How does Venmo work?
Venmo works by linking with your bank account and (optionally) a credit or debit card. Transactions made with either your bank account, debit card, or with your Venmo balance are free, while a standard 3 percent fee is added to credit card transactions. You don’t need to add any money to your Venmo account, but if a friend pays you, you will need to request to withdraw those funds; that money is then typically deposited into your account the next business day. You can use Venmo with contacts, as well as with select businesses. Venmo uses encryption to keep transactions and app data secure.
The fun and easy way to send, spend, and receive money
- Make payments using your debit card, credit card, bank account, and more
- Track all your payments in one place, and split or share with Venmo friends
- Apply for a Venmo card and take Venmo shopping everywhere Mastercard® is accepted in the U.S.
A quick look at our fees
Venmo doesn’t charge for basic services like:
Sending money from a linked bank account, debit card or your Venmo balance.
Receiving/withdrawing money into your Venmo account or using our standard transfer to your bank account.
Venmo also has NO monthly or annual fees. There are some fees for premium features and other services. These are detailed below.
- Monthly fee $0
- Per purchase $0
- ATM withdrawal $0.00 in-network $2.50 out-of-network
- Cash reload N/A
|ATM balance inquiry (in-network or out-of-network)||$0|
|Customer service (automated or live agent)||$0|
|Electronic withdrawal (standard or Instant)||$0 or 1%* (min. $0.25)|
|Sending money to people (balance/debit/bank or credit)||$0 or 3%|
* This fee can be lower depending on how this account is used.
No overdraft/credit feature.
Not FDIC insured.
For general information about prepaid accounts, visit
Find details and conditions for all fees and services in the Venmo Account Long Form, which can be accessed at .
A deeper look at all Venmo account fees
|Opening and holding an account|
|Account setup||$0.00||No fee to setup an account.|
|Monthly fee||$0.00||No monthly fees.|
|Spending or sending money|
|Online purchases||$0.00||No fee for online purchases.|
|Sending money to people (using your credit card)||3%||There’s a fee for sending money to people using your credit card.|
|Sending money to people (using your balance/debit card/bank)||$0.00||No fee to send money to people using your Venmo balance, debit card, or bank account.|
|Sending money to people with purchase support (using your balance/debit card/bank)||3%||There’s a fee for sending money to people when you opt into purchase support.|
|Adding money to your balance|
|Transfer from bank account||$0.00||No fee when you link your bank and use it to add money to your Venmo account.|
|Receive money from Venmo users||$0.00||No fee for you when Venmo users send you payments with Venmo.|
|Receive merchant refund||$0.00||No fee for you when a merchant sends you a refund.|
|Transferring money from your account|
|Electronic withdrawal (standard)||$0.00||No fee to transfer money from your Venmo account to your bank account with the standard option. The money is typically available in 1-3 business days.|
|Electronic withdrawal (Instant Transfer)||1% (minimum $0.25 fee, maximum $10 fee)||There’s a fee to transfer money from your Venmo account to your eligible linked debit card or bank account with the Instant Transfer option. The money is typically available in minutes.|
|Customer service (automated)||$0.00||No fee to call our automated Customer Service line.|
|Customer service (live agent)||$0.00||No fee to call a Customer Service agent.|
|Real-time alerts||$0.00||No fee to receive real-time alerts on your phone. Standard text message & data rates may apply.|
|Account statements||$0.00||No fees for CSV copies of your account statements.|
|Transaction declines due to insufficient funds||$0.00||No fees for declines due to insufficient funds.|
|Using the Venmo Mastercard® (optional)|
|Venmo card acquisition||$0.00||No fee to get a Venmo card.|
|ATM withdrawal (in-network)||$0.00||No fees for ATM withdrawals in the MoneyPass network. Find no-fee ATMs near you at www.moneypass.com.|
|ATM withdrawal (out-of-network)||$2.50||There’s a fee for non-MoneyPass ATM withdrawals. You may be charged an additional amount by the ATM owner even if you don’t complete a transaction.|
|ATM balance inquiry||$0.00||No fee to check your balance at an ATM. You may be charged a fee by the ATM owner.|
|Over-the-counter cash withdrawal (bank and other financial institution)||$3.00||$3.00 per signature withdrawal if a signature is required to obtain cash. You can withdraw cash at the counter inside participating bank branches or other financial institutions. The fee is charged per signature withdrawal if a signature is required to obtain cash.|
|Automatic reloads (using your bank account)||$0.00||No fee for reloading your Venmo balance when your Venmo balance is insufficient to cover a purchase made with your Venmo card.|
|Card replacement||$0.00||No fee to replace your lost or stolen Venmo card.|