Posted by Chuck on May 20, 2019
Misc

Published on May 20th, 2019 | by Chuck

15

Paypal to Allow Sending Money to Venmo Accounts beginning in July

Paypal sent out a Policy Update email with a few small updates. One that I found a bit interesting is this:

We’re updating our User Agreement in anticipation of expanding our capabilities for PayPal Payouts. PayPal Payouts is being enhanced to allow payments to be directed to Venmo account holders in addition to PayPal account holders.

My read is that it’ll be possible to send money from a Paypal account to someone else who does not have a Paypal account but has a Venmo account. That sounds like a useful feature. I assume the way it’ll work is you’ll send money to the email address associated with the Venmo account, and Paypal will prompt them to accept the funds in their Venmo account.

The change will go into effect on July 9, 2019.



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Debit
Debit

What’s the MS angle?

Pointz
Pointz

Thats my question too

Kapil Dev Tejwani
Kapil Dev Tejwani

Manufactured Spending

Hari
Hari

Unless Paypal have dedicated feature to send Venmo payments, it will not be possible using email as users might have registered to both services using the same email.

Brad
Brad

My daughter just received a Venmo debit card so I will find this to me extremely useful.

Dan - Legal Bank Robber
Dan - Legal Bank Robber

Get her a credit card

Joseph
Joseph

People know their children, Brad can make his daughter an authorized user (sock drawing that credit card) and still teach responsibility with a debit card.

Anonn
Anonn

Seems to me like it’s only for ‘payouts’, when you have a balance, you’d be able to transfer to venmo instead of a bank account.

Creditian
Creditian

After you send the money, PayPal will shut down both accounts.

Hello
Hello

A heads up- you’re misunderstanding this.
Payouts is a feature that PayPal has so companies can pay out to customers. Payouts to Venmo is going to GA in July.

Alita
Alita

Since venmo has been cancelling the accounts of non profits, what we really need is a venmo >> to >> PayPal feature.

Grant

For Venmo to Venmo payments, you need to type a screen name starting with @, you can also do a phone number I believe. Maybe that is how you can transfer funds from PayPal to Venmo.

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