What is the weekly limit for venmo

Last updated 4th Oct 2022

If you’ve considered using Venmo for your peer-to-peer cash transfers, you might have wondered “How much money can you send on Venmo?” As of 2021, Venmo has emerged as one of the most popular money-sending apps on the market, with more than 80 million users.

The service makes it quick and simply to securely send and receive money from a range of different people. However, you will need to adhere to the Venmo limits when it comes to how much you can spend. Like with most online wallets, your Venmo transfer limits will depend on various factors, such as whether you’ve verified your identity within the app.

Here’s everything you need to know about the Venmo spending limit.

The Venmo Daily Limit

Most Venmo spending limits are implemented on a weekly basis. However, if you’re using the Venmo Mastercard Debit Card, you will have limitations on how much you can spend each day. For instance:

• ATM withdrawals, cashback, and counter withdrawals: $400 per day

• Daily purchases: $3,000 per day

• Transaction limit: 30 per day

All of these limits reset automatically at 12:00am CST each day.

There’s no specific Venmo daily transfer limit, but there are limitations on how much money you can withdraw each week, depending on your identity verification status.

The Venmo Weekly Limit

Most Venmo transfer and spending limits are managed on a weekly basis. The amount you can spend, send, or transfer in any given week will depend first on whether you’ve verified your identity. If you haven’t completed an identity verification with Venmo, you’ll have a weekly Venmo limit of $299.99 for all person-to-person payments and transactions with authorized merchants.

You can increase your weekly spending limit by verifying your identity, which will raise your maximum spend to $60,000 per week. However, your maximum payment on Venmo may be affected by other factors. For instance, for Venmo Mastercard transactions, you can only spend up to $6,999.99 per week.

The Venmo weekly sending limit and spending restrictions are implemented on a “rolling” basis. This means a transaction will count against your overall weekly limit for exactly 7 days from the time the payment is authorized. For instance, if you purchase something at 11:05am on a Tuesday, the transaction will count against your limit until the same time the following Tuesday.

What Is the Venmo Withdrawal Limit?

The amount of money you can withdrawn from a Venmo account to a bank account varies based on your identity verification status as well. If you haven’t confirmed your identity, you can only send a maximum of $999.99 per week to your bank (based on security checks).

You can increase your Venmo max transfer per day or week by verifying your account. Once you confirm your identity, you can transfer up to $19,999.99 per week to your bank. However, you can only send up to $5,000 in a single transaction.

Are There Any Other Venmo Amount Limits?

When you’re checking your Venmo spending limit and transfer restrictions, it’s also worth looking at the other limitations Venmo places on payments. For instance:

• Adding funds: The Venmo send limit for adding funds to your account from your bank is $1,500 per week for standard accounts, or $500 per week for debit cardholders with the option to use the “Instant Add Money” feature.

• Cryptocurrency limits: If you’re using cryptocurrency, the maximum you can send on Venmo in one week is $20,000. There’s also a $50,000 limit on purchases within a 12-month period for cryptocurrency.

• Minimum limits: Users can only make instant transfers from Venmo to their bank account for transfers costing $0.26 or more.

Venmo Mastercard users also have “reload” limits which are specific to their individual accounts. Reloads allow users to automatically deduct money from their bank account and withdraw it into their Venmo account when attempting to make a purchase on a Venmo card.

Managing Your Venmo Limit

Most of the account limits on Venmo are based on a weekly recurring set of limitations. This means there aren’t a lot of specific “daily limits” for transfers. The easiest way to increase your Venmo limits per day, and send more money via the app is to verify your identity. You can do this by visiting your account and following the instructions given by Venmo.

It’s always great when you can move money from one place or person to another with just a few taps on a screen. But even then, business capacity, government regulations and a number of factors may limit how much you can transfer and hold during a certain timeframe.

In this article we’re going to take a closer look at the Venmo daily transfer limit, as well as the limits on other services provided by Venmo.

Venmo payment limits

Before completing the verification process, your weekly spending limit will be 299.99 USD — which includes payments both person-to-person and to authorized merchants. Once the verification is completed, the overall weekly spending limit will change to 6,999.99 USD across the following transaction types:

• Person-to-person payments
• Online payments
• In-app purchases
• Venmo debit card transactions
• In-store purchases

Please remember that for person-to-person payments, both the per-transaction and maximum weekly limit stand at 4,999.99 USD. Venmo debit card purchases and payments to authorized merchants each have a per-transaction limit of 2,999.99 USD¹.

Learn more

Sending limits

Venmo has limits on the amount of money you can send, but this depends on two major factors. Firstly, the limit will vary according to whether you’re just sending to another person or to a merchant.

Additionally, when you make one transaction, that amount is deducted from your weekly limit and the remainder is the maximum you can send within this period. If an entire week goes by after that one transaction, Venmo counts afresh meaning your weekly limit is restored to the usual one.

Bank transfer limits

Transactions that involve money moving from or into your bank account are subject to bank transfer limits.

On the table below you will find these limits across different types of transactions.

There’s also a minimum of 0.26 USD for instant transfers. You can use the standard bank transfer option if you’re moving less than 0.25 USD. A transfer stops eating into your limit as soon as it’s a week old.

Limits for adding money into your Venmo balance

If you’ve been approved for a Venmo debit card, you can add money to your balance straight from a verified bank account. These transfers usually take 3-5 business days — keep in mind that you may have to occasionally factor in weekends and public holidays, depending on when the transfer was initiated.

There’s a weekly rolling limit of 1,500 USD when it comes to transferring money to your Venmo balance³.

Venmo debit card limits

Venmo offers a physical debit card powered by MasterCard which you can use to spend the money in your Venmo account.

You can also set it up in such a way that Venmo draws from your chosen funding source if the money you have available on your account account isn’t enough for the payment you’re trying to make.

Sending money to someone else? Meet Wise

Wise is a cheap, quick and easy way to move your money around. Being it within the US, or outside. They use the mid-market rate and show upfront what the fees are, so there aren’t any surprises on how much you’re paying for your transactions!

You can also hold your money in more than 50 different currencies and spend it with the Wise debit card.

Below you can find your sending and spending limits with Wise:

It really pays to have a money transfer service like Venmo that gives you considerable flexibility in how you move money to and from your bank account, make purchases and pay other people.

That being said, if you’re looking into making international payments or wish for more flexible limits, you should consider using an alternative service provider, such as Wise.

Sources:

1. Venmo - Payment limits
2. Venmo - Bank transfer limits
3. Venmo - Adding money to your Venmo balance
4. Wise - USD transfers

Sources checked on 06.30.2021

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