What is Visa+?
Visa+ enables you to move money between platforms, like from Venmo to PayPal (or vice versa).
With Visa+, you can send and receive money to or from your Venmo and PayPal accounts, and even send money to other people. Transfers sent with Visa+ typically process within 30 minutes, and there aren't any fees.
Do I need to have a PayPal account to use Visa+?
You don’t need a PayPal account to use Visa+. As long as the person you are sending money to has an active Visa+ Payname, you can send them money from your Venmo account.
How much can I send or receive with Visa+?
Visa+ transfers have a $2500 limit per transaction. Transfers can be declined for reasons other than the limit.
Are there any tax liabilities I need to be aware of by using Visa+?
Currently, Visa+ is not meant for commercial transactions. You should talk to a financial advisor to learn more about your tax liabilities.
How do I deactivate my Payname? What does it mean to deactivate a Payname?
You can deactivate your Visa+ Payname in the Venmo app:
- Go to the Me tab
- Tap the Settings gear in the top right
- Tap Send & receive money with Visa+
- Tap the toggle to Deactivate your payname
When your Payname is deactivated, you will no longer be able to receive Visa+ payments. You will, however, be able to send Visa+ payments and send and receive other Venmo payments. You can reactivate your Visa+ Payname by following the same steps.