Venmo review

Venmo is the most complete app on this list for the everyday job of paying friends back. You can send money, request it, schedule payments and split a group expense inside the app, and Venmo says payments can reach U.S. PayPal accounts as well as other Venmo users. Sending from your Venmo balance, a debit card or a bank account costs nothing, receiving a personal payment costs nothing, and there is no monthly fee. The costs appear when you want speed or credit: paying with a credit card adds 3%, and an Instant Transfer to your bank or debit card costs 1.75% with a $0.25 minimum and a $25 maximum, while the standard option is free and usually lands in 1 to 3 business days. Sellers should know that payments tagged as goods and services carry a 2.99% fee. Venmo also offers a debit card with free ATM withdrawals at MoneyPass machines in the US. It is a US-only service, so it does not help with friends abroad.

Who it is for

Friends, roommates and groups in the US who split dinners, rent and trips every week.

Price

$0 to pay friends from balance, debit card or bank; 3% by credit card; Instant Transfer 1.75% ($0.25 min, $25 max).

There’s a 3.00% fee for sending money to a Venmo account or U.S. PayPal account using your credit card.
Quoted from the vendor pricing page on November 10, 2026.

Key features

• Pay friends, schedule payments and split group expenses in the app
• Send to Venmo and U.S. PayPal accounts at no fee from balance, debit card or bank
• Standard withdrawals to a bank at no fee, typically in 1 to 3 business days
• Optional Instant Transfer for 1.75%, with a $0.25 minimum and $25 maximum
• Venmo Debit Card with no-fee ATM withdrawals in the MoneyPass network

Strengths and weaknesses

• Strength: Group expense splitting is built into the app
• Strength: No monthly fee and no fee to receive personal payments
• Strength: Payments reach U.S. PayPal accounts as well as Venmo users
• Weakness: Credit card funding costs 3%
• Weakness: Payments marked as goods and services cost the seller 2.99%
• Weakness: Instant Transfer to your bank is a paid option

Key facts

• Monthly fee: $0
• Send from bank, debit or balance: $0
• Send by credit card: 3%
• Instant Transfer: 1.75% ($0.25 min, $25 max)
• Owner: PayPal, Inc.

Where it ranks

Venmo is No. 1 in our Best Payment Apps verdict.