Looks like all the previous Venmo threads are archived so: Do you limit how much money I can spend using my card? Last Updated: Apr 24, 2013 11:26AM EDT Yes, there are limits on how much money users can transact using a card on Venmo. While we encourage users to use Venmo for all their payment needs, a few limits exist on our system that might affect our users when trying to make payments.
All users have a $3,000.00 per week limit on payments.(bolding theirs)
This means that you can send up to $3,000.00 per week to your friends on Venmo. Why do we have limits? Transaction limits help us screen for suspicious activity so that we can protect your financial security. Also, they help us keep our costs down, so that we can continue to provide an awesome, free service for our users!
Please note that the maximum cash out amount is $5,000.00, but we do not have limits on how many cashouts you can perform.
But the not so good news: Limit on the Number of Cards Allowed
Venmo permits users to add 3 cards over a 6 month basis. If you have added three cards within the rolling 3 month period, you will be blocked from adding a fourth. Deleting one of the cards you have on file and then trying to add a fourth card will not work. If you absolutely need to add more cards to your account within the rolling 3 month period, please email us with a detailed explanation of why you require an additional card. Note that they refer first to a 6 month period, then multiple times to a 3 month period. Not sure which it is.
Thanks to Travelomania on FT and to Frequent Miler's blog for posting info leading to this.
3% for CC. Free for "debit". I have not used the service in months, since they first implemented fees, so while I can't personally confirm what they do and do not consider a debit, hopefully it's anything with a PIN.
Senior Member - 2K
posted: May. 5, 2013 @ 8:05p
Do they have a max expiration date for "debit cards"
I had this same experience. I'm new to Venmo - so this might have been mentioned before, but I also tried to add a VGC from GCM (MB) and although it accepted it, it told me that "free" sending wasn't available from that card, and if I wanted to use it I would be charged the 3%.
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