The sliding fee scale is a change that patrons who move large sums of will want to take notice of. For example, a $50 transfer will now cost you $.50 in , while a $00 transfer will short you ten bucks.

The convenient Transfer option, which is available 4 hours a day 365 days a year and only takes about thirty minutes to complete is quite appealing. It works with debit cards that are a part of Visa̵;s Fast Funds or Mastercard̵;s Send services, and users can check their card̵;s eligibility by adding it to their account. Unless the card is greyed out, the card will work with Instant Transfer.

While news of the increase in Instant Transfer fees might not please the most prolific Venmo users, the good news is that standard to verified bank accounts (which take one to three business days) will remain free. Another option to avoid the uptick in Instant Transfer fees is Venmo’s physical debit card — but who wants to deal a card when you’re doing digital payments?

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