How does Venmo handle cash advance fees for cryptocurrencies?

3 answers

• billFeb 25, 2024 · 2 years ago
  Venmo treats cash advances for cryptocurrencies differently than regular cash advances. When you use Venmo to buy cryptocurrencies, you may be subject to cash advance fees depending on your credit card issuer. These fees are typically higher than regular purchase fees and can vary depending on the issuer. It's important to check with your credit card issuer to understand the specific fees and terms associated with cash advances for cryptocurrencies on Venmo.
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• Osama Ahmed QureshiJan 19, 2024 · 2 years ago
  Venmo handles cash advance fees for cryptocurrencies in a similar way to other cash advances. When you make a purchase of cryptocurrencies using Venmo, your credit card issuer may treat it as a cash advance. This means that you may be charged a higher interest rate and additional fees compared to regular purchases. It's important to check with your credit card issuer to understand how they handle cash advances for cryptocurrencies on Venmo and what fees may apply.
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• Paul LindholmMay 21, 2022 · 4 years ago
  As an expert in the field, I can tell you that Venmo does not handle cash advance fees for cryptocurrencies directly. Venmo is a peer-to-peer payment service that allows users to send and receive money. While you can use Venmo to buy cryptocurrencies, the fees and terms associated with cash advances are determined by your credit card issuer. Venmo simply facilitates the transaction and does not have control over the fees charged by credit card issuers.
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