What Is the Limit for Venmo Transactions?

Venmo is a popular platform for exchanging money between individuals and businesses. Understanding its transaction limits is important for managing financial activities. These limits impact how much money can be sent, received, or transferred, and knowing them helps users avoid payment issues.

Understanding Standard Transaction Limits

Venmo implements transaction limits for security and regulatory compliance, with caps varying based on identity verification. For accounts that have not completed identity verification, the weekly spending limit for person-to-person payments is typically $299.99. This amount covers all transactions, including payments to other individuals and purchases from authorized merchants. Unverified accounts also face a weekly bank transfer limit of $999.99 for moving funds to a linked bank account.

Once identity verification is complete, Venmo increases these limits. Verified accounts generally have a weekly spending limit of up to $60,000 for sending funds, which includes person-to-person payments. The combined weekly limit for purchases, encompassing payments to authorized merchants and transactions made with the Venmo Debit Card, can reach up to $7,000. For transferring money from a Venmo balance to a linked bank account, verified users can transfer up to $19,999.99 per rolling week, though individual transfers are capped at $5,000. While there isn’t a specific explicit limit for receiving money, the amount received is inherently constrained by the sender’s applicable transaction limits.

Impact of Identity Verification

Identity verification expands transaction capabilities on Venmo. The platform requires it for regulatory compliance (Know Your Customer and anti-money laundering) and to enhance account security. This process prevents fraudulent activities and ensures legitimate service use, unlocking higher transaction limits.

To complete identity verification, users must provide personal information. This includes their full legal name, date of birth, and the last four digits of their Social Security Number (SSN) or Individual Taxpayer Identification Number (ITIN). A government-issued ID (e.g., driver’s license, U.S. passport, state ID) may also be requested. Utility bills or bank statements may be needed to verify an address. Submitting this information unlocks higher transaction limits.

Limits for Specific Venmo Services

Beyond standard person-to-person payments, Venmo applies specific transaction limits to its other services, catering to different user needs. For users with a Venmo Debit Card, a daily spending limit of $3,000 applies to purchases, including online and in-store transactions. There is also a weekly purchase threshold of $7,000 for the debit card. ATM cash withdrawals using the Venmo Debit Card are subject to a daily limit of $400, and a weekly limit for ATM withdrawals, cashback, and over-the-counter withdrawals is set at $2,999.99.

Venmo Business Profiles operate under a distinct set of limits designed for commercial use. Unverified business accounts have a weekly payment limit of $2,499.99 and a bank transfer limit of $999.99 per week. For verified business profiles, the weekly limit for sending payments to other Venmo users increases to $25,000. Transfers from a verified business profile to a linked bank account can reach up to $49,999.99 per week. There is generally no maximum limit on the amount of money a business profile can receive.

Accessing Your Current Limits

Users can easily access their personalized transaction limits directly within the Venmo application. To view these specific details, begin by opening the Venmo app on your mobile device. From the main screen, navigate to the “Me” tab, which typically displays your personal profile and transaction history. Within this section, locate and tap on the “Settings” icon, often represented by a gear symbol.

Once in the settings menu, look for an option related to “Limits” or “Payment Limits.” Tapping this selection will display your current weekly rolling limits for various transaction types, including person-to-person payments, purchases with authorized merchants, and bank transfers. This section also indicates how much of your available limit has been utilized. Reviewing this information helps users stay informed about their account’s transactional capabilities.