Yes, you can increase your weekly limit on Venmo by completing the identity verification process. Venmo sets different limits based on whether your account is verified or not.
Here’s how you can increase your weekly limit on Venmo:-
Verify Your Identity:
Open the Venmo app.
Go to the "☰" menu.
Tap on "Settings."
Select "Identity Verification" and follow the prompts to complete the process. You may need to provide information such as your legal name, date of birth, social security number, and address.
Check Your Current Limits:
Before and after verification, you can check your current limits by navigating to "Settings" > "Payment Limits" in the Venmo app.
Venmo Limits Overview
Unverified Accounts:
Person-to-Person Payments limit on Venmo: $299.99 per week
Purchases (with authorized merchants): Combined $299.99 per week
Verified Accounts:
Person-to-Person Payments: $4,999.99 per week
Purchases (with authorized merchants): $6,999.99 per week
Combined Weekly Spending Limit on Venmo: $6,999.99
Verification significantly increases the amount you can send and spend, so it's a useful step if you plan to use Venmo more frequently or for larger transactions.