If you use Cash App to send and receive money regularly, you surely also know about Paypal, and you may even have an account with them, right?
Well, one of the most common questions among users of these platforms is whether it is possible to make transfers between them.
Unfortunately, it is currently impossible to send money directly from Paypal to Cash App. However, there are two alternatives that may still work for you. Keep reading to find out!
How to transfer funds between Paypal and Cash App?
We want to emphasise that it is not possible to transfer directly from Paypal to Cash App. However, you can do it through a bank account or a Cash App Cash Card; these will work as a bridge between both applications.
You have two options depending on your case:
If you have a bank account associated with both apps
- Log in to your Paypal account; we recommend doing this part from the web version on a laptop or desktop computer.
- Enter your email and password.
- You will now be in the “Summary” tab to see your balance sheet. Just below your “Paypal balance”, click on the “Transfer Money” button.
- Select the “Transfer to your bank” option, choose the bank account you use and click “Next”. You can make a Standard transfer that will take one business day to become effective, or you can select the Instant option that will be ready in minutes, but you will have to pay a fee of $5.00.
- Enter the amount you want to transfer and click “Next” again.
- A summary of the transaction you are about to make will appear; if you agree, click “Transfer ___ Now”.
- Once the money is in your bank account, you just have to go to your Cash App and select “Add Cash”.
- Now transfer the same amount from your bank, and that’s it; you’ll have the money available.
If you have a Cash App Cash Card
A Cash Card is a Visa debit card that you can request within the Cash App to make payments in stores or establishments. It is convenient since it is connected to your account, so you can use the same money you can see on the application.
Now, how does this work with Paypal? Simple! You can add it to Paypal as another of your cards and thus avoid the previous step of transferring funds to your bank.
- To do this, open the Paypal app on your phone and sign in.
- In the “Home” section, click on the gear icon in the upper right corner, and you will see the “Settings” options.
- Click on “Banks and Cards”, and then you can see all the accounts or cards you have associated with your Paypal.
- Click the “+” icon in the upper right corner to add a new item.
- You will see two options: add a Bank Account or a Debit/Credit card; select this last one.
- In some cases, as a security measure, Paypal will request your Touch ID or password to continue with the process. Once you have done so, select “Link a card manually”, and enter the Cash Card number; there are 16 digits. Then click “Next”.
- Now, you must enter the expiration date, the security code on the back, and the billing address you used to activate the Cash Card. To finish, click on “Link Card”.
- You will see the “Banks and Cards” section again, and you will be able to verify that it is correctly linked.
- Now, to transfer money from Paypal, you will only have to follow the steps of the previous option, but instead of selecting a bank account, you will choose your Cash App Cash Card.
Which one is better?
Paypal is another virtual wallet that allows you to send and receive money over the internet. It is one of the most popular and used worldwide, so it is convenient to open an account with them as well.
But then, if you have both, which one is better? It will depend on the type of payment you need to make. Some important differences between them are:
- Fees: Paypal charges transaction fees between accounts, while Cash App does not.
- Split Deposits and Crypto Assets: Paypal does not have these options; Cash App does.
- Transaction Rate: Paypal has a rate of 1-4 business days; Cash App 1-2 business days.
- Maximum Limit: Paypal $9,000-$10,000; Cash App $5,000-$7,000.
Our recommendation? Even if most of your money is in a bank account, you can have a certain amount available on both apps. This way, you can use it in emergency cases if your bank is not available.