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Written by Drew Cochran on September 19, 2023
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How To Transfer From PayPal To Venmo 2023

Mobile banking has come far in today's world. It's so easy to send money to friends, family, local businesses, and more - instantly.

However, transferring money between various money apps can be confusing.

Venmo and PayPal are owned by PayPal Holdings, Inc.

You'd think because this was the case, you might be able to directly transfer money from PayPal to Venmo - but at time of writing, this isn't exactly the case.

But don't worry! Today we're going to help you navigate moving your money from PayPal to Venmo, step by step.

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How To Transfer From PayPal To Venmo

Thankfully, the most efficient way to transfer your money between these services isn't too complicated, and can be done instantaneously, if needed.

All you need is a bank account;

  1. Link Your Bank Account to PayPal
  2. Transfer Money From PayPal To Bank Account
  3. Link Your Bank to Venmo
  4. Transfer Money From Bank Account To Venmo

Now we'll go over each of these steps in detail!

1. Link Your Bank Account to PayPal

First, we'll link your preferred checking account to your PayPal, if you haven't done so already. If you have, head on down to Step 2!

  1. Log in to your PayPal account.
  2. Click on "Wallet" at the top of the page.
  3. Select "Link a bank or card."
  4. Follow the on-screen instructions to link your bank account.
  5. Verify your bank account or card if prompted.

2. Transfer Funds From PayPal To Bank Account

Once your bank account is linked, you can transfer your money from PayPal to your linked bank.

  1. Go to "Wallet" in your PayPal account.
  2. Click on "Transfer Money."
  3. Choose the amount you want to transfer and select your linked bank account.
  4. Review your transfer details are correct, and confirm the transfer.

You can choose the instant transfer for a small fee, or choose the free standard transfer that takes 1-3 business days to complete.

3. Link Your Bank Account To Venmo

If you haven't already, download the Venmo app and create an account.

  1. In the Venmo app, select "Me" on the bottom-right corner.
  2. Press the gear icon for "Settings" in the upper-left corner.
  3. Tap "Payment Methods."
  4. Select "Add a Bank or Card" and follow the instructions to link your bank account.

4. Transfer Funds From Your Bank Account To Venmo

  1. In the Venmo app, click on the "Me" tab.
  2. Next to your displayed Venmo balance, select "Manage."
  3. Choose "Add Money."
  4. Enter the amount you want to transfer and select the linked bank account.
  5. Review your transfer details are correct, and confirm the transfer.

Again, depending on the transfer speed chosen, your money could take up to 3 business days to process.

Something To Remember!

If you're new to Venmo, you'll notice there's a section of the app where people in your social networks have their recent transactions listed. By default, your transactions also show up in this feed.

Because this is the case, it's important to not share personal or sensitive information in your Venmo payment descriptions, especially details like addresses or account numbers could compromise your security.

Always review your payment settings and transaction privacy options to control who can see your payment activity.

Don't forget to grab your free stock worth up to $200 from Robinhood today!

Article written by Drew Cochran

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Investing Simple readers can claim a free stock from Robinhood worth up to $200 when they open a brokerage account and deposit any amount.

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