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How much can you venmo per day? (Explained)

How much can you venmo per day? (Explained)

Venmo is a great way to send and receive money electronically. This digital wallet app can simplify your financial transactions and keep your money moving. To make the most of your Venmo experience, you need to be aware of Venmo sending limits.

You might be wondering if there is a maximum amount you can send each day. The answer is, no. Limits are not set daily. However, there are weekly limits on how much you can send. 

You will need to understand how to use your Venmo app for the best experience. One important detail is sending limits. Let’s look at these limits to get a better understanding of how you will be able to use this great app. 

Is There A Max You Can Send On Venmo?

Yes, there is a max on how much you can send on Venmo, but that maximum is not set up on a daily limit. It is set up on a weekly limit.

There are several factors that affect the weekly maximum. You should be aware, though, that you can send up to your weekly maximum in a single day. So, there are no daily limits, only the weekly limit. 

How Do I Know My Venmo Limit?

You will need to know your Venmo limit so that you can use your account with ease. Your Venmo limit will be based on the type of account you have and whether or not your identity has been verified yet. 

You can find out your Venmo limit by checking to see which type of account you have and checking to see if your account has been verified. Weekly limits are outlined below as they apply to verification and account type. 

Unverified personal account- An unverified personal account will have a weekly limit is only $299.99.

That sounds kind of low, but there is a reason why unverified accounts are kept at this low weekly limit. Venmo aims to transact mostly with verified accounts.

This is for the safety and security of other users. Without strict limits on unverified accounts, it might be possible for scammers to create bot accounts to attack legitimate Venmo users. If you need a bigger transaction limit you need to verify your identity. 

Verified personal account- Once you verify the identity on the account the weekly transaction limit is increased to $4,999.99.

That’s a pretty big improvement. Once you take the steps to verify your identity, you can greatly improve your transaction limits and what you are able to accomplish with this technology. 

Business Accounts 

Venmo business accounts are a different type of option you can use if you wish to run business transactions through Venmo. This is great for self employed people, vendors, or any type of business owner who wishes to greatly simplify their financial transactions.

There are different rules and limits for business accounts. 

Fees- You should know that a business account will carry certain fees, whereas a personal account will not. 

Unverified business limits- There are limits on transactions if the account is unverified. Again, this is for the safety and security of other users. If the business account is unverified, the weekly limit is $2,499.99. That is very low for a business.

This is why it is very important to get your business identity verified quickly. It is a good idea to do verification when you set up your account. 

Verified business accounts- Once you have verified your business accounts you will enjoy bigger limits, but there are still limits. 

  • $24,999.99 weekly limit 
  • $2,999.99 single transaction limit
  • $49,999.99 transfer limit to linked banked acct 

Why Are There Limits Per Day With Venmo?

Like with any type of business, the policies and procedures are set up according to the goals and limitations of the business.

Venmo provides financial services to millions of people in the US every day. In order to be able to do this safely and securely, the company needs to limit the number of transactions, and the amount of money being transacted to fit within the means of what they can monitor safely. 

This could be compared to a landscape business that has a max amount of yards they can service in one day. There are always limits on how much you can provide as a company. 

Remember, limits are in place to ensure that the money that is being transacted is done so safely and efficiently. If there were no limits, Venmo may not be able to provide safe and efficient services. 

Which Type of Account Do I Need?

When you are deciding which type of account you need, you will want to evaluate the amount of money you plan to transact. If you are an individual who will simply be using Venmo to simplify how you transact money among family and friends, a personal account will probably work well for you. 

If you run a small business, that does not transact enough money to justify a business account, you may still be able to use a personal account just find. Evaluate how much money your business actually moves each week, and then review the business account limits versus the personal account limits. 

If you run a business that does transact more money than limits of a personal account, then you should definitely consider opening a business account with Venmo.