Many people are familiar with PayPal and Venmo if they use digital payment apps. The similar features of Venmo and Paypal may have led you to wonder if PayPal owns it.
It was recently announced that PayPal had acquired Venmo. As a result of the new leadership, discussions are underway to further bridge the applications. It is likely that you will be able to share more with PayPal or Venmo in the future if you are a loyal user.
It may be necessary for these dreams to wait (for now). Payments from Venmo to PayPal cannot be made directly.
How to Link Venmo to PayPal?
What is the process for linking Venmo to PayPal? Check to make sure your Paypal account is correct, update your apps, and confirm your bank account information. To link Venmo to Paypal, follow these steps. You can make your first transfer by following these simple steps!
Step 1: Connect Venmo to Your Bank
Your Venmo balance can be transferred to your bank account using the updated Venmo app. On Venmo, you can transfer funds for free most of the time. In contrast, you will be charged a small fee if you choose Venmo instant transfer to Paypal.
You might have to wait a few business days to avoid paying excess fees. Venmo transfers should arrive in your bank account within one to three business days.
Step 2: Check Your Paypal
Are you using the correct PayPal account and have you downloaded the updated app? In order to complete these steps, you must have a PayPal Cash account or a PayPal Cash Plus account.
You should be able to see your Paypal balance and any recent activity when you log in to your PayPal account and click on “my account.“
Step 3: Load Your Paypal Balance
You’ll see an area where you can add money or transfer money. Click “add money.”
When you click to transfer money, your funds will be transferred away from PayPal; the opposite is what you want. You need to “add” or grow your Paypal balance in order to transfer funds from Venmo to Paypal. In the next screen, you will be asked to confirm your bank details and select your transfer amount.
Enter the amount in dollars
Your bank details should be loaded into Paypal. If you wish to manually add money, you can do so. Your Venmo balance should be the same as the amount you transferred.
Using this Paypal line, you can enter $50.00 if you transferred $50.00 from your Venmo balance. Your Paypal balance will be credited with $50.00 through the bridge of your bank transfer.
Step 4: Transfer Complete
Click the “Add” button after manually entering your transfer amount. It may take a few business days for this transfer to be completed. Paypal will credit your account with the money you transferred from Venmo in a few days.
Can You Use PayPal Card on Venmo?
PayPal Cards can be used on Venmo. In this blog post, you can find instructions on how to add your PayPal card to Venmo.
How to Pay a Venmo Account with PayPal?
As a result, let’s move forward. Here’s how your PayPal Mastercard can be used to pay Venmo. Firstly, if you do not have a PayPal Mastercard, you will have to wait for it to arrive.
With your PayPal Mastercard in hand. It will need to be added to your Venmo account. The following steps will guide you through adding your card:
- Go to your Venmo account on your phone, and click your profile on the bottom right corner.
- Then tap the Settings icon on your upper left-hand screen.
- You can choose how you want to pay.
- Now you have the choice of adding a bank account or credit card. You can select the option of using a credit card.
- Your PayPal Mastercard information will then be available.
After that, you can use your PayPal Mastercard to pay for another Venmo account. Learn about: How to Get a New Venmo Card?
Frequently Asked Question
Are Venmo and PayPal the Same?
Even though PayPal owns Venmo, they are not the same thing. Using Venmo, you can pay anywhere you see a PayPal button when using your preferred payment method.
Their goal was to simplify and secure the process of sending and receiving money. Venmo was designed for consumers as a social payment app. When paying a friend for lunch, you can send the exact amount along with a thank you note.
Do You Need PayPal to Use Venmo?
It works the other way around as well! PayPal is not required to use Venmo. Venmo is independent of PayPal, despite its ownership by PayPal. Venmo allows you to create an account without having a PayPal account.
Can You Log Into Venmo with PayPal?
PayPal does not allow you to log into Venmo. A Venmo account can only be accessed using a user name, email address, or phone number. View the Venmo sign-in FAQ if you are having trouble logging in.
Conclusion
The process of using Venmo with PayPal is not as straightforward as it seems. The parent company of Venmo, PayPal, does not allow users to send money or make payments directly. Venmo and PayPal can be used to send and receive money if your bank account is linked between the two apps.