How to Increase the Venmo Person-to-Person Limit?

Venmo is a popular mobile payment service that allows users to transfer money to one another with ease. However, many users encounter limitations on the amount they can send and receive. Understanding these limits and knowing how to increase them can enhance your Venmo experience. In this comprehensive guide, we will delve into the details of Venmo's person-to-person limits, how to increase them, and other related aspects.

Venmo Person-to-Person Limit per Day

Venmo imposes limits on the amount of money you can send to another user each day. These limits are in place to protect users from fraud and to ensure the security of transactions. For unverified accounts, the Venmo daily sending limit is generally lower compared to verified accounts. Typically, an unverified Venmo account has a daily person-to-person limit of around $299.99.

How Much Can You Send on Venmo for Free?

Sending money on Venmo is generally free when using your Venmo balance, bank account, or debit card. However, if you use a credit card to send money, a fee of 3% of the transaction amount is applied. For standard transactions, the maximum you can send for free depends on your verification status. Verified accounts can send up to $4,999.99 per week without any fees using the mentioned free methods.

Venmo Person-to-Person Limit Increase

Increasing your Venmo person-to-person limit involves verifying your identity. Venmo requires users to provide information such as their legal name, date of birth, and social security number. Once your identity is verified, your sending limits will significantly increase. For verified accounts, the weekly sending limit can reach up to $6,999.99. This includes person-to-person payments, payments to authorized merchants, and purchases made using your Venmo debit card.

How Do I Know My Venmo Limit?

To check your Venmo limit, follow these steps:

1. Open the Venmo app on your mobile device.

2. Tap on the menu icon (three horizontal lines) in the top-left corner.

3. Go to "Settings."

4. Select "Payment Limits."

Here, you will see your current limits, which are divided into different categories such as person-to-person payments, purchases, and bank transfers.

Venmo Limit Per Week

Venmo has a weekly sending limit which varies based on whether your account is verified or not. For unverified accounts, the weekly limit is usually $299.99. Once your account is verified, this limit increases to $6,999.99. This limit encompasses all forms of payments and transfers, including person-to-person, merchant payments, and Venmo card purchases.

How to Increase Venmo Limit

To increase your Venmo limit, you need to verify your identity. Here’s how you can do it:

1. Open the Venmo app: Launch the app on your smartphone.

2. Access Settings: Tap on the menu icon and navigate to "Settings."

3. Verify Identity: Select "Identity Verification" and follow the prompts to provide your personal information, including your full name, date of birth, and the last four digits of your social security number.

4. Submit Documents: You may be required to upload a photo of your government-issued ID for further verification.

Once your identity is verified, Venmo will notify you, and your sending limits will be increased.

Venmo Receiving Limit

Unlike sending limits, Venmo does not impose a receiving limit on user accounts. This means you can receive any amount of money without restrictions. However, the amount you can transfer to your bank account is subject to limits, which depend on whether your account is verified or not.

How to Verify Venmo Account

Verifying your Venmo account is crucial to increase your sending limits and unlock additional features. Follow these steps to verify your account:

1. Open the Venmo app: Ensure you have the latest version of the app installed.

2. Go to Settings: Tap the menu icon and navigate to "Settings."

3. Select Identity Verification: Follow the on-screen instructions to complete the verification process.

4. Enter Personal Information: Provide your legal name, date of birth, and social security number.

5. Submit Identification: You may be asked to upload a photo of your government-issued ID.

Conclusion

Increasing your Venmo person-to-person limit is a straightforward process that involves verifying your identity. This not only enhances your transaction capabilities but also adds an extra layer of security to your account. By understanding and managing your Venmo limits, you can make the most out of this convenient payment platform.