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Venmo transfer limit: What you need to know

Venmo transfer limit: What you need to know

It's always convenient to be able to transfer money from one location or person to another with just a few taps on a screen. Even so, business capacity, government regulations, and a variety of other factors may limit how much you can transfer and hold in a given timeframe.

In this article, we'll look at Venmo transfer limit as well as Venmo max transfer per day.

Venmo transfer limit: What you need to know

Venmo transfer limit: What you need to know

What is Venmo?

Venmo is a mobile payment app allowing users to transfer money to others. PayPal owns it and is available for both Android and iOS devices. The app will enable users to link their bank accounts or credit/debit cards to their Venmo accounts, making it easy to transfer money to and from other users.

Venmo max transfer per day

The majority of Venmo spending limits are set every week. However, using the Venmo Mastercard Debit Card will restrict you to a daily spending limit. As an example:

  • ATM withdrawals, cashback, and counter withdrawals are limited to $400 per day.
  • Purchases per day: $3.000
  • 30 transactions per day are permitted.
  • Every day at 12:00 a.m. CST, these limits are automatically reset.

There is no daily transfer limit on Venmo, but there are weekly withdrawal limits based on your identity verification status.

Venmo transfer limit

Before completing the verification process, your weekly spending limit will be 299.99 USD, which includes payments made to authorized merchants as well as payments made to other people. Once the verification is complete, the overall weekly spending limit will be reduced to 6,999.99 USD for the following transaction types:

  • Person-to-person payments
  • Online payments
  • In-app purchases
  • Venmo debit card transactions
  • In-store purchases

Please keep in mind that the per-transaction and maximum weekly limits for payments between individuals both stand at 4,999.99 USD. The per-transaction maximum for Venmo debit card purchases and payments to authorized merchants is 2,999.99 USD.

Sending limits

The amount of money you can send via Venmo is limited, but this is determined by two major factors. To begin, the limit will differ depending on whether you're sending to another person or a merchant.

Furthermore, when you make a transaction, the amount is deducted from your weekly limit, and the remainder is the maximum amount you can send during this period. If an entire week passes after that single transaction, Venmo starts counting again, restoring your weekly limit to its original level.

  • Person-to-person
    • Per-transaction limit: $4,999.99
    • Weekly limit: $4,999.99
  • Merchant transactions
    • Per-transaction limit: $2,999.99
    • Weekly limit: $6,999.99

Bank transfer limits

Bank transfer limits apply to transactions that involve money moving from or into your bank account. These limits are shown below for various types of transactions.

  • Adding funds to your Venmo account from your bank account: Weekly limit - $1.500 (depending on Venmo's security checks)
  • Moving money into your bank account (with unverified identity): Weekly limit - $999 (depending on Venmo's security checks)
  • Moving money into your bank account (with verified identity): Weekly limit - $19,999.99 (depending on Venmo's security checks)

There is also a 0.26 USD minimum for instant transfers. If you are moving less than 0.25 USD, you can use the standard bank transfer option. When a transfer is a week old, it no longer consumes your limit.

Venmo transfer limit - Business account

You will have a weekly payment limit of $2,499.99 if you have not completed identity verification for your business profile. You will also be limited to $999.99 in weekly bank transfers. To verify your identity, go to the app's Settings menu and select "Identity Verification".

You can send up to $25,000 per week from your business profile on Venmo if you have completed identity verification. Your transactions, however, may be declined for other reasons.

When you complete the identity verification process, your weekly bank transfer limit increases to $49,999.99. For Instant Transfers to your debit card, the per-transaction limit is $10,000.00, and for Instant Transfers to your bank account, the limit is $50,000.00.

Limits for adding money to your Venmo balance

If you've been approved for a Venmo debit card, you can fund it directly from a bank account. These transfers typically take 3-5 business days — keep in mind that weekends and public holidays may be required on occasion, depending on when the transfer was initiated.

When it comes to transferring funds to your Venmo balance, there is a weekly rolling limit of $1,500 USD.

Venmo debit card limits

Venmo provides a physical debit card powered by MasterCard that you can use to spend money in your Venmo account.

You can also configure it so that Venmo draws from your preferred funding source if the money in your account is insufficient to cover the payment you're attempting to make.

  • Per-transaction limit: $2,999.99
  • Weekly spending: $6,999.99
  • Merchant transactions: $3.000 (daily)

Transfer money to someone else? Meet DNBC Financial Group

DNBC Financial Group is a cheap, quick, and simple way to transfer money. We use the mid-market rate and disclose all fees upfront, so there are no surprises about how much you're paying for your transactions.

About DNBC Financial Group

DNBC Financial Group is an international financial institution that provides a smart digital payment system, a quick payment platform, and a simple online money transfer/receipt service to businesses and individuals all over the world.

DNBC Financial Group's mission is to simplify global financial payments, make day-to-day transactions run smoothly, and ensure that customers meet their payment deadlines every time.

Read more:

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