Venmo fees for receiving money
| Payment | Fee to the receiver |
|---|---|
| Between friends, paid from Venmo balance, bank or debit card | Free |
| Goods and services on a personal profile | 2.99% |
| Payment to a business profile | 1.9% + $0.10 |
On a $100.00 goods and services payment you receive $97.01. The same payment to a business profile leaves $98.00.
Instant transfer
Moving money to your bank with a standard transfer is free. An instant transfer costs 1.75% of the amount, at least $0.25 and at most $25. A $100.00 goods and services payment cashed out instantly leaves $95.31.
Refunds and sending fees
Venmo does not give the fee back when you refund a goods and services or business payment, so a refund still costs you the original fee. Sending money is free from your Venmo balance, bank or debit card. The sender pays 3% when they pay with a credit card.
Venmo fees at common amounts
Goods and services on a personal profile, standard transfer:
| Payment | Fees | Fee share | You get paid |
|---|---|---|---|
| $10.00 | $0.30 | 3.0% | $9.70 |
| $25.00 | $0.75 | 3.0% | $24.25 |
| $50.00 | $1.50 | 3.0% | $48.50 |
| $100.00 | $2.99 | 3.0% | $97.01 |
| $250.00 | $7.48 | 3.0% | $242.52 |
| $500.00 | $14.95 | 3.0% | $485.05 |
| $1,000.00 | $29.90 | 3.0% | $970.10 |
Personal or business profile?
If you sell regularly, a business profile has a lower percentage, but its $0.10 fixed fee makes very small payments slightly dearer. For payments above about $9.20, the business profile's 1.9% + $0.10 costs less than 2.99%.
Venmo fee questions
How much does Venmo charge for goods and services?
2.99% of the payment, paid by the person receiving it. On $100.00 that is $2.99.
How much is the Venmo instant transfer fee?
1.75% of the amount you move, at least $0.25 and at most $25. A standard transfer is free.
Does Venmo charge to receive money from friends?
No. Payments between friends are free to receive.
What does a Venmo business profile cost?
Payments to a business profile cost the business 1.9% + $0.10 each.
Does Venmo refund the fee if I refund the buyer?
No. Venmo keeps the goods and services or business fee when you refund a payment.
Sources: Venmo fees