Move Your Pay is a feature that allows you to automatically move all or a portion of future deposits to your Believe Secured Account. That way, you don’t have to worry about manually moving money every time you want to spend.
Keep in mind: if you have Save Your Pay turned on in connection with your Varo Savings Account, you cannot enter a Move Your Pay percentage that, together with your Save Your Pay, would exceed 100%.
How does Move Your Pay work?
Once you set a percentage in Move Your Pay, Varo Bank looks at each direct deposit into your Varo Bank Account and automatically transfers that amount from your Varo Bank Account to your Believe Secured Account. Direct deposits can come from your employer, from the government, or from other sources.
For example, if you receive a payroll direct deposit of $1,200 from your employer and you choose to move 10%, we’ll automatically transfer $120 from your Varo Bank Account to your Believe Secured Account every time you receive that direct deposit.
There is no fee for using Move Your Pay.
When do the transfers happen?
Money is transferred from your Varo Bank Account to your Believe Secured Account immediately after the direct deposit is posted to your Varo Bank Account. You can always adjust the transfer by moving money from your Believe Secured Account back to your Varo Bank Account.
What transactions are eligible for Move Your Pay?
Any direct deposit via Automated Clearing House (ACH) from an outside financial institution to your Varo Bank Account using your Varo Bank Account and routing numbers is eligible for Move Your Pay. This includes payroll, government benefits, tax refunds, and other payments. Move Your Pay does not work with in-app transfers from your Believe Secured Account or instant transfers to your Varo Visa® Debit Card—like transfers from Uber Instant Pay and Lyft Express Pay, for example. To review our terms and disclosures, please revisit the Varo Believe Program Agreement, which can be found on our Privacy and Legal web page. Find the Privacy and Legal page here: https://www.varomoney.com/privacy-legal/.
How do I change the percentage I’m saving or turn off Move Your Pay?
You can edit or turn off Move Your Pay in the app whenever you want.
- Open your Varo App and log in
- Tap Home > Varo Believe Account
- Tap Move Your Pay
- Edit the percentage (enter 0% to turn off Move Your Pay)
Tap the Update button. You’ll receive an email confirming the change.