Can You Move Money From Venmo to PayPal?
Transferring money from Venmo to PayPal? Discover why direct moves aren't possible and the effective method to bridge these platforms.
It is not possible to directly transfer money from a Venmo account to a PayPal account. While both platforms are popular digital payment services and Venmo is owned by PayPal, Inc., they operate as separate entities with distinct internal systems. Users can, however, move funds between their Venmo and PayPal accounts through an indirect method involving an intermediary bank account.
Understanding Platform Limitations
Direct transfers between Venmo and PayPal are not feasible due to their separate operational infrastructures. Despite being under the same corporate umbrella, each platform functions as an independent peer-to-peer payment service. Each service requires funds to be linked to external financial accounts, such as bank accounts or debit cards, rather than facilitating direct interoperability. Both platforms connect with traditional banking systems, processing transactions through established financial networks like the Automated Clearing House (ACH) for standard transfers.
Executing an Indirect Transfer
Transferring money from Venmo to PayPal requires an intermediary bank account linked to both services. The initial step involves moving funds from your Venmo balance to your linked bank account. Within the Venmo application, navigate to the “Me” tab, then select the “Transfer Balance” or “Transfer to Bank” option. Users can choose between a standard transfer, which is free and takes 1-3 business days, or an instant transfer, which usually arrives within 30 minutes for a fee. After selecting the transfer method and confirming the amount, the funds will be sent to the designated bank account.
Once the funds have arrived in the bank account, the next step is to add them to your PayPal balance. Log into your PayPal account and access the “Wallet” section. Select the option to “Transfer Money” and then choose “Add money from your bank or debit card.” Enter the amount you wish to transfer and select the bank account that received the funds from Venmo. PayPal also offers options for standard transfers, which can take 3-5 business days, or instant transfers using a debit card, which can be completed in seconds.
Key Transfer Considerations
When moving funds between Venmo and PayPal via a bank account, understanding transfer speeds and associated fees is important. Venmo offers a standard transfer option that is free and typically processes within 1-3 business days. For those needing quicker access, Venmo’s instant transfer service carries a fee of 1.75% of the transfer amount, with a minimum charge of $0.25 and a maximum of $25. This instant option usually delivers funds to an eligible bank account or debit card within 30 minutes.
PayPal’s standard transfers from a bank account to the PayPal balance can take up to 5 business days, while adding money with a debit card can be instant. Both platforms implement transfer limits, which can vary based on account verification status and transaction history.
Venmo allows verified users to transfer up to $19,999.99 per week to a bank account, with a $5,000 limit per individual transfer. Unverified Venmo accounts have much lower limits, typically around $999.99 per week. PayPal also has limits for adding funds, with verified users often able to add up to $1,500 per week from a bank, and specific daily/weekly limits for debit card transfers.
Ensuring the same bank account or debit card is linked and verified on both Venmo and PayPal streamlines the process. Maintaining strong account security, including using unique passwords and enabling two-factor authentication, helps protect funds during these transfers.