Transferring Money From Venmo to Paypal
In this article I'll be discussing how you can transfer money from Venmo to Paypal, and vice versa.
Venmo is a very popular peer to peer payment system. It's very convenient for times where, for example, you might be out with friends and need to split a restaurant bill. One person can pay the bill, and then you send your portion of the bill to the person who paid it through Venmo. They can then instantly transfer the money you sent them into their bank account. Venmo is actually owned by Paypal, which is another peer to peer payment system, in fact, it may the most popular and the oldest one. Now since they are owned by the same company, it would be reasonable to think that you could easily transfer money between the two system, however you actually cannot, at least not directly anyway. There is kind of a round about way to get the money transferred between systems, and that is what I will be showing you in the steps below.
1) The first step is to open the Venmo app, and click on the three lines on the top left corner of the screen.
Venmo is a very popular peer to peer payment system. It's very convenient for times where, for example, you might be out with friends and need to split a restaurant bill. One person can pay the bill, and then you send your portion of the bill to the person who paid it through Venmo. They can then instantly transfer the money you sent them into their bank account. Venmo is actually owned by Paypal, which is another peer to peer payment system, in fact, it may the most popular and the oldest one. Now since they are owned by the same company, it would be reasonable to think that you could easily transfer money between the two system, however you actually cannot, at least not directly anyway. There is kind of a round about way to get the money transferred between systems, and that is what I will be showing you in the steps below.
1) The first step is to open the Venmo app, and click on the three lines on the top left corner of the screen.
2) Next, click on "Manage Balance" on the right side of that drop down menu.
3) The next step is to actually transfer the balance, or whatever amount you want moved to Paypal, over to your bank account. Venmo gives you the option of waiting 1-3 days for the transfer (free), or an instant transfer which will charge 1% of the amount being transferred.
4) Once the funds are in your bank account, you'll now need to open your Paypal app, and click on your Paypal Balance.
5) Next, click Add Money on the bottom of the screen, and then Add From Your Bank.
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6) The final step is to enter the amount you would like to add, and then click Add to Your Balance.
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So that is how you can transfer money from Venmo to Paypal. If you wanted to move money from Paypal to Venmo, you would follow the same basic process, except you would start off transferring money from Paypal to your bank, rather than Venmo. Overall, the process does take a little bit of time, but still pretty simple.
Keep posted up for more articles and be sure to watch the video if you want to have a clearer vision of the process: https://www.youtube.com/watch?v=hCz6tZzc_40&feature=youtu.be
Keep posted up for more articles and be sure to watch the video if you want to have a clearer vision of the process: https://www.youtube.com/watch?v=hCz6tZzc_40&feature=youtu.be