PayPal is an online money transfer service with headquarters located in San Jose, California in the United States of America. PayPal allows you to send and receive money with convenience. More to that, with PayPal, you can buy goods and services online from specific merchants that accept them.
Individuals that own both PayPal and Zelle accounts often desire to know whether it is possible to send money from PayPal to Zelle? Transferring money from one financial institution to another makes it possible for money to circulate and this is one of the key aspect of money in a society.
Zelle on its own is also an online payment platform that lets you transfer money from one bank to the other. This helps you save the time that it takes if you are to transfer money in the traditional way. Most often, bank to bank transfers take close to 3 days to complete. The time taken is due to the several checks that banks undertakes.
Through banks and mobile wallets, there are many different types of unlawful money transfers that might take place. Even PayPal can serve as a conduit for illegal acts including human trafficking, funding for terrorism, and money laundering.
You must therefore submit identification documents when creating a bank account or a mobile wallet account. So, unless someone decides to take another person's identity, nobody will ever create a phony account.
Want to know how to transfer money from PayPal to Zelle? then stay glued to this article as I will show you how to do so in 2 simple steps.
Table of Contents
What is PayPal?
According to Wikipedia, PayPal Holdings, Inc. is an American multinational financial technology company operating an online payments system in the majority of countries that support online money transfers, and serves as an electronic alternative to traditional paper methods such as checks and money orders. The company operates as a payment processor for online vendors, auction sites and many other commercial users, for which it charges a fee.
PayPal is a safe and secure online payment system that lets you send and receive money both home and abroad. You are able to use PayPal to make purchases in participating stores once you have linked your bank account, credit or debit card to your PayPal account. In simple terms, you can say that PayPal acts as a middleman for your bank and merchants therefore protecting your payment details.
How Does PayPal Work?
Between you and a bank, PayPal acts as a middleman. A user can choose which bank account to debit when making an online payment after adding a bank account or credit/debit card to the PayPal system. All transactions are handled by PayPal rather than your bank.
PayPal allows you to send and receive money. To send money via PayPal, you can follow the procedure below.
- Log into your PayPal account.
- Tap Send & Request at the top of the screen.
- Choose from the three options.
- Enter the phone number or email address of the recipient.
- Enter the amount of money to send.
- Click Continue.
- Review and confirm the details on the screen.
- Click Send Money Now.
The recipient should get the money within minutes since PayPal to PayPal transfers are instant. Also, you can move money from your PayPal account to a bank account.
When people send money to your PayPal account, you can access cash easily through your bank account. The following procedure shows how you can withdraw money from PayPal to a bank account.
When using your computer,
- Navigate to your Wallet.
- Select Transfer Funds.
- Select Transfer to your bank account.
- Complete the process by following the prompts.
- Complete Guide On How to Set Up A PayPal Account
- Complete Guide On How to Delete PayPal Account
- How to Cancel a PayPal Payment [Complete Process]
- How to Withdraw Money From PayPal [Complete Guide]
- How To Get Money Back From PayPal If Scammed [3 Easy Ways]
- How To Transfer Money From PayPal To Cash App [Easiest Methods]
- How To Send Money From Cash App to PayPal [Complete Guide]
- How To Get Money Off PayPal Without Card
- How To Transfer Money From Credit Card To Prepaid Card Online
- Complete Guide On How To Add Money To PayPal
How to Open a PayPal Account
Of course if you want to benefits from PayPal's services, you must first of all have a PayPal account. The good news is that you are able to open a PayPal account online using your phone or laptop with a valid email address to get started.
You can follow the steps below in order to setup your PayPal account:
- Visit PayPal.com
- Hit on Sign up for a PayPal account.
- Choose the type of PayPal account you would like to create. You can choose between a personal account and a business account.
- Next, click Get Started.
- Enter your phone number and click Continue.
- Enter your name, email address, and password.
- Click Continue
- Fill out the second form by hitting on your nationality and typing in your address.
- Enter any other required info, and PayPal will create your account.
From here now, you can add your debit, credit or bank account to your PayPal account so that it serves as a funding source for your PayPal.
You can learn more on how to setup and verify your PayPal account easily.
How to Open a Zelle Account
In order to open a Zelle account using your mobile app, all you have to do is to type in your basic contact info, including your Email address and U.S mobile number since Zelle is mostly operational for US citizens.
Also you will be needing a Visa or Mastercard debit card with U.S based account. Zelle do not accepts debit cards associated with international deposit accounts nor do they accept credit cards.
You do not need to use Zelle separately if your bank or credit union already allows it. To set up your Zelle account, simply go into your online account or mobile banking and follow a few simple steps.
How to Use Zelle
Once you have already created your Zelle account, you need to understand how to to make use of it. The basic use of Zelle is to send and receive money.
You can follow the steps below in order to send money with Zelle:
- Add the recipient’s email address or U.S. phone number.
- Enter the amount you’d like to send or request.
- Review and add a memo.
- Hit “confirm.”
Most at times when you use Zelle to send money, you will see the funds reflect in the recipients account in a few minutes.
Note that, you should only use Zelle to send money to the people you trust. You can also receive money from other Zelle users when you share your email or phone number with them.
Can I Send Money From PayPal to Zelle?
It is necessary you have in mind that Zelle and PayPal do not integrate and for this reason, you cannot directly send money from PayPal to Zelle. However, you can link both platforms to one bank account and then use the bank account as a middle man so as to make a successful transfer of money from Zelle to PayPal.
How to Transfer Money From PayPal to Zelle - In 2 Steps
You'll need accounts for both financial services and a linked bank account in order to move money between them. You won't be allowed to transfer money from Zelle to PayPal and PayPal to Zelle if you don't fulfill these conditions.
However, Zelle is not utilized to maintain a balance of funds. To accomplish the transfers, a middleman is basically used as a money transfer service. It isn't a checking or bank account.
Below are the steps involved in transferring money from PayPal to Zelle:
1. Transfer Money From PayPal to Your Bank Account
The first thing that you will have to do is to add your bank account to PayPal in case you have not yet linked your bank account to PayPal. It is quite easy and straight forward to connect a bank account or debit card to PayPal.
Below are the steps to follow:
- Go to ‘Money’
- Click ‘Link a bank’ (In the app, tap Menu then ‘Banks and Cards’)
- Select your bank from the list or search for it
- Enter your online banking details to instantly link your bank account with your PayPal account
- Alternatively, click “Link your bank another way” at the bottom of the page.
- Enter your bank details and click “Agree and Link”.
By connecting and verifying the bank account manually, you’re in some ways accepting to let PayPal send two minute deposits of less than $1.00 to your bank account. They are going to be used for verification.
Once you have followed the steps successfully, it can take close to 3 business days for the deposits to reach your bank account. When you notice them, got to your wallet and enter the exact amounts to confirm you are the real owner of the bank account.
As soon you have linked your bank account to PayPal, you can follow the steps below to transfer money:
- Log into your PayPal account
- Click “Transfer Money”
- Click “Transfer to your bank”
- Enter the amount you want to transfer
- Doublecheck the info
- Click “Transfer Now”
2. Connect Your Bank Account to Zelle
Nearly all of the major US banks were involved in the creation of Zelle, which is currently backed by the biggest names in the banking industry. Additionally, it indicates that practically all banking apps include integration with Zelle.
The quickest approach to link Zelle to your bank account is to navigate to the Zelle section of your banking app.
Already included in over a thousand financial apps is Zelle. If you haven't previously signed up, just do so by following the instructions on your banking app.
Another way of connecting the two is from the Zelle app. Simply sign up for Zelle and link the two by entering your online banking info (username and password) into Zelle. It couldn’t be easier.
Now that everything is connected, you can use funds in your PayPal balance to transfer them over to your bank account. Lastly, you can use Zelle to transfer money to wherever you need to for free.
Can You Cancel A PayPal Transfer?
PayPal is an online payment service that allows you to send money from your PayPal balance to someone's else PayPal account for a small fee.
With PayPal, you can make payments for goods and services quickly and easily due to the fact that PayPal is integrated with many e-commerce websites therefore allowing you to make payments.
Generally, it is not possible to cancel PayPal payments sent from your PayPal account and in most cases, the payments made from your PayPal account are completed immediately and so cannot be canceled.
You can learn more from this article on how to cancel PayPal Payment.
What Are Zelle and PayPal Transfer Limits?
It is important to understand the limits of the two types of accounts before initiating any transfer. You might be having a question like, how much money can you send through Zelle?
This is a legitimate question, particularly if you wish to begin using Zelle services. The most you may send each week while using the Zelle app on your own is $500. You can verify with your bank to see the transfer restrictions while utilizing the service with banks because the sending limits vary between banks.
Your transfer restrictions with PayPal are determined by the state of your account as well as your place of residence. You can send up to $60,000 with a confirmed PayPal account, but you might only be able to send $10,000.
Final Thoughts On How to Send Money From PayPal to Zelle
PayPal is an online money transfer service with headquarters located in San Jose, California in the United States of America. PayPal allows you to send and receive money with convenience. More to that, with PayPal, you can buy goods and services online from specific merchants that accept them.
Individuals that own both PayPal and Zelle accounts often desire to know whether it is possible to send money from PayPal to Zelle? Above in this guide, we have outlined all the steps involved in transferring money from PayPal to Zelle.
Frequently Asked Questions
Can I transfer money from a prepaid card to my PayPal account?
Prepaid cards cannot be used to send funds to PayPal. The prepaid card can only be used to make payments when it is linked to your PayPal account. Any prepaid card with the logos of Visa, American Express, MasterCard, or Discover is accepted by PayPal. Prepaid cards cannot, however, be used for recurrent payments.
How do I link my PayPal account to my prepaid account?
You will be prompted to indicate if you have a PayPal Account throughout the PayPal Prepaid Card activation process. If you do have a PayPal Account, you will be required to provide your login credentials. The PayPal Prepaid Card will then be instantly linked to your PayPal Account using that log-in credentials.
Does Zelle take fee for Money transfer?
No. Zelle does not often charge any fee for sending or receiving money. There are no additional fees when unless you want to send over the app instantly.
Is PayPal safer than Zelle ?
It is of no doubt that PayPal is a safer and offers complete protection of the transactions made online via it. Even though you can not make use of this for sharing your funds with your family members or friends just like Zelle, it is till quite helpful when you are making transactions with merchants. More to that, PayPal is protected by username and password that is obligatory for login.
Can you receive money on Zelle with out a Bank account?
Yes there is a way through which you can send and receive money on Zelle even without an account but you must download the app and then create an account. Then you can transfer money between any account.
How much money can I send with PayPal?
PayPal accounts that aren’t verified can transmit up to $500 a month. If you have verified your PayPal account, there’s no limit on the total amount of money you can transfer from your balance. You may be limited to $10,000 in a single transaction though.
Can you send money from PayPal to Venmo?
PayPal isn’t supported by many digital banking apps. For that reason, you can’t send money from PayPal to Venmo or from Venmo to PayPal.