What Is the Venmo Payment Protection Fee and How Does It Work?
Learn about the Venmo payment protection fee, its cost, and when it applies to your purchases from authorized merchants.
78 views
The Venmo payment protection fee is applied when you make a purchase using Venmo to buy goods or services from authorized merchants. This fee is typically 1.9% of the transaction amount plus 10 cents. It ensures you receive assistance and refunds if something goes wrong with your purchase. For personal transactions with friends or family, this fee does not apply.
FAQs & Answers
- When does Venmo apply the payment protection fee? Venmo applies the payment protection fee when you purchase goods or services from authorized merchants using Venmo. This fee does not apply to personal payments sent to friends or family.
- How much is the Venmo payment protection fee? The Venmo payment protection fee is typically 1.9% of the transaction amount plus 10 cents per transaction.
- What does the Venmo payment protection fee cover? This fee provides coverage that assists you in getting refunds or support if something goes wrong with your purchase from authorized merchants.
- Is there a fee for sending money to friends on Venmo? No, the payment protection fee does not apply to personal transactions when sending money to friends or family.