1. ACH debit transactions “pull” the money from your account, like for an automatic bill payment.
2. ACH credit transactions “push” money into your account, like a direct deposit of your paycheck or tax refund.
You can set up both kinds of ACH transactions by providing your Varo Bank Account number and routing number to your biller or payor.
ACH transfer exact timing depends on the financial institution. Here’s what you can expect for ACH transfers with Varo:
If you initiate an ACH transfer in the Varo app to or from an external bank account you own, it’ll take 2–4 business days.
If you initiate an ACH transfer from an external bank account to Varo, it’ll typically take 1–2 business days.
ACH transfer fee to send or receive money with Varo: $0
Average wire transfer fee to send money domestically*: $25
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Varo Money, Inc. | NMLS #: 1547251 | Licenses | NMLS Consumer Access
Bank account services provided by The Bancorp Bank. Your deposits are FDIC insured to at least $250,000 through The Bancorp Bank; Member FDIC. The Varo Visa® Debit Card is issued by The Bancorp Bank pursuant to a license from Visa U.S.A. Inc and may be used everywhere Visa debit cards are accepted.
See the Varo Bank Account and Varo Savings Account Agreement for terms and conditions.