How much does Venmo charge a seller?
It depends on how you are paid. When someone pays your personal account and marks the payment as goods and services, Venmo charges a seller transaction fee of 2.99%. Venmo’s fee page lists no fixed part for it. A payment to a business profile costs 1.9% + $0.10, or 2.29% + $0.09 when you take it in person with Tap to Pay.
On a $100 payment that is $2.99 for goods and services, $2.00 on a business profile and $2.38 with Tap to Pay. Personal payments between friends that are not marked as goods and services carry no fee.
Personal account or business profile: which costs less?
The business profile has a lower rate but a fixed $0.10 on top. The two cost the same at about $9.17. Below that a goods and services payment costs less; above it the business profile wins, and the gap grows with the price. On a $20 payment the fees are $0.60 and $0.48; on $500 they are $14.95 and $9.60.
What does Venmo Instant Transfer cost?
Moving your balance to your bank with the standard transfer is free and usually takes one to three business days. Instant Transfer sends it in minutes for 1.75% of the amount, at least $0.25 and at most $25. Moving $10 costs $0.25, $500 costs $8.75, and any amount from about $1,429 up costs the $25 most. Tick the box in the calculator to add it.
What if a customer pays with Venmo on my website?
Then the payment runs through PayPal’s checkout, and PayPal’s US fee table applies: 3.49% + $0.49 for “Pay with Venmo”. A $50 order costs $2.24. That is more than a goods and services payment, so compare the two for your own prices. See our PayPal fee calculator for PayPal’s other rates.