While PayPal is more focused on online transactions, Cash App simplifies banking transactions, sending money to others and withdrawing money via debit card. While PayPal offers similar features, Cash App is a lot more popular for such transactions. So, perhaps you’ve wondered how to transfer funds between the two apps.
Let’s break down what you need to do if you have money in your PayPal account that you’d like to transfer to your Cash App.
How to Send Money from PayPal to Cash App in 3 Steps
Unfortunately, there is no way to send money directly from PayPal to Cash App. However, there is a way to use your PayPal balance for Cash App. This requires only a few additional steps, which you should do as follows!
Step 1: Get the Funds Ready in PayPal
PayPal allows you to receive payments from friends and family, as well as for goods and services. If you don’t have money in your PayPal account, you can still deposit money into your PayPal account to spend online or send to someone.
Since you’re reading this article, you probably already have some money in your PayPal account, so you just need to make sure that your money isn’t sitting on hold and that you can withdraw it. This means that your funds should be available. If you need to verify your PayPal account, this must be done before you can withdraw your money.
Step 2: Transfer the Funds to Your Bank Account
Unfortunately, you can’t send your money directly from PayPal to Cash App. Instead, you need to link a bank account to your PayPal account. To do that, go to the Wallet tab and click the Link a bank button.
You can either enter a bank account or a credit card. The money you transfer to a card will arrive in your bank account. To successfully add a bank account or a credit card, you need to enter the details and then perform the necessary verification.
Once you get past this step, you can transfer money to your bank account by clicking the Transfer Money button under the PayPal balance in the main dashboard. Then select the bank account or credit card you want to transfer the money.
Step 3: Add Money to Cash App from Your Bank Account
Transferring your money from PayPal to your bank account can be instant, but it can also take a few days, so keep that in mind. However, if you have money in your bank account, you’re just one step away from transferring it to your Cash App.
To add money from your bank account to the Cash App, log into Cash App, open the Banking tab, and click the Add Cash button. There, enter the amount of money you want to add and select the source you want to add the money from. This is the bank account you used to receive money from PayPal.
If you have a bank account linked to Cash App, the transaction will be completed. However, if you haven’t linked the bank account yet, you’ll be prompted to link the account before the transactions are completed. It can take anywhere from one day to three or more days before you see the money in your Cash App.
Benefits of Keeping Money in Cash App Versus PayPal
While PayPal is one of the safest ways to store and pay online, Cash App is much more versatile. CashApp is the preferred way to send and receive money over PayPal because it provides a cash card that you can use to spend money at local stores or withdraw money at an ATM.
Other advantages include buying and selling stocks or bitcoin, which you can’t always do with PayPal. While there is no direct way to transfer money from PayPal to CashApp, it’s worth waiting for your money, even if it only takes a few days, as you can do much more with it.
Transferring money from PayPal to Cash App can take a few days and is a bit cumbersome, as you need a bank account to connect to both PayPal and Cash App. However, Cash App is a simple and versatile way to transact your money and is therefore often more popular than PayPal.
For a quick visual explanation of the process we’ve just outlined, check out the video below.
The image featured at the top of this post is ©viewimage/Shutterstock.com.