Venmo Transfer Fee Calculator

Venmo Transfer Fee Calculator

Instant Transfer (1.75% Fee) Standard Bank Transfer (Free)

Personal / Sending to Friends Business Profile / Goods & Services

Summary

Transfer Amount: $0.00

Transfer Speed Fee: $0.00

Seller/Business Fee: $0.00

Total Fees: $0.00

Net Amount Received: $0.00

function calculateVenmoFee() { var amount = parseFloat(document.getElementById('transferAmount').value); var transferType = document.getElementById('transferType').value; var businessType = document.getElementById('isBusiness').value; if (isNaN(amount) || amount <= 0) { alert('Please enter a valid transfer amount.'); return; } var transferFee = 0; var sellerFee = 0; // 1. Calculate Seller Fee (Goods & Services) // Venmo Seller fee is 2.99% + $0.10 if (businessType === 'seller') { sellerFee = (amount * 0.0299) + 0.10; } // 2. Calculate Instant Transfer Fee // 1.75% fee, minimum $0.25, maximum $25.00 if (transferType === 'instant') { transferFee = amount * 0.0175; if (transferFee 25.00) { transferFee = 25.00; } } var totalFee = transferFee + sellerFee; var netAmount = amount – totalFee; if (netAmount < 0) netAmount = 0; document.getElementById('resAmount').innerText = '$' + amount.toFixed(2); document.getElementById('resTransferFee').innerText = '$' + transferFee.toFixed(2); document.getElementById('resSellerFee').innerText = '$' + sellerFee.toFixed(2); document.getElementById('resTotalFee').innerText = '$' + totalFee.toFixed(2); document.getElementById('resNet').innerText = '$' + netAmount.toFixed(2); document.getElementById('venmoResult').style.display = 'block'; }

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How Venmo Fees Work

Venmo is one of the most popular peer-to-peer payment apps, but understanding when you will be charged a fee can be confusing. Fees primarily occur in two scenarios: when you want to move money to your bank account instantly, or when you use Venmo for business purposes.

1. Instant Transfer Fees

While Venmo offers a free "Standard" transfer that takes 1 to 3 business days, they charge for "Instant Transfers." This feature allows you to send money to your linked debit card or bank account within minutes.

• Rate: 1.75% of the total transfer amount.
• Minimum Fee: $0.25.
• Maximum Fee: $25.00.

2. Business and Seller Fees

If you have a Venmo Business Profile or if a sender tags a payment as "Goods and Services," Venmo charges a seller fee. This fee is non-refundable and is deducted before the money hits your balance.

• Rate: 2.99% of the transaction amount.
• Fixed Fee: $0.10 per transaction.

Example Calculations

To see how these fees impact your bottom line, consider these common scenarios:

Scenario A: Transferring $100 via Instant Transfer
$100 x 1.75% = $1.75 fee. You receive $98.25.

Scenario B: Receiving a $50 payment for a Business Sale
($50 x 2.99%) + $0.10 = $1.495 + $0.10 = $1.60 fee. You receive $48.40.

How to Avoid Venmo Fees

If you want to keep every penny of your money, follow these tips:

• Use Standard Transfers: If you can wait 1-3 business days, the standard transfer to your bank account is always $0.
• Pay with Balance or Bank: Sending money to friends using your Venmo balance, bank account, or debit card is free. Only credit card payments incur a 3% fee for the sender.
• Avoid "Goods and Services" for Friends: Only use the "Goods and Services" toggle when you are actually buying from a stranger or business to ensure you don't trigger unnecessary seller fees for your friends.