Venmo Goods and Services Fee Calculator

Venmo Goods and Services Fee Calculator

Enter the total amount the buyer sends.

Venmo Fee (2.99% + $0.10): $0.00

Recipient Receives (Net): $0.00

function calculateVenmoFee() { var amount = parseFloat(document.getElementById('inputAmount').value); var resultsDiv = document.getElementById('resultsArea'); if (isNaN(amount) || amount <= 0.10) { alert("Please enter a valid amount greater than $0.10"); return; } var fee = (amount * 0.0299) + 0.10; var net = amount – fee; document.getElementById('displayFee').innerText = "$" + fee.toFixed(2); document.getElementById('displayNet').innerText = "$" + net.toFixed(2); document.getElementById('chargeInstruction').innerHTML = "Result: If the buyer sends $" + amount.toFixed(2) + " using Goods & Services, you will receive $" + net.toFixed(2) + " after the fee."; resultsDiv.style.display = 'block'; } function calculateAmountToReceive() { var targetNet = parseFloat(document.getElementById('inputAmount').value); var resultsDiv = document.getElementById('resultsArea'); if (isNaN(targetNet) || targetNet <= 0) { alert("Please enter the desired net amount you want to receive."); return; } // Formula: (Target Net + 0.10) / (1 – 0.0299) var amountToCharge = (targetNet + 0.10) / (1 – 0.0299); var totalFee = amountToCharge – targetNet; document.getElementById('displayFee').innerText = "$" + totalFee.toFixed(2); document.getElementById('displayNet').innerText = "$" + targetNet.toFixed(2); document.getElementById('chargeInstruction').innerHTML = "Result: To receive exactly $" + targetNet.toFixed(2) + ", you should ask the buyer to send $" + amountToCharge.toFixed(2) + "."; resultsDiv.style.display = 'block'; }

How the Venmo Goods and Services Fee Works

When you use Venmo for business transactions or to purchase items from individuals you don't know well, Venmo offers a "Goods and Services" protection. However, this protection comes at a cost to the seller. As of current Venmo policy, the standard seller fee for protected payments is 2.99% plus a fixed fee of $0.10.

Who Pays the Fee?

The fee is automatically deducted from the total amount sent. This means the recipient (seller) pays the fee. If a buyer sends $100.00, the seller does not receive the full $100.00 in their Venmo balance. Instead, Venmo takes its cut before the funds land in the account.

The Calculation Formulas

Depending on whether you are the buyer or the seller, you need to calculate this in two different ways:

• To find the Net Amount: (Total Sent × 0.0299) + 0.10 = Fee. Then, Total Sent – Fee = Net Received.
• To find the Total to Charge: (Desired Net + 0.10) ÷ (1 – 0.0299) = Total to Charge.

Realistic Examples

Example 1: Selling a $50 Item
If you sell a vintage lamp for $50 and the buyer tags the payment as "Goods and Services":
• Variable Fee: $50 × 0.0299 = $1.495
• Fixed Fee: $0.10
• Total Fee: $1.60
• You Receive: $48.40

Example 2: Needing Exactly $100
If you are a freelance designer and need to clear exactly $100 after fees:
• Calculation: ($100 + 0.10) / 0.9701 = $103.18
• You should invoice: $103.18

Why use Goods and Services?

While the fee might seem like an unnecessary expense, it provides Purchase Protection for the buyer. If the item never arrives or is significantly different than described, Venmo may facilitate a refund. Transactions sent as "Friends and Family" do not have this protection and are generally intended for people you trust personally.

Quick Tip for Sellers

Always clarify with your buyer beforehand who will cover the transaction fee. Many sellers adjust their listing price upward slightly to account for the 2.99% + $0.10 deduction so that their final profit margin remains unchanged.