Venmo and PayPal raise instant transfer fees

PayPal and Venmo are increasing fees in the coming weeks. When you use either app, someone sends you money, and then you transfer it to your bank account or debit card. You can choose the standard option, which takes one to three business days, or choose the instant transfer option for a fee. The fee on both apps was 1.5% of the amount you transferred. Now PayPal and Venmo are increasing this fee to 1.75% of the amount with a maximum of $25. Expect the new change to hit your Venmo on May 23. The increase will go into effect for PayPal users on June 17. Standard transfer fees will remain free. Click here to find out more.

PayPal and Venmo are increasing fees in the coming weeks.

When you use either app, someone sends you money, and then you transfer it to your bank account or debit card. You can choose the standard option, which takes one to three business days, or choose the instant transfer option for a fee.

The fee on both apps was 1.5% of the amount you transferred. Now PayPal and Venmo are increasing this fee to 1.75% of the amount with a maximum of $25.

Expect the new change to hit your Venmo on May 23.

The increase will go into effect for PayPal users on June 17.

Standard transfer fees will remain free. Click here to learn more.

Comments are closed.