- PayPal and Venmo will be rolling out changes in the coming weeks to Instant Transfer fees for both consumers and merchants.
- These pricing changes will be effective for Venmo customers on May 23, 2022 and effective for PayPal customers on June 17, 2022.
In the coming weeks, we will be making changes to our Instant Transfer pricing structure for U.S. consumers and merchants, on both PayPal and Venmo.
We continue to understand how important it is for PayPal and Venmo customers to have flexibility when accessing their money. That’s why we offer options like Instant Transfer, so customers can choose to transfer their money instantly to a bank account or debit card for a fee, as well as Standard Bank Transfers, so customers who can wait a few days can transfer their money for no fee, which will typically arrive within 1-3 business days.
Instant Transfer is a benefit we provide customers outside of Standard Bank Transfers, and we’re making some changes to be more in line with the value we provide.
For personal accounts on PayPal and consumer and business profiles on Venmo, users will pay 1.75% of the transfer amount, with a minimum fee of $0.25 USD and a maximum fee of $25 USD. For PayPal merchant accounts, we will maintain the existing rate of 1.5% of the transfer amount, change the minimum fee to $0.50 USD, and remove the existing $15 USD cap in place of a new, no-maximum-fee cap structure. These pricing changes will be effective for Venmo customers on May 23, 2022. The pricing changes will be effective for PayPal customers on June 17, 2022.