Are you curious about how to link SoFi to Paypal to make transferring of money but you don’t know how to do it? Throughout the post, you’ll learn everything you need to know about linking Sofi to PayPal.
Many people don’t even know if Paypal can be linked to Sofi Money, while the reverse is the case for some people. However, the simple answer is yes. It is very possible. All you have to do is to follow the step-by-step guide that will be highlighted below to get both services connected and work correctly.
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How to LinkSofi to PayPal.
To link sofi to a Paypal account, you are to choose the drop-down menu icon, then select the “bank account management” option. from here, you can decide to start linking a new account, or you can decide to add an existing one from the option to connect a new bank account. It is very possible to link SoFi accounts together.
To send money, you should select simply select the withdrawal option and then operate by choosing the amount of the recipient.
To add a bank to a Paypal account, Choose the “Wallet” option at the top right bar(where your balance is shown). Then you can add a new bank account or a credit card. Although this process is very easy to do, you will be required to make the corresponding identification with each transaction you make.
When you link a bank account, you generally allow funds to be transferred from one account to another. To make your payments on PayPal, you refer to the funds in the linked accounts or cards.
It is a convenient and quick way to maintain a dynamic balance. This way, you avoid having to reload the application every time you go to make a payment or transfer. Moreover, in the same way, you can link the account and unlink it.
The process is similar. You must access the corresponding section in the wallet, choose the payment method you wish to unlink, and proceed to delete it. However, it is important to note that you will not be able to unlink an account or card if you are not up to date with your payments.
In some cases, PayPal may generate small overdrafts on that particular payment method. Therefore, if the account has not covered all the expenses it has developed, you will not be able to close it until you pay the debt.
How to Transfer Money Outside SoFi
In addition to what we have told you about PayPal and SoFi, it is also interesting to consider other options when transferring money from SoFi.
If you want to transfer money, the first thing you should do is open your app and select the money transfer option. Then you should choose the source, a current account, to a savings account. From these two options, you will be able to send money.
It is more complicated than investment accounts as there is no transfer button. You should choose a current personal statement and transfer the money from there, having transferred between accounts.
On the other hand, you should also remember that if you opened your investment account with a different email address than SoFi Money, that is the email address you should use to send the money from the investment account to the current one.
These internal movements or transfers should not incur any costs. But remember, when you use PayPal or even for certain transfers or payments, there are some costs that you should be aware of.
These external transfers are varied: you can use them simply because you need money and want to use the resources you have in SoFi or because you want to leave the tool.
Remember, you can never leave negative balances, nor will you be allowed to delete accounts or transfer all the money if there are debit balances.