diff --git a/src/CONST.js b/src/CONST.js
index 44339ca93f76..0521ee4997a0 100755
--- a/src/CONST.js
+++ b/src/CONST.js
@@ -362,7 +362,7 @@ const CONST = {
             PAYPAL_ME: 'PayPal.me',
             VENMO: 'Venmo',
         },
-        AMOUNT_MAX_LENGTH: 14,
+        AMOUNT_MAX_LENGTH: 10,
     },
 
     GROWL: {
diff --git a/src/pages/iou/steps/IOUAmountPage.js b/src/pages/iou/steps/IOUAmountPage.js
index b3b7b8655a87..da49f58e0284 100755
--- a/src/pages/iou/steps/IOUAmountPage.js
+++ b/src/pages/iou/steps/IOUAmountPage.js
@@ -101,7 +101,7 @@ class IOUAmountPage extends React.Component {
      */
     validateAmount(amount) {
         const decimalNumberRegex = new RegExp(/^\d+(,\d+)*(\.\d{0,3})?$/, 'i');
-        return amount === '' || (decimalNumberRegex.test(amount) && amount.length <= CONST.IOU.AMOUNT_MAX_LENGTH);
+        return amount === '' || (decimalNumberRegex.test(amount) && ((parseFloat(amount) * 100).toString().length <= CONST.IOU.AMOUNT_MAX_LENGTH));
     }
 
     /**