As digital wallets become increasingly popular, you might start to recognize the names Zelle and PayPal. While PayPal may be considered the service to beat, money transfer apps like Zelle are playing catch up. And if doubts are cast on these transfer services, one should only know big companies in the United States back both Zelle and PayPal. But can you transfer money from Zelle to PayPal and vice versa?
We did ask because, well, aren’t transfer services like Zelle and PayPal supposed to offer convenience in transferring money? In this article, you’ll find there is no direct way to transfer from Zelle to PayPal. However, you’ll also find a workaround to make this possible with ease.
Inside This Article
- Can Zelle Send Money to PayPal?
- How to Transfer Money from Zelle to PayPal or Vice Versa?
- What Is The Transfer Limit on Zelle and PayPal?
- Does Zelle Charge a Fee for Sending or Receiving Money?
- Zelle vs PayPal: Which Is Better?
It is ironic to try to comprehend how some apps and services are connected throughout the vast space we call the Internet. However, some apps are simply incompatible digitally; such is the case for Zelle and PayPal. Like Venmo to PayPal, there is no direct link that will allow you to transfer directly from Zelle to PayPal or PayPal to Zelle.
But there are creative workarounds in order to transfer funds from those who own Zelle accounts to PayPal accounts. If you want to find out more, continue reading as we give you a comprehensive guide to the nitty-gritty of how to receive money from Zelle to PayPal.
So, you own Zelle (or PayPal) and want to transfer to PayPal (or Zelle), and you know there is no direct way to do this. No need to fret and panic! Below is the only guide you need to make this transaction happen, and it is quite easy!
It should be easy to enroll your bank account in Zelle considering Zelle is widely regarded and integrated into almost all bank apps in the United States.
If you received money from a Zelle-affiliated account, here’s how you can receive that money and enroll your bank account in Zelle:
- First, download the Zelle app for Android or iOS devices.
- Sign up for a Zelle account.
- Once the account is set up, search for your bank’s name.
- Tap on Go To Your Mobile Banking App to proceed.
- Click on the link provided in the payment notification via SMS or email.
- From the list, select your bank or credit union.
- Follow the instructions provided on the page to enroll and receive your payment.
If you do not see your bank in the list, you can enroll your Visa or Mastercard account manually.
- First, download the Zelle app for Android or iOS devices.
- Go through the installation process. Once down, open the app and sign up for an account.
- To enroll in your Visa or Mastercard, enter your basic contact information (i.e. U.S. phone number and email address).
- Once the account is set up, search for the name of your bank. If it does not show on the list, tap on the Don’t See Your Bank? button.
- Enter your email address where you will get a verification code.
- Type in the verification code on the Zelle app and tap Enter.
- Next, input the Visa or Mastercard card number and other related bank card information.
- Tap Continue.
- Go through the rest of the instructions you see on the screen after.
From here, you can transfer money from your Zelle app to your bank account and vice versa.
Zelle does not accept debit cards associated with international deposit accounts or any credit cards.
The beauty of Zelle is that it doesn’t hold the money someone has sent you. Unlike PayPal, it doesn’t have a wallet to keep a balance in it and sends every penny that comes into your Zelle account directly to your bank. With that, it saves you time from manually sending your money to your bank and waiting for a deposit hold period. All you have to do is to request the payment someone owes you with Zelle, which you can do by following the instructions below.
You won’t be using your Zelle app for these steps. This is because Zelle is baked into mobile banking apps that it is affiliated with, which is 97% of banks in the United States. You’ll see the option there in the Menu pane.
Let’s take Chase Bank as an example to request money from Zelle.
- First, make sure you have the Chase Bank (or any of your bank of choice) mobile app installed on your smartphone.
- Look for the Menu pane button (usually represented by three stacked horizontal lines) on the top left of the Chase Bank app.
- Tap on QuickPay with Zelle under the Pay section.
- On the drop-down menu, select Request and Split Money.
- Next, tap Add to select the person you are requesting the money from your contact list, or type in a name in the space provided.
- Next, type in the person’s phone number or email address in the spaces provided. Then, tap Add Participant.
- On the next page, type in the amount you wish to request with Zelle.
- Next, tap on Deposit Info… and select the bank account you want Zelle to send the money to.
- To finish, tap Request Money. Once the person approves your request, you’ll receive the money directly to your bank account, which you can then send to PayPal.
If your bank or credit union is affiliated with Zelle, you’ll receive the money within minutes. Otherwise, the money should reflect in your bank account within one to two business days.
Now that you have linked your Zelle account to your bank account, transferring money back and forth should be easy. In fact, you have taken the first step to be able to send money from Zelle to PayPal as well.
Let’s use Chase Bank as an example again to transfer money from your bank to PayPal.
- First, download the PayPal app for Android or iOS devices.
- Open the app once the download is done.
- Tap on Wallet from the bottom band of options you see on the screen.
- Next, tap the (+) button beside the Banks and Cards heading.
- Now, select the Debit and Credit Cards option.
- Enter your Chase Bank card number and go through the rest of the linking process.
Now, the final step in transferring money from Zelle to PayPal is to simply cash in your PayPal account using your linked bank account. To do this, follow these steps:
- Open your PayPal app and log in using your account.
- On your home screen, you should see your PayPal balance. Tap the three dots icon to open more options.
- From the pop-up menu, select Add Money From Bank.
- Next, enter the amount you wish to cash in then tap Next to proceed.
Because by default you have your Chase Bank account linked, the money should reflect on your PayPal balance in real-time.
Since there is no direct line to transfer from Zelle to PayPal, the answer to this question varies. The steps outlined above show a three-way transfer from Zelle to your bank account — from your bank account to PayPal. From this alone, we can deduce the following:
- PayPal has a limit of $10,000 per transfer transaction. If you wish to transfer an amount larger than $10,000, you simply have to repeat the transfer process.
- Your chosen bank has a transfer limit set as well. For example, most Chase Bank accounts can transfer $25,000 per day. On the other hand, Chase Private Client and Chase Sapphire Banking limits are $100,000 per day.
- However, according to Zelle, “If your bank or credit union does not yet offer Zelle, your weekly send limit is $500. Please note that you cannot request to increase or decrease your send limit.”
So, it really depends on your bank’s set transfer limit — the bank account you chose to link in both Zelle and PayPal — how much you can transfer per day to your PayPal account.
Here’s a beauty about using Zelle — Zelle does not charge its customers any fee for transferring or receiving money. However, it would be wise for customers to check with their banks for any possibility of additional fees from their end.
PayPal remains a preferred digital wallet for digital transfers, simply because it can be accessed anywhere and for anything you need. PayPal can be used as a digital wallet and can pay for any purchases across America. Additionally, you can also link a bank of your choice with PayPal; in fact, almost all commercial banks can be linked with PayPal with ease and convenience. In comparison, Zelle has a specific list of member banks. And if your bank isn’t a member, you can link it with Zelle but its features, especially the transfer limits, varies.
All in all, PayPal is more appealing as it can transfer faster and direct to most commercial banks and eWallet services. But Zelle isn’t so bad a service as well.