Venmo Instant Transfer Fee Calculator [2022]

Venmo Instant Transfer Fee Calculator

Venmo allows you to transfer money from your Venmo balance to a linked debit card or bank account instantly. 

You can use Venmo Instant Transfer Fee Calculator to help you calculate how much money you’ll pay in fees when you make a transfer this way.

Entering the total transfer amount (including fees) will give you an estimate of the amount of money that will be charged for your Venmo instant transfer.

Venmo Instant Transfer Fee Calculator Tool 👇

The calculator below automatically calculates the fees you will incur when you transfer money from Venmo to your linked bank account or debit card.

Also see: Venmo Goods & Services Fee Calculator | Seller Fees Calculator

How to Use Venmo Instant Transfer Calculator🧮

The instant transfer feature allows users of Venmo to transfer money from their Venmo accounts directly to eligible bank accounts or Visa/Mastercard debit cards, typically within 30 minutes of initiating the transaction. If you can wait for a few days “1-3 biz days“, there is no fee associated with transferring your funds. 

Enter the amount you wish to transfer from your Venmo balance to your bank account. The 

instant transfer fees will be deducted from the transfer amount and only the net amount will be credited to your account.

Venmo charges a 1.75% fee when you transfer money via instant transfer. The minimum fee is $0.25 and fees cannot exceed $25 per transaction.

For example, the Venmo instant transfer fee for sending $1000 to your bank account is $17.50. However, if you use the standard bank transfer option, there are no fees charged irrespective of the amount.

Once you enter the total transfer amount, the instant transfer fee will be calculated automatically. You can also confirm this on the Venmo app while attempting the transfer.

The actual transfer amount is the net amount that will be transferred to your bank account after deducting instant transfer fees.

How to make Instant Transfers on Venmo? 💵

If you’re on the Venmo app, tap “Add or Transfer” under your profile picture in the “Me” tab. Then, choose whether to transfer money using the Standard or Instant method.

There is no way to expedite a standard bank transfer. Once you request the transfer, your money leaves Venmo’s system, and your bank receives it for processing.

Standard bank transfers are free, but they use the ACH banking process, which can take one to three business days for an electronic transfer to reach your bank account.

If you’d like to move the money from your Venmo account into your bank account more quickly, consider the Instant Transfer feature. 

You can only make an instant transfer to a U.S. bank account or Visa/Mastercard debit card that participates in instant transfer services (like Visa Fast Funds or Mastercard Send).

Transferring money from your account

Electronic withdrawal (standard)$0.00No 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)Until May 23, 2022: 1.5% (minimum $0.25 fee, maximum $15 fee)

Effective May 23, 2022: 1.75% (minimum $0.25 fee, maximum $25 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.

How do I know if I have an eligible bank account or card for Instant Transfer on Venmo?

To determine if your bank account or debit card can be used for instant transfers, add it to your Venmo account. 

If the bank account or debit card you added is listed as a payment method but greyed out when you try to make an instant transfer, your bank does not currently participate in the instant transfer service.

How do I check on the status of my instant transfer? 

When you initiate an instant transfer, a green check mark will appear to confirm that the transfer has started. When the transfer completes, you will receive an in-app notification.

If you still see a pending transfer in your app, wait at least 30 minutes before checking your bank account statement to ensure the deposit has been processed.

What is the limit on bank transfers on Venmo?

If you have verified your identity with Venmo, your bank transfers will be limited to $19,999 per week ($5,000 per transfer). 

The limit will be reduced to $999.99 if you have not verified your identity.

Wrapping it up: 

So, that’s all in this article. Use our Venmo Instant Transfer Fee Calculator to calculate how much money you’ll pay in fees when you make an Instant Transfer on Venmo.

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