What Is the Maximum Amount You Can Send on Venmo?
Understand Venmo's financial boundaries. Learn how much you can send, receive, and transfer, and how to optimize your spending power.
Venmo is a mobile payment service, enabling users to send and receive money. It facilitates transactions between friends, family, and businesses.
Understanding Venmo’s Standard Limits
Venmo sets default transaction limits for accounts that have not completed identity verification. These limits apply to various transaction types. For sending money or making payments to authorized merchants, the combined weekly spending limit is $299.99. This cap applies to payments made within a rolling seven-day period.
When transferring funds from a Venmo balance to a linked bank account, unverified users face a separate weekly limit. This bank transfer limit is $999.99 per week. These restrictions manage risk and encourage identity verification. Limits are rolling, resetting one week from the transaction authorization.
How Verification Impacts Your Limits
Identity verification expands Venmo transaction limits. This process is necessary for security, fraud prevention, and regulatory compliance. Verification ensures the user is who they claim to be, safeguarding both the user and the platform.
To complete verification, users typically provide their full legal name, date of birth, address, and the last four digits of their Social Security Number (SSN). In some cases, a full SSN or an Individual Taxpayer Identification Number (ITIN) may be required. The process is initiated within the Venmo app by navigating to the “Me” tab, then “Settings,” and finally “Identity Verification”.
Once an account is verified, transaction limits increase. Verified users can send up to $60,000 per week for person-to-person payments and combined purchases, including payments to authorized merchants. The weekly bank transfer limit for verified users reaches $19,999.99. Verified accounts can transfer up to $5,000 per individual transaction to a bank account.
Increasing Your Venmo Limits
Beyond basic identity verification, other features can help users achieve higher transaction limits. Linking a bank account supports higher transfer capabilities. While instant transfers to a bank account have a per-transaction limit of $5,000, standard bank transfers for verified accounts can total up to $19,999.99 per week.
The Venmo Debit Card allows for daily purchases up to $3,000 and a weekly purchase limit of $7,000. It also has an ATM withdrawal limit of $1,000 per day. Setting up direct deposit offers limits of up to $25,000 per direct deposit and $50,000 per month. Users can check their current transaction limits within the Venmo app by navigating to their settings and reviewing the limits section.