What is Person to Person Venmo Limit: Everything You Should Know? - 3 minutes read

If you use Venmo, chances are high that you have faced its weekly or daily transfer limit at some point. When that happens, you will receive an email will be sent to you advising that you have reached the Venmo limit and you will not be able to transfer more money until the next week or day. In such a situation you have the option to increase Venmo limit by following a few simple steps.

There are so many different methods to increase Venmo limit; however, the most effective way is by verifying your account. Furthermore, linking bank accounts and frequently verifying the identity of your account can also increase the limits. Contacting Venmo customer service may assist in increasing your limit. So, let’s begin and learn more about it.

What Are The Different Venmo Limits?

Venmo has rapidly become one of the top mobile payment applications for instant transactions between users, particularly for those with no cash in their wallets. As with all financial applications, however, Venmo imposes certain limits, and to avoid crossing the boundaries without knowing it, users must be aware of them and behave within the limits in accordance with them. Venmo provides weekly and daily limits on the amount of money you can add to your accounts, as well as the withdrawal limits of its debit card customers to ensure their funds are secure. Here are the different types of Venmo limits:

• Venmo Daily Limits: The Venmo daily limit includes the sending, receiving, and withdrawing of funds, and is generally set at $2,999.99.

• Venmo Weekly Limits: Venmo has a limit for weekly use, too, and it is generally $4,999.99.

• Venmo Monthly Limits: In terms of limit on monthly transactions, Venmo generally limits transactions at $6,999.99.

What Are The Venmo Person-to-Person limits?

Venmo also imposes certain restrictions to protect users and prevent misuse. In the case of transfers to Venmo, two main limitations are. Venmo daily transfer limit refers to the maximum daily amount that users can transfer. These Venmo limits vary according to different factors, such as account activity and verification status.

While Venmo lets you save funds to its Venmo amount, however, you can move the Venmo balance to a linked bank account. The Venmo withdrawal limit for each transaction amounts to $999.99. It can take up to 1-3 business days for the funds to be deposited into the bank account.

How Do You Increase Venmo Limits?

Several important factors affect the amount of money that can be transferred using Venmo, including the person you are transferring money to (other merchants or users) and the speed at which the transfers are performed. Also, Venmo person to person limit vary based on whether the account is verified or unverified account, as well as whether you are a new or returning user. The purpose of these restrictions is to safeguard your account from fraud and accidental over-spends. If you wish to increase Venmo limit, you will need to follow the steps mentioned below:

• Open your Venmo app on an Android or iPhone device.

• Click on the icon for Profile.

• Verify your identity. This includes sharing your personal information and confirming your identity using documents such as a driver's license or your passport or a driver's license.