Venmo has different weekly limits depending on whether your account is verified or unverified. As of 2023, here are the basic guidelines for the weekly Peer-to-Peer (P2P) limits:
Unverified Accounts:
The sending limit is typically lower, usually up to $299.99 per week.
Verified Accounts:
The standard Venmo weekly sending limit for verified accounts is $19,999.99.
The Venmo maximum limit for a single P2P transaction is $4,999.99.
Regarding whether bank transfers count toward the P2P limit:
Bank Transfers:
Bank transfers do not count toward the P2P limit. The P2P limit is only applicable when you're sending funds from one Venmo account to another.
When you transfer money from your Venmo account to your bank account, there's usually no limit, though there might be a cap on how much you can transfer instantly or how quickly funds are deposited.
To check your current limit for Venmo:
Open the Venmo app and go to "Settings."
Tap "Payment Limits" to view your current sending limit on Venmo.
For more detailed information, it's best to check Venmo's Help Center or contact their customer support. They can provide the most updated information on limits and how they apply to various types of transactions.