PSA: Found a way to skip wire transfer fees using Venmo business profiles

I needed to send $3,800 to a contractor in Austin last week and my bank wanted $45 for a wire. I set up a Venmo business profile with a free QR code and sent it as a goods payment for $0 - just had to put "invoice #12" in the memo. Has anyone else tried this workaround or found a cheaper method?

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angelafisher7d ago

Austin, Texas contractor took me for a ride too before I found this trick. It's amazing how banks and payment apps quietly profit from fees we just accept as normal, but once you start looking, you see the same pattern everywhere from ATM fees to car dealership add-ons. Probably just a matter of time before Venmo cracks down on people using business profiles for personal payments, but for now it's a good reminder to question every little charge.