PayPal is a money transfer service based in the United States that allows you to send money to over 200 countries across the world. With over 300 million active users, it is the most popular money transfer service on the planet. Venmo, a money transfer service that exclusively runs in the United States, is also owned by the firm. You can receive and transfer money within the United States, unlike the parent business PayPal, which allows you to send money globally. I'll show you how to use MoneyGram to withdraw money from PayPal.
Keep in mind that PayPal allows you to do more than only send and receive money online. It enables you to withdraw funds for a variety of transactions that your PayPal account does not permit. PayPal does allow you to purchase goods and services over the internet. However, due to a lack of resources and maybe trust difficulties with digital money, not all merchants accept PayPal.
You can transfer money from your PayPal account to a bank account or a debit card linked to it. For your knowledge, PayPal is the greatest way to send money to someone else in another country so that they can withdraw it to their bank account. That's because PayPal to PayPal transfers are instantaneous, and you may now transfer money to your bank account in as little as three days. International bank transfers might take up to five days.
Check Out: How to Setup PayPal Key and Get a Free Virtual Credit Card
How to get started with PayPal?
By creating an account with PayPal online, you can get started right away. The website accepts both personal and commercial accounts, and you can create one in minutes if you meet all of the prerequisites.
You'll need a secure and dependable internet connection on your computer, smartphone, or tablet. To open an account, you'll need a phone number, an ID document, an email address, a physical address, and a bank account, among other things.
When you have everything you need, go to the PayPal website on a computer or download the PayPal App from the Google Play Store on a smartphone to create an account. The app is also available for iPhone users, and can be downloaded from the App Store. The steps for creating a PayPal account on a computer are outlined below.
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- Visit PayPal website
- Navigate to the platform’s Sign Up page.
- Choose which account type you want to open and click Sign Up Now.
- Enter your details, such as your full email address and a strong password (password must contain at least eight characters which are case sensitive). You will need the details to log in to your PayPal account.
- Tap Next.
- Tap Agree and Create Account.
When opening an account on a smartphone or tablet, all you have to do is download the app from the necessary websites and follow the on-screen instructions. Using a smartphone to establish an account is easier and more handy than using a computer.
You'll be able to execute a variety of transactions once your account is up and running. You'll be able to send money to friends and relatives, withdraw money to a bank, pay bills, and so on using PayPal.
How to verify your PayPal account?
Remember to authenticate your account to gain access to all of the necessary features. You can do so by following the steps below.
- Move to PayPal to log into your account.
- Hit the Pay & Get Paid option.
- Under Wallet, choose Banks & Cards.
- Select the bank account to verify and proceed as per the instructions.
- Check your bank account or credit card transactions for PayPal’s deposit. Alternatively, you can use an automated system that does not require deposits.
- Confirm your account using either the code (for cards) or deposit amounts (for bank accounts).
After that, you will have verified your account.
What is MoneyGram?
Before we look at how to use MoneyGram to withdraw money from Paypal, it's important to understand what MoneyGram is. MoneyGram is an American peer-to-peer payment platform and money transfer company headquartered in Dallas, Texas. It also has offices all around the world. The company's transaction activities are facilitated by a network of agents in a variety of nations around the world.
You can open a MoneyGram account online by going to the company's website and filling out the sign-up form. You can then enter your email address and create a strong password to protect your account.
A minimum of eight characters, at least one number, and at least one letter should be included in the password. Then, input your cell phone number and check the boxes below, then click the Continue button and proceed with the processes.
How to withdraw money from PayPal using MoneyGram?
I can transfer money from PayPal to my bank account in one of two ways: immediately to my debit card or three days later to my bank account. Is it, nevertheless, feasible to use MoneyGram to withdraw funds from PayPal? When it comes to transactions, MoneyGram does not accept PayPal as a payment method.
Read Also: How To Transfer Money From PayPal To Bank Account Instantly
You can transfer money to MoneyGram if you have a PayPal debit card. MoneyGram allows MasterCard and Visa debit cards, and the PayPal card is a MasterCard card, thus it works perfectly with the platform.
You can transfer money to a bank account after transferring money from your card to your MoneyGram account. MoneyGram allows you to send money from your account to a bank account in a few simple steps, as demonstrated below.
- Sign up or log in to your account. Enter your information for identity verification.
- Select a recipient from your recently sent list or send to a new person and enter the amount you want to send. Also include the place to where you are sending the funds.
- Select ‘Direct to Bank Account.’ You can also select ‘Account Deposit’ depending on your preferences. Select your preferred payment option, which can be directly from your bank account, credit, or debit card. In our case, you will need to choose a PayPal debit card.
- Enter the recipient’s details information. They include your recipient’s full legal names and their bank account information. Remember, these should be your bank account details since you want to withdraw from yourself.
- Review & send! Check whether every detail is correct, then send. The funds will arrive directly to the bank account with no further action required.
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How else can you withdraw money from PayPal?
As you can see, utilizing MoneyGram is a time-consuming process that is unnecessary unless your country prohibits you from withdrawing money straight from your account. You can withdraw money from PayPal in a variety of ways. The following are some of them.
1. Withdraw money to a debit card.
You can quickly or within a few minutes transfer money from PayPal to a debit card. PayPal users in the United States can use the debit card transfer option. Instead of transferring to your bank account, you choose for a debit card transfer. The transfer, however, is not free.
2. Withdraw to a bank account
Withdrawing money from PayPal to a bank account is the most usual method. When you authenticate your PayPal account, you normally add your bank account to finance your transactions or withdraw money. The steps below will show you how to transfer money from PayPal to your bank account.
- Log into your PayPal account. Make sure you have a linked bank account before starting the transfer.
- Navigate to “Pay & Get Paid” and choose “Transfer Money” from the menu.
- Decide how much you want to transfer and enter the amount in the provided space.
- Confirm your transfer details to see whether everything is okay and authorized.
The funds should arrive in your bank account within 1-3 days, but it could take up to ten days. You should contact PayPal service to inquire about the delay after five days. It's also worth noting that you can instantaneously transfer money from your bank account to PayPal to fund your transactions.
The major objective of adding your bank account was to fund your transactions in times of need and to withdraw funds from the account when necessary.
3. Withdraw money at an ATM
The PayPal debit card can be used to withdraw money from an ATM. The card looks and functions exactly like regular debit cards from banks and credit unions, and it can be used to withdraw money from an ATM as long as you know your PIN. You simply go to an ATM, slip your card into the machine, and withdraw cash.
Because many fraudsters pose as machine malfunctions in order to steal from unsuspecting customers, you should make sure that no one sees your PIN.
You can also use a bank or credit union counter to withdraw funds from your account. All you have to do is find a bank that accepts Mastercards and ask the cashier to withdraw money from your card account. You'll need to show proof of your identity.
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Conclusion on How to Withdraw Money From PayPal Using MoneyGram
PayPal is a financial services corporation based in the United States. The company has a global user base of approximately 300 million people. You can use a smartphone, tablet, or computer to open an account and utilize it to send money to people through the internet.
PayPal funds can be transferred to a bank account. You can only add money to MoneyGram using PayPal if you have a PayPal debit card.