How to Transfer PayPal Credit to Another PayPal Account [8 Steps]

By Jim Marous 7 Min Read

It is possible to get cash (advance) from PayPal Credit account to another PayPal. It’s not a secret. However, you can only transfer PayPal credit to another PayPal account in the US—it does not work in the UK.

If you don’t have a friend/relative with PayPal account to send PayPal credit to, you can open a second PayPal to receive the credit since you can’t send money to yourself from your PayPal Credit account.

How to transfer PayPal credit to another PayPal account

Transferring PayPal credit to another PayPal account is typically quick and straightforward if you follow the steps mentioned below:

1. Log in to your PayPal account

The first thing you need to do is log in to your PayPal account. Also, make sure you have your login credentials handy.

2. Go to the “Send & Request” tab

Once you’re logged in, click on the Send & Request tab on the top menu bar of your account.

3. Select “Send Money”

Select Send Money from the options available. This will take you to a page where you can enter the details of the transfer.

4. Enter the recipient’s email address

On the Send Money page, enter the email address of the recipient. Make sure it’s the email address associated with their PayPal account.

5. Enter the amount you want to transfer

Enter the amount of PayPal Credit you want to transfer. You can also choose the currency you want to use.

7. Select “PayPal Credit”

Choose PayPal Credit as your sending account to transfer PayPal credit to another PayPal account. As mentioned earlier, if you reside in the UK, you won’t be able to transfer your PayPal credit. You can only use your PayPal Credit to pay for merchant goods in the UK PayPal.

8. Select “Sending to a friend”

Under What are you sending money for, select Sending to a friend, this may ensure that you’re not charged any fees for the transfer.

Double-check all the details you’ve entered, including the recipient’s email address and the credit amount to transfer to another PayPal account. Once you’re sure everything is correct, click Send.

How long does it take to transfer PayPal credit to another PayPal account?

Transferring PayPal credit to another PayPal account should be instant within 3 minutes or up to 30 minutes. But the time it takes to complete can depend on a few factors. The transfer time may vary based on the amount of credit being transferred and the recipient’s location.

Recipient’s location

If the recipient is in the same country as the sender, the transfer should be instant. However, if the recipient is in another country, it may take a few days for the transfer to be processed and completed.

Amount of credit being transferred

The amount of credit being transferred can also impact the transfer time. Smaller amounts, such as a few dollars, should transfer almost immediately. In contrast, larger transfers, such as hundreds or thousands of dollars, may take longer to process.

Read also: Netspend to PayPal in simple steps…

PayPal credit transfer fee to another PayPal

Transferring money from PayPal Credit to PayPal involves some fees that users need to be aware of before initiating the transfer. Note that you will be charged the same fee that’s charged when you use a debit or credit card to send money with PayPal.

Here are the fees you’ll be charged:

Transfer fee

PayPal charges a fee of 2.9% of the transfer amount, plus $0.30 for each transaction.

Cash advance fee

Let us assume you transfer money from PayPal Credit to PayPal and then withdraw it to your bank account, you’ll be hit with a cash advance fee of 5% of the total amount, with a minimum fee of $5.00.

Interest charges

Suppose you don’t pay off your entire PayPal Credit balance before the transfer, you might end up with some interest charges on the remaining balance. The interest rate depends on your creditworthiness and the terms of your PayPal Credit account.

One more thing to keep in mind is that PayPal can change fees at any time, so it’s always a good idea to check the current fee schedule before transferring any money. And, make sure you have enough money in your PayPal Credit account to cover the transfer fees and any interest charges that might apply.

How do I know my PayPal credit limit?

Checking your limit is quick and easy, and you can do it directly from your PayPal account dashboard.

To check your limit, simply;

  • Log in to your PayPal account and go to your dashboard.
  • Once you are on the dashboard, locate the PayPal Credit button and click on it.
  • You will then be redirected to your PayPal Credit account page, where you can view your available credit limit. Keep in mind that your limit may change depending on your account activity and creditworthiness.

Keep track of your PayPal Credit limit to avoid any issues with purchasing items online or sending funds. If you have any concerns about your credit limit or account, contact PayPal’s customer service for assistance.

Read also: Revolut to PayPal funding steps

Conclusion—transfer PayPal credit to another PayPal account

While PayPal lets you send PayPal credit to another PayPal, also keep in mind that there could be some fees depending on where you and the recipient are located.

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Jim Marous is a Top 5 Retail Banking Influencer, Global Speaker, Podcast Host and Co-Publisher at The Financial Brand. I am a co-author here at Finance and Pay, writing on a lot of topics regarding payments, banking software, cards, and investing.
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