Varo Bank is a banking institution created to fill the gap in online banking and has over 55,000 surcharge-free ATMs. It is common to wonder how to transfer money from Varo to Cash App, especially since many people use both services simultaneously.
This way, you can make a money transfer simply and without inconvenience. In addition, Varo allows us to link a Cash App account to transfer funds directly.
There are several ways to link Cash App to Varo. They were very easy to set up because Varo will use Plaid to connect to Cash App. This way, bank accounts can be verified with just a few clicks.
Plaid is a service that enables payment integration and allows you to connect bank accounts to various payment applications. In this way, information is verified and transferred securely between financial institutions.
To link the two platforms, we will have to follow these steps:
- We start the Varo app on our Android or iOS device.
- We will click on create an external account in the Varo app panel.
- Choose Cash App in the search.
- We will be asked to verify our Cash App identity by entering our login credentials.
Cash App users can link the account to Varo without a debit card. For this, our bank account information and routing number must be entered to make direct deposits from Cash App using ACH. But, these transfers can take up to 5 days to reach our account.
If we want to link Cash App to Varo without a card, we will have to follow these steps:
- We start Cash App from our mobile device.
- Select the “Bank” icon on the home screen.
- Look for the linked bank option by scrolling down.
- Next, we enter the Varo bank account with the routing number to make ACH transfers.
Varo Money Transfers to Cash App
Once we link the Cash App and Varo accounts, you can quickly transfer money between the two accounts. To make the money transfer from Varo to Cash App, we will have to follow these steps:
- We start Cash App on our mobile device.
- Select the “Add Cash” option.
- Enter the amount of money to be transferred.
- Select our linked Varo account.
- Confirm the transfer, and the money will be transferred within a few days.
We can also do the procedure in reverse so that we can send money from Cash App to Varo. We can select the bank from the app and withdraw the money, which will allow the money to be transferred.
What is the transfer limit from Varo to Cash App?
The transfer limit between Varo and Cash App is a maximum of 35 instant debit transfers per month, which resets every 30 days. We will also have a spending limit of $2,500 per day in Cash App.
We will also be able to view the Varo account statements by visiting the page, and there we will be able to download our account statements. There we will be able to specify the month or year of the statement we would like to see so that you can know all the transfers we have.
On the other hand, if we transfer money from Cash App to Varo, the limit will be up to $7,500 per week. This is if we have not verified our identity, since as soon as we have our identity verified, we will be able to receive an unlimited amount of funds.
Fees that apply for transfers between Cash App and Varo
Cash App will charge us a 1.5% transfer fee for immediate transfers to our linked Varo bank account. However, we will have the option to make a standard transfer free of charge, which can take up to three business days to process.
On the other hand, if we transfer money from Varo to Cash App, we will not have any money transfers. It is also possible to use our Varo debit card in Cash App so that we can transfer money directly.
If we want to send money this way, we link our Varo debit card, and it will allow instant transfers between the two.
How long do transfers take?
The transfer time will vary depending on the transfer speed we select. If we link our Varo debit card, we can make instant transfers in as little as 30 minutes.
But, if we deposit via ACH could take up to five business days as long as we have linked our bank account to Cash App. The advantage of these transfers is that we will not have to pay any commission.
We should consider that linking Varo without a debit card will take several days per money transfer. In addition, Cash App will allow us to add external bank accounts so that funds can be transferred directly.
This will allow us to make transactions quickly, and if we use both services, we can make all our transactions without any limits. But, for it to work, you must be sure to link both accounts.