It's the classic maneuver. Hook 'em, then hike 'em. [Photo: iStock] By Arianne Cohen 2 minute Read Venmo users received an unexpected email this week titled "New and upcoming changes to Venmo." The mobile payment service, which is owned by PayPal, wants you to know that it will begin charging fees on common transactions: "Goods and services" transactions will now cost sellers 1.9% plus 10 cents beginning July 20. The transactions were previously free (though credit card transactions had a 3% fee). Instant money transfers from a Venmo account to a bank or debit card account will be charged 1.5% (25 cent minimum, $15 maximum) beginning August 2. The prior fee was 1%. Slow transfers, which typically take 1-3 business days, are still free. PayPal has long included a "goods and services" option, which is a major revenue generator. Sellers use it because transactions only receive purchase-protection benefits if they are marked as "go...
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