Millions of people use the Venmo app to transfer money, split bills, and more. Venmo is a money transfer and payment app that lets you split bills, make payments, receive direct deposits, and transfer money. Users can buy, sell, and hold cryptocurrency and make in-store payments with the Venmo Debit Card or Venmo Credit Card. The company also offers business payment solutions.

Venmo was founded in 2009 and is headquartered in New York City. It’s currently only available to US residents. Use it to send money across the US, but you can’t use it to send international money transfers.

How do I request and send money through the Venmo app?

It’s easy to request and send money through Venmo. Here’s how it works:

How do I add funds to my Venmo account?

To transfer funds directly into your Venmo account, you must have a Venmo Debit Card. Transfers take three to five business days. There’s no option to transfer funds instantly.

If you don’t have a Venmo Debit Card, your account balance is any funds you’ve received through Venmo transfers from friends, assuming those funds haven’t been moved out of your account to a linked bank account or card.

Venmo limits

There is no Venmo limit per day. However, there are weekly limits to the amount of money you can transfer and withdraw from your account.

By default, the Venmo transfer limit for person-to-person transfers is $299.99 per week. When you verify your identity, the Venmo limit rises to $4,999.99 per week for person-to-person transfers and $6,999.99 for all types of Venmo transactions.

Verify your identity in the app, but you must have a Social Security number (SSN) or Individual Tax Payer Identification Number (ITIN). Usually, the process only takes a few minutes.

Withdrawals from Venmo to a bank account are limited to $999.99. Once you’ve verified your identity, the Venmo weekly limit raises to $19,999, or $2,999.99 for each transfer.

What happens when someone sends me money through Venmo

Funds sent to your account via Venmo will appear in your account balance. Payments that appear in green show money that has entered your Venmo account, while payments in red show money that has left your Venmo account.

Withdraw funds from Venmo to a bank account, credit card, debit card, or prepaid card. Prepaid cards must be branded by a network like American Express, Discover, Mastercard, or Visa. You can’t link a PayPal account to Venmo.

Follow these steps to withdraw funds from your Venmo account:-

Venmo fees

The following fees apply to personal nonbusiness Venmo money transfers:-

Fee type:-

Money transfer funded by Venmo balance, bank account, or debit card- Free

Money transfer funded by credit card- 3% of the transfer amount

Standard electronic withdrawal (1-3 business days)- Free

Instant electronic withdrawal (up to 30 minutes)- 1.5% (minimum $0.25, maximum $15.00)

Transaction declined (insufficient funds)-$0.00

Is Venmo international?

No. Currently, Venmo is only available to users who reside in the US, so you can only use it to send domestic money transfers. You can’t use Venmo to send an international money transfer.

Can I use Venmo for business?

Yes. Create a business profile with Venmo, so you can begin accepting payments from clients and customers online, in person, or via Venmo’s app. Payments work the same for both personal and business transactions, so customers can continue using the app as they normally would.

How do I contact Venmo?

Venmo has multiple articles online to help you find answers to the most commonly asked questions and issues. Otherwise, you can get in touch with Venmo customer service directly by filling out an online form on the company’s website.

Frequently asked questions:-

Q. What is Venmo’s transfer limit?

Users who haven’t verified their IDs can only send up to $299.99 per week. Send more by completing the in-app ID verification process.

Q. What’s the Venmo transaction fee?

There is no transaction fee or transfer fee for sending or receiving money using Venmo. There may be a fee for withdrawing funds to your bank account or card.

Q. Does Venmo pair with cash advance apps?

While not all cash advance apps are integrated with Venmo, there are quite a few of the top cash advance apps that work with Venmo.