Joined Nov 2012
L7: Teacher
Forum Thread
PSA - New and upcoming changes to Venmo
June 27, 2021 at
05:45 AM
Thread Details
Copied from today's email verbatim:
Hi Ron,
We're making some updates to Venmo and the Venmo User Agreement, including changes to 1) the visibility of your friends list and your visibility in other users' friends lists, 2) the Venmo Purchase Protection Program, 3) the fees charged for instant transfers, and 4) the fees charged for receiving payments that are identified by senders as for goods and services.
1) You can now select a public, friends, or private setting for your friends list, and opt out of being seen on the friends lists of other Venmo users. Review and manage your privacy controls by going to Settings > Privacy in the Venmo app.
2) Effective July 20, 2021, the Venmo Purchase Protection Program will expand eligibility for payments received into a user's business profile or that are identified as for goods and services. To be eligible for the expanded Purchase Protection Program, sellers will need to meet additional requirements described in our User Agreement.
3) Effective July 20, 2021, users who receive payments that are identified by senders as for goods and services will be charged a seller transaction fee of 1.9% + $0.10.
4) Effective August 2, 2021, the fee for instant transfers will be 1.5% per instant transfer ($0.25 minimum fee, $15 maximum fee).
As always, you can view the Venmo User Agreement, Privacy Policy, and other Venmo policies in your Venmo app Settings or by visiting Venmo.com and clicking 'Legal' at the bottom of the page.
If you have questions about any of these changes or your Venmo account, please don't hesitate to get in touch with us.
Thank you for being a Venmo customer.
Sincerely, Venmo, a PayPal service
Venmo is a service of PayPal, Inc., a licensed provider of money transfer services. All money transmission is provided by PayPal, Inc. pursuant to PayPal, Inc.'s licenses.
PayPal is located at 2211 North First Street, San Jose, CA 95131.
Please do not reply directly to this email as you will not receive a response. For assistance, please visit our help center at help.venmo.com.
Hi Ron,
We're making some updates to Venmo and the Venmo User Agreement, including changes to 1) the visibility of your friends list and your visibility in other users' friends lists, 2) the Venmo Purchase Protection Program, 3) the fees charged for instant transfers, and 4) the fees charged for receiving payments that are identified by senders as for goods and services.
1) You can now select a public, friends, or private setting for your friends list, and opt out of being seen on the friends lists of other Venmo users. Review and manage your privacy controls by going to Settings > Privacy in the Venmo app.
2) Effective July 20, 2021, the Venmo Purchase Protection Program will expand eligibility for payments received into a user's business profile or that are identified as for goods and services. To be eligible for the expanded Purchase Protection Program, sellers will need to meet additional requirements described in our User Agreement.
3) Effective July 20, 2021, users who receive payments that are identified by senders as for goods and services will be charged a seller transaction fee of 1.9% + $0.10.
4) Effective August 2, 2021, the fee for instant transfers will be 1.5% per instant transfer ($0.25 minimum fee, $15 maximum fee).
As always, you can view the Venmo User Agreement, Privacy Policy, and other Venmo policies in your Venmo app Settings or by visiting Venmo.com and clicking 'Legal' at the bottom of the page.
If you have questions about any of these changes or your Venmo account, please don't hesitate to get in touch with us.
Thank you for being a Venmo customer.
Sincerely, Venmo, a PayPal service
Venmo is a service of PayPal, Inc., a licensed provider of money transfer services. All money transmission is provided by PayPal, Inc. pursuant to PayPal, Inc.'s licenses.
PayPal is located at 2211 North First Street, San Jose, CA 95131.
Please do not reply directly to this email as you will not receive a response. For assistance, please visit our help center at help.venmo.com.
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