Venmo and PayPal are two popular payment apps that allow you to send and receive money quickly and easily. However, if you don’t have a bank account, you may be wondering how to transfer money from Venmo to PayPal.
In this article, I’ll discuss two methods for transferring Venmo to PayPal without a bank account: using a prepaid card and using a third-party service. Whether you’re looking for a quick and easy way to transfer money or you’re trying to avoid fees, I’ve got you covered. So read on to learn more about how to transfer Venmo to PayPal without bank account.
How to Transfer Venmo to PayPal Without Bank Account
Method 1: Using a Prepaid Card
Step 1: Purchase a prepaid card
You can purchase a prepaid card from major retailers like Walmart, CVS, and Walgreens. When choosing a prepaid card, ensure it is accepted by both Venmo and PayPal.
Step 2: Add the prepaid card to your Venmo account
Adding a prepaid card to Venmo is a simple process that can be done right from the Venmo app. First, open up the Venmo app on your phone and tap on the profile icon in the top-right corner. This will bring you to the “Settings” section of the app. Under “Preferences,” tap on “Payment Methods.”
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Step 3: Transfer money from Venmo to the prepaid card
Transferring money from Venmo to a prepaid card is a straightforward process that can be completed in just a few steps. First, open up the Venmo app on your smartphone and navigate to the “Home” tab at the bottom of the screen. Once on the Home screen, tap the “+” icon in the top right corner. This will open up a menu where you can select “Transfer to a card.”
After selecting this option, you’ll be prompted to enter the amount of money you wish to transfer. Type in the amount, noting that there may be a weekly or monthly transfer limit depending on your Venmo account status. The next step is choosing your prepaid card from the list of linked payment methods. Tap on the prepaid card you wish to transfer funds to.
Step 4: Add the prepaid card to your PayPal account
To do this, go to the PayPal website or app and log in to your account. Click on the “Wallet” tab and then “Add funds.” Select “Add a debit or credit card” and enter the information on your prepaid card.
Step 5: Transfer the money from the prepaid card to your PayPal balance
Transferring money from your PayPal account to your prepaid card is a convenient way to add funds and use them for purchases or ATM withdrawals. First, log into your PayPal account either on the website or through the mobile app. Once logged in, select the “Wallet” tab at the screen’s top. This will open your PayPal wallet. Next, click on the “Transfer Funds” option.
You will then need to choose your prepaid card as the transfer recipient. Type in the amount you want to move from PayPal to your card. Make sure you have sufficient funds in your PayPal balance. Double-check that your prepaid card is selected as the destination, then submit the transfer.
Method 2: Using a Third-Party Service
Step 1: Choose a third-party service
Several third-party services, such as Cash App, Skrill, and TransferWise, offer this service. When choosing a service, compare the fees and terms of service.
Step 2: Create an account with the third-party service
To register for the website, you will need to provide some basic personal information. This includes your full legal name, email address you wish to use for the site, and date of birth. Providing your name is important so the site knows how to address you and can create your user profile. Your email will allow the site to send notifications, updates, and other important information.
Requesting your date of birth allows the site to verify your age and ensure you meet any age requirements for use. While providing personal information often makes people wary of privacy concerns, legitimate sites will have service terms explaining how your information is used and secured. Registering with your details allows you to access the site’s offerings in a personalized manner fully.
Step 3: Link your Venmo account to the third-party service
Providing a third-party service with your Venmo login credentials gives them full access to your account. This means they would be able to log in as you, view your transaction history, see your connected bank accounts and balances, and even send or request money on your behalf. While some services may request this level of access with good intentions, it also opens up the opportunity for fraud or misuse of your personal financial information.
Read Also: Can You Send $5 000 Through Cash App
Step 4: Transfer money from Venmo to the third-party service
Transferring money from your Venmo account to another account or person requires you to log into your Venmo app or account online. After logging in, navigate to the money transfer or payment screen. Here, you will be prompted to enter the amount of money you wish to transfer out of your Venmo balance.
Double-check that the amount is correct before proceeding. You will then need to choose the account you want to transfer the funds to. This may require you to select or add the bank account details, account and routing number, or other recipient details like a PayPal or Venmo username. Ensure all the account details you enter are correct to avoid errors or misdirected transfers. Before finalizing the transfer, Venmo may require you to enter your account password or confirmation code as an additional security measure. Take the time to carefully review all the transfer details and amounts before completing the process.
Step 5: Transfer the money from the third-party service to your PayPal account
Giving your PayPal login information to a third-party service gives them complete access to your PayPal account. This means they could log in as you, view your full transaction history, see any linked bank accounts or credit cards, withdraw or deposit funds into your account, and make payments using your money.
Frequently Asked Questions
Is There a Fee to Transfer Venmo Balance to PayPal?
No, Venmo does not charge a fee to transfer your balance to PayPal. Venmo and PayPal are both popular peer-to-peer payment services owned by PayPal Holdings. Transferring money from a Venmo balance to a linked PayPal account is easy and free.
When the Venmo and PayPal accounts are connected, users can instantly transfer funds from Venmo to PayPal with no fees. However, PayPal may charge a fee of 2.9% plus $0.30 per transaction received when you withdraw or spend money from your PayPal account. The transfer time is typically within minutes.
How long does it take to transfer Venmo balance to PayPal?
Transferring money from your Venmo balance to your PayPal account typically takes 1-2 business days. The funds will leave your Venmo balance immediately after initiating the transfer through the Venmo app or website. However, it can take up to one business day for the money to appear in your PayPal account. If you transfer on a Friday, for example, you may see the money in your PayPal on Monday or Tuesday.
Conclusion
The two main methods for transferring Venmo to PayPal without a bank account are using a prepaid card or a third-party service. The best method for you will depend on your individual needs and circumstances. If you want a quick and easy way to transfer money, a prepaid card may be the best option. However, if you want to avoid fees, a third-party service may be a better choice.
No matter which method you choose, read the terms and conditions carefully before transferring any money. This will help you understand the fees and other charges that may apply.
