmo to PayPal or Cash App?
The best way to transfer money from Venmo to PayPal or Cash App is through a linked bank account. Keep in mind that the same bank account must be linked to both apps to assure a successful transfer.
How long does it take to transfer money from Venmo to PayPal?
It typically takes 3 to 5 business days for the funds transferred from Venmo to hit your PayPal account. What makes the transfer take so long is that it passes through a bank account.
Final Thoughts
Both Venmo and PayPal are fantastic apps when it comes to moving money from one account to another without fees. Though PayPal owns Venmo, they are not compatible in that, you can't integrate one app into the other.
This makes it very tricky to transfer money between both apps. The only way to transfer money from Venmo to a bank account is to use a linked bank account. This article shows you a complete process on how to complete the transfer without hassle.
References:
https://help.venmo.com/hc/en-us/articles/209690058
https://help.venmo.com/hc/en-us/articles/235399967-Standard-Bank-Transfers-FAQ
https://help.venmo.com/hc/en-us/articles/115015844068-Instant-Transfers-FAQ
https://wise.com/us/blog/venmo-to-paypal
https://www.businessinsider.com/can-you-transfer-money-from-venmo-to-paypal