How Easily Avoid Paying Venmo Fees
Venmo is a popular platform for sending and receiving money between peers. If you tend to use the app to split restaurant bills with friends, you may not be aware of the Venmo fees that the company charges for certain transactions. Many of Venmo's services are free, but not all, so it's easy to be surprised by unexpected transaction fees.
The best way to avoid Venmo fees is to be aware of which transactions are and are not free ahead of time. If you've been charged Venmo fees that you'd like to appeal, DoNotPay can help. Here's what you need to know about Venmo fees.
What Are Venmo's Fees In 2022?
Venmo was originally designed for friends and family to send money back and forth, and those core functions can be performed without any transaction fees. However, there are certain activities subject to fees, so it's important to know what those are. In addition, Venmo has expanded its offerings to business accounts, which always charge fees for sellers.
For individual personal accounts, these are the fees you could be charged on Venmo:
- Sending someone money with your credit card: 3%
- Using the cash a check feature to add money to your account, for payroll or government checks: 1% with a $5 minimum
- Using the cash a check feature to add money to your account, for all other checks: 5%, with a $5 minimum
- Choosing instant transfer when you make an electronic withdrawal: 1.5% with a $0.25 minimum and a $15 maximum
If you use Venmo to accept payments for your business, you'll be charged a fee for each transaction. These payments are only for sellers, not buyers. The amount is:
- Receiving a payment: 1.9% + $.0.10
In addition to its money transfer services, Venmo offers a branded Mastercard as well. If you use the credit card, these fees apply:
- Withdrawal from an out-of-network ATM: $2.50
- Cash withdrawal from a bank: $3
- Cash advances: 5% or $10, whichever is greater
- Payment late fee: $40
- Returned payment fee: $29
How to Avoid and Appeal Venmo Fees Yourself
Venmo does not have any kind of process for disputing or appealing fees unless there was fraudulent activity or an error with your account. The best way to avoid Venmo fees is to be aware of what activities come with a fee and avoid those if they're not worth the fee for you.
Personal Accounts and Credit Cards
Avoiding fees with your personal Venmo account or Venmo Mastercard is fairly easy. Opening an account and sending and receiving money is free, so you're able to use Venmo's essential features without incurring fees. These four practices will help you avoid fees.
- Choose to wait 1-3 business days to transfer money from your Venmo account to your bank account.
- Skip using Venmo's check deposit services.
- Don't use your credit card for cash withdrawals.
- Make all credit card payments on time.
Unfortunately, Venmo does not offer any way to waive or appeal its seller fees for business accounts. If you're thinking about using Venmo for your business, consider its fee structure carefully to determine if it makes sense for you and the product or service you sell.
If you believe you were charged Venmo fees because of either an error or an unauthorized transaction, you do have the ability to dispute this. There are three ways to contact Venmo to dispute these transactions and their associated fees.
- Contact customer service through the online form.
- Call contact service at 855-812-4430.
- Send a letter to: PayPal, Inc., Attn: Venmo Error Resolution Department, P.O. Box 45950, Omaha, NE 68145-0950.
Appealing Venmo fees on your own can be challenging and time-consuming, even if you're simply trying to correct an error.
Easily Appeal Venmo Fees with DoNotPay
If you're having trouble with Venmo fees, whether you'd like to contest the regular fees you've been charged or you're having difficulty getting incorrect fees removed, DoNotPay can help. DoNotPay's fast, easy and successful system allows you to appeal your Venmo fees with minimal effort on your part. Save yourself money by correcting errors and requesting that other fees be waived.
Here's how you can use DoNotPay to appeal fees:
- Search "appeal fees" on DoNotPay, choose the Fight and Waive Fees product, and select the type of fee you want to appeal.
- Select the merchant you want to appeal fees for and enter the details of your transaction, including an associated account if you have one.
- Submit your case! DoNotPay will generate the best argument for your case and make sure your fee waiver request gets sent to the merchant for processing.
And that's it! DoNotPay will send a request on your behalf to appeal all applicable fees and to ensure you get your money back!
We Help You Get Unfair Fees Waived or Refunded Fast
DoNotPay allows you to appeal fees from any company or service. Some of those include:
|eBay fees||Coinbase fees|
|Robinhood fees||Paypal seller fees|
|Spirit Airlines baggage fees||American Airlines baggage fees|
|Chase Bank checking account fees||Etsy fees|
|Homeowners Association (HOA) fees||Shopify fees|
What Else Can DoNotPay Do?
DoNotPay can also help you with a number of other issues, including:
To easily appeal Venmo fees, join DoNotPay today.
Venmo Fees — Frequently Asked Questions
How much does Venmo charge for receiving money?
Transactions among your friends and peers are completely free. However, Venmo charges a cut of 1.9% and 10 cents from every business sale transaction.
How much does Venmo charge for instant transfers?
Venmo charges a 1.75% fee for instant transfers, with a minimum fee of $0.25 and a maximum fee of $25.
Which has lower fees, Zelle or Venmo?
Zelle transfers are instant and free, with zero hidden fees. Therefore, Zelle is cheaper than Venmo.