Use our Venmo fee calculator to quickly and accurately calculate Venmo transaction fee on any type of Venmo transaction you want to make.
Whether you are looking for Venmo instant transfer fee calculator, Venmo fees calculator, Venmo goods and services fee calculator, Venmo transfer fee calculator, Venmo business fee calculator, or Venmo Cryptocurrency fee calculator you can use our all in one Venmo calculator below to calculate Venmo transfer fee.
| Total Money Sent | Fees | Amount You'll Receive |
|---|---|---|
| - | - | - |
Venmo Fee Calculator For All Transactions
Venmo has become a popular platform for transferring money, making payments, and managing finances. However, with various transaction types and fees involved, it can be challenging to keep track of your expenses.
This is where the Venmo Fee Calculator comes in handy. It helps users estimate the fees associated with different transactions, allowing them to make informed financial decisions.
In this guide, we’ll explore different types of transactions and their Venmo fees, along with examples to illustrate how the Venmo fee calculator can help you.
Types of Transactions and Associated Fees
Sending Money to People
When sending money to people, the fee structure depends on the payment method used. For instance, if you use a credit card to send $100, the Venmo fee calculator indicates that you’ll be charged a 3% fee, amounting to $3.In this case, the recipient will receive $97.
However, if you use your balance, bank, or debit card for the same transaction, there won’t be any fees, and the recipient will receive the full $100.
Online Purchases
Online purchases or sending money to people using your Venmo balance, bank, or debit card doesn’t incur any fees. For example, if you make a purchase of $50 online using your Venmo balance, the entire amount will be deducted, and no additional fees will apply.
Adding Money Using Cash a Check Feature
When adding money using the cash a check feature for faster check deposits, fees vary depending on the type of check. For payroll and government checks, a 1% fee applies, with a minimum of $5.
For instance, if you deposit a payroll check of $500, the fee would be $5, and you’ll receive $495 in your account. For all other accepted check types, a 5% fee applies, with a minimum of $5.
If you deposit a personal check of $200, the fee would be $10, and you’ll receive $190 in your account.
Receiving Payments (Venmo Merchant Fees)
Receiving payments for goods and services, whether in your business profile, charity profile, or payments identified as for goods and services, incurs a fee of 1.9% + $0.10.
For example, if your business receives a payment of $150 for goods sold, the Venmo business fee calculator shows a fee of $2.95 ($150 * 1.9% + $0.10), and you’ll receive $147.05 in your account.
Electronic Withdrawals
For electronic withdrawals using Instant Transfer, a fee of 1.75% applies, with a minimum of $0.25 and a maximum of $25. The Venmo transfer fee calculator can help determine the fee for your transaction.
For example, if you initiate an instant transfer of $1,000, the fee would be $17.50, and you’ll receive $982.50 in your account. However, for standard electronic withdrawals, there are no fees.
Buying or Selling Cryptocurrencies
Fees for buying and selling cryptocurrencies with Venmo vary based on the value of the crypto being bought or sold.
For instance, if you purchase $20 worth of cryptocurrency, the fee would be 99 cents, and you’ll spend a total of $20.99.
If you sell $300 worth of cryptocurrency, the fee would be $5.40 (1.8% of $300), and you’ll receive $294.60.
The Venmo Fee Calculator helps you calculate the Venmo transfer fee associated with buying or selling cryptocurrencies, ensuring you have a clear understanding of the costs involved.
ATM Withdrawals
For out-of-network ATM withdrawals, a $2.50 fee applies. For example, if you withdraw $100 from an out-of-network ATM, the fee would be $2.50, and you would only receive $97.50. It’s essential to consider these fees when withdrawing cash to avoid unexpected charges.
Over-the-counter Cash Withdrawals
A $3.00 fee is applicable for over-the-counter cash withdrawals at banks and other financial institutions. If you withdraw $200 over-the-counter, the fee would be $3, and you would receive $197 in cash.
Using the Venmo Fee Calculator
Inputting amount: To use the Venmo Fee Calculator, start by inputting the amount you want to send or receive. This will be the basis for calculating the fees associated with the transaction.
Selecting the transaction type: Next, select the transaction type from the available options, such as sending money, receiving payments for goods and services, or making an instant transfer. This will help the calculator determine the appropriate fees for your specific transaction.
View the results: Once the necessary information has been entered, the calculator will display the results,
- Total money sent: This is the original amount you entered.
- Fees: This shows the fees associated with the transaction based on the selected transaction type.
- Amount received: This indicates the net amount the recipient will receive after deducting the fees.
Automatic computation and updates
The Venmo Fee Calculator automatically computes and updates the results as you change the input values or transaction types. This ensures that you always have the most accurate information at your fingertips.
Tips and Best Practices
Understanding transaction fees: To make the most of the Venmo Fee Calculator, it’s crucial to understand the various fees associated with different transaction types. Familiarize yourself with the fee structure for sending money, receiving payments, and other transactions to ensure you’re using the calculator effectively.
How to minimize fees: To minimize fees, consider using your Venmo balance, bank, or debit card for transactions whenever possible, as these methods often have lower or no fees. Additionally, opt for standard transfers instead of instant transfers to avoid extra charges.
Use our calculator for informed decision-making: Let assume you want to get paid for a service, and your client has agreed to pay the charges on a transaction, you can use the Venmo fees calculator to calculate the fee on the amount they want to send so they can add it as extra on the fee. The Venmo Fee Calculator is an invaluable tool for making informed decisions
TLDR
The Venmo Fee Calculator is an essential tool for users who want to stay informed about the fees associated with various transactions.
By using this calculator, you can easily estimate the costs of sending money, making purchases, receiving payments, withdrawing cash, and buying or selling cryptocurrencies.
Whether you’re using the Venmo instant transfer fee calculator, Venmo goods and services fee calculator, or Venmo business fee calculator, being aware of the fees involved in your transactions will help you make smarter financial decisions