It's great you're looking for ways to transfer funds between different platforms! While Venmo and PayPal are both popular digital payment services, they don't offer a direct, built-in feature to send money directly from one to the other. This is because they are essentially competitors, each wanting users to stay within their own ecosystem.
However, don't worry! There are still a few workarounds you can use to achieve your goal. This comprehensive guide will walk you through these methods step-by-step. Let's get started with the first crucial step:
Step 1: Understanding the Limitations and Choosing Your Method
Before we dive into the "how-to," it's important to understand why a direct transfer isn't available. As mentioned, Venmo and PayPal are separate entities. Think of it like trying to directly transfer money between two different banks without using an intermediary. It's just not how their systems are designed.
Now, let's explore the common methods people use to bridge this gap. Take a moment to consider which of these options might work best for you based on your needs and the resources you have available:
Method 1: Using a Bank Account as an Intermediary
This is generally the most straightforward and often the cheapest method. It involves withdrawing funds from one platform to your linked bank account and then depositing those funds into the other platform.
Method 2: Using a Debit Card (with limitations)
In some cases, you might be able to withdraw funds from Venmo to a linked debit card and then use that debit card to add funds to your PayPal account. However, this method can sometimes come with fees and might not be universally available.
Method 3: Utilizing Third-Party Services (Be Cautious!)
While there aren't many well-established third-party services specifically designed for Venmo-to-PayPal transfers due to the direct competition, you might encounter some less common or potentially risky options online. Exercise extreme caution if you consider this route, as security and reliability can be significant concerns. We will not be focusing on these less reliable methods in this guide.
For the purpose of this detailed guide, we will primarily focus on Method 1 (using a bank account) as it's the most common and generally safest approach. We will also briefly touch upon Method 2 (using a debit card).
Step 2: Transferring Funds from Venmo to Your Bank Account
This step involves withdrawing the money you want to send from your Venmo balance to your linked bank account.
Sub-step 2.1: Ensure Your Bank Account is Linked to Venmo
- Open the Venmo App: Launch the Venmo application on your smartphone.
- Navigate to Your Profile: Tap on your profile picture or the "Me" tab (usually in the bottom right corner).
- Access Settings: Look for a gear icon (⚙️) in the top right corner and tap on it to open the settings menu.
- Go to Payment Methods: Select the "Payment Methods" option.
- Verify Your Bank Account: Ensure your bank account is listed here and that it's verified. If it's not listed, you'll need to add it by tapping "Add bank or card..." and following the on-screen instructions. This usually involves entering your bank's routing and account numbers. Venmo may require a verification process, which can take a few days and might involve small test deposits to your bank account.
Sub-step 2.2: Initiate the Withdrawal
- Return to Your Profile: Go back to your profile screen in the Venmo app.
- View Your Balance: You should see your current Venmo balance at the top. Tap on it.
- Select "Transfer to Bank": You will see options related to your balance. Choose "Transfer to Bank."
- Enter the Amount: Type in the amount of money you want to transfer to your bank account.
- Choose Transfer Speed: You'll usually have two options:
- Standard (1-3 business days): This is typically free.
- Instant (usually within minutes): This usually incurs a small fee. Select the option that suits your needs.
- Confirm the Transfer: Review the details carefully, ensuring the amount and bank account are correct, and then tap "Transfer." You might be asked to confirm with your fingerprint, face ID, or Venmo PIN.
Sub-step 2.3: Wait for the Funds to Arrive in Your Bank Account
- Keep an eye on your bank account activity. The processing time will depend on the transfer speed you selected (1-3 business days for standard, potentially minutes for instant).
Step 3: Transferring Funds from Your Bank Account to PayPal
Once the funds have successfully landed in your bank account, you can now deposit them into your PayPal account.
Sub-step 3.1: Ensure Your Bank Account is Linked to PayPal
- Open the PayPal App or Website: Launch the PayPal application on your smartphone or go to the PayPal website (
www.paypal.com - Go to Your Wallet: Look for the "Wallet" section. This is usually accessible from the main dashboard.
- Link a Bank Account (if not already linked): If your bank account isn't already listed, you'll need to add it. Click on "Link a bank account" or a similar option and follow the on-screen instructions. You will likely need to enter your bank's routing and account numbers. PayPal also often has a verification process involving small test deposits.
Sub-step 3.2: Add Funds to Your PayPal Balance
- Navigate to Your Wallet: Go back to the "Wallet" section in your PayPal account.
- Find the "Add Funds" Option: Look for an option like "Add funds," "Top up balance," or similar.
- Select Your Linked Bank Account: Choose the bank account you just linked (or the one where you received the Venmo transfer).
- Enter the Amount: Type in the amount of money you want to transfer from your bank account to your PayPal balance. Ensure this matches the amount you withdrew from Venmo.
- Review and Confirm: Double-check the details and click "Add Funds" or a similar confirmation button.
Sub-step 3.3: Wait for the Funds to Appear in Your PayPal Balance
- PayPal usually processes these transfers within 1-3 business days. You should receive a confirmation email once the funds are available in your PayPal balance.
Step 4: Considering the Debit Card Method (with Caveats)
As mentioned earlier, you might be able to use a debit card linked to your Venmo account to add funds to PayPal. Here's a general idea of how this could work, but keep in mind that availability and potential fees can vary:
Sub-step 4.1: Ensure Your Debit Card is Linked to Venmo
- Follow the same steps as in Sub-step 2.1 to ensure your debit card is linked to your Venmo account.
Sub-step 4.2: Withdraw Funds to Your Debit Card from Venmo
- Follow the steps similar to Sub-step 2.2, but when you choose the transfer method, you might see an option to transfer to your linked debit card. Be aware that this often comes with a fee, and the processing time can vary.
Sub-step 4.3: Add Funds to PayPal Using Your Debit Card
- Open the PayPal App or Website: Log in to your PayPal account.
- Go to Your Wallet: Navigate to the "Wallet" section.
- Link Your Debit Card to PayPal (if not already linked): If your debit card isn't linked, click "Link a card" and follow the instructions.
- Add Funds Using the Linked Card: Look for the "Add Funds" option and see if you can directly add funds using your linked debit card. If this option is available, select your Venmo-linked debit card and enter the amount.
Important Note: This debit card method is less reliable and might incur more fees compared to the bank account method. PayPal's policies on adding funds via debit cards can also change, so this option might not always be available.
Step 5: Final Thoughts and Considerations
Transferring money between Venmo and PayPal indirectly through a bank account is the most common and generally recommended approach. It's usually the cheapest, although it involves a slightly longer process due to the intermediary bank transfer.
Always be mindful of potential fees associated with instant transfers on Venmo or when using debit cards. Double-check all account details before initiating any transfers to avoid errors.
How to: Frequently Asked Questions
Here are 10 frequently asked questions related to sending money from Venmo to PayPal:
How to check if my bank account is linked to Venmo?
Quick Answer: Open the Venmo app, go to your profile, tap the gear icon (settings), select "Payment Methods," and your linked bank accounts will be listed there.
How to add a bank account to my Venmo account?
Quick Answer: In the Venmo app, go to "Payment Methods" in settings and tap "Add bank or card..." Follow the on-screen instructions, which usually involve entering your routing and account numbers.
How to withdraw money from Venmo to my bank account?
Quick Answer: On your Venmo profile, tap your balance, select "Transfer to Bank," enter the amount, choose the transfer speed, and confirm.
How to check if my bank account is linked to PayPal?
Quick Answer: Log in to your PayPal account (app or website), go to your "Wallet," and your linked bank accounts will be listed under "Banks and cards."
How to add a bank account to my PayPal account?
Quick Answer: In your PayPal "Wallet," click "Link a bank account" and follow the instructions, providing your bank's routing and account numbers.
How to add funds to my PayPal balance from my linked bank account?
Quick Answer: In your PayPal "Wallet," look for an "Add funds" or similar option, select your linked bank account, enter the amount, and confirm.
How to check the fees for instant transfers on Venmo?
Quick Answer: When you initiate a withdrawal on Venmo and choose the "Instant" option, the fee amount will usually be displayed before you confirm the transfer.
How to link a debit card to my Venmo account?
Quick Answer: In Venmo settings under "Payment Methods," tap "Add bank or card..." and select "Card." Enter your debit card details.
How to link a debit card to my PayPal account?
Quick Answer: In your PayPal "Wallet," click "Link a card" and enter your debit card information.
How to find alternative third-party services for Venmo to PayPal transfers?
Quick Answer: While not widely recommended due to potential risks, you can search online for such services. However, exercise extreme caution and research their legitimacy and security thoroughly before using them. It's generally safer to use the bank account intermediary method.