It’s always great when you can move money from one place or person to another with just a few taps on a screen. But even then, business capacity, government regulations and a number of factors may limit how much you can transfer and hold during a certain timeframe.
In this article we’re going to take a closer look at the Venmo daily transfer limit, as well as the limits on other services provided by Venmo.
Before completing the verification process, your weekly spending limit will be 299.99 USD — which includes payments both person-to-person and to authorized merchants. Once the verification is completed, the overall weekly spending limit will change to 6,999.99 USD across the following transaction types:
- Person-to-person payments
- Online payments
- In-app purchases
- Venmo debit card transactions
- In-store purchases
Please remember that for person-to-person payments, both the per-transaction and maximum weekly limit stand at 4,999.99 USD. Venmo debit card purchases and payments to authorized merchants each have a per-transaction limit of 2,999.99 USD¹.
|💰 Sending more than 6,000 USD a week? Take a look at Wise! You can transfer up to 1,000,000 USD per transaction both within and outside of the US.|
Venmo has limits on the amount of money you can send, but this depends on two major factors. Firstly, the limit will vary according to whether you’re just sending to another person or to a merchant.
Additionally, when you make one transaction, that amount is deducted from your weekly limit and the remainder is the maximum you can send within this period. If an entire week goes by after that one transaction, Venmo counts afresh meaning your weekly limit is restored to the usual one.
|Type||Per-transaction limit¹||Weekly limit|
Transactions that involve money moving from or into your bank account are subject to bank transfer limits.
On the table below you will find these limits across different types of transactions.
|Adding money from your bank account to your Venmo account||$1,500 (depending on security checks at Venmo)|
|Moving money into your bank account (with unverified identity)||$999.99 (depending on security checks at Venmo)|
|Moving money into your bank account (with verified identity)||$19,999.99|
There’s also a minimum of 0.26 USD for instant transfers. You can use the standard bank transfer option if you’re moving less than 0.25 USD. A transfer stops eating into your limit as soon as it’s a week old.
If you’ve been approved for a Venmo debit card, you can add money to your balance straight from a verified bank account. These transfers usually take 3-5 business days — keep in mind that you may have to occasionally factor in weekends and public holidays, depending on when the transfer was initiated.
There’s a weekly rolling limit of 1,500 USD when it comes to transferring money to your Venmo balance³.
Venmo offers a physical debit card powered by MasterCard which you can use to spend the money in your Venmo account.
You can also set it up in such a way that Venmo draws from your chosen funding source if the money you have available on your account account isn’t enough for the payment you’re trying to make.
|Merchant transactions||$3,000 (daily)|
|ATM and over-the-counter withdrawals||$400|
Wise is a cheap, quick and easy way to move your money around. Being it within the US, or outside. They use the mid-market rate and show upfront what the fees are, so there aren’t any surprises on how much you’re paying for your transactions!
You can also hold your money in more than 50 different currencies and spend it with the Wise debit card.
Below you can find your sending and spending limits with Wise:
|Person to person payments||Venmo¹ ²||Wise⁴|
|Funded by bank transfer|
|Card funded transfer|
|Adding money||Same as above|
It really pays to have a money transfer service like Venmo that gives you considerable flexibility in how you move money to and from your bank account, make purchases and pay other people.
That being said, if you’re looking into making international payments or wish for more flexible limits, you should consider using an alternative service provider, such as Wise.
- Venmo - Payment limits
- Venmo - Bank transfer limits
- Venmo - Adding money to your Venmo balance
- Wise - USD transfers
Sources checked on 06.30.2021
This publication is provided for general information purposes only and is not intended to cover every aspect of the topics with which it deals. It is not intended to amount to advice on which you should rely. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content in this publication. The information in this publication does not constitute legal, tax or other professional advice from TransferWise Limited or its affiliates. Prior results do not guarantee a similar outcome. We make no representations, warranties or guarantees, whether express or implied, that the content in the publication is accurate, complete or up to date.
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