Venmo is a great platform to manage your payment needs, whether you want to spend money at merchants or send money back and forth to friends and family. Unfortunately, the amount you can spend is not unlimited with these accounts. Therefore many wonder about the max transfer amount per day you can do on Venmo. You need to know the Venmo limit, both daily and weekly. Let's dig in!
|Weekly/Per Transaction Limits||Person-to-Person Payments||Authorized Merchant Transactions||Venmo Mastercard Debit Card Purchases|
|Maximum Weekly Spending (Unverified)||$299.99 combined||$299.99 combined||$299.99 combined|
|Maximum Weekly Spending (Verified)||$4,999.99||$6,999.99||$6,999.99|
|Per Transaction Limit (Verified)||$4,999.99||$2,999.99||$2,999.99|
As you can see from the table above, there is no daily limit in Venmo.
For more information on how much you can send and spend on Venmo, here is our detailed breakdown to help you manage your money!
Venmo Weekly Limit Explained
While the table above references the weekly and per-transaction limits on your Venmo account, you may be wondering how these limits are actually enforced. There is a little more to it than there appears at first glance. Your Venmo weekly limit will depend on whether your account is verified or not.
- Weekly limit: $299.99
- 7-day reset
An unverified account has a significantly lower limit than accounts where you have verified your identity with Venmo.
Rather than impose a specific daily limit on Venmo, you will be subject to a combined $299.99 weekly limit.
Meaning, there's no max per day limit using Venmo.
This encompasses your ability to send person-to-person payments as well as authorized merchant transactions.
The more you spend on person-to-person payments, the less you will have available for merchant transactions or Venmo Mastercard debit card purchases.
For example, you may spend $100 to send money to a friend when you split a bill. This means you will only have $199.99 left to spend at merchants for the week.
You must also remember that the week does not necessarily reset at a specific date and time. Rather, it is a rolling basis. This means that if you sent that money at 10:00 on Monday, it will not reset until the following Monday at 10:01.
With a limit this low, you must be very conscious of how much you are spending on your Venmo account. We will go over how to verify your account and increase your limit in the next section.
- Weekly limit: $6,999.99
- One transaction limit: $2,999.99
- 7-day reset
Once you have verified your account, your spending limit is raised to $6,999.99 per week. This is broken down into two categories:
- Maximum you can send on person-to-person payments
- Authorized merchant transactions.
Venmo has distinct limits for how much you can spend in each category and in each transaction.
You can choose to transfer this total amount in one transaction or break it up over several transactions. The choice is completely yours as it offers some degree of flexibility. You can choose to transfer this total amount in one transaction or break it up over several transactions. The choice is completely yours as it offers some degree of flexibility.
Merchant purchase limits with Venmo
When it comes to making purchases with merchants, you can spend up to your weekly limit of $6,999.99. However, there are restrictions imposed on how much you can spend in one transaction. The limit per transaction is $2,999.99 for transactions with merchants and the amount you can spend on your Venmo Mastercard debit card.
These limits are a bit more fluid than they are for unverified accounts. Your total weekly limit is $6,999.99. This means that if you spend more in one category, then the amount you have available to spend in the other category is less.
To give you an example, let’s say that you spent $3,500 on a purchase with a merchant either online or using the Venmo Mastercard. This means that you will only have $3,499.99 to spend on person-to-person transactions for the rest of the week.
The reverse is also true. You can choose to spend more on person-to-person transactions at the expense of merchant transactions. If you spend $3,800.00 on person-to-person transactions, you will only have $3,199.99 to spend on merchant purchases for the rest of the week.
You must plan ahead to ensure that all of your transactions are going to fit into your Venmo weekly limit.
Venmo does not have a daily limit for verified accounts.
How to Verify Your Venmo Account
By this point, you have probably already realized the major benefit of verifying your Venmo account. It can raise your Venmo limit per day or week, making it easier to manage your finances using this handy program. Fortunately, verifying your account is quick and easy.
To help verify your identity quickly, they use a National Database to match up your legal name, address, date of birth, and social security number or ITIN.
For those who are on the new version of the Venmo app, here are the instructions you will need to follow to verify your identity:
1. Select the You tab by clicking on the single person icon
2. Tap the settings gear in the upper right part of the screen
3. Click Settings
4. Tap Identity Verification
5. Follow the on-screen prompts
If your information does not match in the database, you may be asked to submit further documentation to verify your name, address, or social security number. This may require you to submit documents including:
- Passport, driver’s license, or other type of U.S. government-issued ID
- Bank or credit card statement with address
- W2 or paystub
- Lease for your residence or current car registration
- Social security card or ITIN assignment letter
Venmo does its best to review documents as quickly as possible. They strive to complete the process within two to three business days. However, they are currently experiencing some delays and you may have to wait a bit longer than usual.
Is your Venmo account on hold? Learn more about how to get it unfrozen in our other complete guide here.
Venmo Daily Limits Explained
Once you know how the Venmo weekly limits are calculated for both unverified and verified accounts, you need to know how much you are allowed to spend on a daily basis. The numbers are a little bit less for this daily category. It may require some advance planning to ensure that you are able to make all of the purchases and transfers you want on a given day.
Their spending limits are calculated on a rolling weekly basis. This means that your limit will be calculated based on the seven days prior. If you made a major purchase on Monday, it will be a part of your limit until the following Monday when the rolling week resets itself.
However, there are a few daily limits that you should be aware of when trying to manage your Venmo account.
The first consideration is ATM withdrawals, over-the-counter withdrawals, and cashback. You may be surprised to learn that even though your verified Venmo limit is $6,999.99, you can only withdraw $400 in cash each day. This limit will reset daily at 12:00 AM CST.
You also have a daily limit that you can spend with each merchant. For purchases like these, you can only spend $3,000.00 per day. There is a maximum limit of thirty transactions per day.
Venmo Max Transfer Limits
- Deposit Limit: $1,500.00 weekly. (May vary)
- Weekly Withdrawal Limit (NOT Verified): $999.99
- Weekly Withdrawal Limit (Verified): $19,999.99
- One Transaction Limit: $2,999.99
- 7-day reset
Do you plan on adding more money to your Venmo account or withdrawing money to another checking account? There are more restrictions you may want to be aware of when it comes to the Venmo max transfer limit.
Max Deposit Transfer on Venmo
If they allow you to add funds from your bank account, you are permitted to transfer up to $1,500.00 per week. This amount may vary depending on security checks performed at Venmo.
Many people are more interested in transferring their funds from Venmo to their bank account, especially if you recently received a hefty person-to-person payment. You may want to spend that money without regard for the imposed Venmo daily or weekly limits.
Max Withdrawal Transfer on Venmo (unverified)
Once again, the amount you are allowed to transfer to your bank account depends on whether your account is verified or not. When your identity has yet to be confirmed, you can only transfer $999.99 per week.
Verified Withdrawal & Per-transaction Limit
This number increases significantly once your account has been verified though. Once Venmo has had an opportunity to review your documents, you can transfer a whopping $19,999.99 per week to your bank account. Keep in mind that there is a per transaction limit of $2,999.99.
Much like your weekly Venmo spending limits, your limits on bank accounts are calculated on a rolling weekly basis. This means that if you make a bank transfer on Friday at 10:00 AM, then the rolling limit will reset the following Friday at 10:01 AM.
There are also minimum transfer limits that you should be aware of. Instant transfers must be greater than $0.26, but standard transfers can be less.
Venmo Daily Limits Broken Down
It can be quite a bit easier to think of your Venmo limit as a whole instead of focusing solely on how much you can spend each week. For unverified accounts, it is a measly $299.99 combined. However, you can greatly increase that rolling combined weekly limit to $6,999.99 by verifying your identity within the app. You've also learned that there is no daily limit to keep track of when using Venmo, only the weekly and per-transaction limit.
Be sure to keep track of how much you are spending to keep from surpassing this limit!