The weekly Venmo transfer limit for unverified users is $299.99. This may be sufficient for small transactions. However, for some users this amount is not sufficient. So, if you want to get higher transfer limit on Venmo, you must verify your account. This will raise the weekly transfer limit up to $4,999.99. The process requires you to provide your legal name, your address, your date of birth, and the last four numbers of your Social Security Number.
Once you have been verified, it is possible to send and receive higher amounts without having to worry about exceeding the limit. Venmo limits purchases and withdrawals in addition to person-to-person transfers. So, let's begin and learn more about it.
Venmo sets transfer limits to protect its users and comply with regulations. Venmo's transfer limits are classified into several types depending on the user verification status and type of transaction.
Venmo Person To Person Limit: Venmo person to person limit is based on whether you have verified your Venmo identity.
• Unverified Users: If you have not completed Venmo’s identity verification, your weekly limit for person-to-person transfers is $299.99.
• Verified Users: After you confirm your identity, the limit for person-to-person transfers increases to $4.999.99 per week.
Venmo Purchase Limits: Venmo has limitations on both the purchases you can make and the transfers that you can make.
• Unverified Users: For unverified users, the weekly purchase limit is $299.99.
• Verified Users: The weekly purchase limit for verified users is $6,999.99.
Venmo withdrawal limits: Venmo also has withdrawal limits if you use the physical Venmo debit card.
• ATM Withdrawals: There is a Venmo daily limit for withdrawal of $400.
• Cash Back: The daily cashback limit is also $400.
It is easy to increase Venmo limit, but you must first complete Venmo’s identity verification. You need to follow the steps mentioned below:
• Log in to your Venmo account by opening the app on your smartphone.
• Select "Settings" by tapping on the three horizontal bars in the upper-left corner.
• Select "Identity Verification" in the Settings menu.
• Follow the prompts and enter your legal name, your address, your date of birth, and the last four digits of your Social Security Number.
• Verify the information that you have entered.
• Venmo verifies your identity by reviewing your information. This process may take anywhere from a few seconds to a couple of days.
• As soon as your identity has been verified, the transfer and purchase limit will be automatically increased.
Here are the different types of Venmo limits such as daily, weekly and monthly limits:
• Venmo has no daily limits for transfers between people. There are, however, daily limits on other transactions, such as ATM withdrawals or cashback.
• The Venmo limit per week for verified users is $4.999.99.
• Venmo does not specify monthly limits because they operate primarily on a weekly rolling basis.
Venmo's transfer limits for unverified users is $299.99 per person per week. Verified users can transfer up to $4,999.99 per week.
To increase Venmo limit, you need to verify your account by sharing information such as your full name, your address, your date of birth, and the last 4 digits of your Social Security Number.
Venmo has no daily limit on transfers between people. There is a $400 daily limit for ATM withdrawals or cashback transactions.
Unverified Venmo users are limited to $299.99 per week for purchases and transfers between people. Verified users have a weekly limit of $4,999.99 per person for transfers and $6.999.99 per purchase.
Venmo does not have a monthly limit and operates on a weekly rolling basis. Understanding and managing weekly limits will help you plan monthly transactions.
Unverified Venmo users are limited to a maximum weekly purchase of $299.99, while verified users can spend up to $6,999.99.
