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In today's digital age, transferring money between different payment platforms has become a common necessity. Two of the most popular payment services, Venmo and PayPal, offer convenient ways to send and receive money. However, transferring money directly from Venmo to PayPal can be a bit tricky, as there is no direct link between the two services. In this comprehensive guide, we'll walk you through the steps to seamlessly transfer money from Venmo to PayPal.
Link Your Bank Account to Both Venmo and PayPal
Before you can transfer money from Venmo to PayPal, you need to have a common bank account linked to both your Venmo and PayPal accounts. This bank account will act as an intermediary for the transfer.
Linking Your Bank Account to Venmo:
Linking Your Bank Account to PayPal:
Transfer Money from Venmo to Your Bank Account
Once your bank account is linked to both Venmo and PayPal, you can initiate the transfer from Venmo to your bank account.
Transfer Money from Your Bank Account to PayPal
After the funds have landed in your bank account, you can now transfer them to your PayPal account.
By following these steps, you can effectively transfer money from Venmo to PayPal using a linked bank account as an intermediary. While the process involves a few steps, it's a reliable way to move funds between these two popular payment platforms.
Link Your Bank Account to Both Venmo and PayPal
Before you can transfer money from Venmo to PayPal, you need to have a common bank account linked to both your Venmo and PayPal accounts. This bank account will act as an intermediary for the transfer.
Linking Your Bank Account to Venmo:
- Open the Venmo app and tap the "☰" icon at the top of the app.
- Select "Settings" and then "Payment Methods."
- Tap "Add a bank or card..." and select "Bank."
- Choose your preferred verification method (Instant or Manual) and follow the prompts to link your bank account.
Linking Your Bank Account to PayPal:
- Log in to your PayPal account and click on "Wallet" at the top of the page.
- Click on "Link a bank account" and select your bank.
- Enter your bank account details and click "Agree and Link."
- Verify your bank account following PayPal's instructions.
Transfer Money from Venmo to Your Bank Account
Once your bank account is linked to both Venmo and PayPal, you can initiate the transfer from Venmo to your bank account.
- Open the Venmo app and tap on the "☰" icon.
- Select "Manage Balance" and then "Transfer to Bank."
- Enter the amount you wish to transfer and select the transfer speed (Instant or 1-3 Business Days).
- Review the transfer details and tap "Transfer" to complete the process.
Transfer Money from Your Bank Account to PayPal
After the funds have landed in your bank account, you can now transfer them to your PayPal account.
- Log in to your PayPal account and click on "Wallet."
- Click on "Transfer Money" and then "Add money to your balance."
- Select your linked bank account as the source and enter the amount you wish to transfer.
- Review the details and click "Add" to initiate the transfer.
- Transfer Times: Keep in mind that transfer times can vary. While Venmo offers instant transfers for a fee, standard transfers can take 1-3 business days. PayPal transfers from your bank account can also take a few business days to complete.
- Fees: Venmo charges a fee for instant transfers, while standard transfers are free. PayPal does not charge a fee for transferring money from your bank account to your PayPal balance.
- Transfer Limits: Both Venmo and PayPal have transfer limits that you should be aware of. Check their respective websites for the most current information on transfer limits.
By following these steps, you can effectively transfer money from Venmo to PayPal using a linked bank account as an intermediary. While the process involves a few steps, it's a reliable way to move funds between these two popular payment platforms.
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