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Rossen Reports: Venmo and PayPal increasing instant transfer fees

Rossen Reports: Venmo and PayPal increasing instant transfer fees
Hey, welcome to Rawson. In 60 Venmo and Paypal are increasing fees. I'm going to break down the new numbers and all I need is 60 seconds or less. We have *** clock up here. Let's start it when using either app, someone sends you money and then you transfer it to your bank account. You can choose the instant transfer where your money gets sent to you right away for *** fee Or the free standard one, which takes about 1- three days. The fee on both apps, Venmo and paypal, it used to be 1.5% of the amount you were transferring. Now The apps, both of them are increasing that fee to 1.75% of the amount. There's *** cap. The maximum fee is $25 expecting you change to hit your Venmo on May 23 and flip the calendar for paypal, you're going to see the hike on June 17. But there is good news here to the standard transfer the one I use. It'll still be free. That's all for today. Back to you.
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Rossen Reports: Venmo and PayPal increasing instant transfer fees
PayPal and Venmo are increasing fees in the coming weeks. When using either app, someone sends you money and then you transfer it to your bank account or debit card. You can choose the standard option, which takes one to three business days, or you choose the instant transfer option for a fee. The fee on both apps used to be 1.5% of the amount you were transferring. Now PayPal and Venmo are increasing that fee to 1.75% of the amount with a maximum fee of $25. Expect the new change to hit your Venmo on May 23.The increase will go into effect for PayPal users on June 17. The standard transfer fee will remain free. Click here to learn more.

PayPal and Venmo are increasing fees in the coming weeks.

When using either app, someone sends you money and then you transfer it to your bank account or debit card. You can choose the standard option, which takes one to three business days, or you choose the instant transfer option for a fee.

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The fee on both apps used to be 1.5% of the amount you were transferring. Now PayPal and Venmo are increasing that fee to 1.75% of the amount with a maximum fee of $25.

Expect the new change to hit your Venmo on May 23.

The increase will go into effect for PayPal users on June 17.

The standard transfer fee will remain free. to learn more.