Venmo is free to use for its original function, which was to send and receive money from friends and associates. It's also free to use it to pay participating merchants, who now number in the millions. One word of caution: Don't use a linked credit card. Pay through your linked bank account or Venmo balance to avoid a fee. Otherwise, the merchants pay the fees. Venmo takes a cut of 1.9% and 10 cents from every business sale transaction, (Transactions among friends are free.) Venmo doesn't charge annual or monthly fees or make customers pay for basic services, including sending money from a linked bank account, debit card, or Venmo balance, There are other fees for additional services, including using Instant Transfer to send money from Venmo to a bank or depositing checks to Venmo.