How to Get a Cash Advance with PayPal Credit

Can I Get a Cash Advance From PayPal Credit?

PayPal is most known for offering deferred payment financing options for online purchases, but that isn’t the only extension of credit available. If you need cash without making a purchase, you might be wondering if you can get a cash advance with PayPal Credit. The answer is yes, but there is a little bit of nuance to consider.

First and foremost, you’ll need to use the feature “Send Money” to transfer money to friends or family without making an actual purchase online. You cannot use this feature to send money to yourself. But, this type of credit extension is treated as a cash advance, so there may be a specific fee charged by and to PayPal for using this feature.

Keep reading to learn more about cash advance options with PayPal and alternatives to explore if you need instant cash online now!

How Can You Get a Cash Advance From PayPal Credit

As mentioned above, you can’t get a cash advance from PayPal Credit to give yourself money directly, but there is a workaround with this feature. If you have an available credit line through PayPal Credit, you may be able to access a portion of it by using the “Send Money” to friends and family feature. There can be a fee for this transaction, potentially being a percentage of the cash advance amount or a flat fee, depending on the fee structure for the service.

Once the individual has accessed the cash advance, they can send the payment back through PayPal. From there, you can add the payment amount to your balance and transfer it to the bank account connected with your PayPal account.

Keep in mind that in order to access a cash advance instantly online, you’ll need to pay the applicable fees for instant transfers. Additionally, make sure that you only send money to people that you trust to send it back, like a trusted friend, spouse, or another family member. Once you’ve sent it through the “friends and family” feature, you can’t get it back. Because PayPal does not extend their purchase protection agreement to payments made through this feature, you will be out of luck if they decide to keep the money, as you’ll have no way to pursue fraud claims. Before you borrow money from PayPal through these means, think carefully!

Do PayPal Cash Advances Have Higher Interest Rates?

Are you thinking of using the workaround to access instant funds online? PayPal may treat this type of transaction as a cash advance. Like credit card cash advances, the interest could start accruing immediately. That means from the “purchase” date, or the day you sent money, the interest can begin to accrue at a potentially higher rate than a regular purchase through PayPal Credit. 

Before pursuing a cash advance this way, consider the transaction fees, the timeline, and the potential interest you’re expected to repay in addition to the amount you want to borrow. 

Alternatives to Getting Cash Advance with PayPal Credit

If you’re looking for alternatives to getting a cash advance with PayPal Credit, there are a few common options to consider.

Credit Card Cash Advances

Unlike a cash advance with PayPal Credit, with a credit card cash advance, you’re allowed to withdraw cash from your credit card via an ATM or bank. While this can provide fast access to funds, as mentioned above, it typically comes with high fees and interest that begins accruing immediately.

Asking Friends or Family for Help

Another option is to ask friends or family for help. Borrowing from someone you trust means getting a flexible and (hopefully) interest-free repayment process. But, it also risks straining personal relationships if not handled carefully. If you plan to borrow money from someone you know, make sure to establish expectations for repaying the money. That includes due dates and the amount you want to repay in installments if you can’t afford to pay them back all at once. 

Cash Advance Loans Through Direct Lenders

If you aren’t interested in the hassle of getting a cash advance with PayPal credit, you can explore cash advance loans through direct lenders. These short-term loans, which are typically available online through direct lenders, can offer quick access to cash without the hoops. 
If you need fast funds to deal with personal expenses before your next payday, Max Cash^? can help you get connected to cash advances online! Call 833-207-9052 or fill out a short form online to get started. You can expect a simple and straightforward process!^{2 5}