Transferring money between Varo & Venmo companies is now just a matter of one wish. People are now so busy that they can’t deal with the paperwork of the traditional bank counters while withdrawing or depositing their money. Why would you use it if there was an option in your hand that let you deal with money transactions just by tapping on your phone screen?
Go for the banking hassle. Varo and Venmo are the apps that allow users to deposit, transfer, and receive money from one account to another. The fintech apps have every option to perform these transactions between their own and other apps. For example, a Varo account holder can transfer money to another Venmo account. This is the blessing of technology and understanding between fintech companies.
The transfer process is very simple. You will need the Venmo app to be installed on your smartphone. Also, keep a note of the Varo account details, such as the account number and the routing number, in your Varo account. You can have the Varo app on your phone to get the extra advantage. Venmo requires users to add their Varo account to the Venmo app as a payment method. Then you can transfer the money from Varo to Venmo. Verified customers can perform the transaction except for the Add Balance feature. So better verify your Venmo account to get this advantage as well.
Step by step guideline for transfer money from Varo to Venmo
Transferring money from Varo to Venmo is not that complex. All you need to do is install the Venmo app and provide details of the Varo account. The very first way to transfer money from Varo to Venmo is by adding the Varo bank account to the Venmo account. So that you can easily transfer money from Varo to Venmo. Venmo will move the balance in your Varo checking account to your Venmo account. Venmo users who are not verified can still transfer funds between Varo and Venmo, but they cannot add balances. Verified Venmo balances and Venmo debit cards are only available to verified Venmo users. Those who have not been verified can add a Varo debit card as a payment method and make payments via Venmo using their Varo debit card.
Now, let’s follow some steps to add or transfer money:
- First, turn on the Venmo app on your mobile phone.
- There you will find the Menu tab. Tap on it.
- Go to the Setting option
- There will be Payments Method, then select it.
- Either choose Bank or Card
- Then the terms of Add Bank (which bank you want to add)
- Tap Instant Verification fora simple verification process.
- Select Continue to process
- Again, select Continue for further processing.
- Search financial institutions If you get to Varo Bank then select it.
Now, your Venmo account is linked to your Varo account. Just follow the steps below to transfer money between Varo and Venmo.
- Now log into your Varo account
- You should complete the Verification Process
- Select the Next tabto proceed.
- Now, go to Venmo’s homepage. Hereyou will get the details.
- Tap on the Menu Bar
- Tap on Manage Balance
- Choose to Add money
- Enter an Amount that you transferred.
- Tap on Done
- Choose your Varo account.
- Press Next
- Finally, tap on Add Money
Varo can be linked to other digital wallets like Venmo. But with Venmo, Varo works better because Venmo ensures a great app experience for money transfers.
is it possible connect Venmo to my Varo Bank Account?
Yes, it is possible to connect Venmo from Varo to Venmo. After connecting Venmo to the Varo account, you can transfer money via ACH transfer or wire (instant) transfer. ACH (Automated Clearing House) will move the funds from the bank account to another bank account. It helps send and receive money safely and securely. In that case, you don’t need any type of paper check or stamp. You just need to set up your Varo bank account along with a routing number. Usually, transferring funds between two accounts takes 1 to 2 business days. On the other hand, a wire transfer allows you to get funds within a few hours or less. Though wire transfer requires fees, ACH doesn’t. Basically, Varo doesn’t charge fees for making instant transfers, but Venmo does. Remember, ACH transfers require a verification process regarding transfer issues.
Difference between transfer money from Venmo to Varo bank account and transfer money from Venmo to Varo Debit Card
There are certain differences between transferring from Venmo to your bank account and using your Varo Bank Visa Debit card. The Varo Bank account can take a few days to transfer funds, but they don’t charge any fees. In contrast, you can transfer money to your Varo debit card instantly with Varo debit card instant transfers. Though Varo Bank Account doesn’t charge fees, the Varo Bank Visa Debit Card does. Usually, speed transfer depends on the Venmo, and it only takes thirty minutes or less to transfer. If you initiate a Venmo Bank account, then it will take more time. When you choose the Varo Visa debit card, the instant transfer option is available to you.
Varo daily transfer limit
Varo accounts can transfer up to $5000 to external checking or savings accounts per transfer and up to $10000 per calendar month. The Venmo app allows you to send up to $2,999.99 a week without charge when you link your Varo account.