Money transfers are becoming increasingly popular nowadays.
Whether you're looking to make a simple payment or shop your favorite items online, you'd typically use a money transfer service to complete the transaction.
Varo is an online-only bank account that lets offers banking services among which are checking accounts, debit cards, and money transfer facilities.
Varo also offers financial aid through Varo Advance which lets eligible users borrow money from Varo.
Varo Advance is an alternative to cash advance apps that work with Varo.
Venmo on the other hand is one of the popular payment services in the U.S., and following its numerous benefits, most users are wondering how to transfer money from Varo to Venmo.
To address this issue, we'll see how to transfer money from Varo to Venmo without hassle.
Table of Contents
What is Varo?
Varo Bank is a mobile-only bank account app that uses cutting-edge technologies to assist customers improve their financial situation. Varo Bank provides consumers with the following features in addition to an easy design and user experience:
- Safe and "branchless" banking
- Early direct deposit
- No monthly bank fees
- No hidden fees
- No minimum balances
- 55,000+ Allpoint® ATMs in places you already shop like Target, Walgreens, and CVS
- High-yield savings accounts
- Tools to help you build up your savings automatically like Save Your Change and Save Your Pay
- Friendly Utah-based customer service available seven days a week (except federal holidays)
- Contactless payments with your Varo Bank debit card
Varo Bank Accounts are offered by Varo Bank, N.A., and deposits are protected by the Federal Deposit Insurance Corporation (FDIC) up to $250,000 through Varo Bank, N.A.; Member FDIC.
Early access to direct deposit funds is contingent on the timing of the payer's deposit submission.
We usually post such deposits the same day they arrive, which could be up to two days before the payer's scheduled payment date.
Non-Allpoint ATM owners may impose a fee for ATM withdrawals, however at over 55,000 Allpoint ® ATMs, Varo does not.
Varo costs $2.50 for cash withdrawals made at non-Allpoint® ATMs.
What is Venmo?
Venmo is a service that allows you to send and receive money from your friends.
Venmo is a social payment app that allows you to pay your friends when you owe them money but don't want to deal with cash. For instance:
- Splitting a lunch bill
- Paying your friend half of a cab fare
- Sending your roommate your half of the rent
Venmo can also be used to make purchases with authorized merchants. For example:
- Using the Venmo Mastercard Debit Card anywhere in the U.S. where Mastercard is accepted
- Using Venmo as a payment method in authorized partner apps or mobile websites
- Using in-store QR codes to complete purchases with Venmo
Venmo should not otherwise be used to complete purchases unless explicitly authorized by Venmo.
Does Varo Bank Work With Venmo?
Yes, Varo Bank does work with Venmo.
Varo officially announced that you can use your Varo bank at Venmo.
As per Varo support, "you can add your Varo Bank Account as a payment method for Venmo, and you can transfer money from Venmo to your Varo Bank Account via ACH transfer or instant transfer."
However, you should keep in mind that Varo Bank does not manage any links to external services.
Can You Transfer Money From Varo To Venmo?
Yes, you can transfer money from Varo to Venmo.
All you need to do is to link your Varo bank account to your Venmo account and verify it.
Afterward, transferring money from Varo to Venmo will be an easy task.
How to Transfer Money From Varo To Venmo
There are three steps involved in transferring money from Varo to Venmo.
The first step will be to add your Varo bank account to Venmo, the next will be to verify your Varo account at Venmo and the last step will be to transfer money from Varo to Venmo.
1. Add/Link Your Varo Bank Account to Venmo
Venmo supports Varo bank accounts which means, linking your Varo account to Venmo is as easy as linking any U.S. bank account.
In this case, you will need your Varo account number and routing number.
Here's how to link your Varo bank account to Venmo.
- Go to the "Me" tab by tapping your picture or initials
- Tap the Settings gear in the top right then "Payment Methods"
- Tap "Add a bank or card..." and then select "Bank"
- Select your preferred verification method
Do not enter the check number that appears after your account number if you opt to add your bank account manually.
Your bank may refuse or fail your transfer as a result of this. Additionally, if you manually add your bank account to Venmo, Venmo sends you micro transfers to verify ownership (each of which will be $1 or less).
Make sure you have at least $2 in your bank account to avoid overdrafts or other bank fees.
2. Verify Your Varo Bank Account At Venmo
Venmo strongly recommends users verify their bank accounts once they link them to Venmo.
Verifying your bank account at Venmo will avoid the risk of facing complications during the transfer of funds.
If you've entered the wrong account information, a couple of things could happen:
- Your bank will not be able to find your account and your bank transfer will fail. The money may be returned to us after a few days and put back into your Venmo account, but we cannot guarantee that will happen.
- If the bank does not return the transfer, the funds may be lost. Venmo is not responsible for lost transfers as a result of incorrect bank credentials. Your bank will be the best point of contact in this scenario.
There are two ways you can verify your bank account in Venmo:
a) Instant Verification
The username and password that you use for online banking are one way to verify your bank account.
Plaid is used by Venmo to validate your bank account details and, on a regular basis, your bank account balance in order to ensure that you have enough funds to cover specific transactions.
After you've chosen your bank, you'll be asked to provide your online banking login and password (or other identifying information) if your bank is eligible for instant verification.
If you're experiencing difficulties doing this, the best thing you can do is contact Varo Bank.
You can always manually add your bank account using your routing and account number combination in the meanwhile.
Simply choose "Manual Verification" over "Instant Verification" and you'll be good to go.
Venmo will send micro transfers to your bank account to verify ownership (these will be less than $1 apiece) when you manually add your bank account to Venmo (with your routing and account number).
When we make these micro transfers to your account, we make two little withdrawals and then make two small deposits to counterbalance those withdrawals.
Make sure you have at least $2 in your bank account to avoid overdrafts or other bank fees.
Within 1-3 business days, you'll notice these deposits/debits on your bank statement as separate items. After that, go to this page to verify your bank account.
If the sums haven't appeared after three business days, it's possible that the bank account information was entered incorrectly.
3. Transfer Money From Varo To Venmo
Once you've linked and verified your Varo bank account at Venmo, the last thing to do will be to transfer money from Varo to Venmo.
This process is as easy as adding money from any U.S. bank account to your Venmo account.
To do so:
- Go to the "Me" tab and tap "Manage Balance" in the Wallet section.
- Select Add money.
- Select From bank or debit card.
- Enter your amount and choose your Varo bank account as a funding source.
- Tap "Add."
- Wait for your funds to arrive at your Venmo balance.
How Long Does it Take to Transfer Money From Varo to Venmo?
It usually takes 3 to 5 days for the money transferred from Varo to arrive at your Venmo balance.
When transferring money from Varo to Venmo, it's important you keep in mind the following.
- The timing of your transfer can be impacted by several factors, such as weekends or holidays
- You may see a completed charge in your bank account while the transfer is processing and before those funds reach your Venmo account
- You can check the status of your transfer in the Venmo app in your personal transactions feed under the "Me" tab.
- How to Get Money from Venmo Without Bank
- How To Withdraw Money From Venmo Without Card
- How To Withdraw Money From Varo Without Card
- How to Send Money from Venmo to PayPal
- How to Transfer Money from Venmo to Cash App
- How to Transfer Money from Venmo to PayPal
- How To Transfer Money From Venmo To Debit Card Instantly
Frequently Asked Questions
Can I send money from Venmo to Varo?
Yes, you can send money from Venmo to Varo. In fact, you can make instant transfers from Venmo to your Varo debit card.
How do I instant transfer from Varo?
You cannot make an instant transfer from Varo to your external account (bank account). However, you can use the Move Money feature to transfer money from Varo. To do so; open the Varo Bank app and tap Move Money > Transfer Money > Transfer Money.
Can Varo send money to Zelle?
Yes, Varo does work with Zelle. You can access Zelle directly from the Varo mobile app and transfer money with just a few taps.
Varo and Venmo are two financial apps that ease the online transfer of funds from one user to the next.
Venmo supports Varo which means you can add your Varo bank account to your Venmo account and transfer funds between both apps or use your Varo bank balance for your transactions with Venmo.