There are a couple ways!
The easiest way to add money to your Varo Bank Account is by setting up direct deposit with your employer. To make setting up direct deposit easy, you can find a pre-filled direct deposit form in your app by tapping on "Move $" and then on "Direct Deposit Form." From there, you can download or print the form by tapping the icon in the top right corner.
Initiating a Transfer in the App
You can also transfer money into your Varo Bank Account from one of your linked accounts right in the app. To do this, just:
- Tap "Move $" and then on "Transfer From"
- Tap on the account you want to transfer from
- Enter the amount you want to transfer and press "Submit"
If the account you want to transfer money from is labeled as “Unverified,” we will need to verify your account by sending two small deposits to that account that you will need to confirm later. This helps us set up a secure connection with your outside account.
Initiating a Transfer through Your Other Bank Accounts
Another way to add money to your Varo Bank Account is to initiate a transfer through another bank account, PayPal, or Venmo to Varo. While this process varies based on the bank, you will need to provide the Varo routing number (031101279) and your Varo Bank Account number to initiate the transfer. You can find your Varo Bank Account number at the bottom of the “Move $” tab in the app.
From there, your bank will be asked to submit trial deposits (typically two deposits less than $1) to your Varo Bank Account, which should show up in 1-2 business days. After locating the trial deposits, go back to your other bank (or PayPal or Venmo) and confirm these amounts. Once confirmed, you can then transfer funds into your Varo Bank Account. Typically the money will arrive in 1-2 business days.
In the near future we plan to add additional funding capabilities, including Mobile Deposit. Stay tuned!