How Venmo to PayPal Money Transfers Work With $0 Additional Fee

Previously we have talk about how indirect money transfer work between different apps. Now it is time to tell our readers how you can send money from Venmo to PayPal without paying any extra fee!

If you wish to transfer money from Venmo to PayPal or send funds from Paypal account to Venmo, you need to be clear about one thing:

This process can not be completed directly and you have to work with a few extra steps to get it done.

Luckily, you have come to the right place looking for all the answers.

Can You Transfer Money From Venmo To PayPal?

Although there is no direct route to send money from Venmo to PayPal, the alternative is not painfully difficult to perform either.

Instead, you need to create a tie between the two apps before any money transfers can take place. Typically, both apps have to be connected to the same bank account after which you can add money to the same bank from either of the app and send it to the other one.

If you are still confused about how things work, we will break down the process for you into simpler words.

Here’s what you need to know in a nutshell:

  • You must first connect Venmo or PayPal to a bank account
  • Transfer the funds from the app to the bank
  • Move money from the bank account to the other app

Doesn’t this sound easy? Actually, this is the only method that currently exists for sending money from PayPal to Venmo and vice versa.

We are hopeful that in the future, more methods might surface that allow for direct exchange of funds between the applications but right now, lets try to get a hold of this one!

How To Send Money From Venmo To PayPal?

To make things super easy for you to understand, we have divided the process into 5 simple steps. Take a look!

Step 1

First of all, download the Venmo app and create an account.

If one does not exist before then you also have to deposit some funds on to it.

The app is available on both, Android and iOS.

Visit the main settings of the Venmo app and from there, link it to your bank account. Then you can send money from Venmo to bank account.

Note! enmo transfers are free as long as you decide to go with standard exchange. In case you choose, instant money transfer, a 1% fee will apply.

Step 2

The next step is to create a PayPal account. If you already have one, then you simply need to provide your login credentials and open it on your desktop or the mobile app.

Step 3

Now before PayPal can accept funds from another account, you need to set up PayPal Cash or PayPal Cash Plus. These features would allow you to send money to PayPal account.

This may seem like a tricky step to perform but it is actually quite simple especially if you already have a verified account.

Otherwise, follow the procedure to get your account verified and then you can accept funds on PayPal.

Step 4

Once all the necessary steps have been performed on PayPal account, you just have to tap on Add Money or click on Transfer Money option that is available under PayPal balance.

Step 5

In the last step you have to use your bank account to transfer funds to PayPal. This can be the exact amount of money that you had previously sent from your Venmo account to the linked bank accounts.

Venmo To PayPal Money Transfer – It Is Completely FREE!

The best part about becoming a Venmo user is that this service is completely free.

There may be some fees that you need to watch out for but most of these are on selective services that are not a necessity for every accountholder.

For example, Venmo is completely free when you wish to transfer funds to a linked bank account or a debit card.

You can also receive and withdraw money from Venmo account without worrying about any charges.

However, there would be a 3% fee if you are using a credit card to make the transfer. Furthermore, you need to pay 1% fee if you opt to make an instant transfer.

The minimum is $0.25 whereas the maximum transfer fee is $10.

Venmo vs PayPal – In a Nutshell

There is no doubt that Venmo as well as PayPal are two famous payment platforms that can be utilized when one wishes to send or receive money from family members or friends. Since they basically serve the same purpose, you might be able identify a number of similarities between the two but there are a few basic differences as well.

PayPal Offers High Degree of Accessibility

Both the apps can be used on desktop or via mobile phones.

However, only PayPal lets you make online payments and transfer funds through the app as well. On the other hand, Venmo only allows money transfers using the mobile app.

Venmo Is More Suitable For In-App Transfers

The money sending features in the Venmo app are specifically designed to make instant and easy transfers to other Venmo accounts.

You can connect to them via Facebook account or phone contact numbers. Venmo money transfers are also supported by QR code scanning.

PayPal has some impressive features as well when it comes to sending money. You can initiate the transfer simply by creating a PayPal.

Me links and there will be no need to worry about sharing email IDs or any other personal information. PayPal users can connect in form of groups by creating PayPal Cash or Cash Plus account.

However, you have to keep in mind that there are some fees associated with sending or receiving money on PayPal. The app would charge 2.9% fee for using a credit card, debit card or reloadable app cards.

PayPal May Seem To Be a Costly Service

You can create Venmo and PayPal accounts for free. However, PayPal would charge 2.9% per transaction and also has a fee of $0.30 when making purchases via debit card or credit card.

Venmo also charges 3% per transaction but there are no other additional fees associated with credit card or debit card use.

In a nutshell, we can say that Venmo is typically meant for quick money transfers with outstanding features like Cash a Check or no fee for card usage.

The downside, however, is that this service is only available in the US and therefore not accepted by many retailers who work worldwide.

In contrast, PayPal has been made available in more than 200 countries at this time.

As compared to Venmo, it also offers higher transfer limit and best fraud and seller protection installed by any other competitive app. All these features come at a cost of high transaction rates and charges associated with debit card purchases.

Wrap Up

Hopefully, this article has answered most of your questions about how to transfer money from Venmo to Paypal. If you think we have missed out on something important, don’t forget to point it out in the comment section below. We would love to hear from you!

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.

Leave a Comment