Venmo is a popular mobile payment service that allows users to send and receive money quickly and easily. However, there are limits to the amount of money you can send and receive on Venmo. In this article, we will explore the different limits that apply to Venmo and how you can increase your Venmo limit.
Sending and Receiving Limits on Venmo
Venmo has different sending and receiving limits for verified and unverified accounts. If you have an unverified Venmo account, you can only send and receive up to $250 in a week. If you want to increase your Venmo limit, you need to verify your account.
To verify your Venmo account, you need to provide your full name, date of birth, and the last four digits of your social security number. You will also need to provide a photo of your government-issued ID, such as a driver's license or passport.
Once your account is verified, you can send and receive up to $7,500 per week on Venmo. However, there are also on Venmo limit per day. If you have a verified account, you can send up to $2,500 per day and receive up to $10,000 per day.
If you need to send or receive more money than the Venmo limits allow, you can request a higher limit. You need to contact Venmo Customer Support and provide additional information.
Venmo Fees
Venmo charges fees for some transactions. For example, if you want to send money instantly to a debit card, you will need to pay a 1.5% fee. However, if you are willing to wait 1-3 business days for the transfer to complete, you can avoid the fee.
Venmo also charges a 3% fee if you use a credit card to send money. However, if you link a bank account to your Venmo account, you can avoid this fee.
Read also: How does venmo work / Venmo Transaction Declined
Venmo Security
Venmo takes security seriously and uses encryption to protect your personal and financial information. However, you should still take precautions to protect your account. For example, you should set up two-factor authentication and avoid sharing your login credentials with anyone.
Conclusion
Venmo is a convenient way to send and receive money, but there are limits to the amount of money you can send and receive. If you need to send or receive more money than the Venmo limits allow, you can request a higher limit. Just make sure to take security precautions to protect your account.
