Paypal is one of the most used platforms for transferring funds to different cash apps. Right? However, there is something familiar between PayPal and robin hood that both revolutionized money. Robinhood has a preliminary design to make the investment process easy. PayPal is for transferring money from one account to another through an easy process.
Recently PayPal announced a new feature to allow users to buy or sell crypto. There is no doubt that PayPal is the best choice for peer-to-peer transfers, but it currently only has limited investment plans In addition, Robinhood allows users to buy and invest in cryptocurrencies and stocks without paying any commission.
Now, if you want to move money from PayPal to Robinhood to start investing, this guide is for you. Here we will share a step-by-step guide that how you can transfer funds from PayPal to Robinhood.
So let’s dive into it.
Transfer From PayPal To Robinhood
You can transfer money from PayPal to Robinhood, but unfortunately, there is no direct way. You need to follow specific steps for moving money from Paypal to Robinhood.
The steps to transfer from Paypal to Robinhood include:
Create a Robinhood Account
It is quite a simple process to make a Robinhood account as a new user is quite a simple process. If you already have a Robinhood account, you must move to the next step. However, there are certain limitations or requirements for creating a Robinhood account. You need to be 18 years or older. Ensure a valid social security number, US residential address within any state, and US permanent resident or valid US visa.
Transfer Money from PayPal to your Bank
As we already said, you need to transfer funds from PayPal to the band and then bank to Robinhood. There is no direct way to transfer money from PayPal to your Robinhood account.
- Open the PayPal app on your divide.
- Tap on PayPal balance
- Click on transfer and then transfer money option at bottom of the screen
- Click on the bank account in which you want to move money
- Click next and enter the amount of money that you want to transfer
- Confirm the amount and click on the complete transaction.
Transferring money from your PayPal account to the bank will take one to three business days.
Link your Bank to Robinhood
Now, you can transfer money from the bank to Robinhood directly. Ensure to link your band with Robinhood for easy transactions. To link the bank account to Robinhood you need to follow the below-mentioned steps.
- Open the app and move to the transfers section by clicking on 3 bars at bottom of the screen.
- Select transfer money and then click on From and Select an account
- Now choose Add Account option and it opens a new window
- Click on continue and search your bank by using the search bar. If your bank is not on the list then you can use the Link Manually option.
- After selecting the bank, you must sign in to your bank app or online platform. Log in to your bank, choose the Robinhood account, and send a request to the link.
Transfer from your Bank to Robinhood
Open your Robinhood app and move to transfers. Click on Transfer money and select the account. Ensure to choose the account that you link before. Enter the amount that you want to add to your Robinhood account. Click on Transfers after confirming the amount. It will take a few days to complete the transaction.
