However, there is a way that customers are able to transfer money from Zelle to PayPal and I am going to show you in this article how you can go about that.
Zelle is a great way to send money to friends and family, even if they bank somewhere different than you do.1 That means it’s super easy to pitch in or get paid back for all sorts of things like the neighborhood block party or getting paid back for covering the cost of a vacation rental for a group of friends. Zelle is already in lots of banking apps, so look for it in yours today.
What is PayPal?
PayPal 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.
Established in 1998 as Confinity, PayPal went public through an IPO in 2002. It became a wholly owned subsidiary of eBay later that year, valued at $1.5 billion. In 2015, eBay spun off PayPal to eBay's shareholders and PayPal became an independent company again. The company was ranked 134th on the 2021 Fortune 500 of the largest United States corporations by revenue.
How can we possibly define Zelle?
Zelle is a United States–based digital payments network owned by Early Warning Services, LLC, a private financial services company owned by the banks Bank of America, Truist, Capital One, JPMorgan Chase, PNC Bank, U.S. Bank and Wells Fargo. The Zelle service enables individuals to electronically transfer money from their bank account to another registered user's bank account (within the United States) using a mobile device or the website of a participating banking institution.
Can I Send Money from Zelle to PayPal ?
To all the Zelle users, you have a major advantage to be able to send money to any bank in the U.S and you can also make use of this feature so as to send funds indirectly from Zelle to PayPal. So in this article I am going to show you how you can make use of the free and fast service of Zelle to send funds to your linked bank account and then to your PayPal account which should be the final destination of the money.
So you can keenly follow the steps below in order to to know how you can transfer money from Zelle to PayPal by making use of the bank account as the mediator of this transfer.
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Step 1 - How to Connect Zelle Account to your Bank Account
Most of the banks in the United State of America have started accepting Zelle online banking services and therefore you can link your Zelle app to your bank account without any problem. In case you already have an existing bank account and you are opening a new bank account, then it is much more better for you to confirm from the bank's staff if the bank supports Zelle online banking or not.
As long as you have a bank account that supports Zelle money transfer services, you will be able to send from Zelle to PayPal. If the bank does not support Zelle money transfer, then you will have to try a different bank account or you forget about sending funds to PayPal.
- Sign into your online banking platform and select "Transfer & Pay"
- After that, you will have to choose the option " Send Money with Zelle". You will also receive a welcome note
- You have to go through the terms and conditions before accepting
- Finally, you will have to enter your email, phone number and bank account number
Once this process successfully done, you will receive a confirmation email or a verification code via text, so you will have to make sure that you confirm your account before you proceed.
Step 2- How to Connect your PayPal account to the same Bank
So, once you must have connected your Zelle account to PayPal, the next step is for you to do the same with your PayPal account by also linking it to the same bank account with which you had previously linked your Zelle account. This is also necessary because PayPal on its own does not accept transfer directly from Zelle.
In order to add a bank account to PayPal account you, you first of all have to visit its My money section and then click on the Account menu and tap on update. From here, another option of bank account will show and you will be prompted to enter the details of the account such as the account number and routing number and then confirm the connection.
Once you have already completed this processes accurately, you will be able to transfer money one app to the other using your bank account without any ease.
Step 3 - Make use of the Bank as a Mediator to Exchange funds between Zelle and PayPal
Now that the 2 apps are already linked to the same bank account, you are now able to transfer the funds from between the 2 apps with ease by making use of the bank as the mediator.
As it has been elaborated above, you can first make use of Zelle to send your funds to your bank account and then transfer it to PayPal account from your bank account. Hopefully for their customers, the funds will be made available to them within a short period of time.
Anytime you have to pay for a service or make a purchase via PayPal, there are numerous ways of doing so.
Final Thoughts on how to Send Money from Zelle to PayPal
Well now that you have found this article, hope you have seen that Sending money from Zelle to PayPal is not a huge task as some people often think but you must own a bank account that allows Zelle online services and is also linked to your account. You can also make use of this same method in order to send money from PayPal to Zelle as well.
Frequently Asked Questions about Sending Money From Zelle
1. 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.
2. 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.
3. 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.
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