You’ve got five ways to make deposits:
- Direct deposit of paychecks, benefits or other payments
- Transfers from an external bank account
- Transfers from digital wallets like Paypal, Square and Cash App
- Mobile deposit of paper checks
- Cash deposit
1. Direct deposit of paychecks, benefits or other payments
You can set up direct deposit to your Varo Bank Account for paychecks, government benefits and other payments, like Airbnb income, an insurance payment or a Stripe transfer. Plus, you can get Your paycheck up to two days early with direct deposit.1 Here’s help with setting it up.
Varo also accepts Instant Pay from Uber and Express Pay from Lyft.
1Faster access to funds is based on comparison of traditional banking policies and deposit of paper checks from employers and government agencies versus deposits made electronically. Direct deposit and earlier availability of funds is subject to payer’s support of the feature and timing of payer’s funding.
2. Transfers from an external bank account
There are two ways to make a transfer from an external bank account to your Varo Bank Account:
- Transfer right in the Varo app.
- Transfer through your other bank’s online banking tools.
Transfers through your other bank, called ACH transfers, can take 1–4 business days and require verification that you own the other account before you start. Verification involves either entering your login credentials or confirming you received two small test deposits of a few cents each to make sure the two banks are linked properly before transferring money. Here’s help with external transfers.
3. Transfers from digital wallets like Paypal, Square and Cash App
Setting up transfers from digital wallets is easy. Just follow the instructions in the wallet’s mobile app or website.
Here’s what to consider before transferring from digital wallets:
- Do you need to move money right away? Some digital wallets can do instant transfers for a small fee—check with them to know what their fee is. For an instant transfer, you’ll need to provide your Varo Visa® Debit Card number.
- Can you wait a couple days to move money? Then you can do it for free with an ACH transfer from a digital wallet.
To set up an ACH transfer, connect your digital wallet to your Varo Bank Account using your Varo account number and routing number. Find those numbers in the Varo app by tapping Move Money > Direct Deposit. This transfer typically takes 1–2 business days and may require a verification process to start.
4. Mobile deposit of paper checks
You can deposit checks by taking two photos in the Varo app. Tap Move Money > Deposit a Check. Find a limit for how much you can deposit through the app in the Deposit a Check screen. Limits may change based on how long your Varo Bank Account has been opened and prior account activity. Here’s help with depositing a check.
Keep in mind, your check deposit might not hit your account in the same day. It depends on when you deposit it.
5. Cash deposit
You’ve got two ways to deposit cash into your Varo Bank Account:
- Deposit cash when you check out at thousands of Green Dot® Network locations nationwide, like Walmart, CVS, Rite Aid, Walgreens, 7-11, Dollar General, Family Dollar, Kmart and Kroger.
- Deposit cash by purchasing a Green Dot MoneyPak® at most of those same stores.
When you deposit cash at checkout: We’ll make the deposit available as soon as Green Dot sends it to us—usually within 10 minutes. At some Green Dot retailers, it can take up to one hour. We don’t charge a fee, but the store will charge a fee of up to $4.95. Get more info here about Green Dot, including store locations.
When you deposit cash with a MoneyPak: You’ll purchase a MoneyPak and create an account to complete the deposit. We don’t charge a fee, but the MoneyPak will cost $5.95. Get more info here about MoneyPak.