Fees to Watch Out For
- Credit Card Payments: Sending money using a credit card incurs a 3% fee.
- Instant Transfers: If you need money in your bank account quickly, Venmo’s “Instant Transfer” feature has a fee of 1.75% (with a minimum of $0.25 and a maximum of $25).
- Cashing Checks: There is a fee associated with using Venmo to cash checks.
- Business Transactions: Venmo charges fees for goods and services payments made to Business Profiles.
How Much does Venmo Charge?
Venmo is known for its convenience, but like any financial service, there are some costs you should be aware of. Here’s a breakdown of Venmo’s fee structure: