How Much Money Can Be Venmoed? All Transaction Limits

Venmo is a widely used mobile payment service, simplifying how individuals send and receive money. It allows quick, digital transactions between friends, family, and authorized businesses. This platform streamlines bill splitting, service payments, and fund exchanges, making financial interactions more accessible.

Standard Venmo Transaction Limits

Venmo implements transaction limits to maintain security and adhere to federal financial regulations. These limits vary based on a user’s account status, specifically whether their identity has been verified. For unverified accounts, a weekly spending limit of $299.99 applies to all person-to-person payments and purchases made through the platform. Additionally, unverified accounts are limited to transferring $999.99 per week to a linked bank account. Exceeding these limits will result in a declined transaction, preventing further transfers until the rolling weekly limit resets.

When a user’s identity is verified, Venmo substantially increases these foundational limits. Verified accounts generally have a weekly rolling limit of up to $60,000 for sending funds, which includes person-to-person payments. Within this overall sending limit, person-to-person payments often have a specific weekly cap of around $4,999.99 to $15,000. Combined purchases, encompassing online checkouts, in-app payments, and transactions using the Venmo Debit Card, typically fall under a separate weekly limit of up to $7,000. Transfers from a Venmo balance to a linked bank account for verified users can reach up to $19,999.99 per week, though individual instant transfers may be capped at $5,000.

Increasing Your Venmo Limits

Users can significantly increase their Venmo transaction limits by completing an identity verification process. This verification is a requirement mandated by federal law, such as the USA PATRIOT Act, which compels financial services to implement Customer Identification Programs (CIP) to combat financial crimes like money laundering and fraud. By verifying identity, Venmo enhances the security of its platform and protects users’ funds.

The process typically involves providing specific personal information within the Venmo app. Users navigate to the “Me” tab, then “Settings,” and select “Identity Verification.” Required information usually includes a full legal name, date of birth, physical address, and the last four digits of a Social Security Number (SSN) or Individual Taxpayer Identification Number (ITIN). In some cases, users may also be asked to upload a clear image of a government-issued identification document, such as a driver’s license or passport, to further confirm their identity. Once submitted, Venmo reviews the information, often completing the process within minutes, though it can take longer depending on verification volume.

Specific Feature Limits

Beyond the general person-to-person and bank transfer limits, Venmo also applies specific transaction caps to its specialized features. The Venmo Debit Card, for instance, has distinct spending and withdrawal limits. Cardholders can spend up to $2,999.99 per purchase, with a daily purchase limit of $3,000 and a weekly purchase limit of $7,000. For cash access, the daily ATM withdrawal limit for the Venmo Debit Card is $400, which includes over-the-counter withdrawals and cashback transactions at point-of-sale. This ATM limit resets every 24 hours.

Purchases made with Venmo through authorized merchants generally fall under the same weekly combined purchase limit as the Venmo Debit Card, typically up to $7,000 for verified accounts. Venmo’s Direct Deposit feature, which allows users to receive paychecks or other payments directly into their account, typically has a per-deposit limit of up to $5,000. While some sources suggest no strict overall limit for direct deposits, amounts exceeding $10,000 may trigger additional verification requirements. The “Cash a Check” feature allows users to deposit physical checks into their Venmo balance, with limits generally set at $5 to $5,000 per check, a daily maximum of $5,000 across multiple checks, and a monthly limit of $15,000.