How Much Can You Send on Venmo?

Venmo is a popular mobile payment app, making it easy to split bills, send money to friends, or shop at select online stores. But before you start using Venmo for your transactions, it’s essential to understand the limits on how much you can send.

Venmo Sending Limits

Venmo has weekly rolling limits that determine how much you can send. These limits depend on whether your account is verified or unverified:

• Unverified Accounts: If you haven’t confirmed your identity on Venmo, you’ll have a weekly spending limit of $299.99. This encompasses both payments to individuals and authorized merchants.
• Verified Accounts: Once you verify your identity, your weekly sending limit increases significantly to $60,000. However, individual payments might have lower caps depending on Venmo’s security checks.

How to Verify Your Venmo Account?

Here’s how to verify your identity to benefit from the higher sending limits:

1. Go to the “Me” tab within the Venmo app.
2. Tap the Settings icon (the gear symbol) in the top right corner.
3. Select “Identity Verification.”
4. Follow the prompts to provide your personal information, including your full name, address, date of birth, and Social Security number.

Venmo Withdrawal Limits

Aside from sending money, Venmo also has limits on transferring funds to your bank account. These limits also vary based on account verification status and the type of transfer.

1. Unverified Accounts:

$999.99 weekly transfer limit to your bank, subject to security checks.

2. Verified Accounts:

• Standard Transfer: Up to $19,999.99 per week with a $5,000 per-transaction limit. Standard transfers usually reach your bank in 1-3 business days.
• Instant Transfer: Up to $50,000 per week with a $10,000 per-transaction limit. Instant transfers typically hit your bank account within minutes, but include a fee (usually around 1.75% with a minimum of $0.25 and a maximum of $25).

Factors Affecting Your Venmo Limits

It’s important to note that certain factors can affect your Venmo limits, even if you’re verified:

• Suspicious Activity: Venmo may temporarily lower your limits if it detects unusual patterns in your account.
• New Account: New Venmo accounts might have initial restrictions as a security measure.
• Security Reviews: Venmo might occasionally review accounts, leading to temporary limit adjustments.

Venmo provides a convenient platform for sending and receiving money, but understanding the sending and withdrawal limits is crucial. Verifying your account unlocks higher limits, allowing you to use Venmo for larger transactions. Remember to always refer to Venmo’s official help center for the most up-to-date information on limits and potential changes.