It is essential to understanding how to send money through Venmo

[Zara]

Venmo has revolutionized the way we exchange money, making transactions between friends, family, and businesses quick and effortless. Whether you’re splitting a dinner bill, paying rent, or sending a birthday gift, understanding how to send money through Venmo is essential. Below, we explore every facet of using Venmo for sending, receiving, and transferring money—including limits, fees, and more.

How Do You Transfer Money to Venmo

To transfer money to Venmo, users must first link a funding source. This can be a bank account, debit card, or credit card.

Step-by-step guide:

Open the
Venmo app and log into your account.
Tap on
the “☰” icon
and select “Manage Balance.”
Tap “Add
Money.”
Enter
the amount you wish to transfer.
Select
the linked bank account.
Confirm
the transaction.

The funds will typically be available in your Venmo balance within 1–3 business days.

Venmo Maximum Transfer Amount

Understanding the Venmo maximum transfer amount is crucial for both personal and business users. Here’s a breakdown:

Weekly Rolling Limit (Verified Accounts):
$60,000
Weekly Rolling Limit (Unverified
Accounts): $299.99
Bank Transfer Limit: Up to
$19,999 per week (instant transfer), capped at $5,000 per transaction
Standard Bank Transfers:
No set limit, but subject to account review and verification status

If you need to increase your limits, complete identity verification within the Venmo app.

How to Receive Money in Venmo

Receiving money is just as simple as sending it. To receive money in Venmo, follow these steps:

Share
your Venmo username, QR code, or linked phone number/email
with the sender.
Once
they send the money, you’ll receive a notification.
The
funds will appear in your Venmo
balance immediately.
You can
choose to keep the money in Venmo or transfer it to your linked bank
account.

You don’t need to take any additional steps to “accept” the money—Venmo does this automatically for you.

How to Get Money Out of Venmo

To get money out of Venmo, users have two primary options:

1. Standard Bank Transfer (Free)

Takes 1–3 business days
No fees
Steps:

Tap
“☰” >
“Manage Balance” > “Transfer
to Bank”
Choose
the amount and destination account
Select
“1-3 Biz Days”

2. Instant Transfer (Fee Applies)

Funds
available within minutes
Fee: 1.75% per transfer
(minimum $0.25, maximum $25)
Choose
“Instant” instead of “1-3 Biz Days” when transferring

Make sure your bank account supports instant transfers.

Maximum Amount You Can Venmo

The maximum amount you can Venmo depends on whether your identity is verified.

Unverified Accounts:
$299.99 per week for all transactions combined
Verified Accounts: Up to
$60,000 per week
Person-to-person payments:
$4,999.99 per transaction
Authorized merchant payments:
$6,999.99 per week

Verification can be completed in-app with a valid government-issued ID and Social Security Number.

Venmo Daily Limit Person to Person

The Venmo daily limit person to person is part of the weekly rolling limit. However, the platform sets transaction-specific caps:

Maximum
per transaction: $4,999.99
No
explicit “daily” limit, but you can send up to the transaction max as
often as your weekly cap allows

Large payments may require additional verification or get flagged for review.

Venmo Fee for Sending Money

Venmo is mostly free to use, but there are specific cases where Venmo fees for sending money apply:

Bank Account / Debit Card Payments:
Free
Credit Card Payments: 3% fee of the transaction
amount
Instant Transfer to Bank: 1.75% fee (min $0.25, max
$25)

To avoid fees, link your bank account or debit card rather than using a credit card.

Can You Transfer Money From Venmo to Cash App

Can you transfer money from Venmo to Cash App? Technically yes, but indirectly.

Here’s how to do it:

Link the
same bank account to both Venmo
and Cash App.
Transfer
money from Venmo
to your bank.
Once
funds are available, move them from your bank to Cash App.

Currently, there is no direct integration between the two apps, but this workaround is effective and secure.

How Much Money Can You Send with Venmo

How much money can you send with Venmo? Here’s a detailed breakdown:

Unverified Users: Up to $299.99 per week
Verified Users:

Person-to-person payments:
$4,999.99 per transaction
Total weekly limit:
$60,000
Merchant payments:
$6,999.99 per week

For larger transactions or business usage, verification is mandatory.

Transfer Money from Venmo to PayPal

Currently, there is no direct way to transfer money from Venmo to PayPal, but a workaround is available:

Link
the same bank account to both
Venmo and PayPal.
Transfer
money from Venmo
to your bank account.
Once
the funds settle, initiate a transfer
from your bank to PayPal.

Although not seamless, this process usually completes within 1–3 business days and allows full access to funds across both platforms.

Conclusion

Venmo offers a flexible, efficient, and user-friendly way to send and receive money. With options tailored for both casual users and business needs, understanding how to navigate the Venmo transfer process, limits, fees, and integration workarounds can help you get the most out of this popular platform. Always keep your app updated and complete your identity verification to enjoy higher limits and faster transfers.

FAQs

Q1: Can I send money internationally using Venmo?
No. Venmo is currently available only in the U.S. for domestic transactions.

Q2: What happens if I send money to the wrong person?
You must request the recipient to return the funds. Venmo does not guarantee refunds for incorrect transactions.

Q3: Is Venmo safe to use?
Yes, Venmo uses encryption and multifactor authentication to secure your data and transactions.

Q4: Can businesses use Venmo?
Yes. Business profiles are available and allow merchants to accept payments from customers.

Q5: Are there any hidden fees with Venmo?
While most transactions are free, using a credit card or instant transfer will incur fees. Review the fee schedule regularly.