This Venmo fee calculator is a valuable tool that helps you figure out the fees you may incur when using Venmo services. You can use this tool before making any significant transaction to get an idea of the exact fee or amount that Venmo will charge.
What is Venmo?
Venmo is a popular mobile payment app in the United States that allows users to send and receive money from friends and family. It is commonly used for splitting bills, making payments, and sharing expenses. Venmo is owned by PayPal and offers a social element to payments, allowing users to add comments and emojis to transactions.
Venmo is well-known for its user-friendly interface and ease of splitting costs like restaurant bills, rent, or group purchases.
How to Calculate Venmo Fees
This tool is very simple to use. Follow these steps to calculate the Venmo fee:
Step 1: Enter the amount you wish to transact.
Step 2: Select the transaction type from the available options.
No further steps are required! The calculator will instantly calculate and display the applicable Venmo fee and the final amount after the deduction of the fee.
Venmo Fee Structure
Venmo charges fees for certain types of transactions, including transactions for goods and services, sending money via a credit card, and merchant/business transactions. Below is a detailed breakdown of these fees:
Account Opening and Holding
| Transaction Type | Fee |
|---|
| Account Setup | FREE |
| Monthly Fee | FREE |
Spending or Sending Money
| Transaction Type | Fee |
|---|
| Online Purchases | FREE |
| Sending Money using Credit Card | 3.00% |
| Sending Money using Other Methods | FREE |
Adding Money
| Transaction Type | Fee |
|---|
| Adding Money via cash a check feature (faster check deposits, payroll and government checks) | 1.00% (minimum $5 fee) |
| Adding Money via cash a check feature (faster check deposits, all other accepted checks) | 5.00% (minimum $5 fee) |
| Receive Payments in Business or Charity Profile (for goods and services) | 1.9% + $0.10 or 2.29% + $0.09 (whichever is higher) |
Money Transfer
| Transaction Type | Fee |
|---|
| Electronic Withdrawal (Standard) | FREE |
| Electronic Withdrawal (Instant Transfer) | 1.75% (minimum $0.25 fee, maximum $25 fee) |
Buying or Selling Cryptocurrencies
| Purchase/Sale Amount | Fee |
|---|
| $1.00 - $4.99 | $0.49 |
| $5.00 - $24.99 | $0.99 |
| $25.00 - $74.99 | $1.99 |
| $75.00 - $200.00 | $2.49 |
| $200.01 - $1000.00 | 1.80% |
| Over $1000 | 1.50% |
Cryptocurrency Transfer
| Transaction Type | Fee |
|---|
| Receiving Cryptocurrency | FREE |
| Transferring Cryptocurrency to Another Venmo or PayPal Account | FREE |
| Transferring Cryptocurrency to an Address Outside Venmo/PayPal | Amount Varies |
Using Venmo Mastercard
| Transaction Type | Fee |
|---|
| Venmo Debit Card Acquisition | FREE |
| ATM Withdrawal in MoneyPass Network | FREE |
| ATM Withdrawal in Non-MoneyPass ATM | $2.50 |
| ATM Balance Inquiry | FREE |
| Over-the-Counter Cash Withdrawal | $3.00 |
| Automatic Reloads Using Bank Account | FREE |
| Venmo Debit Card Replacement | FREE |
Venmo Visa® & Venmo Visa® Signature Credit Card
| Transaction Type | Fee |
|---|
| Annual Fee | None |
| Foreign Transaction | None |
| Cash Advances | Either $10.00 or 5% (whichever is greater) |
| Late Payment | Up to $41.00 |
| Returned Payment | Up to $29.00 |
