If you’re search for venmo weekly limit then you’re in the in the right place at the right time because in this post I will be discussing everything you will need to know about venmo weekly sending limits.
Venmo is without a doubt one of the popular digital payment platform in the USA.
In this post I enlighten you on the venmo weekly limit and how you bypass or increase the limits. Without wasting much of your time, let’s dive into what we’re here for.
What is the venmo weekly limit And how to Increase it
The limits on venmo varies from unverified account to verified accounts.
After you have finished signing up for venmo, your person-to-person sending limit would be capped at $299.99, this is because your account identity have not yet been verified.
If you exhaust your transfer limit, you can no longer send out any more funds until your limit resets.
If you’d like to increase it then you will have to verify or confirm your identity.
Once you have successfully confirmed your identity you weekly rolling limit would increase to $4,999.99.
Like I previously stated above, the weekly sending limit varies for account that are verified and accounts that are not verified.
Venmo Weekly Sending Limits For Unverified Accounts
For unverified accounts, their spending limit capped at $299.99. If you’re a big spender you will come to notice that that an unverified account cannot please you.
Venmo Weekly Limit For Verified Accounts
There are benefits that comes with verifying your identity on venmo.
Once you have verified your venmo account, your weekly transfer limit will increase drastically.
The venmo weekly sending limit for verified accounts is $6,999.99.
While your account have this huge sending limit, you can’t send the whole $6,999.99 to one recipient.
You can only send up to $4,999.99 to another venmo user weekly. This limit is the same per transaction and you can exhaust your limit in a single transaction.
But if you’re transfering to a merchant, the transaction limit would be $2,999.99 per transaction, but you can spend more as long as you’re not exceeding the $6,999.99 transfer limit.
Venmo Limit For Transferring Money To Your Bank Account
If you want to transfer cash from your venmo account to your bank account, your weekly limit would be $999.99 for unverified account regardless of how much you have in your venmo account.
Verified account have the advantage of transferring more money to their bank accounts as their venmo weekly limit is $19,999.99.
Note that their are minimal transaction charges for moving money from your venmo account to your bank account.
When Does Venmo Limit Reset?
After you have exhausted your transaction Limit, you can only perform your next transaction after 7 days.
If you have venmo debit card, the limit resets daily and it resets at midnight every day unlike other venmo limits
How Do I Increase My Venmo Weekly Transfer Limit
For unverified vemno users, the only way to increase venmo weekly limit is by verifying your identity on venmo. Once your identity is verified your weekly transfer limit will be increased.
I hope I have been able to answer your questions and curiosity about venmo weekly sending and transfer limits. If you have any question do well to use the comment box below.