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 Zelle to PayPal? 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.
For those that have heard at some point that it is not possible to send money from Zelle to PayPal and they ended up believing that then I am here to tell you today that it is very wrong.
Even though the process cannot be carried out directly, you are still able to conveniently send money from Zelle to PayPal employing indirect methods. Most users of the apps have already been discouraged as they realized that PayPal does not accept Zelle and also you can not add it as a bank on the app.
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.
Want to transfer money from Zelle to PayPal, then stay glued to this article as I will show you how to do so in a few steps.
Table of Contents
What is Zelle?
According to Wikipedia, 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.
The Zelle instant payment service was launched in June 2017. Previously, the Zelle service was known as clearXchange, which offered payment services through member financial institutions and a website.
Launched in April 2011, clearXchange was originally owned by Bank of America, JPMorgan Chase, and Wells Fargo. After Capital One and US Bank joined as partners, clearXchange was sold to Early Warning Services in January 2016. In December 2017, all clearXchange accounts for person-to-person payment services became Zelle accounts.
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.
Can I Send Money From Zelle to PayPal?
Actually, there is no way to send money from Zelle to PayPal directly since the 2 platforms do not support each other. But you can send money to a linked bank and then forward it to Zelle.
How to Transfer Money From Zelle to PayPal
Transferring money from Zelle to PayPal is quite an easy and straightforward process. You can follow the steps below to make a successful transfer from Zelle to PayPal.
Step 1- Link Zelle to Your Bank
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 you have already done this process successfully, 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 - Link PayPal to Your Bank Account
So once you have already 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.
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 from PayPal to Bank account.
- 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”.
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.
- 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
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.
Can You Cancel Zelle Transfer?
Zelle transactions are almost instantaneous. That means that it isn’t possible to cancel them. The only time when you can cancel a Zelle payment is when the recipient doesn’t yet have a Zelle account and the money is sitting in limbo.
In that case, go to your activity page in the Zelle app, or in your mobile banking app and find and select the payment you want to cancel. Lastly, select “Cancel This Payment.”
Can You Cancel PayPal Transfer?
Similar to Zelle, you can only revoke a PayPal money transfer or payment that is still outstanding or hasn't been claimed. Once the transfer has been made, it cannot be undone.
To cancel a pending or unclaimed payment on PayPal and get the money back:
- Open PayPal
- Go to the Summary page
- Find the pending payment
- Click “Cancel” under the pending payment
- Click “Cancel Payment “
If a payment is pending for 30 days, it will be canceled automatically and the money will be refunded:
- If you sent the payment using a debit or credit card, the money will be refunded to the card you used. It can take up to 30 days .
- If you sent your payment using a bank account, it will be reimbursed to your PayPal balance. Allow 3-4 business days.
Final Thoughts on How to Send Money From Zelle to PayPal
As you can see, sending money between Zelle and Paypal is difficult. It is simple to connect both to the same bank account and use that to send and receive money, though. With Zelle, you can send money as well, so you might use it to send money in the opposite direction.
Simply transfer funds from your Paypal account into the associated bank account, and then use Zelle to send them to anybody you need.
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.