Just saw the fee breakdown on a $12 venmo transfer and my jaw dropped

I sent my buddy $50 for pizza last night and noticed Venmo took $0.75 just for using a credit card. Checked their website and it says that 3% fee adds up to like $1.2 billion in revenue for them last year. Anyone else think twice now before linking a card?

2 comments

2 Comments

noah91714d ago

Read a piece recently that said Venmo made something like $1.3 billion off those 3% fees alone last year. That's a lot of pizza money getting skimmed off the top. Makes you wonder why they push linking your bank account so hard, huh. Guess free money for them is better than free transfers for us.

ross.angela12d ago

Those fees make their "free" app a billion dollar scam.