There are two main ways to calculate Venmo Instant Transfer fees: Complete Guide How to Calculate Venmo Instant Transfer Fees
1. Use an online Venmo Instant Transfer Fee Calculator tool:
This is the simplest method. There are several online calculators available that can help you determine the fee for your specific transfer amount. While I cannot directly access these tools, one option is a Venmo Instant Transfer Fee Calculator tool: Venmo Instant Transfer Fee Calculator.
Here’s how to use an online calculator:
Visit the website of a reputable Venmo fee calculator tool.
Enter the amount you want to transfer.
The calculator will display the estimated instant transfer fee.
2. Calculate the fee manually:
If you prefer not to use an online tool, you can calculate the fee yourself using the following formula:
Fee = max(0.25, min(25, transfer amount * 0.0175))
Source: https://help.venmo.com/hc/en-us/articles/115015844068-Instant-Bank-Transfer-FAQ
Here’s a breakdown of the formula:
max(0.25, …): This ensures the fee is never less than $0.25 (the minimum fee).
min(25, …): This ensures the fee is never more than $25 (the maximum fee).
transfer amount * 0.0175: This calculates the base fee as a percentage of the transfer amount (1.75%).
For example, if you want to transfer $10, the calculation would be:
Fee = max(0.25, min(25, 10 * 0.0175))
Fee = max(0.25, 0.175)
Fee = $0.25 (since 0.25 is greater than 0.175)
Therefore, the instant transfer fee for a $10 transfer would be $0.25.
Important Note: Standard transfers to your bank account using Venmo are free, but they take 1–3 business days to complete.
