Unlocking Your Venmo Potential: How to Increase Account Limits

Hey there! Do Venmo limits ever frustrate you when trying to pay rent or split that group dinner? You‘re not alone. Plenty of users hit annoying payment ceilings – especially those without identity verification.

But don‘t worry! In this epic guide, you‘ll learn how to take total control over Venmo account limits. I‘ll walk you step-by-step through:

What Venmo limits are and how they work
How to calculate your weekly limit renewal dates
Verifying your account to increase limits
Standard vs. upgraded limits across Venmo accounts
Troubleshooting declined payments

Follow along to transform how you use Venmo. Let‘s dive in!

Here’s the Deal with Venmo Limits

First – what exactly are Venmo spending limits? And why do they exist in the first place?

Venmo limits refer to the maximum amounts you can transact within the app per week. They act as a security measure to prevent fraud.

For example, say you have a brand new Venmo account. Without providing any identity details, you could potentially use stolen payment cards or bank accounts to move money illegally.

That‘s why Venmo applies default limits until you verify yourself as a legitimate user.

But once properly identified, Venmo feels comfortable letting you spend more freely. That‘s because now they have your legal details on record if any shady activity arises.

Make sense? Cool, let‘s look at what common Venmo limits actually are.

Default Personal Account Limits

If you‘re on a personal Venmo account, here are the key weekly limits before ID verification:

$299.99 – Maximum spent sending/receiving per week
$299.99 – Total weekly purchases (in-app, QR code, debit card)

So as you can see, it‘s pretty restrictive until you become a “verified” Venmo user.

Business accounts actually get slightly higher base limits:

$2,499.99 – Maximum amount spent per week

And quick note – Venmo calculates limits on a rolling weekly basis. More on what this actually means later when we talk limit calculations.

First, let‘s get you verified and watch those limits skyrocket! 🚀

Step-by-Step Venmo Verification Instructions

Completing Venmo‘s identity verification process is your ticket to unlimited payments. Just follow these few simple steps:

Step 1: Tap Your Profile Pic to Access the Menu

Open your Venmo app and tap your profile picture in the top-right corner:

[Screenshot tapping profile pic to open menu]

This will slide open the left-hand menu.

Step 2: Select “Settings”

From the menu, choose the Settings option (second from the bottom):

[Screenshot selecting Settings]

Step 3: Tap “Verify Identity”

Scroll down and tap Verify Identity under the Security section:

[Screenshot selecting Verify Identity]

This is the magical option that will unlock your full account potential!

Step 4: Submit Your Information

Follow the on-screen prompts to provide personal details like:

Full legal name
Physical address
Last 4 SSN digits
Date of birth

You may also need to upload images of things like:

Driver‘s license
Passport
Recent pay stub

Basically, Venmo wants to confirm 100% that you are who you say you are.

Step 5: Wait for Approval!

Submit your details and then wait up to 3 days for Venmo to verify everything.

You‘ll get an official approval email once your account shifts into verified status. Then you can really start maximizing your payments! 💸

See – simple as that! Now let‘s explore what happens to those account limits once you‘re verified…

Say Goodbye to Limits: Standard vs. Verified

Check out the limit differences in this handy table:

Type	Standard Limit	Verified Limit
Personal Weekly Spend	$299.99	$60,000
Personal Weekly Purchases	$299.99	$7,000
Business Weekly Spend	$2,499.99	$25,000

As you can see – verification explodes your weekly Venmo limits!

With ID confirmation, personal accounts can spend $60,000 weekly on transfers – a 200x increase!

Your combined purchasing limit also jumps to $7,000 per week from the base $299.99.

And verified business accounts unlock a 10x higher $25,000 weekly expenditure ceiling. Pretty sweet! 📈

Now you have the inside scoop on how identity verification completely transforms possible Venmo transaction volumes.

Of course – higher limits only help if you know precisely when they renew each week…

Calculating Your Weekly Limit Reset

Here is a super important thing to understand about Venmo limits:

They reset on a per-user rolling weekly basis rather than fixed days.

Let me explain…

Imagine you made your most recent Venmo payment on a Wednesday at 5:00pm. This means:

Your current weekly limit period started that Wednesday at 5:00pm
Next Wednesday at 5:01pm, your limit resets for the new week

See the difference? Instead of renewing every Sunday or Monday like a bank, your Venmo limit is on a custom per-user timeline.

So in the example, if you hit your $299.99 maximum on Monday morning, you‘d still need to wait until the following Wednesday for it to replenish. 🕰️

When first getting used to Venmo, I‘d often run out of limit mid-week and frustratingly wonder why I couldn‘t spend more. But once you get in the habit of noting limit reset dates, you‘ll never run into problems.

Now let‘s cover why Venmo might decline your payments – even with high limits…

Why Did Venmo Decline My Money Transfer? 🚫

Few things make you curse at your phone like seeing the "Your payment was declined" notice on Venmo.

But before you panic – don‘t worry. Declined payments on Venmo usually point to an easy fix instead of a major issue.

Here are the most common reasons you might get abruptly rejected:

Exceeded your weekly Venmo limit – Carefully track your limit renewal date and wait it out
Issues with your linked payment source – Update bank account or card details with Venmo
Recipient has account troubles – Have recipient contact Venmo Support
Suspected fraudulent payment – Provide Venmo additional details about the transfer

As long as you keep up-to-date on weekly limits and payment sources – you should avoid most declines.

But if one still sneaks through – contact Venmo Support via in-app chat, Twitter, email. Their customer service team is generally quick to identify and resolve payment problems.

Alright, let‘s wrap things up with a quick limit recap!