What is the Maximum Daily Withdrawal Limit for a Venmo Card?

 

Venmo has become a household name for easy and fast peer-to-peer transactions. But beyond sending money to friends or family, Venmo offers a convenient debit card that allows users to access their funds directly. In this comprehensive guide, we will explore the maximum daily withdrawal limit for a Venmo card, as well as other crucial details you need to know about using your Venmo debit card effectively.

Venmo Debit Card Withdrawal Limit

The Venmo debit card offers a straightforward way to withdraw cash from your Venmo balance at ATMs. As of the latest update, the maximum daily withdrawal limit for a Venmo debit card is $400. This limit is set to ensure security and manageability of funds. It's essential to note that this limit is per day, and resets every 24 hours.

Understanding the Limits

• ATM Withdrawals: You can withdraw up to $400 per day at any ATM that accepts Mastercard.
• Over-the-Counter Withdrawals: If you prefer withdrawing money inside a bank, you can do so over the counter. The same daily limit of $400 applies.

Where Can I Withdraw Money from Venmo for Free?

Finding fee-free ATM withdrawals can save you money in the long run. Venmo cardholders can withdraw money without fees at ATMs within the MoneyPass network. It's a vast network, so you will likely find a convenient location near you. However, using out-of-network ATMs will incur a standard fee, typically around $2.50.

How to Find a MoneyPass ATM

1. MoneyPass ATM Locator: Use the MoneyPass website or mobile app to locate nearby ATMs.
2. Venmo App: Sometimes, the Venmo app may provide information about fee-free ATM locations.

How to Withdraw Money from Venmo Without Card

If you find yourself without your Venmo debit card but need access to your funds, there are several methods to withdraw money:

1. Transfer to a Bank Account: The most straightforward method is to transfer your Venmo balance to your linked bank account. This process can take 1-3 business days.
2. Instant Transfer: For a small fee (usually 1% of the transfer amount), you can instantly transfer your Venmo balance to a debit card.
3. Send Money to a Friend: You can send the desired amount to a friend or family member and ask them to withdraw it for you.

Can I Use My Venmo Debit Card Before It Arrives?

The Venmo debit card must be physically present to be used for ATM withdrawals or in-store purchases. Therefore, you cannot use it before it arrives. However, you can still use your Venmo balance for online transactions or transfer the funds to your bank account while waiting for your card.

How Much Money Can I Withdraw from My Venmo Card?

As mentioned, the maximum amount you can withdraw per day using your Venmo debit card is $400. This applies to both ATM and over-the-counter withdrawals.

How Much Can You Withdraw from Venmo Debit Card Per Day?

To reiterate, the daily withdrawal limit for the Venmo debit card is capped at $400. It is crucial to plan your withdrawals accordingly, especially if you need more cash over a short period.

Additional Limits to Consider

• Purchase Limit: You can spend up to $3,000 per day on purchases using your Venmo debit card.
• Reload Limit: If you have opted for automatic reloads from your bank account to your Venmo balance, the limit is $500 per week.

How to Manage Your Venmo Card Effectively

Managing your Venmo card involves being aware of your limits and using the card in the most efficient way possible. Here are some tips:

Monitor Your Transactions

Regularly check your transactions through the Venmo app to ensure all withdrawals and purchases are accurate. This can help you stay within your limits and avoid any unexpected fees or blocks on your card.

Use In-Network ATMs

To avoid fees, always try to use MoneyPass ATMs. This can save you money in the long run, especially if you withdraw cash frequently.

Keep Track of Your Spending

Keep an eye on your spending limits. If you plan to make a large purchase, be aware of your $3,000 daily spending limit to avoid declined transactions.

Enable Notifications

Turn on transaction notifications in the Venmo app. This feature will alert you to any withdrawals or purchases made with your card, helping you track your spending in real time.

Conclusion

The Venmo debit card is a convenient tool for accessing your Venmo balance on the go. Understanding the maximum daily withdrawal limit of $400 ensures you can manage your finances effectively and avoid any unexpected issues. By utilizing in-network ATMs, monitoring your transactions, and being aware of your card limits, you can make the most out of your Venmo debit card.