You can send money from Venmo to PayPal but not directly since both apps don't integrate. Stick around to know how you can complete the transfer.
Mobile payment apps are getting widely used right now. If you a frequent user of most mobile payment apps, then you must have heard of PayPal and Venmo (especially PayPal).
Some questions arise amount the app users "Does PayPal own Venmo?" Yes PayPal does own Venmo. Other will ask "If PayPal own Venmo, why can't I directly send money from Venmo to PayPal?"
Though PayPal owns Venmo, there is no direct connection between both apps which means, under normal circumstances, you can't send money from Venmo to PayPal just as you can't directly transfer money from PayPal to Venmo.
In order to complete a transfer, you might have to use some tricky methods. You can use a linked U.S. bank account or the PayPal Cash Card as ways to transfer money from Venmo to Cash App.
For in-depth steps on each method, continue reading. In this article, I will show you how to send money from Venmo to PayPal.
What is Venmo?
One of the most popular digital payment apps is Venmo. Venmo has well than 40 million registered users, according to PayPal. Venmo's popularity stems from its user-friendly free app and rapid transfer times.
Users can get the app for free. To make transfers, consumers must first provide their bank or credit card details. Then they look for additional users to send money to.
Venmo transfers are fast and convenient. Users can, however, transmit money "instantly" for an additional fee. Traditional banks may charge fees for transactions, and accounts may not always provide a competitive interest rate. Venmo, a free-to-use software, is especially enticing for these reasons.
Venmo Unique Features
Venmo has various unique features. You can connect the app to your Facebook or contact list, for example. You can include a personal note or emoji while sending transfers.
Other users will be able to see your transfer if you make this note public (but not the money amount). You can also keep transfers between users private.
What is PayPal?
PayPal is generally referred to as the "first" digital payment app. There are about 346 million active users on the app. Last year, PayPal reported more than 3.7 billion transactions.
PayPal, like Venmo, is a free digital payment service. Users can send and receive transfers using the app. You can link your bank account to PayPal. You can also link your account to a debit or credit card. The majority of transfers are free. However, similar to Venmo, there is an extra cost for "instant transfers."
PayPal Unique Features
PayPal benefits several businesses in addition to user-to-user transactions. If you own an online store, you can accept payments through PayPal.
PayPal also offers a variety of currency alternatives. If your customers pay in several currencies, the app will keep their funds and give a daily currency exchange rate.
PayPal provides transaction security. PayPal's capabilities can protect merchants and buyers in the event of a transaction fraud, scam, or dispute.
Can You Send Money from Venmo to PayPal?
If we are to answer this question based on the solutions offered by both apps, then its a no. However, you can transfer money from Venmo to PayPal in with other tricky methods.
You can use your US bank account as a bridge for the transaction or use your PayPal Cash card.
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How to Send Money from Venmo to PayPal
When it comes to sending money from Venmo to PayPal, you have two options at hand. You can use a bank account as a bridge or a PayPal Cash Card.
We will talk on how you can use each method to send money from Venmo to PayPal
Method 1: How to Send Money from Venmo to PayPal Using a Linked Bank Account
Using this method means, you will have to link your U.S. bank account to both your PayPal and Venmo account. You will be able to move funds between both apps using the bank account as an intermediate for the transaction.
Here are the steps to send money from Venmo to PayPal using a linked bank account.
Link You Bank Account to Venmo
The first and foremost step to take is to link your bank account to Venmo. Once linked, you will be able to withdraw funds from Venmo to your bank account. If you already have linked your bank to Venmo, you can skip this step.
Transfer Money from Venmo to Your Bank Account
Venmo lets you withdraw money to your U.S. bank account in two different ways. You can withdraw using the instant or standard withdrawal option. Depending on the method you choose, the process might take 1 to 3 business days. Instant transfers come with a fee of 1.5% (with a minimum fee of $0.25 and a maximum fee of $15) charged on the total amount to be withdrawn.
To do this, go to your account profile and select "Add or Transfer". Enter or edit the amount you would like to transfer to your bank. Tap "Instant" (for a small fee) or "1-3 Biz Days" (for no fee), and select your preferred bank account or debit card. Confirm your transfer details, and tap the green "Transfer" button.
Add Your Bank Account to PayPal
Once your funds are made available in your bank account, you will now have to link your bank to PayPal in order to initiate the transfer process.
You might need your bank account and routing number to link your bank account to PayPal.
Transfer Money from Bank Account to PayPal
Now the last thing to do is to transfer the funds from your bank account to your PayPal balance. To do this, log into your PayPal account and click "Transfer Money" under your balance on the home page. On the next page, click "Add money to your balance." Enter the amount of cash you wish to transfer from your bank, then hit "Add."
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Method 2: How to Send Money from Venmo to PayPal Using a PayPal Cash Card
This method is similar to transferring money from Venmo to debit card.
The PayPal Cash Card is a debit card that is linked to your PayPal Balance. The PayPal Cash Card is not a credit card in the traditional sense.
PayPal is not a bank and does not accept deposits on its own. The funds in your PayPal Balance account will not earn you any interest.
You can use the PayPal Cash Card as a bridge to send money from Venmo to PayPal.
All you need to do is to get the PayPal Cash Card, Add it to Venmo and request for instant transfer of funds to the card which will be made available in your PayPal account.
Get a PayPal Cash Card
If you don't have a PayPal Cash Card yet, you can apply for one. However, there are some requirements to be met in order to be eligible for the PayPal Cash Card.
Add Your PayPal Cash Card to Venmo
The next thing you need to do is to add your PayPal Cash Card to Venmo. The PayPal Cash Card is a debit card and Venmo lets you link your debit card to your account.
Transfer Money from Venmo to PayPal Cash Card
Venmo lets you perform an instant transfer of funds from your Venmo account to any eligible US Visa/Mastercard debit card typically within 30 minutes. A 1.5% fee (with a minimum fee of $0.25 and a maximum fee of $15) is deducted from the transfer amount for each transfer.
However, their pricing for instant transfers fees will increase to 1.75% as of 5/23/22, (with a minimum fee of $0.25 and a maximum fee of $25).
To transfer money from Venmo to PayPal Cash Card, open your Venmo account and navigate to your account profile. From there, tap "Add or Transfer" button and enter the amount you will like to transfer to your PayPal Cash Card. Next, tap "Instant" and select the PayPal Cash Card. Finally, confirm your transfer details, and tap the green "Transfer" button.
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Final Thoughts
PayPal and Venmo are two of the most prominent apps among the digital payment apps. Both apps are similar not only because of the services they offer but because they are owned by the same company.
Though PayPal owns Venmo, there is no direct way to send money from Venmo to PayPal. There are however, indirect ways to send money from Venmo to PayPal and this article compiles the two ways you can use to complete the transfer.