Venmo doesn't require you to create a new account to sell goods. The Wall Street Journal reported that Venmo has changed its policies so that you can sell goods and services from your personal account, provided you are willing to pay the same 1.9% plus 10 cents fee as for business users. This change will take effect July 20th.A toggle will allow you to indicate whether money transfers are intended for business. A spokeswoman for Venmo stated that any payments marked with this toggle will be eligible for Venmo’s purchase protection plan.Personal accounts were used for daily tasks such as splitting bills or receiving pandemic stimuli checks. Although some people have used their personal profiles for business purposes, you could be banned from the account.Venmo could not have chosen this route. It's growing in popularity in the US, with close to 70 million accounts registered by PayPal. Even if only a small fraction of users use the accounts to make sales, it could be a significant increase in revenue. You won't need to manage multiple accounts to use the account for your everyday business.
