Venmo has evolved from a simple app for splitting dinner bills to a robust platform where people buy and sell items every day. Whether you are selling concert tickets, buying furniture from a neighbor, or running a registered business, knowing the costs is a must for budgeting.

In this article, we break down exactly what the Venmo Goods and Services fees are for different account types, how to calculate them, and how the Purchase Protection works for buyers and sellers.

What is Venmo Goods and Services Fee?

The Venmo Goods and Services fee is a percentage deducted from a transaction when a payment is identified as a commercial purchase. This fee is automatically deducted from the total amount the recipient receives.

Unlike a standard peer-to-peer transfer, this fee covers the cost of processing and providing Purchase Protection for the transaction.

Venmo Fee Structure Table

Venmo applies different fees depending on whether you are using a Personal profile, a Charity profile, or a Business profile.

How To Calculate Using Our Calculator?

Math shouldn’t get in the way of your business. Our tool allows you to instantly see your fees and profit margins based on the rates above.

Here are the simple steps to use it:

1. Select Your Option: Choose between "Seller (Receiving)" if you want to see what you will pocket from a sale, or "What to Charge" if you want to calculate the total price you need to request to cover the fees.
2. Enter the Amount: Type the transaction value into the box.
3. View the Results: The Fee Breakdown and your final calculation result will automatically show up, giving you the exact numbers you need.

Do I get charged as a buyer?

Generally, no. As a buyer, you do not pay the Goods and Services fee.

If you are buying a couch for $100 and you turn on the "Goods and Services" toggle, exactly $100 will be taken from your Venmo balance or bank account.

The Exception:
If you choose to fund the payment using a credit card, you may be subject to Venmo’s standard 3% fee for sending money using a credit card. However, this is separate from the Goods and Services fee paid by the seller.

Do I get charged as a seller?

Yes. The seller (or the recipient of the funds) is the one who pays the Goods and Services fee. Venmo deducts this fee from the payment before it hits your balance.

Example (Personal Profile):

• You sell a jacket for $100 using your personal account.
• The buyer marks the payment as "Goods and Services."
• Venmo deducts the 2.99% fee ($2.99).
• $97.01 is added to your Venmo balance.

Example (Business Profile):

• You sell a service for $100 using your Business Profile.
• Venmo deducts 1.9% + $0.10 ($2.00).
• $98.00 is added to your Venmo balance.

What is Venmo Good & Services Purchase Protection?

You might be wondering, "Why would I want to pay a fee?" The answer is security.

When the Goods and Services fee is paid, the transaction is covered by Venmo’s Purchase Protection Program. This is vital for transacting with people you do not know personally.

For Buyers, it covers you if:

• You pay for an item, but never receive it.
• The item arrives, but it is significantly different than described (e.g., you bought a brand new phone, but received a cracked one).
• The item arrives damaged or missing parts.

For Sellers, it protects you against:

• Claims from buyers stating they didn't authorize the transaction.
• Claims that the item wasn't received (provided you can supply proof of shipment/delivery).

How can I raise a dispute as a buyer or seller?

If a transaction goes wrong, the first step is always to message the other party to try and resolve it amicably. If that fails, you can formally dispute the transaction through Venmo.

Steps to raise a dispute:

1. Open the Venmo App and go to the "Me" tab (single person icon).
2. Tap on the transaction you want to dispute.
3. Tap "Need Help?"
4. Select "Contact Us" or "Dispute this Transaction."

You will be required to provide evidence, such as screenshots of the item description, tracking numbers, or chat logs with the other party.

How to claim a refund?

It is important to note that Venmo does not offer a simple "Cancel" button for completed payments. Once the money is sent, it is in the recipient's account.

There are two ways to get a refund:

1. Ask the Recipient: If you sent money by mistake or the seller agrees to a refund, they can simply send the money back to you as a new payment.
2. File a Purchase Protection Claim: If the seller refuses to refund you and the item was marked as "Goods and Services," you must follow the dispute process mentioned above. If Venmo rules in your favor, they will reverse the transaction and refund the money to your account.