How Can I Increase My Venmo Sending and Withdrawal Limits?

ByThomas Cook

Venmo is a popular peer-to-peer payment platform that allows users to send and receive money effortlessly. However, users often encounter limitations on the amount of money they can send or withdraw, which can be a hindrance. In this comprehensive guide, we will explore how to increase your Venmo sending limit and Venmo withdrawal limit to ensure seamless transactions.

Understanding Venmo Limits

Venmo Sending Limit

Venmo has specific limits on the amount of money you can send per transaction, per week, and per month. These limits are designed to protect users from fraud and unauthorized transactions.

  • Venmo Limit Per Day: Venmo does not have a daily sending limit. Instead, limits are set on a weekly basis.
  • Venmo Weekly Limit: For verified accounts, the weekly sending limit is $4,999.99. For unverified accounts, this limit is significantly lower.
  • Venmo Monthly Limit: Venmo does not specify a monthly sending limit separately; it follows the weekly limit policies.

Venmo Withdrawal Limit

The withdrawal limit refers to the maximum amount of money you can transfer from your Venmo account to your bank account.

  • Venmo Daily Limit: The standard daily withdrawal limit is $999.99.
  • Venmo Weekly Limit: Similar to the daily limit, the weekly withdrawal limit is also set at $999.99.
  • Venmo Monthly Limit: There is no distinct monthly withdrawal limit, as it is covered under daily and weekly limits.

Steps to Increase Your Venmo Limits

1. Verify Your Identity

One of the most effective ways to increase your Venmo limits is by verifying your identity. Venmo requires users to provide additional information to enhance security and increase transaction limits.

Steps to Verify Identity:

  1. Open the Venmo app and navigate to the menu.
  2. Select “Settings” and then “Identity Verification.”
  3. Follow the prompts to provide necessary information, including your legal name, address, date of birth, and Social Security Number (SSN).

Once your identity is verified, your Venmo sending limit can increase to $4,999.99 per week, and your withdrawal limit can rise as well.

2. Link and Verify Your Bank Account

Linking and verifying your bank account can also help increase your Venmo limits.

Steps to Link and Verify Bank Account:

  1. Go to the “Settings” menu in the Venmo app.
  2. Select “Payment Methods” and then “Add Bank or Card.”
  3. Choose your bank and enter your online banking credentials.
  4. Verify your bank account by confirming micro-deposits made by Venmo.

3. Enable Two-Factor Authentication

Enabling two-factor authentication (2FA) adds an extra layer of security to your Venmo account, which can help in increasing your limits.

Steps to Enable 2FA:

  1. In the Venmo app, go to “Settings.”
  2. Select “Security” and then “Two-Factor Authentication.”
  3. Follow the instructions to enable 2FA using your mobile number.

4. Use Venmo Consistently

Regular and consistent use of Venmo can signal to the platform that you are a trustworthy user. Make frequent transactions, but ensure they are legitimate to avoid any flags on your account.

5. Contact Venmo Support

If you need higher limits than those provided after verification, you can contact Venmo support for assistance. Explain your situation and the need for higher limits. They may request additional documentation or information to review your request.

Contacting Venmo Support:

  1. Open the Venmo app and go to the menu.
  2. Select “Get Help” and then “Contact Us.”
  3. Choose your preferred method to contact Venmo support (email, chat, or phone).

Frequently Asked Questions

What is the Venmo sending limit for unverified accounts?

Unverified accounts have a significantly lower sending limit compared to verified accounts. The exact limit can vary but is generally around $299.99 per week.

How long does it take to verify my identity on Venmo?

Identity verification on Venmo can take a few minutes to a few days, depending on the accuracy of the information provided and Venmo’s review process.

Can I increase my Venmo withdrawal limit beyond $999.99 per day?

Yes, by verifying your identity and linking a bank account, you can request higher limits. Contacting Venmo support can also help in increasing these limits.

Is there a way to expedite the verification process?

Ensure all information provided is accurate and complete. Additionally, use the same name and address as your bank account to avoid discrepancies that might delay the process.

What happens if I hit my Venmo limit?

Once you reach your Venmo limit, you will not be able to send or withdraw more money until the limit resets. Weekly limits reset every seven days from the date of your first transaction.

Conclusion

Increasing your Venmo sending limit and Venmo withdrawal limit is crucial for seamless transactions, especially for frequent users. By verifying your identity, linking and verifying your bank account, enabling two-factor authentication, and maintaining consistent use, you can significantly raise your Venmo limits. Additionally, contacting Venmo support can provide personalized assistance to further enhance your limits.

 

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