Updated on August 14, 2022
It was previously discussed how money can be sent across apps in an indirect manner. It’s time to show our readers how to send money from Venmo to PayPal for free!
In order to transfer money from Venmo to PayPal or transfer funds from PayPal to Venmo, you need to know one thing:
In order to complete this process, you will need to proceed through a few further steps.
Fortunately, you’ve found the proper location to ask all your questions.
Can You Transfer Money From Venmo To PayPal?
PayPal and Venmo don’t have a direct way to transfer money, but it’s not too difficult to do so either.
Before you can send money between the two applications, you’ll need to establish a connection between them.
For this to work, both apps often need to be linked to the same bank account before you can send money from one app to the other.
Let us simplify the procedure for you if you’re still unclear about how things work.
In a nutshell, here’s all you need to know:
You must first link your bank account to Venmo or PayPal.
Make a bank deposit using the money you received from the app.
Make a transfer of funds from your bank account to the app.
Isn’t this something everyone can do? This is the only way to transfer money from PayPal to Venmo and vice versa at this time.
This method is the only one now available that allows for the direct transfer of payments between applications, so let’s take use of it while we can!
How To Send Money From Venmo To PayPal?
We’ve broken down the procedure into five simple phases to make it easier for you to grasp. Check it out!
Download the Venmo app, and then sign up for a free account.
You’ll need to fund it, too, if it doesn’t already exist.
Both Android and iOS versions of the software are available.
To link your bank account to the Venmo app, go to the app’s primary settings. With Venmo set up, you’ll be able to move money across accounts.
Note that enmo transfers are free if you opt for a normal exchange. A 1% fee will be charged if you opt for a quick money transfer.
Creating a PayPal account is the next step in the process. If you already have an account, all you need to do is log in and access it on your desktop or mobile app.
The Third Step
Set up PayPal Cash or PayPal Cash Plus now before you can transfer funds from a different account to PayPal. Sending money to a PayPal account is now possible thanks to these new features.
If you already have a verified account, this may seem like a difficult task, but it’s actually fairly straightforward.
If you don’t have a verified PayPal account, you’ll need to do so before you can accept payments.
It’s as simple as tapping on Add Money or clicking Transfer Money under PayPal balance once you’ve completed all the appropriate steps on your PayPal account.
Step 5 Transferring money to PayPal from your bank account completes the process. Any money you’ve previously sent from your Venmo account to the associated bank accounts can be used in this transaction.
Venmo To PayPal Money Transfer – It Is Completely FREE!
As a Venmo user, the nicest feature is that it’s absolutely free.
It’s possible that you’ll have to pay fees for certain services, but these are often for specialised offerings that aren’t required for the majority of accountholders.
When sending money to a linked bank account or debit card, Venmo, for example, is absolutely free.
You won’t be charged anything for using Venmo to send or receive money.
Using a credit card, on the other hand, will result in a 3% transaction fee. To make an instant transfer, you’ll also have to pay an additional 1% charge.
The smallest transfer cost is $0.25, while the largest is $10.
Venmo vs PayPal – In a Nutshell
There’s no denying that Venmo and PayPal are two of the most well-known payment services for sending and receiving money from loved ones. You may be able to spot some parallels between the two, but there are also a few fundamental distinctions between the two.
PayPal is incredibly user-friendly.
It’s possible to utilise both apps on a computer or a smartphone.
Only PayPal, on the other hand, enables mobile payments and fund transfers. The Venmo app, on the other hand, is the only way to send money.
In-app transfers are better suited to Venmo.
Transferring money between Venmo accounts is quick and simple thanks to the app’s money transferring tools.
These people can be contacted through Facebook or phone number. QR code scanning is also supported by Venmo money transfers.
Additionally, when it comes to sending money, PayPal has a number of useful options. To begin the transfer, all you need to do is open a PayPal account.
There will be no need to exchange email addresses or any other private information if you use the Me links. Create a PayPal Cash or Cash Plus account to join other PayPal users in a group.
You should be aware, however, that using PayPal to transfer or receive money comes with some costs. It would charge 2.9% for using a credit card, debit card, or a reloadable app card to pay for the app.
PayPal May Seem To Be a Costly Service
Venmo and PayPal accounts can be set up for free. As a result, PayPal charges 2.9% per transaction plus a $0.30 transaction fee when using a debit or credit card.
Using a credit card or debit card is free with Venmo, however the service does levy a fee of 3% for each transaction.
In a word, Venmo is designed for fast money transfers with excellent features like Cash a Check or no fee for card use…
Many retailers around the world, however, do not accept this service because it is only offered in the United States.
As an alternative, PayPal can currently be used in over 200 countries.
Additionally, it has a bigger transfer limit and better fraud and seller protection than any other comparable service, making it a better alternative to Venmo. Debit card purchases have high transaction rates and fees, thus these services come at a price.
Most of your inquiries about transferring money from Venmo to PayPal have been answered in this post. Make sure to leave a remark if you think we’ve overlooked something vital. Please get in touch with us!
Frequently Asked Questions About Venmo and PayPal Money Exchange Services
Do I have to pay any additional costs for Venmo transfers?
No. Luckily, there are no additional charges when you are sending over money using Venmo app. However, if you choose to make an instant payment then that would incur 1% additional fee and credit card transfers have 3% additional charges.
Is it possible to cancel a Venmo money transfer after it has been initiated?
No, you can not cancel a money transfer made via this app after you have hit the send button. The only way is to request the owner of the other account to return the funds since they had been sent by mistake. Moreover, it is possible to cancel the payment if you have sent to email ID or phone number.
When working with Venmo to PayPal money transfer, would my transaction be covered with PayPal’s Protection policy?
Yes. Venmo transactions are safeguarded by PayPal Seller Protection Policy.
How can I retrieve the payment sent to an inactive Venmo account?
If you want to take back a payment that you have already spent then the first thing to do is to open the Venmo app and click on the three bars towards the upper-left corner of the main screen. Then click on Incompletely and tap to open the Payment tab. Lastly, you have to choose Cancel Payment and that would bring back the money that you had previously sent.
Does it take long to send money from Venmo to PayPal?
It is possible to send money from Venmo within 30 minutes if you choose to do instant transfers. This option is available on the weekends and holidays as well. Nonetheless, you can choose standard money transfer if waiting for 3 to 4 days is not a problem for you. Instant money transfer incurs extra charges and is only available to those with VISA or Mastercard debit cards.