Understanding Venmo Fees – Complete Guide

Venmo is a convenient way to send and receive money, but like most financial platforms, certain transactions may come with fees. Understanding these charges helps you avoid surprises and manage your money efficiently.

1. Free Transactions

Most standard Venmo transactions, such as sending money from your Venmo balance or linked bank account, are free. You won’t pay any fee when:

• Transferring money to friends from your balance or debit card.
• Receiving money into your Venmo account.

2. Instant Transfer Fees

Venmo charges a small fee for instant transfers to your bank account or debit card. As of now, the fee is typically 1.75% of the transfer amount (minimum $0.25 and maximum $25).

3. Credit Card Fees

Sending money using a credit card linked to Venmo incurs a 3% fee. To avoid this, use a debit card, bank account, or your Venmo balance.

4. Business Transactions

If you receive payments for goods or services, Venmo applies a seller transaction fee, currently around 1.9% + $0.10 per payment.