What is The Venmo Limit Daily, Weekly, And Monthly to Send Money?

Venmo, a popular mobile payment service, allows users to send money to friends and family quickly and conveniently. However, like any financial service, Venmo has limits on the amount of money you can send. These limits are in place to prevent fraud and ensure the security of transactions.

What Is Venmo Person To Person Limit?

Venmo’s person-to-person limit refers to the maximum amount of money you can send to another Venmo user within a specific timeframe. This limit is applied to the total amount of money you can send and receive in transactions with other Venmo users.

Venmo Daily Limit

The Venmo daily limit for person-to-person transactions is $300 for unverified accounts. However, once you verify your identity, this limit increases to $5,000 per week, with a rolling daily limit.

Venmo Weekly Limit

For unverified accounts, the weekly limit is the same as the daily limit, $300. After verification, the weekly limit for sending money to other Venmo users is $20000.

Venmo Monthly Limit

After completing identity verification on Venmo, users are able to send up to $60,000 per month. This increased limit allows for more flexibility and convenience in managing larger transactions, making it especially useful for users who frequently use Venmo for significant payments or transfers. It’s important to note that this limit is subject to Venmo’s terms and conditions, and transactions may still be reviewed or declined based on various factors, including security concerns and compliance with regulatory requirements.

Venmo Withdrawal Limit

The withdrawal limit for Venmo refers to the amount of money you can transfer from your Venmo account to your linked bank account. The standard withdrawal limit is $999.99 per week for unverified accounts and $19,999.99 per week for verified accounts.

What Is Venmo Instant Transfer Limit

Venmo Instant Transfer limits vary depending on whether you have completed identity verification for your business profile. Here are the details:

Before Identity Verification:

Weekly Payment Limit: You can send up to $2,499.99 from your business profile per week.

Weekly Bank Transfer Limit: You can transfer up to $999.99 to your bank account per week.

After Identity Verification:

Weekly Payment Limit: You can send up to $25,000 from your business profile per week.

Weekly Bank Transfer Limit: You can transfer up to $49,999.99 to your bank account per week.

Per-Transaction Limit for Instant Transfers: For Instant Transfers to your debit card, there is a limit of $10,000.00 per transaction. For Instant Transfers to your bank account, the limit is $50,000.00 per transaction.

What is The Maximum Venmo Transfer Limit?

The maximum Venmo transfer limit for users who have completed identity verification is $60,000 per week. This limit applies to the total amount you can send to other Venmo users within a seven-day period.

In addition to this transfer limit, there is also a $7,000 weekly limit on combined purchases, which includes:

Using your in-store QR code: You can use your Venmo QR code to make payments at participating retailers.

Using Venmo at checkout online: Some online merchants allow you to pay with Venmo at checkout.

Using Venmo in other apps: You can use Venmo as a payment method in other apps that support it.

It’s important to note that payments sent to other users on Venmo count toward this $7,000 purchase limit. Additionally, your payments may be declined for reasons other than reaching these limits, such as security concerns or issues with the recipient’s account.

Are there any limits for using my Venmo Debit Card?

There are specific limits for using your Venmo Debit Card. These limits are in place to ensure the security of your transactions and to comply with regulatory requirements. Here are the main limits you should be aware of:

Per Purchase Limit: You can spend up to $2,999.99 on a single purchase with your Venmo Debit Card.

Daily Purchase Limit: Your total spending with the Venmo Debit Card cannot exceed $3,000.00 in a day. This daily limit resets at 12:00 AM Central Time (CT) each day.

Weekly Purchase Limit: Over a seven-day period, you can spend a maximum of $7,000.00 with your Venmo Debit Card.

ATM Withdrawals, Over-the-Counter Withdrawals, and Cash Back Limit: You can withdraw up to $1,000.00 per day from ATMs, over-the-counter at banks, or as cash back from merchants. This limit also resets daily at 12:00 AM CST.

Transaction Limit: You are allowed up to 30 transactions per day with your Venmo Debit Card. This limit resets daily at 12:00 AM CST.

How To Increase Venmo Limit?

To increase your Venmo limit, you need to verify your identity. This process involves providing Venmo with certain personal information, such as your Social Security number, date of birth, and address. Once your identity is verified, your sending limits will be increased.

How To Venmo Identity Verification?

To verify your identity on Venmo, follow these steps:

1. Open the Venmo app and tap the menu icon (three horizontal lines) in the top-right corner.
2. Tap “Settings” and then “Identity Verification.”
3. Follow the prompts to enter your personal information, such as your Social Security number, date of birth, and address.
4. Venmo may also require additional documentation to verify your identity, such as a photo of your driver’s license or passport.
5. Once you have submitted all the required information, Venmo will review your details and notify you when your identity has been verified.

Is Venmo Identity Safe?

Venmo takes the security of its users’ personal information seriously. The app uses encryption to protect your data and has various security measures in place to prevent unauthorized access. However, as with any online service, it’s essential to use a strong, unique password and enable two-factor authentication for added security.

Conclusion

Understanding Venmo’s person-to-person sending limits is crucial for managing your transactions effectively. By verifying your identity, you can increase these limits and enjoy more flexibility in sending money to friends and family. Always ensure that your Venmo account is secure by using strong passwords and enabling two-factor authentication.

FAQs

Can I increase my Venmo limit beyond $4,999.99 per week?

No, the maximum limit for sending money to other Venmo users after verification is $4,999.99 per week.

How long does it take for Venmo to verify my identity?

The identity verification process can take a 2–3 business days. Venmo will notify you once your identity has been verified.

Is there a fee for sending money on Venmo?

Sending money using your Venmo balance, bank account, or debit card is free. However, there is a 3% fee for sending money using a credit card.

What happens if I reach my Venmo sending limit?

If you reach your sending limit, you will not be able to send more money until the limit resets. For weekly limits, the reset occurs on a rolling basis, seven days after each transaction.

Can I use Venmo for business transactions?

Yes, Venmo offers a business profile option for users who want to accept payments for goods and services. However, different limits and fees may apply to business transactions.

Is it possible to send money internationally with Venmo?

Currently, Venmo does not support international transactions. Both the sender and receiver must be physically located in the United States.