Online Money Transferring Company to Up Fees
I love things like Venmo and Pay Pal. I will be the first to say my generation really doesn't carry cash. That's not a "millenials ruin (insert anything)" moment, it is due to the fact that paying people nowadays is extremely more convenient.
I use the Venmo app alot. It's easy to split a bill or buy someone drinks, even pay rent.
Venmo has announced that it will be increasing fees on instant transfers soon.
Users could see a fee of 1% of the amount being transfered, up from a flat fee of $.25 before.
This fee will be applied to instate transfer only. Regular transfers will be free, but can take a few business days to hit your account.
These new fees will go into effect on November 6th.