Fees associated with P2P are typically optional and are based on the type of payment you’d like to connect or how fast you’d like to receive funds. Venmo waives their standard 3% fee for sending money when the transaction is funded with a Venmo balance, a bank balance or a debit card. The 3% fee is NOT waived when users send money from a credit card. Instantaneous transfers, which allow you to see funds within 30 minutes, incur a 1% fee (with a minimum of 25 cents and a max of $10). If you don’t need access to the funds immediately, you can do the standard bank transfer for no fee and it will be completed in 1-3 business days. Similarly, Cash App charges a 3 % fee if you use a credit card to send money, but making payments with a debit card or bank account is free. Cash App also charges a 1.5 percent fee if you request an instant transfer of funds to your linked debit card. If you request to transfer money to a bank account, the transfer is free — however, you must wait 1-3 business days for the transaction to process.