Does Venmo charge a fee? Yes. Here are 4 ways to avoid them

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  • Venmo does charge a fee in some cases, however it’s very easy to avoid these charges depending on how you use the service.
  • Sending money on Venmo incurs a standard three percent fee, but the fee is waived when the transaction is funded with a Venmo balance, a debit card, or a bank account. However, the fee is not waived when sending money from a credit card.
  • Standard transfers are free. However, instant transfer to your bank account will cost you a one percent fee.
  • If you have a Venmo card, You don’t pay a fee when you use it to make purchases, but you may incur a fee when using your Venmo debit card at an ATM or through a bank teller to withdraw cash. The ATM fee is $2.50 per withdrawal transaction and could rise to $3 for over-the-counter bank withdrawals. However, there’s no fee when you withdraw money from your Venmo balance using the MoneyPass ATM.
  • Most Venmo’s services are free, but not all, so you need to watch out for unexpected transaction fees.

Like most payment platforms, Venmo does charge fees for certain transactions.

However, it is possible to use Venmo for free without ever paying fees. This will largely depend on how you use the app.

Venmo does charge a fee if you send money using a credit card

The most common Venmo fee you are likely to pay is when you transfer money to another person or make purchases.

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Venmo charges a three percent fee whenever you use a credit card to send money. The three percent fee is from the credit card company; Venmo basically passed it on to you.

You can avoid the 3% purchase fee by sending money directly from your Venmo balance, debit card, or bank account. Venmo does not charge a fee to send money as long as you are not using a credit card.

Venmo may also charge you a fee if you use a Venmo Card, or Instant Transfer

If you use the Instant Transfer feature to send money to your bank account, you will be charged a fee. Venmo charges 1% with a minimum of $0.25 and a maximum of $10.

Standard withdrawals to bank accounts take one to three days but are always free.

There are additional fees associated with the optional Venmo Card, including a $2.50 ATM cash withdrawal fee and a $3 over-the-counter cash withdrawal fee at the bank.

Other ways to avoid Venmo fees

Don’t use your credit card to withdraw cash.

Avoid using the cash a check feature to add funds to your account: for payroll or government checks: 1% with a $5 minimum, all other checks: 5%, with a $5 minimum.

Avoid using Venmo’s check deposit services.

Resolving Venmo fee errors

If you believe Venmo has wrongly charged you. Here are three quick ways to contact Venmo to file a complaint and resolve transaction fees and disputes:

  1. Call Venmo through the custormer service at (855) 812-4430.
  2. Contact Venmo customer service through the online form.
  3. Send a mail to: PayPal, Inc., Attn: Venmo Error Resolution Department, P.O. Box 45950, Omaha, NE 68145-0950.

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