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.
In other words, PayPal is the most popular internet-oriented money transfer platform serving over 200 million subscribers across the globe. Unlike PayPal, Cash App only operates in the US and UK. When sending funds from the US to the UK and vice versa, Cash App must convert the funds into the respective local currency. Therefore, you have to know current conversion rates before transferring any money to ensure that there won’t be a short.
If you wish to transfer funds from PayPal to Cash App, you should be wise enough to understand that it is impossible to transfer money directly from PayPal to Cash App. However, you can be creative and use your bank as a medium to avail funds in your PayPal account to your Cash App. You, therefore, have to add your bank account to your PayPal account before making any transfer.
Check Out: How To Add Money From Debit Card To PayPal
Check Also: How To Add Cash To Cash App Without Debit Card
How do you transfer money from PayPal to a Bank account?
The first step is adding the bank account that you want to transfer funds to your PayPal account. To add a bank account to PayPal, you can follow the steps below.
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- Navigate to Wallet
- Select Add a card or bank account
- Click Add a bank account
- Enter the ‘Sort Code’ and your ‘Account Number’
- Review the complete information, then click Agree and add
When using the PayPal app on your Smartphone to add a bank account, just move to settings and tap on Banks and Cards. Next, tap the “+” sign located on the top-right corner of your phone’s screen, then select the Bank account and proceed. After adding your bank account details, you need to confirm by navigating to Wallet and choosing the bank account you want to verify and then click Confirm.
Once you have successfully added and confirmed your bank account, you can withdraw money to the bank account. The following steps are helpful.
- Navigate to Wallet
- Select Transfer money
- Select Withdraw from PayPal to your bank account
- Select the bank account to transfer the money to and then click Next
- Enter the amount to send and click Next
- Review and confirm your request and then transfer
If you are using the app on your smartphone, you can withdraw money from PayPal to your bank account by tapping your PayPal balance, selecting Withdraw the money, and proceeding. Transfer of funds from PayPal to a bank account can take around 3-5 days. If you live in the US, you can instantly transfer money from PayPal to your Bank but pay high transfer fees. It takes approximately 30 minutes for the instant transfer to complete.
How to transfer money from a bank account to Cash App
Before you can initiate any transfer of funds from a bank account to a Cash App, you would have to first add the bank account details on your Cash App. By following the steps below, you can successfully add a bank account.
- Select the Banking tab on the Cash App home screen
- Tap Link Bank
- Follow the prompts
You can also modify an existing bank account by following the steps below.
- Hit the Banking tab on the Cash App home screen
- Tap on ‘Linked Banks or Accounts’
- Tap on the account you need to modify
- Choose Remove Bank or Replace Bank, whichever is applicable.
- Follow the prompts
Once you have successfully added the bank account to the Cash App, you can then transfer funds to your Cash App, as shown below.
- Open the Cash app on your smartphone
- Select the ‘Banking‘ option in the app
- Tap the option ‘Add Cash’
- Enter the amount you wish to transfer
- Tap the ‘Add‘ button
- Confirm the transfer using your Touch ID or PIN
It can take one to three business days for the money to reflect in your bank account. The duration depends on your Bank. Therefore, the transfer of funds from PayPal to your Cash App account can take about 4-8 days when you use the standard transfer method. If you use PayPal instant transfer to your Bank, it can take 1-3 days for the funds to reach your Cash App account.
Cash App supports a variety of banks in the US and UK. For instance, you can transfer money from chime to cash app, from Ally bank to Cash App, and so on.
You have seen that it is easy to transfer money from a bank account to Cash App. Interestingly; it is possible to transfer funds from Cash App to a bank account. If you receive a payment, a gift in the form of cash or a token of appreciation in your Cash App account, you can withdraw it to your bank account and utilize it in various forms of transactions.
There are two methods you can use to transfer money from Cash App to a bank account. They include;
- Standard speed
- Instant speed
The standard speed is the common one but takes a little bit longer. It takes 2-3 days for funds to reflect in your bank account. The standard deposits are free of charge, while instant transfers attract a 1.5% fee (with a minimum of $0.25). The following procedure can help you to transfer funds from your Cash App to your bank account.
- Hit the Balance tab on the Cash App home screen
- Select Cash Out
- Choose the amount to withdraw and press Cash Out
- Select a deposit speed (instant or standard)
- Enter your PIN or Touch ID to confirm the transaction.
After performing the above procedure, you just sit back and wait for the money to reflect, depending on your selected deposit speed.
Does Cash App support cards?
Yes. Cash App supports American Express, Visa, MasterCard, and Discover debit and credit cards. Cash App also supports most government-enabled prepaid cards, although you cannot deposit on such cards. It does not support PayPal and other business debit cards.
Cash App also issues a free debit card to subscribers. The card connects to your Cash App account balance so that when you spend using the card, the transaction reflects in your account. You can use the Cash App Card online and in physical stores to buy goods and services.
Since you can transfer money from one card to another online, it is possible to transfer funds from your Cash App card to another card online as long as Cash App supports it. If you want to order your Cash App, you can follow the steps below.
- Hit the Cash Card tab on the Cash App home screen
- Select Get Cash Card
- Tap Continue
- Follow the steps
The card will arrive within ten (10) business days. Cash App requires that you be 18 years of age and above to apply for the card.
How do I receive money from others into my Cash App account?
You can request money from your friends by using the $Cashtag. The $Cashtag is a unique identifier for each Cash App user, may it be a specific individual or a company. Your friend will use your $Cashtag, phone number or email address to send you money as per the agreements.
To see received money in your account, navigate to your activity feed to view the details. To access the activity feed:
- Tap on the Activity tab on the Cash App home screen.
- Select the payment you wish to view from the list and tap on it. If you are trying to find a particular payment, but it is not available, the sender may have sent it to another phone number or email address belonging to you.
- Check all accounts.
How do I send money to others using the Cash App?
You can transfer money to other Cash App users just like you can receive from them. You need their $Cashtag, phone number or email address to transfer the money. If you have a low balance in your Cash App, you can use your linked bank account or card to fund your transaction.
The steps to send money using the Cash App are as follows.
- Open your Cash App
- Enter the amount
- Select Pay
- Enter the email address, phone number, or the $Cashtag of the recipient
- Write the payment purpose
- Tap Pay
Cash App to Cash App transfers are instant, and thus you have to enter the details keenly since you cannot reverse the transactions once you make a mistake. However, Cash App occasionally cancels payments for security reasons.
Does Cash App support international payments?
Cash app supports international payments between the UK and the US. If you are sending funds to the UK, Cash App converts the money to GBP. It is free to send or receive payments between the UK and the US.
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Conclusion on final thoughts based from the above
You cannot transfer money directly from PayPal to Cash App. However, you can transfer funds from PayPal to a bank account, and then to Cash App. Cash App enables the transfer of money to and from a bank account. You can link bank accounts and payment cards such as debit and credit cards to your Cash App. Only citizens from the US and the UK can use the international transfer services.