Venmo has increased the person-to-person sending money limit to $4,999.99. Previously the limit was $2,999.99.
Lots of people are paying others virtually now, so this is useful. Some people like using Venmo (or similar service) when paying others even though it incurs a 3% fee as a means of meeting a spend requirement.
Looks like they also increased the merchant limits and the Venmo Mastercard limits as well.
Hat tip to nickgog90
