<p>Fees for instant transfer of funds on Venmo and PayPal are both increasing in May and June. </p>
<p>Instant Transfer allows customers to transfer their money instantly to a bank account or debit card for a fee. With Standard Bank Transfers, customers who can wait a few days can transfer their money for no fee, which will typically arrive within 1-3 business days. </p>
<p>Instant Transfer fees are going up on both Venmo and PayPal, which are both owned by PayPal Inc.</p>
<p>For personal accounts on PayPal and consumer and business profiles on Venmo, users will pay 1.75% of the transfer amount, with a minimum fee of $0.25 USD and a maximum fee of $25 USD. </p>
<p>For PayPal merchant accounts, the company will maintain the existing rate of 1.5% of the transfer amount, change the minimum fee to $0.50 USD, and remove the existing $15 USD cap in place of a new, no-maximum-fee cap structure. These pricing changes will be effective for Venmo customers on May 23, 2022. The pricing changes will be effective for PayPal customers on June 17, 2022.</p>

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