When it comes to digital transactions, two of the most popular platforms are Venmo and PayPal. Both these platforms are recognized for their ease of use, security, and reliability. However, a frequently asked question is, “How can I transfer money from my Venmo to PayPal without a bank account?” This is a somewhat tricky process since neither Venmo nor PayPal offers a direct method for transferring funds between the two platforms. However, there are some workarounds that can make this possible.
How to transfer venmo to paypal without bank account?
Before we delve into the steps, it’s essential to note that while these methods can help you achieve the desired result, they do come with a degree of risk and may incur fees. Always make sure you understand the implications and any potential charges before proceeding.
Option 1: Using a Mutual Friend
One possible workaround is using a trusted friend or relative who has both a Venmo and PayPal account. Here’s how:
- Send the money from your Venmo account to your friend’s Venmo account. Open the Venmo app, input the recipient’s username, and enter the amount you wish to transfer. Include a note if needed, and click ‘Pay’ to finalize the transaction.
- Your friend transfers the money from their Venmo account to their bank account. Your friend must open their Venmo app, select ‘Manage Balance,’ then ‘Transfer to Bank.’ They must enter the amount they wish to transfer and choose the transfer speed.
- Your friend transfers the money from their bank account to their PayPal account. Your friend needs to open their PayPal app, select ‘More’, then ‘Add Money.’ They will select their bank and input the amount you initially sent. They will then click ‘Add.’
- Your friend sends the money from their PayPal account to your PayPal account. To do this, your friend will select ‘Send & Request,’ enter your email or mobile number associated with your PayPal account, and input the amount to be sent. They will select ‘Continue’ and then ‘Send Money Now.’
Option 2: Using a Trusted Third-Party App
Certain apps can be linked to both PayPal and Venmo, allowing you to ‘transfer’ money between them indirectly. These apps act as an intermediary, with you funding the app through Venmo and then withdrawing the funds to PayPal. One such app is Bitmo, a gift card service. Here’s how to do it:
- Link your Venmo account to Bitmo. You can do this by downloading and opening the Bitmo app, going to the payment methods, and adding Venmo as your preferred method.
- Purchase a Bitmo gift card using your Venmo account. You can buy any available gift card, but it is recommended to choose one that you will likely use in the future, such as an Amazon gift card.
- Sell your gift card. You can sell your gift card on a platform like Raise or CardCash. Be aware that you’ll likely sell the gift card for less than its full value and the platform will take a percentage of the sale.
- Transfer the money from the gift card platform to your PayPal account. Most platforms offer a direct deposit to PayPal. Once the sale is confirmed, transfer the funds directly into your PayPal account.
Both of these options require a degree of trust, whether in a person or a platform, and carry some risk. Additionally, they can be somewhat complex and may include fees or result in a loss from the transaction’s original amount.
As of the time of writing, a direct, risk-free way to transfer money between Venmo and PayPal without involving a bank account does not exist. The ideal solution would be to use a traditional bank account or an eligible debit card to facilitate the transfer. This highlights the importance of a bank account in managing and transferring digital funds, even in this age of advanced fintech solutions.
While we await a potential solution from Venmo and PayPal, these methods can help. Always proceed with caution, understanding that these methods involve certain risks and potential fees. Always read the terms of service and keep your account security a top priority when dealing with online financial transactions.