Venmo Money Transfer Review

Venmo is a peer-to-peer, or P2P, payment platform based in New York, NY. It was founded in 2009 and offers money transfers within the United States.

What money transfer methods does Venmo support?

Venmo allows you to send money to the following destinations:

• Bank accounts.
• Personal transfers without the need of a bank account

How long does it take for the money to arrive with Venmo?

Typically, money will take 1 day to arrive. However, this may vary depending on the amount, currency, and destination.

How much money can you send with Venmo?

Venmo does not have a minimum transfer amount.

The maximum amount you can send per transfer is $2,999.99.

What fees and commissions does Venmo charge?

• Venmo offers free peer to peer (P2P) money transactions. However, you may have to pay a fee if you use certain payment options, such as a credit card, or if you exceed their transaction amount limits.
• Venmo does not charge a flat processing fee. Instead the cost varies depending on the amount you transfer.
• Venmo does not charge a processing fee but you can choose to pay a premium fee to send money faster. The fee starts at $5.
• There is a processing commission of 3%. For example, on a $1,000 transfer you will pay around $30. This is just an estimate there may be other fees and commissions to consider.