Venmo has become a popular payment platform, especially among younger users, for its convenience in splitting bills, sharing expenses, and transferring money. One of the features that Venmo offers is the Venmo Card, a debit card linked to your Venmo account. In this article, we will explore the limits associated with the Venmo Card Limit, particularly focusing on withdrawal limits.

What is the Venmo Card?

The Venmo Card is a Mastercard debit card that is linked to your Venmo balance. It allows you to make purchases anywhere Mastercard is accepted and withdraw cash from ATMs. The card is designed to provide Venmo users with more flexibility in using their funds.

Venmo Card Limits

Venmo imposes certain limits on the use of the Venmo Card to ensure security and compliance with regulatory requirements. These limits include daily and weekly withdrawal limits, transaction limits, and foreign transaction limits.

Daily Withdrawal Limit

The daily withdrawal limit for the Venmo Card is typically $400. This limit includes cash withdrawals from ATMs and over-the-counter withdrawals at banks or financial institutions.

Weekly Withdrawal Limit

The weekly withdrawal limit for the Venmo Card is set at $2,000. This limit is a rolling limit, meaning it is not reset at the beginning of the week but is based on the previous seven days of transactions.

Transaction Limits

For security reasons, Venmo also imposes transaction limits on the Venmo Card. You can spend up to $3,000 per purchase, and the total spending limit is $6,999.99 per week.

ATM Withdrawal Limits

Apart from the daily withdrawal limit, Venmo also has specific limits for ATM withdrawals. You can withdraw up to $400 per day from ATMs, with a limit of $40 per transaction.

Foreign Transaction Limits

If you use your Venmo Card for transactions outside the United States, you may be subject to foreign transaction limits and fees. Venmo charges a 3% fee for transactions made in a foreign currency.

Understanding Venmo Card Fees

While the Venmo Card offers convenience, it's important to be aware of the fees associated with its use. These fees include ATM withdrawal fees, over-the-counter withdrawal fees, and foreign transaction fees.

Increasing Venmo Card Limits

If you find the default limits on your Venmo Card to be restrictive, you may be able to request an increase in your limits by contacting Venmo support.

Security Measures

Venmo takes the security of its users seriously and has implemented several measures to protect your Venmo Card. These include real-time alerts for transactions, the ability to freeze your card if it's lost or stolen, and PIN protection for ATM withdrawals.

Managing Your Venmo Card

To make the most of your Venmo Card, it's important to manage it effectively. This includes monitoring your transactions, setting up alerts, and keeping your card secure.

FAQs

What is the maximum amount I can withdraw from an ATM with my Venmo Card?

The maximum amount you can withdraw from an ATM with your Venmo Card is $400 per day.

Can I increase the withdrawal limit on my Venmo Card?

Yes, you may be able to request an increase in your withdrawal limit by contacting Venmo support.

Are there fees for using the Venmo Card at ATMs?

Yes, Venmo charges a $2.50 fee for ATM withdrawals made outside of the MoneyPass network.

Can I use my Venmo Card for international transactions?

Yes, you can use your Venmo Card for international transactions, but a 3% foreign transaction fee will apply.

How can I check my Venmo Card limits?

You can check your Venmo Card limits by logging into your Venmo account and reviewing your card settings.

Conclusion

The Venmo Card offers a convenient way to access and use your Venmo balance for everyday purchases and cash withdrawals. However, it's important to be aware of the various limits and fees associated with the card to avoid any surprises. By understanding and managing these limits, you can make the most of your Venmo Card and enjoy a seamless payment experience.