Venmo is a popular peer-to-peer payment platform that allows users to send and receive money quickly. However, the platform has Venmo transaction limits that users must adhere to. Understanding these limits can help you plan your transactions efficiently, whether you're sending money to friends, paying for goods and services, or withdrawing cash.
Venmo does not explicitly define a daily limit, but transactions are restricted by Venmo weekly limits. However, if your transactions exceed a certain amount within a short period, Venmo may temporarily restrict further payments for security reasons.
For unverified accounts, the Venmo weekly transaction limit is $299.99. If you verify your identity, the limit increases significantly. For verified accounts, the combined spending limit is $6,999.99 per week across all transactions, including payments to friends, authorized merchants, and Venmo debit card purchases.
The maximum amount you can transfer depends on your verification status. If you have a verified account, your maximum transfer limit is $6,999.99 per week. This includes both peer-to-peer payments and purchases from authorized vendors.
For bank transfers, Venmo sets different limits based on the transfer type:
Instant Transfers: You can send up to $5,000 per transaction and up to $10,000 per week.
Standard Transfers: No strict limit, but subject to Venmo's discretion and the receiving bank's policies.
If you are making purchases with your Venmo Debit Card, your spending limit is $6,999.99 per week. However, purchases from certain merchants may have lower limits based on their policies.
If you are paying a friend or sending money to a business account, the maximum amount per transaction is $4,999.99, as long as your weekly total remains within the $6,999.99 limit.
For those who frequently transfer money to their bank accounts, the limits vary:
Instant Transfers: Maximum of $5,000 per transfer and $10,000 per week.
Standard Transfers: No strict cap, but transfers beyond a certain amount may require additional verification.
The total Venmo spending cap for verified users is $6,999.99 per week, while for unverified users, the limit is significantly lower at $299.99 per week.
Maximum Venmo Payment Limit
The maximum Venmo payment limit is $4,999.99 per transaction, but total payments within a week cannot exceed $6,999.99 for verified users.
Venmo allows users to withdraw cash from ATMs using the Venmo Debit Card. The ATM withdrawal limits are:
$400 per day
This limit also applies to over-the-counter withdrawals at banks.
While Venmo does not set an official venmo daily limit, users should note that frequent transactions may trigger fraud prevention measures, leading to temporary account restrictions.
Venmo Maximum Payment Limit
The maximum amount per single payment on Venmo is $4,999.99, but this counts toward the $6,999.99 weekly limit. For business accounts, Venmo may offer customized limits depending on transaction volume.
If you need a higher Venmo limit, follow these steps:
Verify Your Identity: Provide your full name, date of birth, Social Security Number (SSN), and address to Venmo.
Use Venmo Consistently: Active users with a good history may receive higher limits over time.
Contact Venmo Support: If you require higher limits for business transactions, you can request an increase.
Venmo is a convenient and efficient platform for sending money, but knowing its limits can help you use it effectively. By verifying your identity and understanding the maximum transfer amounts, you can optimize your transactions and avoid unexpected restrictions.
