Digital banking is becoming increasingly popular in today's fast-paced world.
In fact, US mobile banking stats reveal that 89% of American bank account holders use mobile banking for accessing and managing their accounts.
While most of these consumers use mobile banking, a couple of them are into Neobanks like Varo.
Varo is an online-only bank that offers a variety of features, including a checking account, savings account, debit card, cash advances, and the ability to link finance apps to the platform.
Besides working with cash advance apps, Varo now works with a couple of digital wallets following the increasing popularity of this one in the financial space.
With that said, it's a no-brainer to wonder whether Cash App is one of the digital wallets that work with Varo.
To help you out, we'll see whether does Varo work with Cash App and how you can easily transfer money from Varo to Cash App.
Table of Contents
Does Varo Bank Work With Cash App?
Yes, Varo does work with Cash App.
In fact, according to Varo Support,
You can add your Varo Bank Account or Varo debit card as a payment method for digital wallets like Venmo, PayPal, Cash App, etc. This allows you to transfer money to/from the digital wallet and Varo using the digital wallet’s app or website.
This means moving funds between Varo and Cash App is very possible if you're using Varo here as a bank or debit card on Cash App. You can't link the Varo app, however, to Cash App directly.
Can I Transfer Money From Varo To Cash App?
Of course, you can transfer money from Varo to Cash App.
Transferring money from Varo to Cash App is very easy and straightforward once you've linked your Varo Bank account to Cash App.
How To Transfer Money From Varo To Cash App
The best way to transfer money from Varo to Cash App is by linking your Varo bank account as a payment method to your Cash App and then initiating the transfer once done.
With that said, transferring money from Varo to Cash App involves three steps; getting your Varo Bank account details, linking your Varo bank account to Cash App, and transferring the funds.
1. Get Your Varo Bank Account Details
First and foremost, you'll need to get your Varo Bank account details you'll use to link your account to Cash App.
The Varo Bank account details here are your routing and account numbers since you'll need them for making money transfers to and from your Varo Bank account.
To get your Varo Bank routing and account numbers:
- Open the Varo app.
- Select your checking or savings account from the home page of the app.
- Tap "Account Details" in the upper right-hand corner.
- Copy your Varo Bank routing and account numbers from there.
2. Add/Link Your Varo Bank Account to Cash App
After copying your Varo Bank routing and account numbers you'll need to link your Varo bank account to Cash App.
The process is more like linking a regular bank account to Cash App.
To do so:
- Open Cash App on your phone.
- Tap the Profile Icon on your Cash App home screen.
- Select "Linked Banks."
- Tap "Link Bank."
- Follow the prompts to link your Varo bank account to Cash App.
If you don't want to link your Varo Bank account to Cash App through your routing and account numbers, you can use your debit card instead.
3. Transfer Money From Varo to Cash App
Your Varo account is now directly linked to your Cash App account, allowing you to move funds between the two.
If you linked your Varo Bank account through routing and account numbers directly, you can transfer money between the two via ACH transfers, which take 1–4 business days to complete.
Transferring money from Varo to Cash App is more like adding money to Cash App from a linked bank account.
To do so:
- Tap the Money tab on your Cash App home screen
- Press "Add Cash."
- Choose an amount.
- Tap "Add."
- Use Touch ID or enter your PIN to confirm.
If you need the funds to be available in your Cash App balance right away, you can use your Varo debit card as a funding source instead of your Varo bank account.
How Long Does It Take To Transfer Money From Varo To Cash App?
The time it takes for a complete transfer of funds from Varo Bank to Cash App depends on the transfer method you used.
If you used your Varo Bank account which initiated an ACH transfer, the money should take 2-4 business days to arrive in your Cash App balance.
On the other hand, if you use your Varo debit card, the transfer should occur almost instantly and the funds should be ready to use in your Cash App balance.
Can I Use My Varo Card On Cash App?
Yes, you can link your Varo card to Cash App and use it to send and receive payments.
Linking your Varo card to Cash App is more like linking a regular debit card to your Cash App account.
Can You Transfer Money From Cash App To Varo?
Yes, you can transfer money from Cash App to Varo. In fact, it is more like withdrawing money from Cash App to a bank account.
Below are the steps to transfer money from Cash App to Varo.
- Tap the Banking/Money tab on your Cash App home screen.
- Press "Cash Out."
- Choose an amount and press "Cash Out."
- Select a deposit speed.
- Confirm with your PIN or Touch ID.
Are There Limits When Sending Money From Cash App to Varo
You can transfer up to $7,500 per week with Cash App, but you can receive an unlimited amount.
It's worth noting that when Cash App sends money using your Varo debit card, the transfer purchase is taken into account. This translates to a yearly spending cap of $2500.
You can look at your Varo account statements. Go to the accounts section of the website.
To choose details, simply click on Savings Account or Varo Bank and press on the top right. You'll be taken to your account statements after that.
Select the month or year of the statement you want to look at.
Are There Fees When Using Cash App With Varo?
When transferring funds to your Cash App, Varo Bank does not impose any fees.
When transferring money from Cash App to your Varo account, though, you'll have two options: normal transfers and instant transfers.
For an instant transfer into your bank account, Cash App charges a 1.5 percent transfer fee.
However, if you select normal transfer, the funds will be transferred to your bank account for free within three days.
Frequently Asked Questions
Can I transfer money from Varo to Apple Pay?
Yes, you can transfer money from Varo to Apple Pay. All you need to do is link your Varo debit card to Apple Pay and transfer funds to your Apple wallet.
Can I transfer money from my Varo account to another bank?
Yes, you can transfer money from your Varo account to another bank. To do so; Link the external account to your Varo Bank Account and verify it's yours. Once the external account is linked, open the Varo Bank app and tap Move Money > Transfer Money > Transfer Money. Select From: Varo Bank Account and To: the account you want to receive the transfer.
How do I transfer money from Varo to Venmo?
Transferring money from Varo to Venmo is very easy and straightforward once you've linked your Varo Bank account or debit card to Venmo. After that, you'll need to add money to your Venmo balance to Varo. For your convenience, here's a complete guide to transferring money from Varo to Venmo.
Final Thoughts
Varo is an online-only bank account that offers banking services among which are checking accounts, debit cards, and money transfer facilities.
Cash App is a P2P payment app that lets users send and receive money online.
Varo bank works with Cash App which means you can link your Cash App to Varo and easily transfer funds between both apps.
However, when transferring money from Varo to Cash App or vice versa, always choose an appropriate speed as per your needs and only use instant transfers when necessary.
Source:
https://support.varomoney.com/hc/en-us/articles/9875092506004-Does-Varo-work-with-Digital-Wallets-like-Venmo-PayPal-CashApp-