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Venmo Business vs Personal: Know the Difference [2024]

Venmo Business vs Personal: Know the Difference [2024]

Venmo Business vs Personal: Digital payments are the new way of welcoming technology into day-to-day lives. It surely eases the work of counting spare coins, notes and keeping cash 24×7 available when you head out.

Before digital payments, it was a great hassle and in emergency cases, the money problem gets worse. But thanks to the technology which keeps us ahead of the past.

Today we can pay with just one click directly from the bank account even without visiting the bank personally. Fund transfers, payments, keeping a record of savings, and checking the accounts have now been a second consuming work.

And this technology has given birth to many platforms which offer different types of payment experiences to their consumers and the industry of peer-to-peer payments is now emerging.

Hence, in this article, we are going to have a deep discussion on the digital payment platforms which is namely Venmo Business and Venmo Personal. If you are confused about what Venmo is, don’t worry we are here to help you out.

By the end of the article, you will get a good idea and a detailed picture of what is Venmo Business and what is Venmo Personal with their unique differences to jot down.

Venmo Business

Venmo Business vs Personal

When we hear the word business it’s a clue. So, Venmo Business is made for small businesses and shopkeepers, sellers for using its payment platform.

Its main target audience is the business community from merchants, retailers, and all. It offers easy payment options for them to help them grow financially strong and make hassle-free payments via Venmo.

Venmo is the child of PayPal hence it is safe and gives 100% security amongst performing payments of huge amounts.

Venmo Business also has the Business Profile feature which allows you to conduct sales through Venmo Business Account and earn transactions and customers from free advertising add ons.

Venmo Personal

Venmo Personal hints at the feature and target audience for which it is built via name kept. Venmo Personal is for personal use for payments, transfer of amounts, and so on.

To use Venmo Personal features, an individual should have a Venmo Personal Account registered via application within two-three clicks and ticks.

In general, Venmo offers personal accounts and business profiles to make digital payments and track them from time to time. Venmo Personal also allows payments through debit cards and credit cards.

Venmo Business vs Personal: Fees

ParticularsVenmo BusinessVenmo Personal
For purchases done online via Braintree or Paypal3.49%+$0.49 per transactionUpto 3% per transaction
For purchases through Venmo App1.9%+0.10$ per transaction1.9% + $0.10 per payment

Venmo Business vs Personal: Pros & Cons

Venmo Business: Pros and Cons


  • It has no interchange fees via credit card use.
  • It works best with mobile compatibility and gives hassle-free usage of features without the requirement of other hardware devices. ‘
  • It also has a feature of low transaction fees.
  • It also facilitates sellers with the social marketing tools for free which is built-in with the app.
  • It initiates contactless payments for merchants, customers, sellers, and much more.


  • To use the payment options, customers need Venmo accounts.
  • Sales taxes are applicable.
  • Customer management tools are limited.
  • Tools for reporting are also limited.
  • For integration, fees are charged on a high base.
  • For large businesses, the transaction limits can be the biggest con to deal with.

Venmo Personal: Pros and Cons


  • Its security is power-backed with PayPal getaway.
  • It offers seamless payments services to every customer.
  • Works the same as parent PayPal and allows the same sites to accept payments too.


  • Privacy has the issue of sharing payment history pubically.
  • The website doesn’t still have payment access for paying people.
  • It doesn’t allow international payments yet.
  • Protection for the payments is still a doubt.
  • Scams are noted for the same app. 

What is the difference between Venmo Personal and Business?

Venmo Business is more suitable for small businesses, vendors, shopkeepers, merchants, businesses, and much more.

It gives hassle-free transactions through retailers and small businesses. Venmo business also offers marketing tools to do so.

Whereas, Venmo Personal doesn’t have any marketing tools, or reporting or customer management features. The transaction limit of Venmo Personal is kept minimal compared to Venmo Business Profiles.

Venmo Personal is more sort of individual or personal account management where individuals use it for personal transactions, savings, and much more.

Final Words

If we look for more features like marketing tools and so on, Venmo Business is for you. But if we need to connect debit and credit cards for the payment then Venmo Personal wins.

Privacy can be secured in some cases and can be risky in other cases. Venmo offers payment via the app, Paypal, and Braintree gateway but may also share the payment history with the world which can be risky.

Venmo still is underrated for the features and does need improvement in the context of sales taxes and much more. But a huge separate population makes money and sells through Venmo today.

So the decision of choosing between Venmo Personal and Venmo Business is totally on what requirements you need to fulfill through this digital payment platform.

Venmo Alterntives: 5 Payment Apps like Venmo For Safe Transfers

Can I use my personal Venmo for business?

It is strictly not allowed according to Venmo's Privacy policy. From the personal account, the payments for merchants, commercial, and business transactions for huge capital amount is not allowed.
Hence, Venmo Business is the only option to carry out payments for business.

Can a nonprofit use Venmo?

Currently, Venmo is only made for pure business transactions and personal transactions. It doesn’t support non-profits for any kind of services for the current platform scenario.

Can you have two Venmo accounts?

Yes. Venmo does allow its users to have two different Venmo accounts or joint accounts for the family via the same bank account or different bank accounts.

What company owns Venmo?

In today’s date, Venmo is being parented by PayPal and Braintree which initiates payment gateways of Venmo and provides power back transaction securities.

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