Getting Around The Venmo $2,500 Weekly Transfer Limit - Random Life Hack Number Four Thousand Four Hundred Thirty (rlh#4430)
If you conduct banking or perform small transactions in the US and you haven't heard of Vemmo, I strongly suggest you check out their service.
Free online transfers (next business day), which can be INSTANT for trusted* accounts!
Now to the good stuff.
- Venmo has a $2500 weekly payment limit per user account.
- Multiple Venmo accounts.
- Open your first Venmo account using only checking account numbers and routing numbers (no plastic card numbers).
- Open your second Venmo account using the same checking accounts, but with the debit/check card numbers (no checking account numbers and routing numbers).
- You will need to have available an additional phone number (try Google Voice), and Facebook account (just use a secondary email account) for verification.
And with that- you have $5,000 per week ability to pay Vendors or transfer between your own accounts, FREE OF CHARGE. That's no minor thing in a world of out-of-control & impossible-to-understand bank fees.
In theory, although I haven't tested this, two additional accounts could be opened using the same method with a spouse or additional account signer, increasing your free money maneuverability to $10,000 per week.
*If you're interested in more background on Venmo, "trusting" accounts (tip: don't ever trust an account that you don't own!), deactivating the social/sharing features for privacy, and information on the service in general, post a comment and I will answer as soon as my schedule allows.