How To Transfer Money From Venmo To PayPal

Do you know, how can you transfer money from venmo to paypal? We have all the information you need to figure it out, click here to find out more.

By Amily Smith Last updated Nov 4, 2022

It’s possible that PayPal and Venmo are the apps that are most recognizable to you. But sending money from Venmo to PayPal will be more challenging than you anticipate. Despite their similarities and Venmo’s ownership by PayPal, the two mobile payment systems aren’t connected and can’t transfer funds directly. Both offer mobile apps and websites linked to your bank account and use email addresses to distinguish user accounts.

Fortunately, Venmo to PayPal transfer still an achievable task, though the speed and convenience you’ve come to expect from the services will no longer be available.

More information, including how can you transfer money from Venmo to PayPal account, it will be found in the following paragraphs. But before we get into that, let’s go through the fundamentals.

Continue reading for more information and a quick guide to this simple task.

About

What You Need

We’ll assume that you are aware of how Venmo functions. By clicking on the provided links, you can download an online app for both Android and iOS devices. A bank account, in this case the one you use for PayPal, is connected to Venmo.

You must have money in the same bank account aside from that. You can do this by using the Venmo app to transfer money from Venmo to your bank account. In the section that follows, we’ll also explain that. The money transfer normally takes up to three business days, but if you can’t wait, you can pay the 1% fee and the money will be transferred right away.

Since the Venmo transfers won’t function on the desktop version of PayPal, you also need the PayPal app for Android or iOS. However, this could change in the future; for more information, visit the official PayPal support website.

Quick Instructions for Venmo

Here’s how money transfers on Venmo work:

When Receiving Money

You must provide a bank account in order to receive money through Venmo:

Launch the Venmo app.
Tap on the three-line menu at the top.
Tap on Payment Methods.
Choose to Add a Bank or Card, followed by Bank.
Type in your bank account information. Don’t worry, Venmo is very safe.

You don’t need to confirm your bank account, but you should. After that, you can send money from Venmo to your bank.

When Sending Money

Follow the instructions to send money from Venmo to your bank account:

Start Venmo on your device.
Tap on the three lines near the top.
Tap on Manage Balance, Transfer Money or Transfer to Bank. These are all options for different devices.
Select the amount of money you want to send, and the method of sending (normal or instant).
Confirm that you want to transfer the money. Make sure to double-check the bank account info.

Now that you’ve sent money from Venmo to your bank account, you can use this money for PayPal.

How to transfer money from Venmo and PayPal

Even though Venmo and PayPal can’t be linked directly, you can still move money from venmo to paypal.

Follow the steps below to make this happen:

1. Set up a bank account and link it to both your PayPal and Venmo accounts:

Visit your PayPal account and choose If you’re on the website, link a bank. If you’re using the mobile app, go to Banks and Cards.
Type in your online banking information and make two small deposits.
Go to your Venmo account, click on Settings, and then click on Payment Methods.
Choose your verification method and click “Add a bank or card.”

2. Once both Venmo and your bank account are linked, go to Venmo, click Transfer to Bank, and enter the amount you want to send.

3. Choose the type of transfer you want—immediate or 1-3 business days—and then tap Transfer.

4. Then, go back to your PayPal account and click on the “Transfer Money” button. ³

5. Click “Add money to your balance,” and you’ll see the bank account that’s linked to both your Venmo and Paypal accounts.

6. Pick that bank account and press the “Add” button. In 3–5 business days, the money will be in your PayPal account.

That’s it; the funds will appear instantly on your PayPal account. How to send money from Venmo to PayPal is as follows. You will receive the same amount because there are no extra charges or taxes. It may take a few days, but the wait is worthwhile.

It’s up to you whether or not to expedite the process by paying the instant Venmo fee. Consider waiting a while if you’re sending a lot of money rather than paying too much.

Is it possible to use Venmo internationally?

Before we begin, let’s address the obvious question: can Venmo be used internationally, and can it be used to send money from the United States to other countries?

The simple answer is no. Venmo does not support international transactions, and the app is only available to residents of the United States. To use Venmo, let alone send and receive money through online banking, both the sender and the recipient must have US bank accounts and, in some cases, Social Security numbers.

Venmo-to-PayPal transfer considerations

1. Check Your Currency

Transferring money from Venmo or PayPal to an international bank account involves currency. Knowing the currency rate helps. PayPal late fees are 5%. The transaction usually adds 4%.

2. Ensure account setup.

Without proper account setup, PayPal Venmo funds cannot be sent. Alternatively, check both versions. Transferring funds with PayPal requires a Cash or Cash Plus account.

3. Fund transfer duration

Money! Money! Money! Fast. Consider the delivery time. Usually 3–5 business days.

Move Venmo Money to PayPal

To send Venmo to PayPal, follow the steps below:

Link your bank account to PayPal and Venmo.
“Link a bank” or “Banks and Cards” on the website or app.
Enter your banking information under payment choices.

Follow the steps below to transfer money from Venmo to your bank account:

“Transfer to Bank” on the Venmo app or website.
Enter the amount
Choose between paying a 1% transaction fee for the “Instant” feature or the free “1-3 Biz Days.”
Choose “Transfer.”

What To Avoid When Transferring From Venmo To PayPal

If you want to transfer money from Venmo to PayPal account in the same currency, the process should be very cheap, if not free. However, if you intend to make a currency conversion at any point along the way, things can quickly become prohibitively expensive.

To transfer money from Venmo to PayPal in another currency, you must convert the funds once they arrive in your PayPal wallet. When exchanging currencies, we generally advise against using PayPal, especially when sending money to a different country and currency. This is due to a highly variable, opaque fixed fee that PayPal charges for every international money transfer, in addition to an exchange rate margin fee ranging from 2.5% to 4.5%. As a result, PayPal quickly becomes one of the most expensive ways to send money internationally and exchange currencies in general.

Instead, if you’re sending money abroad, we recommend making an ordinary bank transfer to one of the many international money transfer specialist services available, most of which offer fees and exchange rates that are a fraction of the cost of PayPal or high-street banks.

FAQs

If I accept a Venmo payment, will I be charged?

No. Receiving payments in Venmo is completely free. When it comes to making payments, the situation is quite different. You will be charged the same fees as with PayPal.

I made a mistake, Can I cancel a Venmo payment?

Regrettably, no. Money is sent almost instantly on Venmo, and there is no way to cancel it once you’ve authorised it. You must contact the user you accidentally paid in order for the funds to be returned to you.

You can, however, cancel your payment if you send it to someone who does not have a Venmo account.

Can I perform Venmo transactions on my desktop?

No, not right now. You can currently only make transactions on your mobile device using the app. I’m hoping that in the future, we’ll be able to access our Venmo accounts from our computers.

How do I cancel a payment to an inactive or non-existent Venmo account?

Locate and tap the icon in the upper left corner of the app.
Tap “incomplete” when you find it.
Navigate to the payment tab.
Tap “cancel” to the right of the payment summary.

Is Venmo available internationally?

No, Venmo is only available to US residents who send money in US dollars to other US residents. Use Monito’s real-time comparison engine to find and compare low-cost alternative services for sending money abroad.

Is Venmo available in Canada?

No, Venmo is only available in the United States. You can find information on how to send money to Canada from the United States here.

Is Venmo available in other countries?

No, Venmo is only available to residents of the United States.

What countries are supported by Venmo?

Venmo is not an international money transfer service, so it cannot be used to send money outside of the United States. Venmo is, however, legal in some US territories, specifically the US Virgin Islands, Puerto Rico, and Guam. American Samoa and the Northern Mariana Islands do not have Venmo.

What kind of security does Venmo provide?

Venmo transactions are covered by PayPal’s Seller Protection Policy.

What is the best Venmo alternatives?

There are numerous good options for sending money abroad via mobile phone, some of which are as fancy and user-friendly as Venmo. Use Monito’s real-time comparison engine to find and compare low-cost alternative services for sending money abroad.

Conclusion

It’s not the fastest way to transfer Venmo money to PayPal, but it does the job. All that is required for the two money transfer services is a shared bank account. In the future, it is hoped that PayPal and Venmo will support direct transfers, which would make life much simpler for everyone.