How Much Can You Send On Venmo? Find Out

How much money can you send on venmo? This has been one of the questions Venmo users ask on daily basis. Hence, this article have provided you guys with an answer to your question. Venmo daily limit, Venmo weekly limit, Venmo business account limit etc. Read on, to find out.

Have you ever tried sending money on Venmo and then all of a sudden you get an error message that you actually can not make that transfer? Or, that’ you have exceeded your daily/weekly limit.

Yeah, it has happened to a lot of us and not just you. And this is why keeping an eye on how much you can Send on Venmo will be a great deal as it would help you from overstressing yourself and probably kill the thought that someone might have tempered with your Venmo account or in the worst scenario, they might have hacked into it.

Well, in this article, we will be sharing with you everything that you should know regarding Venmo, how much can you send on Venmo, how much can I send on Venmo daily, and how much can you send on Venmo without being taxed and a lot of other benefits. 

And at the end of this article, we are quite certain that you will be more educated and know the limit on your Venmo account. So, without having to bore you with much of these stories, let us proceed;

How Does Venmo Work?

 

Venmo is an online payment network that has grown popular over the last couple of years. The payment system makes use of cashless and cardless technology. Similar to most other online payment networks such as PayPal, Cash App, and more, they allow users to make payment items, Send and receive payments from each other without any stress.

However, unlike most other online payment networks, Venmo does not work with businesses and brands as it only carries out transactions between one individual to another unlike its rival, PayPal which can transfer cash between businesses, organizations, and a lot of others.

There is a certain amount to which you can send on Venmo and later in this article, I will be answering the question of how much you can send on Venmo.

What Are The Requirements For Using Venmo

 

Before one gets to use Venmo to send money, there are a few requirements to using Venmo. Below are a few requirements for using Venmo to send money;

  • You must have a valid Venmo account
  • You must be physically located in the United States.
  • You must have a US phone number that can receive messages
  • Most importantly, you must be a minimum of 18 years old

How To Send Money On Venmo

 

There are quite a lot of methods available for one to send money on Venmo. Each method is based on the device being used. Below are the ways how to send money on Venmo;

 1. Using the Venmo Mobile App

 

This is probably the most popular and most used method available to send money on Venmo. Below are steps on how to send money on Venmo using the Venmo mobile app –

  • Open the Venmo mobile app. You can download the Venmo mobile app on the Google Play Store to your android device and from the Apple Apps Store to your iOS device.
  • Log in to your Venmo account
  • On the dashboard, click on “Send Money”
  • Enter the amount that you wish to send
  • Select the recipient that you wish to send the money to
  • Click on Send
  • Select the payment method that will be used for the transaction
  • You can add a transaction message
  • Click on Send

You should be notified about the transaction

 2. Using A PC 

 

Also, using your PC, you can send money on Venmo from one person to another. Below are steps on how to send money on Venmo using a PC –

  • Visit the Venmo official website at www.venmo.com
  • Log in to your Venmo account
  • Click on the Menu
  • On the Menu, click on “Send Money”
  • Enter the amount that you wish to send
  • Select the recipient that you wish to send the money to
  • Click on Send
  • Select the payment method that will be used for the transaction
  • You can add a transaction message
  • Click on Send

You should be notified about the transaction

How Much Can You Send On Venmo?

 

Venmo, like most other online payment networks, has a maximum amount that you can send. Upon signing up on Venmo.

You can only send a maximum of $299.99 to someone. And after you must have confirmed your identity, thereby validating the account, your Venmo sending limit increases to $4,999.99

How Much Money Can You Send On Venmo Daily?

 

Based on the fact that you have a $299.99 weekly sending limit on Venmo for an unverified Venmo account and a $4999.99 weekly sending limit for a verified Venmo account. The average spending limit daily on Venmo for an unverified Venmo account is $48.8 and the average spending limit for a verified Venmo account is $714.22.

However, it is important to note that this fee is just an estimation and the average amount that you can send on Venmo.

Although you can send even the maximum amount of $299.99 for an unverified Venmo account or $4999.99 for a verified Venmo account which is all weekly limit in just one day.

Venmo Alternatives That You Can Also Use To Send Money

 

The emergence of a cardless and cashless type of transaction has become a major trend in the day-to-day lives of a lot of people. 

A lot of companies had taken advantage of this technology. Below are a few Venmo alternatives that you can use to send money –

  • PayPal
  • Zelle
  • Payoneer
  • And a lot more…

FAQ’s

Can You Send $2000 Over Venmo

 

Yes, you can send over $2000 on Venmo. This can be done outright on the verified Venmo account or partly until it is done in an unverified Venmo account although this might take long and probably, a couple of weeks.

LEARN MORE;

Can You Send Money On Venmo Daily?

 

Yes, you can send money to Venmo daily. Earlier in this article, I have shown you how to send money on Venmo and also, the maximum amount that you can send on Venmo daily.

How Much Can You Send On Venmo Without Being Taxed?

 

On Venmo, you can send below the sum of $600 without being taxed. To send a huge amount of money on Venmo, one will have to pay the taxation fee. This is based on the United State laws on taxation.

Can You Send Money On Venmo For Free?

 

Yes, you can send money for free on Venmo. Although over time, you might have to pay for bulk transactions as messages fees, and a few other bills might accumulate.

Does Venmo Have A Limit To How Much I Can Send?

 

Yes, Venmo has a limit as to how much you can send on their online payment network. As I had earlier highlighted, a limit of $299.99 is placed on an unverified Venmo account if you want to send cash. Or $4999.99 on a verified Venmo account if you want to send cash.

Can I Send A Large Amount Of Money To Someone On Venmo

 

Depending on what type of “a large amount of money” you mean. You can send a large amount of money to someone on Venmo. However, cash above $4999.99 can not be sent at once in a week on a verified Venmo account. Or above $299.99 in a week on an unverified Venmo account.

Do You Need A Bank Account For Venmo?

 

Not exactly, Venmo acts like a bank account in some way. Although a bank account will give you more options to send money on Venmo when you will be asked to choose the payment method. But Venmo can actually act as a bank by storing your cash.

Conclusion

 

Venmo is one of the easiest ways to send money online. And in this article, we have shown you how to send money on Venmo. And along with that, answer a lot of questions that you might have had regarding Venmo. This will include “how much can you send on Venmo“, “does Venmo have a limit to how much money I can send?” And a lot of others.