Can PayPal send to Venmo? What this PayPal send to Venmo?

Can PayPal send to Venmo? You can’t send a payment directly from PayPal to Venmo – or from Venmo to PayPal. However, there are a few workarounds if you hold money in PayPal and want to move it to Venmo – or vice versa.

We’ll look at some different ways to approach this in this guide, including using an alternative provider like Remitly or Wise. Alternative providers like these could be especially handy – and cut your transaction costs – if you hold a PayPal balance in a foreign currency and need to convert it to USD to move it to Venmo, or if you want to send an international transfer. We’ll cover more on that later.

Can PayPal send to Venmo?

The fees associated with sending money from PayPal to Venmo are minimal. For example, if you’re sending money from your PayPal balance to your Venmo balance, there’s no fee. The same goes for if you’re sending money from your Venmo balance to your bank account. However, if you’re sending money from your PayPal balance to someone else’s bank account, there is a small fee of $0.30.

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Alternatives for sending money from PayPal to Venmo
There are a few different ways that you can send money from PayPal to Venmo. The first way is to link your PayPal account to your Venmo account and then transfer the money from PayPal to Venmo. This can be done by going to the settings page on both accounts and linking them together.

Another way to send money from PayPal to Venmo is by using the PayPal app. You can log into your PayPal account on the app and then select the option to send money. Enter the amount of money you want to send and then select Venmo as the payment method. The last way to send money from PayPal to Venmo is by using a credit or debit card. You can add your card information to your PayPal account and then use it as a funding source when sending money through the Venmo app.

PayPal send to Venmo

Sending From PayPal To Venmo: What To Avoid

If you’re planning on sending money from PayPal to Venmo in the same currency, then the process should be totally free. However, if you’re planning on making a currency conversion at any point along the way, then the costs can stack up very fast.

This can happen in one of two ways if your PayPal account is in any currency other than US dollars. (Venmo accounts are always in US dollars as the service is only available in the US.) First, you can convert funds into US dollars in PayPal directly using your balance, in which case PayPal will make the currency conversion. Alternatively, you can deposit the money from your PayPal account into your bank account in US dollars, in which case your bank will make the currency conversion.

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The bad news is that both options are expensive because you will be charged a highly variable, nontransparent exchange rate margin fee of anywhere between 2.5% and 4.5% for PayPal (and often even higher with the bank) for converting currencies.

At Monito, we generally recommend against using PayPal when exchanging currencies, especially when sending money to a different country and currency. Instead, if you’re planning on sending money abroad, then we recommend you make an ordinary bank transfer to one of the many international money transfer specialist services out there — most of which allow you to take advantage of fees and exchange rates that come in at a fraction of the cost of PayPal or the high-street banks.

What to avoid when making transfers from Venmo to PayPal

When moving your money, one of the main things to look out for is cross-currency transfers. If you’re making a same-currency transaction from Venmo to your PayPal account, you don’t need to worry. The process will be very cheap or even free.

But if you plan on making a currency exchange, it can become a little more expensive. Say you want to use the funds in a currency other than the one they were in while in your Venmo account. This conversion will have to take place once the funds have arrived in your PayPal wallet.

PayPal has an exchange rate fee of 5% when it comes to international payments done through the PayPal balance or bank account. An additional markup of 4% can be added to the transaction too, which means that you’ll have a hard time knowing how much money you’ll have to send, and the total that will be received.

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While it’s a good thing to know that you can transfer money from your Venmo account to your PayPal account, the lack of integration between them leads to a lot of steps and waiting for the money to reach the destination. You also have to be extra attentive when converting currencies.

If you’re in a time crunch, a better option for you should be Wise, for a cheap and straightforward experience.

PayPal send to Venmo

FAQs

How long does the transfer from PayPal to Venmo take?

The transfer time may vary, but it usually takes 1-3 business days for the money to move from PayPal to your bank account. Adding it to Venmo is almost instant.

Is there a fee for transferring money between PayPal and Venmo?

Typically, both PayPal and Venmo don’t charge fees for standard transfers between bank accounts. However, check their respective policies for the most accurate information.

Can I send money from Venmo to PayPal?

No, you can’t send money directly from Venmo to PayPal. The transfer process primarily flows from PayPal to Venmo.

Are there any limits on transferring money from PayPal to Venmo?

Both PayPal and Venmo may have specific limits on transactions. Check their guidelines to ensure your transfer falls within these limits.

Is it safe to transfer money between PayPal and Venmo?

Yes, it’s generally safe to transfer money between these platforms if you follow the recommended steps and keep your account information secure.

Can I use a credit card for this transfer?

The process described above primarily involves bank account transfers. While you can use credit cards on PayPal, the transfer between PayPal and Venmo typically relies on bank accounts.

PayPal send to Venmo

Above is information about Can PayPal send to Venmo? What this PayPal send to Venmo? that we have compiled. Hopefully, through the above content, you have a more detailed understanding of PayPal send to Venmo. Thank you for reading our post.

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