What Percentage Does Venmo Take?

Venmo is a popular mobile payment app that allows users to send and receive money to and from friends, family, and businesses. It’s a convenient and easy way to pay for things, but it’s important to be aware of the fees that Venmo charges.

Standard Fees

For most transactions, Venmo charges a flat fee of 3%, with a minimum fee of $0.25 and a maximum fee of $9.99. This fee applies to both personal and business transactions.

Sending $10: Fee of $0.30
Sending $100: Fee of $3.00
Sending $1,000: Fee of $9.99

Exceptions to Standard Fees

There are a few exceptions to the standard fees. Venmo does not charge a fee for:

Sending money to a friend or family member who is also a Venmo user
Receiving money from anyone
Using your Venmo balance to make a purchase
Transferring money from your Venmo balance to your bank account

How to Avoid Venmo Fees

There are a few ways to avoid Venmo fees. One option is to use a different payment app that does not charge fees. Another option is to send money to your friends and family using the “Friends and Family” option. This option is only available for personal transactions, and it does not allow you to send money to businesses.

Finally, you can avoid Venmo fees by using your Venmo balance to make purchases. When you use your Venmo balance, you will not be charged a fee.

Conclusion

Venmo is a convenient and easy way to pay for things, but it’s important to be aware of the fees that Venmo charges. By understanding the fees and how to avoid them, you can save money and make the most of your Venmo account.

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