Venmo Fee Calculator

Tool Updated: 19-01-2024 03:42:24 pm

Are you tired of paying unexpected fees when using Venmo to send and receive money from friends and family or for business? Don't worry! Our Venmo Fee Calculator is here to help!

Simply enter the amount of your transaction, select transaction type and we'll instantly calculate the cost of using the Venmo service. It doesn't matter whether you're paying with a debit or credit card, using an instant transfer, or receiving payment for business, our calculator will provide you with a clear breakdown of all applicable fees for every type of Venmo transaction. Stay on top of your finances and avoid surprise charges with our easy-to-use and user-friendly Venmo Fee Calculator!

Discover Your Venmo Fees: A Simple and Quick Calculator

Venmo Fee Calculator

Venmo is a popular peer-to-peer payment processing service company that helps people to send and receive payments online. Venmo charges fees for certain types of transactions, including transactions for goods and services, sending money using a credit card, and merchant/business transactions. To calculate the fee for any type of transaction on Venmo, you need to use a calculator named Venmo fee calculator. Venmo Fee Calculator is an online tool designed to help users easily calculate the applicable fees for all transaction types on Venmo.

Why Newisty Venmo Fee Calculator is Very Important 

Newisty Venmo fee calculator is a helpful tool for users to understand the cost of using Venmo service. This Venmo fee calculator tool is very important because Venmo charges fees for certain types of transactions, such as credit card payments, merchant/business fees, or instant transfers. This tool has a reverse calculation feature, which will help you to understand the exact amount a sender needs to transfer, ensuring that you receive your desired amount, even after Venmo fees are deducted. Also, this tool supports all types of Venmo Transactions. It’s not just a feature, it’s your personal financial assistant making transactions smoother and more transparent!

By using the Newisty Venmo fee calculator, users can determine the cost of using the Venmo payment service (including + excluding fees) before they make a payment or receive a payment, which can help them budget for their transactions and avoid unexpected fees.

This Venmo Fee Calculator is the best thing since free pizza! cool

Venmo Fee Structure

Suppose – you're on the Venmo dance floor, ready to make some moves with your money. But wait, what's the deal with those fees? Fret not, because we've got the lowdown on Venmo's fee structure, and we're here to break it down for you in plain ol' English.

This Venmo fee Structure in Newisty Venmo Fee Calculator, reflects the latest fees of Venmo from Venmo Official Website.

Account Open / Monthly Fee 

Transaction Type Venmo Fees
Account Create / Monthly Fee Free

First things first – creating a Venmo account won't cost you a dime. Yep, it's absolutely free! So, feel free to dive into the world of easy-peasy transactions without worrying about a monthly fee creeping up on you. 

Send Money Fee

Transaction Type Venmo Fees
Sending money to people
(using your credit card)
Online purchases / Sending money to people
(using your balance/debit card/bank)

Sending money using your credit card? Keep in mind, there's a 3% fee attached. But if you're using your balance, debit card, or bank, it's smooth sailing – no fees here! So, when it comes to sending money, choose wisely, and keep those extra bucks in your pocket. 

Adding Money / Receive Money Fee

Transaction Type Venmo Fees
Adding money using cash a check feature (faster check deposits, payroll, and government checks) 1.00%
(minimum $5 fee)
Adding money using cash a check feature (faster check deposits, all other accepted check types) 5.00%
(minimum $5 fee)
Receive payments in your business profile, in your charity profile, or that are identified as for goods and services (Venmo Merchant / Seller Fees) 1.9% + $0.10
(Venmo Merchant Fees for Tap to Pay Payment) Receive Tap-to-pay payments for goods and services in your business or charity profile 2.29% + $0.09

Now, let's talk about adding money. If you're tossing in some cash through the check feature for faster deposits or payroll checks, there's a 1.00% fee, with a minimum of 5 bucks. But for other check types, it's a 5.00% fee, again with a minimum $5 charge. When you're raking in payments for your business or charity, there's a 1.9% + $0.10 fee. And if you're into the Tap-to-Pay groove, it's 2.29% + $0.09. Keep these percentages in mind to stay in the financial groove. 

Transferring Money Fee

Transaction Type Venmo Fees
Electronic withdrawal
Electronic withdrawal
(Instant Transfer)
1.75% (minimum $0.25 fee, maximum $25 fee)
Over-the-counter cash withdrawal (bank and other financial institution) $3.00
ATM withdrawal (out-of-network) $2.50

Lastly, let's talk about transferring money. If you're going for the standard electronic withdrawal, it's on the house – no fees involved. But if you're in a hurry and opt for the Instant Transfer, be prepared for a 1.75% fee, with a minimum of $0.25 and a maximum of $25. Speed comes at a cost, after all!  

For Over-the-counter cash withdrawal (bank and other financial institution), there’s a $3.00 fee. This is when you need cash in hand and you go to your bank or financial institution to get it.

As for ATM withdrawal (out-of-network), there’s a $2.50 fee. This happens when you use an ATM that isn’t in your bank’s network.

Buying or Selling Cryptocurrencies Fee

Transaction Type Venmo Fees
$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%
Above $1000  1.50%

In a nutshell, Venmo's got your back with free account creation, but keep an eye out for those sneaky fees when sending, adding, or transferring money. Now, armed with this fee intel, go forth and Venmo with confidence! 💸✨ 

How to calculate Venmo Fees (All types of Transaction Fees)

Calculating Venmo fees is as easy as 1-2-3 with our Venmo Fee Calculator.

Step 1: Enter your transaction amount.much 

Step 2: Select your Venmo Transaction Type from the dropdown.

That's it! you will see your fees with the fee structure based on your amount and the amount that you will receive, how much fee will be deducted and how much sendser should send.

How to Avoid Fees on Venmo and Keep Your Money in Your Pocket

Venmo is a fantastic tool for sending and receiving money, but those fees can add up. Don't worry! We've put together some simple and effective strategies to help you dodge those fees and make the most of your Venmo experience.

  1. Choose the Right Payment Method:

    Venmo offers different fee structures based on how you fund your transactions. If you're sending money using your credit card, a 3% fee applies. But here's the good news – sending money with your balance, debit card, or bank account is completely free! So, opt for these fee-free options whenever possible to keep those dollars where they belong – in your wallet.

  2. Mindful Cash and Check Deposits:

    When adding money using the cash a check feature, be aware of the fees involved. For faster check deposits, payroll, and government checks, the fee is 1.00% (minimum $5). For other accepted check types, the fee is 5.00% (minimum $5). If you can, consider using other methods to add funds to your Venmo account without incurring these fees.

  3. Navigate Venmo Merchant Fees Wisely:

    If you're using Venmo for business transactions or charitable contributions, be aware of the 1.9% + $0.10 fee for goods and services. Additionally, for Tap-to-Pay payments, the fee is 2.29% + $0.09. While these fees might be unavoidable for some, it's always good to keep them in mind when conducting business on Venmo.

  4. Strategic Electronic Withdrawals:

    Electronic withdrawals are your friend when it comes to taking money out of your Venmo account. Standard withdrawals are free, while Instant Transfers incur a 1.75% fee (minimum $0.25, maximum $25). If time permits, opt for the standard withdrawal to save on those extra fees.

  5. Smart Transaction Planning:

    Understanding the fee structure based on transaction amounts is crucial. Sending or receiving amounts between $1.00 and $4.99 incurs a $0.49 fee, while transactions from $5.00 to $24.99 come with a $0.99 fee. Keep these rates in mind and plan your transactions accordingly to minimize fees.

  6. Consider Percentage-based Fees for Larger Transactions:

    For transactions above $1000, the fee is a percentage – either 1.80% or 1.50%. If you're dealing with larger amounts, the percentage-based fee might be more economical compared to fixed fees. Do the math and choose the option that works best for your specific transaction.

  7. Watch Out for Additional Withdrawal Fees:

    Be cautious when making over-the-counter cash withdrawals from banks and other financial institutions, as this incurs a $3.00 fee. Additionally, using out-of-network ATMs for withdrawals will cost you $2.50. Keep these fees in mind and plan your cash transactions wisely to avoid unnecessary costs.

Venmo Fees and Calculator Related FAQ's 

How much is the Venmo instant transfer fee?

Venmo instant transfer fee is 1.75% (min $0.25, max $25).

How much is the Venmo merchant/business fee?

Venmo merchant/business fee is 1.9% + $0.10.

What is the Venmo goods and services fee?

Venmo goods and services fee is 1.9% + $0.10.

Using this Venmo Fee Calculator, can I calculate Venmo Instant Fee?

Yes, you can calculate all Venmo transaction fees, including the Venmo Instant Fee.

Am I able to calculate Venmo goods and services fees?

Yes, using the Newisty Venmo Fee Calculator, you can calculate all types of Venmo transaction fees, including goods and services fees and Instant Fees.

How do I calculate Venmo fees?

Go to Newisty Venmo Fee Calculator, enter your amount, select your transaction type, and automatically you will find your Venmo fee accurately.

How much does Venmo charge to send $500?

Normally, Venmo sends money free of charge. However, if you use a credit card to send $500, the Venmo fee is $15.00.

How do I avoid Venmo fees?

To avoid unexpected Venmo fees, do not use a credit card to send money.

How much does Venmo charge for the instant transfer of $500?

Venmo charges 1.75% of $500 for Electronic withdrawal (Instant Transfer), which equals $8.75 (min $0.25 and max $25).

Can I use this tool to calculate Venmo seller fees?

Yes, you can calculate Venmo seller fees by selecting the Venmo Merchant / Seller Fees option from the transaction type dropdown.