Venmo Pricing Plan & Cost Guide

Venmo

Digital wallet & mobile payment gateway

4.76/5 (6,773 reviews)

Venmo Pricing

Pricing model: Free

Contact Venmo for detailed pricing information.

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Venmo Pricing Reviews

Pros

  • You can't like anything better than receiving money instantly through an app. The software is easy to use and fun.Mike I.Read the full review
  • I really like the ease in sending my friends and family money when we want to split the cost of purchasing something. It’s nice to not have to use my checkbook.Sarah L.Read the full review
  • The thing that I love most about this software is that there is absolutely no charge to have it. It gives my clients a reliable, secure and easy checkout once their services have been completed.Jennily S.Read the full review

Cons

  • The one major problem I have with Venmo is there’s no real way to get in touch with anyone and you can’t stop a payment by accident if you made one.Lindsay G.Read the full review
  • I understand from security reasons, but it is annoying. Apparently it is possible now, but has been a pain to figure out.Verified ReviewerRead the full review
  • If you are really desperate for the money immediately, then you have to pay a small percentage.Derek T.Read the full review
98%
recommended this to a friend or a colleague

25 reviewers had the following to say about Venmo 's pricing:

Michael W.

Venmo allows me to pay my contractors and freelancers easily and efficiently

Used weekly for 1-2 years
Reviewed 2021-04-30
Review Source: Capterra

Venmo is invaluable. It is quicker, cheaper and overall better than most other quick payment processors and no one who uses it on my team has ever had a complaint about the service.

Pros
Venmo has allowed me to manage my payments to my contractors and freelancers easily and efficiently. Most everyone has Venmo these days, and the payment processor allows me to stay on top of my partners' payments without worry. The prices are great, and the transactions are incredibly quick.

Cons
I wish there were a few better options for exporting payment data into other platforms that would allow me to better audit payments and keep track.

Rating breakdown

Value for money
Ease of use
Features
Customer support

Likelihood to recommend: 10/10

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Anonymous

Fast And Low Cost Way of Managing Money

Used daily for 6-12 months
Reviewed 2019-10-13
Review Source: Capterra

I am an end user of this product and it made making and receiving payments so fast and cheap.

Pros
It's so easy to get paid and pay with Venmo. Sending and receiving is at no extra cost, which I love. It's a very seamless process. If I want, I can send the money to my bank account as well but I rarely feel the need to do that. The QR code makes it so fast to make a payment. I can split the bill with my friends at a dinner party which makes it so hassle-free.

Cons
While it's not a big deal, they could support cryptocurrencies. I really hope they start working internationally because I want to be able to use this anywhere.

Rating breakdown

Ease of use
Features

Likelihood to recommend: 9/10

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Allison T.

Venmo is my preferred app for paying friends and family

Used daily for 1-2 years
Reviewed 2021-09-09
Review Source: Capterra

Overall Venmo is easy, cheap, and widely accessible for paying friends and family.

Pros
Venmo is perfect. It is easy to use and everyone has it so it is easy to use to exchange cash for many different reasons with many different people.

Cons
I’m not a fan of the social aspect, I’d rather not see what people are paying each other for.

Rating breakdown

Ease of use
Features

Likelihood to recommend: 10/10

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Keith M.

A Wonderful Addition

Used weekly for 2+ years
Reviewed 2021-08-30
Review Source: Capterra

Venmo has been a great addition to our company. In an increasingly-cashless society, being able to collect payments in any form is vital to long term success. Venmo gives us the ability to offer yet another payment option for our client base.

Pros
Venmo lets us collect payments virtually without having to have a card present or have an employee on-site. We have been able to expand our services and run more efficiently by adding Venmo as a payment option. In a business model that was initially designed to take all payments in person, this has allowed us to expand by offering convenient payment options for our clients and their families.

Cons
Venmo collects a fee for their service, which we decided not to pass on to our customers. However, the low cost of using their services is well worth it for the value it provides.

Rating breakdown

Value for money
Ease of use
Features

Likelihood to recommend: 9/10

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Tim L.

easiest money transfer app

Used weekly for 2+ years
Reviewed 2021-04-06
Review Source: Capterra

In my opinion Venmo beats out Zelle as its a little easier to use, and the limits aren't as strict as zelle.

Pros
Great and easy to use, QR code feature for paying strangers is great, also the request money function is awesome. I would highly recommend setting up ACH bank transfers as those are free to transfer from venmo to your bank which is a nice option to have if you don't need the money right away you don't have to pay the 1% fee.

Cons
the instant tranfers are a little expensive, it would be nice if those were free, but the ACH transfer is a cheaper alternative if you can wait a couple of days for your money.

Rating breakdown

Value for money
Ease of use
Features
Customer support

Likelihood to recommend: 10/10

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Kunal P.

Great for small business

Used weekly for 2+ years
Reviewed 2021-04-06
Review Source: Capterra

I love the product again 10/10 so I would recommend to many small business owners

Pros
I use this software to help reimburse my employees quickly. It’s great simple and cheap. I give it 10/10

Cons
I have no major cons of this software. It is a great product that I enjoy using very much. I wish I could transfer money Quickly without paying

Rating breakdown

Value for money
Ease of use
Features
Customer support

Likelihood to recommend: 10/10

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Jake M.

Venmo is getting there!

Used monthly for 1-2 years
Reviewed 2020-08-09
Review Source: Capterra

It’s great I always have been able to get my money that’s been sent or I’ve always been able to send money on it very easily if I’ve ever had to take money out then I usually just transfer my balance to another money app because it’s cheaper than pulling out of an ATM with my Venmo card

Pros
I like that people can still send me money if they don’t have cash app or PayPal because they use Venmo. It’s a pretty straightforward money app to use although the fees are a little high for pulling money out

Cons
Apart from the fees being a little expensive it’s not as popular of an app as cash app or PayPal I don’t like that not everyone has Venmo

Rating breakdown

Value for money
Ease of use
Features

Likelihood to recommend: 7/10

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Owen W.

Not well business optimized

Used occasionally for 2+ years
Reviewed 2021-04-24
Review Source: Capterra

I've used Venmo to get paid as a freelancer because I like giving clients the payment options but unlike Paypal or Stripe there aren't good tools for invoicing or giving itemized receipts.

Pros
Fast, easy to use, no transaction fees if you're using the consumer facing side of the app and far cheaper than PayPal or Stripe for businesses.

Cons
Fees are lower due to Venmo payments only being made through the Venmo app using Venmo balance or direct bank transfer. Not a good way to accept credit cards.

Rating breakdown

Value for money
Ease of use
Features

Likelihood to recommend: 7/10

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Stephen W.

Tha absolute best way to get paid!

Used daily for 1-2 years
Reviewed 2019-09-21
Review Source: Capterra

Customers can easily pay me directly from their bank accounts or debit cards without even having to swipe. its very secure and everyones information is held securely, so there is never any chance for fraud.

Pros
Venmo is easy to use for people at all levels. It is incredibly intuitive and virtually anyone can learn to use it within minutes. It is a trusted solution for small business and individuals all across the globe. Its also a great way to split a dinner check with a friend, buy concert tickets or buy things online from people using peer to peer.

Cons
There really isn't anything to not totally love about venmo. Its cheap and easy to use with a very high trust rating.

Rating breakdown

Value for money
Ease of use
Features
Customer support

Likelihood to recommend: 10/10

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Ryan H.

Venmo 1st

Used weekly for 2+ years
Reviewed 2021-06-12
Review Source: Capterra

I will always use benno in my business as my 1st choice to send or receive money

Pros
This app is the one that I use the most and my customers trust the most I have never had a problem with security receiving or sending money to anyone.

Cons
I wish imediate transfer of funds did not cost money or take up to 3 days I wish I was just immediate for a lower price

Rating breakdown

Value for money
Ease of use
Features
Customer support

Likelihood to recommend: 8/10

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Tiffany C.

Venmo for me!

Used weekly for 2+ years
Reviewed 2018-12-28
Review Source: Capterra

My overall experience has been amazing. I can transfer the money into my account immediately. It emails me to let me know the transaction has been completed. I use it a few times a week for endless reasons.

Pros
I love how user friendly it is. They sing to the millennials by letting you write a public (or private) response to the person you are charging or receiving money from. You can also see your friends' responses on their transactions as well (if they choose public).

Cons
It does charge you roughly 1% to do an instant deposit I do believe. Overall, it is cheaper and more convenient than multiple other paying platforms.

Rating breakdown

Value for money
Ease of use
Features
Customer support

Likelihood to recommend: 10/10

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Thomas R.

Venmo makes instant transfers easier and more enjoyable

Used weekly for 2+ years
Reviewed 2020-08-19
Review Source: Capterra

P2p payment is simplified and basically instantaneous

Pros
Im a huge fan of the low fee % they charge when doing business transactions. Much more easier than navigating older providers such as square and most importantly, a lot less “expensive”

Cons
The only thing I would say is difficult when using Venmo is switching between business accounts and personal accounts. I feel like everyone is use to using venmo for personal finance transactions and sometimes forget to use their business dedicated account.

Rating breakdown

Value for money
Ease of use
Features
Customer support

Likelihood to recommend: 10/10

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Gabby S.

So easy & convenient to use!

Used weekly for 2+ years
Reviewed 2021-04-19
Review Source: Capterra

Venmo is great! I love using the app and sending and receiving money.

Pros
I love just the ease of being able to send and receive money. It makes it so convenient, and feels safe to use.

Cons
There is a charge to take out money and to send money sometimes, but it is no different than other platforms and is a bit cheaper than some.

Rating breakdown

Ease of use
Features
Customer support

Likelihood to recommend: 10/10

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Lauren W.

Making money transfer easy and accessible

Used weekly for 2+ years
Reviewed 2021-05-25
Review Source: Capterra

I have experienced a 100% success rate with sending and receiving payments and believe that as the network of users grow, it will become a more valuable experience

Pros
What I like most about this software is the Low cost easy payments that are fast and include end to end transparency

Cons
What I like least about this software is that not everyone is using it so it only works for the existing network

Rating breakdown

Ease of use
Features

Likelihood to recommend: 10/10

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Mike M.

Easy to use for repaying people

Used weekly for 2+ years
Reviewed 2021-09-09
Review Source: Capterra

Great experience, the only downside is the weak support. But that makes sense considering how popular Venmo is.

Pros
This is the easiest app for repaying people when going out, uber, rent, expenses, etc. I pretty much exclusively use Venmo since it's cheap (basically free) and easy to use with most of my friends having an account.

Cons
The new design/app is more confusing, I preferred the previous version.

Rating breakdown

Value for money
Ease of use
Features
Customer support

Likelihood to recommend: 10/10

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James R.

A great peer-to-peer payment software/app!

Used monthly for 2+ years
Reviewed 2021-04-06
Review Source: Capterra

Easy to use, low instant-deposit cost and super commonly used by people. Wish the desktop experience was better, but the mobile app is just fine.

Pros
It's so easy to set up and get using and the other HUGE benefit is that EVERYONE has it. That makes it easy to adopt as a payment app.

Cons
They have some funny daily spend limits that made it hard to pay rent via Venmo once but I just split it into two payments and was able to make it work just fine.

Rating breakdown

Value for money
Ease of use
Features
Customer support

Likelihood to recommend: 10/10

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Teylor y.

VENMO IS IMPRESSIVE

Used weekly for 1-2 years
Reviewed 2020-12-16
Review Source: Capterra

Venmo is a great tool to use in a business that deals with small tips and bonuses. We like using it for instant rewards as well. It is quick and user friendly.

Pros
Our company really likes using Venmo because it is a relatively cheap and effective way to send tips to our housekeepers. I personally have used Venmo for 2 years and our company has been using it for 2 months and we love it.

Cons
There are not cons with Venmo, I would say that the only issue we've had was app needing an update. This is not an issue though, you have to update all apps.

Rating breakdown

Value for money
Ease of use
Features
Customer support

Likelihood to recommend: 10/10

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Kitty W.

Venmo is the go to mobile payment app

Used weekly for 2+ years
Reviewed 2019-12-13
Review Source: Capterra

Overall, venmo is a great app to use for transferring money with low cost. I always use it between my friends, and recommend to those who doesn't use it.

Pros
I have been using venmo for 3 years and still using because of how easy it is to use and transfer money to my friends. For a good period of time, I used venmo to pay for my rent! it made things easier as I didn't need to go to bank and cash out, but instead just transfer it to my landlord. Venmo is also super fast when transferring! they offer same day transfer for only 1% fee, which is amazing! I love venmo!

Cons
The least thing I like about venmo is the fact that they have a limit amout of transferring money. Which is around 2k dollars per week and sometimes I need to transfer more than that and I can't because the app does not allow me.

Rating breakdown

Value for money
Ease of use
Features
Customer support

Likelihood to recommend: 10/10

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Anonymous

Great way to send money!

Used weekly for 2+ years
Reviewed 2020-11-06
Review Source: Capterra

Great so far other than the price raises. I love using this app for paying anyone back.

Pros
I love how fast and intuitive this app is. I have used it for years and helped me transition to cash. I love how easy it is to find friends profiles as well.

Cons
I don't like the price fluctuation for bank transfers. It used to be quick to transfer without paying but sadly now the free has slowed down quite a bit just to sell the faster option.

Rating breakdown

Value for money
Ease of use
Features
Customer support

Likelihood to recommend: 9/10

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Francisco R.

Great money app

Used weekly for 2+ years
Reviewed 2021-05-19
Review Source: Capterra

I am very satisfied and I've been using it for more than 3 years. I would recommend it!

Pros
It is very easy to use, you need to link up your bank accounts or cards. Load up your phone library and that is it. Friends can send you money and you can send them money. Transfers (to your bank) fees are very cheap and money shows up instantly. I even have their debit card.

Cons
Honestly, there is not much bad to say about this software. Maybe only bad thing is that the only way it works it's on a mobile app and not through their website.

Rating breakdown

Value for money
Ease of use
Features

Likelihood to recommend: 10/10

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Molly M.

Personal/Professional Venmo Use

Used weekly for 2+ years
Reviewed 2019-07-16
Review Source: Capterra

Pros
Venmo is very easy to use, it's free to transfer money to/from a checking account, and low cost to use a credit card as payment. It's great that you can request and remind people to pay you.

Cons
There is a small fee to use a credit card as a form of payment, and when using Venmo for work purposes that means an extra charge to the company card. It is also difficult to get a receipt/proof of payment.

Rating breakdown

Value for money
Ease of use
Features

Likelihood to recommend: 10/10

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Anonymous

Venmo Let’s You send Mo

Used occasionally for 1-2 years
Reviewed 2021-04-27
Review Source: Capterra

Overall Venmo let’s you send more. Because the cost is low and it’s quick and easy to set up. I have not once had any unexpected negative es come from using this and there is no other competitor that can compete

Pros
The ease of use and cost. You won’t find anything as simple and easy. First of its kind that has no hidden costs, which I love.

Cons
I don’t like that the user information is available for others to view. Financial information should be private and if you aren’t aware you won’t know to hide who you send and receive money from is available to view publicly unless you yourself change the settings.

Rating breakdown

Value for money
Ease of use
Features
Customer support

Likelihood to recommend: 10/10

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Diego C.

Convenience of Venmo

Used weekly for 2+ years
Reviewed 2020-10-07
Review Source: Capterra

Been using it for years and nothing bad about it. Easy to find people, receive and send money. The direct deposit is also really easy and instant!

Pros
I really like the convenience of sending and receiving money. Direct deposit is really instant and fairly priced.

Cons
No complaints from me about the software. Haven’t came across anything that bothers me, all fairly easy to use.

Rating breakdown

Value for money
Ease of use
Features
Customer support

Likelihood to recommend: 10/10

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Miguel F.

Convenient, Practical, & Easy to Use!

Used daily for 2+ years
Reviewed 2019-12-17
Review Source: Capterra

The ease of use and practical nature of this software makes it a no brainer for SMB owners and service providers. Not only have I used this software in my professional life, but also use it in my personal life to pay babysitters, hairstylists, or split a restaurant bill among friends.

Pros
As a provider of service and a SMB owner, cash flow (liquidity) is KING! So the ability to collect funds and get paid for your service so quick and easy is a life saver. You no longer have to hear the excuse "I forgot my wallet at home" or "I'll drop a check in the mail", yuck! Sending and receiving funds could not be easier. Thank you Venmo for all that you do!

Cons
I've yet to come across an aspect of the software that I am not fond of. The free bank transfers hit my account very fast and the instant payment is such a low cost. Not complaints here.

Rating breakdown

Ease of use
Features

Likelihood to recommend: 10/10

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Addisen J.

Great back up for payment

Used weekly for 2+ years
Reviewed 2020-04-16
Review Source: Capterra

Great experience. Great option to have in your back pocket.

Pros
I like this software because if I have a sub or an employee that needs to get paid right away, I can pay them through Venmo and then record it later on my payroll.

Cons
I like everything about this software. It is easy to use. My only issue was receiving payment quicker and that is now fixed. Credit card payments for commercial use at a cheaper fee would be a good route to take in the future. I use other methods for that now.

Rating breakdown

Value for money
Ease of use
Features
Customer support

Likelihood to recommend: 10/10

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