What Is the Limit on Venmo Transactions?
Navigate Venmo's financial boundaries. Discover how transaction limits are applied, how they change with verification, and what they mean for various services.
Venmo is a digital payment platform for money transfers. Like other regulated financial services, Venmo has transaction limits. These limits uphold security, mitigate fraud, and comply with federal regulations. Understanding them helps users manage their financial activities.
Understanding Standard Transaction Limits
When creating a Venmo account, users have default transaction limits, especially if their identity is not verified. For unverified accounts, a weekly spending limit of $299.99 applies to all person-to-person payments and purchases. This limit covers all outgoing transactions within a rolling seven-day period, resetting one week after each transaction.
Unverified users also have a separate weekly limit of $999.99 for bank transfers from their Venmo balance. These initial limits manage risk and platform security before user information is confirmed. Transactions exceeding these amounts will be declined.
These unverified limits can be restrictive for frequent users. The rolling weekly limit means each transaction counts towards the cap for seven days. Users often receive prompts to verify their identity when approaching these lower thresholds, which increases financial flexibility.
Increasing Your Limits Through Identity Verification
Verifying your identity with Venmo significantly increases transaction limits. This process requires providing personal information such as your full legal name, date of birth, physical address, and the last four digits of your Social Security Number (SSN).
Identity verification is standard across financial platforms, mandated by federal regulations like the USA PATRIOT Act to prevent financial crimes. Once verified, transaction limits are substantially raised. For personal accounts, the weekly sending limit for person-to-person payments, merchant purchases, and Venmo Debit Card transactions can increase to a combined total of $60,000.
The weekly limit for bank transfers from your Venmo balance also increases to $19,999.99 upon verification. Individual bank transfers are capped at $5,000, so larger amounts may require multiple transfers. The verification process usually takes only a few minutes and is a crucial step for greater transactional capacity.
Limits for Specific Venmo Services
Beyond standard person-to-person transfers, Venmo offers additional services with their own transaction limits. The Venmo Debit Card, linked to a user’s Venmo balance, has specific spending and withdrawal caps. Users 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 Venmo Debit Card allows ATM withdrawals, cash back at retail locations, and over-the-counter withdrawals. These combined methods have a daily limit of $400 and a weekly withdrawal limit of $2,999.99. Daily limits reset at 12:00 AM Central Standard Time, and weekly limits are on a rolling seven-day basis.
Venmo also facilitates direct deposits. For verified accounts, the direct deposit limit is $25,000 per individual deposit, with a monthly limit of $50,000.
Business profiles have different limits for higher transaction volumes. Unverified business accounts have a weekly payment limit of $2,499.99 and a bank transfer limit of $999.99 per week. Verified business profiles can send up to $25,000 in payments per week and transfer up to $49,999.99 per week to a linked bank account. Instant transfers are capped at $10,000 to a debit card or $50,000 to a bank account per transaction.