Venmo Fee Calculator

How to Use the Venmo Fee Calculator

This guide will walk you through the steps to utilize the Venmo Fee Calculator effectively. This tool will help you estimate the fees associated with using Venmo for different transaction types and transfers.

Step 1: Enter the Transaction Amount

• Locate the input field labeled Transaction Amount ($).
• In this field, input the dollar amount of the transaction you wish to complete. The amount must be at least $0.01, and you can enter it with up to two decimal places.

Step 2: Select the Payment Type

• Find the dropdown menu labeled Payment Type.
• Select the appropriate option:
  • Personal Payment: Choose this if the transaction is not associated with the sale of goods or services.
  • Goods and Services: Select this option if the transaction involves purchasing or selling online goods or services.

Step 3: Choose the Transfer Speed

• Navigate to the dropdown menu labeled Transfer Speed.
• Choose between:
  • Standard (1-3 business days): This option incurs no additional transfer fee but requires a waiting period.
  • Instant Transfer: Opt for this if you prefer to receive funds instantaneously, understanding a fee will be applied.

Step 4: Review the Calculated Fees and Final Amount

• Once you’ve entered all necessary inputs, review the following auto-calculated fields:
• Service Fee: This is calculated based on your selected payment type. For Goods and Services payments, a fee of 1.99% + $0.10 is applied.
• Instant Transfer Fee: If selected, this fee will be either 1.5% of the transaction amount or a minimum of $0.25.
• Total Fees: The sum of the Service Fee and Instant Transfer Fee (if applicable).
• Final Amount You’ll Receive: This represents the transaction amount minus the total fees. It shows the net amount you’ll receive post transaction.

By following these steps, you can accurately gauge the fees involved and understand how much you will receive from your Venmo transactions.