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. Here are the pros and cons of each method:
If you add your Varo Bank Account and routing numbers as a payment method, you can transfer money via ACH transfer.
- Timeframe: For security reasons, ACH transfers typically take 1-4 business days.
- Cost: ACH transfers are free. Varo doesn’t charge ACH transfer fees and most digital wallets don’t either. Check with the specific digital wallet just in case.
- Security: ACH transfers are more secure.
If you add your Varo debit card as a payment method, you can transfer money via instant transfer.
- Timeframe: Instant transfers typically arrive within one minute, but sometimes can take up to 30. Still, super fast!
- Cost: The digital wallet will charge an instant transfer fee. Check what fee Venmo, PayPal, Cash App, etc. will charge before using them to make instant transfers. Varo doesn’t charge instant transfer fees.
- Security: Instant transfers are less secure. It can be hard to get your money back if you’re scammed.
See "Can I make instant transfers to my Varo Bank Visa® Debit Card?" for details on instant transfers.
If the person you want to transfer with also has an active Varo Bank Account, consider using Varo to Varo bank transfers. They’re free and instant.