Paul Smith

Can You Send Money From Paypal To Venmo Account?

It is not possible to directly Can You Send Money From Paypal To Venmo or Venmo to PayPal. There are some workarounds for those who have money in PayPal but want to transfer it to Venmo or vice versa.

This guide will discuss alternative providers like Wise or Remitly as well as how to do this. These alternative providers could prove to be very useful - and reduce your transaction costs. This is especially true if you have a PayPal balance that you need to convert to USD to move it into Venmo or send international transfers. More information will be provided later.

Is it possible to send money from PayPal to Venmo?

You can't currently send money directly from PayPal to Venmo. There are some workarounds that we will explore in this guide.

PayPal and Venmo may not be the only options for payment - or even the best provider of transfer services. These guides will help you learn more about Venmo and other alternatives to PayPal.

Alternatives to International Transfers

Venmo and PayPal are great for sending quick, easy payments in the US. They may not be the best choice if you have to send money overseas. Venmo is not available internationally. You can also use PayPal to send money overseas but you will be charged a conversion fee and some very steep fees.

You don't need Venmo or PayPal to send money internationally. Here are some alternatives.

Remitly and Wise are popular options. Let's compare these providers and see what features and fees we can expect.

Wise Money Transfer

  • Send money to more than 70 countries in 50+ currencies, at the mid-market exchange rates
  • For convenience, transfer funds are deposited in the bank account of the recipient
  • Payouts can be made online or through the Wise app in a matter of minutes.

Money Transfer via Remitly

  • Supported currencies include more than 75, with multiple payout options, including mobile and bank money deposits and cash collection.
  • You can choose between a cheaper economy transfer fee or a quicker express payment that can be received in minutes.
  • Exchange rates often include a markup that is lower than the markup added to regular banks.

XE Money Transfer

  • Online and via the XE app, send payments to 130+ foreign currencies and 220+ territories.
  • You can pay by bank transfer or card and your money will be transferred directly to the bank account of your recipient.
  • Exchange rates often include a markup that is lower than that added by regular banks.

The specific payment you are making will determine which alternative provider you choose. Double-check that the provider you choose supports the country where you are sending money and allows you to pay using the payment method you prefer. You can then compare the fees and exchange rates of each provider to find the one that offers the best cost-benefit ratio.

How to send money from PayPal to Venmo.

At this time, there is no way to transfer money directly from PayPal to Venmo. Although both payment platforms are similar and offer a similar user experience they are not linked.

It is possible to send money from your PayPal to Venmo account by simply having your recipient create a PayPal account. It is simple and free to open a PayPal account. After your recipient has created a PayPal account, they can withdraw the money to their regular bank account or use it online to shop.

It might not be possible to avoid all problems. What do you do if Venmo someone asks you to Venmo them? And you want to pay with your PayPal balance. You might also want to transfer money from Venmo and PayPal accounts that you own.

There are several options for transferring money from PayPal to Venmo

  • You can send the money to PayPal to your linked account, and then use it for a Venmo payment.
  • You can link a PayPal debit card with your Venmo account
  • You might consider switching to another provider

Method 1: Send money through a bank account

It's worth linking your bank account to PayPal and Venmo if you are likely to be transferring funds frequently between PayPal and Venmo.

To link your bank account with PayPal, you will need to verify it using the PayPal app. You can also link the same account with your Venmo account. You can then withdraw funds from PayPal to your bank account and transfer them to Venmo.

Costs: A standard transfer from PayPal into your bank account is free of charge, provided that no currency conversions are required. Send an instant transfer to your linked card or pay 1.75% Additional fees of 3% to 4% may be charged if currency conversion is required.

Speed: Standard bank transfers can take up to a few days for delivery. You can withdraw your funds faster by choosing a Venmo Instant Transfer.

Method 2: Link PayPal Debit card to Venmo account

You can also order a PayPal debit credit card and link it to your Venmo account. You can link your PayPal card with Venmo and use it to make payments that are funded from your PayPal balance.

This is a great option as it will not cost you anything, as long as your PayPal balance remains in USD. It's not an option if you don’t have a PayPal account. It may take several days for your card to be delivered.

Costs: There are no monthly or annual fees for this card. You don't have to pay PayPal or Venmo fees to use it. As long as you do not need to convert currency.

Speed: You will need to wait several days for your PayPal card. Once you do, transfers should take less than a minute.

Method 3: Look at other providers

PayPal and Venmo are good options for USD transfers, but they are not the most cost-effective or efficient way to send money in other currencies. You can send a payment in foreign currency, or withdraw your USD balance and then send it to someone abroad.

You could open an online Wise account for free and link it to your PayPal account. You can withdraw your USD to Wise funds and then convert them into the currency that you require for your payment with the low mid-market exchange rate, as well as the Wise fees starting at 0.41%.

This allows you to avoid the PayPal currency conversion fee, which can run up to 3% and 4% depending on the type of transaction. However, it still allows you to send your funds in your currency choice.

Here are some reminders of providers we reviewed earlier and reasons you might want to consider them.

Wise review: Great for cheap transfers to bank accounts. All currency conversions use the mid-market rates

Review of Remitly: A strong option to send payments for cash collection and home delivery. There are varying fees and delivery times, depending on your needs.

XE Money Transfer Review: Send money online to almost any country, or in-app, and deposit it in your recipient's account.

Both the pros and cons

Method 1: Send money through a bank account

  • It's easy if you already have PayPal and Venmo linked to the same bank account
  • You can link your bank account to PayPal within 3 days if you are not already a PayPal user.
  • Venmo allows you to link your bank account instantly using a debit card or manually in one business day.
  • Only one PayPal account can be linked to your bank account
  • Standard withdrawals from PayPal to your account take between 3 and 5 days
  • For a fee, instant withdrawals are possible

Method 2: Link PayPal Debit card to Venmo account

  • If you have a PayPal debit or credit card, this is a good option.
  • You should expect to wait for your PayPal Card to arrive within 7-10 business days before you can get started.
  • PayPal debit cards don't have monthly fees, but you will need to pay for certain services.
  • If your PayPal card is paid through a foreign currency bank account or credit card, you may be charged a fee

The cost of sending money from Paypal to Venmo

PayPal to Venmo Payment Method: Send money

  • To connect PayPal and Venmo accounts, use a linked bank account
  • You can link a PayPal debit card with your Venmo account

The cost of the payment method

  • You can withdraw money using a standard transfer from PayPal to your PayPal account.
  • PayPal Instant Withdrawal Fees - 1.75% of the withdrawal amount
  • Venmo payment is free of charge
  • You can use your PayPal balance to make payments or withdraw funds from your linked bank account.
  • Payments via a credit card linked with your PayPal account - 2.9% + fixed fees
  • Additional fees may apply if funds are added to your PayPal account with cash or a check.

Here are some things to be aware of when sending money via PayPal to Venmo

There are some potential costs that you may encounter when making a payment via PayPal to Venmo. You might also have to pay additional fees if your bank account is in another currency or if you have a PayPal balance that is not USD.

These costs may include admin fees upfront and markups that are added to the exchange rate. These fees can increase the cost of currency conversion and make it more costly to send money from PayPal to Venmo.

Let's suppose you have a PayPal balance in euros and wish to send Venmo payments to friends. Venmo payments are only accepted in USD. To transfer it, you will need to convert any euro balances you have to dollars. This can be done by converting the money in your PayPal account to USD before it is sent to your linked bank account or before it is used to send Venmo funds using your PayPal card. In this instance, you will need to pay PayPal's currency converter fee of 3% of the payment amount, and any other fees that PayPal may charge as part of the transfer.

Wise and Remitly are often able to offer faster international transfers, better exchange rates, and lower fees for transfers between currencies.

How to connect PayPal and Venmo

We've already seen that there is no way to link PayPal and Venmo to transfer funds between them. A linked common bank account is the best option if you need to transfer money frequently between PayPal and Venmo. These are the steps to set it up:

  • Register in PayPal to link your USD bank account with your PayPal account
  • Verify that the bank account you have linked to Venmo is the same one. If not, link to Venmo
  • Select the option to withdraw funds from your PayPal account to your bank account
  • Select the bank account that you wish to withdraw from and enter the withdrawal amount.
  • You can make Venmo payments as usual once the payment has arrived in your bank account.

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