🇺🇸 US · Updated June 2026
Venmo Fee Calculator —
G&S, Instant Transfer & Business
See exactly what Venmo charges for goods & services payments, instant bank transfers, and business profile transactions. Use the reverse calculator to find out how much to invoice to net any target amount.
⚠️ Updated June 2026: Federal 1099-K threshold is $20,000 + 200 transactions after the One Big Beautiful Bill Act (July 4, 2025). All Venmo processing fees unchanged — G&S 2.99%, business profile 1.9% + $0.10, instant transfer 1.75%.
2.99%
Goods & services — personal account
1.9%+$0.10
Business profile rate (cheaper for $10+)
$25 max
Instant transfer cap (1.75%)
3%
Sending with a credit card (sender pays)
$
USD
G&S fee (2.99%)Seller pays — buyer pays full invoice amount
−$14.95
Fixed fee ($0.10 per transaction)Charged per payment received
−$0.10
You receive
$485.05
Venmo fee
$14.95
deducted from payout
You receive
$485.05
net in Venmo balance
Effective rate
2.99%
fee as % of invoice
Personal G&S vs Business Profile — fee comparison at common invoice amounts:
| Invoice | Personal (2.99%) | Business (1.9%+$0.10) | You save |
|---|---|---|---|
| $50 | $1.50 → receive $48.51 | $1.05 → receive $48.95 | $0.45 |
| $100 | $2.99 → receive $97.01 | $2.00 → receive $98.00 | $0.99 |
| $250 | $7.48 → receive $242.53 | $4.85 → receive $245.15 | $2.63 |
| $500 | $14.95 → receive $485.05 | $9.60 → receive $490.40 | $5.35 |
| $1,000 | $29.90 → receive $970.10 | $19.10 → receive $980.90 | $10.80 |
Business Profile is cheaper for any invoice over $9.17 — the break-even point where 2.99% × amount = 1.9% × amount + $0.10.
$
USD
Instant transfer fee1.75% of balance · min $0.25 · max $25.00
−$8.75
You receive (within minutes)
$491.25
Instant fee
$8.75
deducted from transfer
You receive
$491.25
within minutes
Effective rate
1.75%
of amount transferred
📅 Standard transfer (free): $500.00 in 1–3 business days — no fee.
Instant transfer fee at common amounts — showing when the $25 cap kicks in:
| Balance | Instant fee (1.75%) | You receive | Standard (free, 1–3 days) |
|---|---|---|---|
| $100 | $1.75 | $98.25 | $100.00 |
| $500 | $8.75 | $491.25 | $500.00 |
| $1,000 | $17.50 | $982.50 | $1,000.00 |
| $1,429+ | $25.00 ← cap | $1,404.00 | $1,429.00 |
The $0.25 minimum applies to transfers below $14.29. The $25 cap applies above $1,428.57.
$
USD
Invoice this amount
$515.41
to receive your target after Venmo fees
Venmo fee deducted
−$15.41
You receive
$500.00
Effective rate
2.99%
Invoice = $500.00 ÷ (1 − 2.99%) = $515.41
⚠️ Passing fees to clients: Most US states allow listing a processing fee on invoices. Check your state laws before adding a separate fee line. Many freelancers instead invoice the grossed-up amount — keeping the fee invisible to the client.
How Venmo Fees Work for Freelancers
When a client pays you on Venmo, the fee depends on how the payment is sent and which account type you use. The buyer always pays the full invoice amount — the fee is deducted from what lands in your Venmo balance.
Client sends payment
Buyer pays full invoice amount. No extra charge to them.
Venmo deducts fee
2.99% (personal G&S) or 1.9% + $0.10 (Business Profile) taken from your payout.
Balance credited
Net amount appears in your Venmo balance. Fee already deducted.
Transfer to bank
Standard transfer: free, 1–3 days. Instant Transfer: 1.75% (max $25).
All Venmo Fees — Reference Table
| Fee type | Rate | Notes |
|---|---|---|
| Send money (personal) — balance / bank / debit | Free | No fee for sender or recipient on personal F&F payments |
| Send money — credit card | 3% | Charged to the sender; non-waivable regardless of account type |
| Goods & Services — Personal account | 2.99% | Seller pays; buyer pays full amount; includes Purchase Protection |
| Goods & Services — Business Profile | 1.9% + $0.10 | Cheaper for invoices over $9.17; no monthly fee to set up |
| Business Profile — Tap to Pay | 2.29% + $0.09 | In-person NFC payments; higher rate than standard Business Profile |
| Instant Transfer (to bank or debit card) | 1.75% · min $0.25 · max $25 | Available within minutes; cap applies above $1,428.57 |
| Standard bank transfer | Free | 1–3 business days; always free regardless of amount |
| International transfer (to PayPal account) | 5% · min $0.99 · max $4.99 | Plus additional 3% if sender uses a credit card |
Personal G&S vs Business Profile — Which Should Freelancers Use?
Both options let you receive payments for work, but the rates differ. For most freelancers billing clients on a regular basis, a Business Profile saves money on every invoice above $9.17.
Personal Account
Goods & Services payments
2.99%
Flat percentage, no fixed component. Simpler to explain to clients — they pay full invoice, you receive amount minus 2.99%.
Best for: occasional payments, one-off clients
Business Profile
Business Profile payments
1.9% + $0.10
Lower percentage with a small fixed fee. Free to set up. Saves money on every invoice over $9.17. Includes tax reporting tools and dedicated business transaction history.
Best for: regular client invoices, ongoing freelance work
💡 Break-even point: $9.17. Business Profile (1.9% + $0.10) is cheaper than Personal G&S (2.99%) for any invoice above this amount. At $500 you save $5.35. At $1,000 you save $10.80. The Business Profile is free to create and you can switch between personal and business mode instantly.
Venmo & Taxes — What Freelancers Need to Know
Venmo is required by law to report certain payment activity to the IRS. Understanding the current thresholds helps you plan your recordkeeping.
📋 2025 Federal 1099-K threshold: $20,000 + 200 transactions. The One Big Beautiful Bill Act (signed July 4, 2025) reversed the $600 rule that was originally set to take effect. Under current federal law, Venmo will only issue you a Form 1099-K if your business payments exceed both $20,000 AND 200 transactions in a calendar year.
State-level exceptions: Some states still apply lower thresholds independently of federal law. States including Maryland, Virginia, Vermont, Massachusetts, Illinois, and others use thresholds as low as $600. If you're based in one of these states, you may receive a 1099-K even if you're well below the federal limit.
Still taxable regardless: Whether or not you receive a 1099-K, all freelance income received through Venmo is taxable. The IRS requires you to report all business-related payments on your tax return. Keep your own records of invoices paid through Venmo — don't rely on receiving a form as a reminder.
For help estimating your quarterly tax payments based on Venmo and other freelance income, see the Freelance Tax Calculator.
Frequently Asked Questions
Does Venmo charge a fee for personal transfers?
Venmo is free for personal payments sent from your Venmo balance, a linked bank account, or debit card. Fees apply in four situations: sending with a credit card (3%, charged to the sender); receiving a goods & services payment on a personal account (2.99%, charged to the seller); using Instant Transfer to a bank or debit card (1.75%, min $0.25, max $25); or receiving payments on a Business Profile (1.9% + $0.10 per transaction).
What is the Venmo goods and services fee?
When a buyer marks a payment as goods and services, Venmo charges the seller a 2.99% fee (personal account) or 1.9% + $0.10 (Business Profile). The buyer pays the full invoice amount — nothing extra. On a $500 invoice, a personal account seller receives $485.05; a Business Profile seller receives $490.40. The G&S option includes Venmo's Purchase Protection for eligible transactions.
What is the maximum instant transfer fee on Venmo?
The instant transfer fee is 1.75%, with a minimum of $0.25 and a maximum cap of $25.00. The cap kicks in at $1,428.57 — any transfer at or above that amount costs a flat $25 regardless of how large the transfer is. Below $14.29, the $0.25 minimum applies. The free standard bank transfer takes 1–3 business days and has no fee.
Personal G&S or Business Profile — which is cheaper for freelancers?
A Business Profile (1.9% + $0.10) is cheaper than Personal G&S (2.99%) for any invoice over $9.17. That covers virtually all freelance transactions. On a $500 invoice you save $5.35; on a $1,000 invoice you save $10.80. Business Profile setup is free, there are no monthly fees, and you can switch between personal and business modes from the same Venmo account.
Does Venmo report my payments to the IRS?
Under the One Big Beautiful Bill Act (July 4, 2025), the federal 1099-K threshold is $20,000 AND 200 transactions per year — Venmo only issues a 1099-K if you exceed both. However, some states (Maryland, Virginia, Vermont, Massachusetts, others) still apply a $600 threshold. All Venmo income is taxable regardless of whether you receive a 1099-K — you must report all business payments on your tax return.
Can I pass the Venmo processing fee on to my client?
Most US states allow adding a processing fee line to your invoice, but some restrict surcharging. A common approach is to use the Reverse Calculator above to gross up your invoice — to net $500 after a 2.99% G&S fee, invoice $515.41. This bakes the fee into your rate rather than listing it as a separate charge. Always check your state's laws before applying a visible surcharge.
How do I minimize Venmo fees as a freelancer?
Three strategies: (1) Set up a Business Profile — 1.9% + $0.10 saves money vs 2.99% Personal G&S on every invoice over $9.17. (2) Use standard bank transfers instead of Instant Transfer to avoid the 1.75% withdrawal fee — standard takes 1–3 business days and is always free. (3) Ask clients to pay from their balance or bank account rather than a credit card — the 3% credit card fee is charged to them, which may affect how they feel about using Venmo. For larger invoices, Stripe's ACH (0.8%, cap $5) may be more cost-effective.
Fee rates sourced from Venmo's official pricing pages and help documentation, verified June 2026. Venmo may change rates without notice — confirm current fees at venmo.com/resources/our-fees before building fees into contracts or invoices.