Forums › Dragon Lord › Discuție Joc › Solution: How To Send Money From PayPal to Venmo
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04/06/2024 at 10:53 AM #21700
41675253ParticipantWhen it comes to send money from a PayPal account to Venmo, you’ll have three options, broadly speaking. First up, you can see that both parties move over to the same platform (i.e. you can open a Venmo account yourself or get your recipient to open a PayPal account.) On the other hand, if you’re sending money to yourself, you’ll either need to use a common bank account to bridge PayPal and Venmo or use a PayPal debit card to add to Venmo.
Unfortunately at this stage, there is no direct way to send money from PayPal to Venmo. Even though both payment platforms work in similar ways, and have a similar user experience, they’re not linked.
If you want to send money to someone from your PayPal account, the easiest way might be to simply have your recipient open a PayPal account and use that instead of trying to send it to Venmo. Opening an account with PayPal is easy and free. Once your recipient has opened their PayPal account they can then withdraw the payment you send to their regular bank account, or use it when shopping online for example.
However, that might not always be possible to just avoid the problem. So what to do if someone has asked you to Venmo them and you want to pay from your PayPal balance? Or if you’re looking to transfer money between PayPal and Venmo accounts you hold in your name?
Options for transferring money from PayPal to Venmo:
Send the money from PayPal to your linked bank account and then use it to fund a Venmo payment
Link a PayPal debit card to your Venmo account
Consider an alternative provider
Method #1: Send Money Through a Bank Account
If you’re likely to need to transfer funds between PayPal and Venmo regularly, it’s probably worth linking a common bank account to both PayPal and Venmo so you can set up transfers this way.
You’ll need to link your bank account to PayPal, and verify it in the PayPal app. Link the same account to your Venmo account. Then withdraw your funds to the bank account from PayPal, and send over to Venmo instead.
Costs: No fee for a standard transfer from PayPal to your bank account as long as no currency conversion is required. 1.75% fee to make an instant transfer or send to your linked card. If currency conversion is needed, an additional fee of 3% – 4% is applied.
Speed: Standard bank transfers may take a few days to arrive. For a quicker withdrawal, choose an instant transfer.
Method #2: Link PayPal Debit Card to Venmo Account
Another option is to order a PayPal debit card, and add this to your Venmo account. Link your PayPal card to Venmo, and then use it to make transfers which can be funded by your PayPal balance.
This can be handy as there should be no cost as long as your PayPal balance is already held in USD. However, if you don’t already have a PayPal card, it’s a slow option as it’ll take a few days to get your card delivered.
Costs: No monthly or annual card fees, so you shouldn’t need to pay any PayPal or Venmo charges to use this method, as long as no currency conversion is needed
Speed: It will take several days to receive your PayPal card – once you have it, transfers should be more or less instant
Method #3: Consider Alternative Providers
PayPal and Venmo can be good for USD transfers – but they’re not usually the best or cheapest option to send payments in other currencies. If you’re sending a payment in a foreign currency – or if you need to withdraw your balance in USD and then send it on to someone overseas, consider an alternative. -
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