Instant Transfer is an expedited version of PayPal’s Standard Bank Transfers.Įarlier this week, Venmo debuted its #VenmoU “Finals Giveaway” of $500,000, letting students earn money as they keep up their schooling. “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 one to three business days.” “We continue to understand how important it is for PayPal and Venmo customers to have flexibility when accessing their money,” PayPal said in the release. The announced changes will take effect for Venmo customers May 23 and for PayPal customers June 17. PayPal merchant accounts will retain the existing rate of 1.5% of the transfer amount, change the minimum fee to 50 cents and remove the existing $15 cap for a no-maximum-fee cap structure, the release stated. Personal accounts on PayPal and consumer and business profiles on Venmo will pay 1.75% of the transfer amount with a minimum fee of 25 cents and a maximum fee of $25. consumers and merchants on PayPal and Venmo, according to a Thursday (April 21) press release. PayPal has announced plans to change the fees related to its Instant Transfer offerings for U.S.

Venmo fees