Venmo has become one of the most popular payment apps, allowing users to easily send and receive money. It’s free to sign up and use Venmo for standard peer-to-peer payments funded from your Venmo balance, bank account or debit card.

However, Venmo does charge fees in certain situations – for instant transfers, transactions funded by credit cards, business payments and withdrawals. Understanding Venmo’s fee structure can help you avoid unnecessary charges and maximize savings.

In this comprehensive guide, we’ll break down Venmo’s fees for different transaction types and introduce a helpful Venmo fee calculator to estimate costs.

Venmo’s Complete Transaction Fee Structure

Venmo has become a popular payment app for peer-to-peer transactions. While basic sends and receives are free, Venmo does charge fees in certain situations.

Here is a breakdown of Venmo’s fee structure for all transaction types:

Sending Money

  1. Online Purchase: No fee
  2. Sending Money with Debit Card: No fee
  3. Sending Money with Credit Card: 3% of amount (minimum $0.10)
  4. Transfer from Bank Account: No fee

Receiving Money

  1. Receive Money in Personal Account: No fee
  2. Receive Merchant Refund: No fee
  3. Receive Money via Direct Deposit: No fee

Adding Money

  1. Cash Deposit (Payroll/Govt Checks): 1% fee
  2. Cash Deposit (Other Checks): 5% fee (minimum $5)
  3. Receive Business Payment: 2.29% + $0.09 per transaction

Venmo Debit Card

  1. Debit Card Acquisition: No fee
  2. ATM Withdrawal (In-Network): No fee
  3. ATM Withdrawal (Out-of-Network): $2.50 per transaction
  4. ATM Balance Inquiry: No fee
  5. Over-the-Counter Withdrawal: $3 per transaction
  6. Automatic Reloads: No fee
  7. Debit Card Replacement: No fee

Venmo Fee Calculator

To estimate the fees for a Venmo transaction, use the calculator below:

  1. Enter the payment amount
  2. Select transaction type
  3. Review fee breakdown and net amount

This Venmo fee calculator provides a quick and easy way to understand the potential charges for different payment types, withdrawals, business transactions and more.

Knowing the fees involved with Venmo allows you to avoid surprises and unnecessary charges. Stick to bank or debit transfers when possible, minimize credit card payments and instant transfers, and take advantage of weekly sending limits.

With free transfers between Venmo friends, it remains one of the most affordable mobile payment apps. Just utilize the tips and fee calculator in this guide to maximize savings!