Venmo to PayPal Transfers: a Comprehensive Guide

The popularity of both Venmo and PayPal is undeniable. A large percentage of people use both services regularly to receive and send funds. Venmo is more focused on sending funds between friends and relatives, while PayPal is more diverse in its uses. For this reason, a common question arises — how do you send money from Venmo to PayPal? 

You may receive a sum of money from someone to your Venmo account, but you want to spend it using PayPal. This is understandable, as PayPal boasts a larger selection of features and can be used for international payments. In this case, you should know the quickest and most convenient way to connect the two digital wallets. At the moment, there is no way to transfer money from Venmo to PayPal directly. However, you can achieve this in a few steps by turning to your bank account. This is the most convenient and commonly used solution, so you can be sure that you take the easiest road. 

In this article, you can find out more about the best money transfer solution for these payment services and some important things to keep in mind before you send your funds. 

What is Venmo?

Venmo is a PayPal-owned digital wallet app that allows users to send and receive money via connected bank accounts using just an email address and a phone number.  

What is PayPal?

PayPal is a platform for online money transfers designed for both individuals and businesses. It is possible to add money to a PayPal account using a credit card or a bank account. 

Linking your Venmo and Paypal Via Your Bank Account

How do you send money to PayPal from Venmo? Even though both payment services are commonly used, not all users know exactly how to transfer their Venmo balance to PayPal. There is no integration between these wallets, meaning you cannot send money directly. Luckily, there is a quick solution that requires only a few steps. 

Link your Venmo account to your bank account 

So, how can you send Venmo money to PayPal? Let’s start by linking your Venmo account to your existing bank account. This process is quick, as all you should do is:

• Log in to your Venmo account.
• Open Settings and then choose Payment Methods.
• Go to Add bank or card and select Bank from the options 
• Choose the verification method — either the manual one or the Plaid integration option

The Plaid integration is useful for moments when you are in a rush, as it is performed instantly. 

Link your PayPal account to your bank account

The next thing you should do is go to your PayPal account and link it to your bank account:

• In your PayPal account, you should select Add card or bank. 
• Another way is to select Wallet from the menu at the top and then select Link a card or bank.
• You should then provide your banking details, and you will be asked to make two small deposits. 

During this step, you must enter the exact same bank details for both your PayPal and Venmo accounts. 

Transfer funds to your bank account from Venmo

At this stage, you may wonder how to transfer your Venmo balance to PayPal after linking accounts to a bank. There is not much left to do! You can now start sending money from your Venmo account to the bank account you have connected to it. 

In your Venmo account, you have two transfer options to choose from. You can go for an Instant option and receive your money immediately. But, you should remember that instant transactions envisage a 1.75% fee. If you prefer not to overpay, you can choose Standard transfer, which takes 1-3 business days, and money will be added without any fees. This will be especially useful and noticeable if you send large sums. 

Receive money from your bank account to PayPal 

The final step is to send the balance from your bank account to PayPal. The way it works is:

• Select Transfer Money in your PayPal account.
• Choose Add money to your balance and choose a bank account connected to Venmo.
• You can then enter the required sum and choose Add, and your money will appear in your PayPal account

This is your solution for how to transfer money from Venmo to a PayPal account. Although both services experience a lack of integration between them, sending your funds remains simple and quick. 

Transferring Funds from Venmo to PayPal: What you Should Know

Sending funds in the mentioned way is simple, and you can complete the entire process in no time. Now that you know that the answer to “Can you transfer money from Venmo to a PayPal account?” is positive, there are also a few things you have to consider. 

Be aware of cross-currency transfer 

One of the first things you should know about when sending your funds from Venmo to PayPal is currency exchange fees. If you want to perform a cross-currency transaction, you must know that this can be fairly expensive. The conversion will happen in your PayPal account, so you will have to pay a currency exchange fee of 5%. Additional fees may also apply for cross-border transfers.

Consider Instant Transfer fees 

If you are not in a rush and want to avoid fees, you should stick to the Standard Transfer offered by Venmo. You’ll receive your money in your bank account in 1–3 business days. When you choose Instant Transfer, you will see funds in your account in several minutes but will pay a 1.75% fee.

Keep the same name for your services 

Another recommendation that can make your life easier in different situations is to have the same name in your bank account and your PayPal and Venmo accounts. This ensures the unproblematic transfer of funds between the accounts, and you can be confident that you meet any regulatory requirements. 

Keep the accounts linked for a quick transfer of funds 

It is a good idea to keep your PayPal and Venmo accounts connected, so you can transfer money whenever you need without having to verify your bank account again by making deposits. 

Now, there is no need to ask your friends or google how to connect Venmo to PayPal, as all the information you need is in this article. With the recommendations mentioned above, you can enjoy the convenience and ease of this transfer option. 

Conclusion:-

Can you transfer from Venmo to PayPal without any issues or overwhelming steps? Absolutely! Now you no longer have to wonder how to get money from Venmo to PayPal. The entire process is extremely straightforward and requires you to have only both payment services and a single bank account. 

The benefits of linking Venmo to PayPal are the following:-

• You can easily transfer money from paypal to venmo account whenever you require. This can be done either immediately or using Standard Transfer, which takes a few days.  
• PayPal has a lot more features for online shopping, so you can receive money in your Venmo account and then spend it using PayPal for maximum convenience. 
• PayPal is an international service as opposed to Venmo. If you need to make payments worldwide in different currencies, it makes sense to send money from Venmo to PayPal.

Having Venmo is an easy way to get money from people you know without fees. In this sense, PayPal is a more extensive service that works well for business and personal purposes. By linking these two popular payment services, you get the best of both worlds. 

FAQs:-

How do I transfer money from Venmo to PayPal without fees?

There are no fees associated with sending or receiving money while using Venmo. The same goes for receiving funds from your bank account to PayPal. However, a 1.75% fee is always applied with the Venmo Instant Transfer option and a 5% fee for currency conversion. To avoid them, you should stick to a Standard Transfer that takes 1–3 days and use the same currency. 

Are there alternatives to Venmo-to-PayPal transfers other than through a bank account?

When it comes to Venmo-to-PayPal transfers, the best option is having a single linked bank account, as by using other alternatives, such as third-party services, you will have to pay fees. 

Can I reverse a Venmo to PayPal transfer?

It is impossible to transfer Venmo money to PayPal directly. If you send money from Venmo to your bank account (or from it to your PayPal account) by accident, you can simply send it back. Or, you can contact customer support to reverse this payment. 

Can I transfer funds from PayPal to Venmo directly and without additional steps?

No. It is impossible to simply link the two services, as no direct integration is available. The solution is to have a single bank account for both services and use it as a transitional platform for your money.

How do I transfer Venmo to PayPal without a bank account? 

You can incorporate an additional service if you want to perform a money transfer from Venmo to PayPal without using a bank account. Some of the options that you can use are TransferWire and Xoom. It is recommended to always check potential fees, as they can differ depending on the payment service provider.