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Where is My Direct Deposit?

July 24, 2019

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Receiving money electronically through direct deposit is often the fastest way to get paid these days. There’s no driving to pick up a check or standing in line to cash it. 


However, depending on who’s sending the money to you, the speed at which it gets into your Bank Account can differ. That often has nothing to do with Varo but with how the payer has their system structured. At Varo we strive to get you your funds to you as fast as we can. 


Here’s what you need to know about getting your money.

Direct deposit paycheck from your employer or government benefits provider


If you have your paycheck, regular employment income, or benefits payment on direct deposit, there’s a good chance you’ll get your money up to two days early with Varo.* Not all banks do this but Varo does. Every pay period, your employer or benefits provider electronically submits payment files to the Federal Reserve. The Federal Reserve then notifies your bank of a) your paycheck amount and b) when it’s set to be received.

While banks have traditionally waited until the date specified to deposit your funds, Varo can — and does — make that money available to you right away. This means we can provide you access to your earnings up to two days early. Varo is able to move up your payday by trusting in your employer’s ability to make payroll. Learn more about Varo’s Early Direct Deposit.

Why does my deposit arrive in my Varo Bank Account at different times?


Early in the week, your employer or benefits provider will prepare and send a payment file to the Federal Reserve. Each company may send that file on a different day and time. That file informs your bank that money will be coming to the account on the official payday. Most banks wait to post the money until a set time on the official payday. These banks can post your deposit consistently at the same time because they wait until your payday to give you your money.  


At Varo, we don’t want you to wait. We will post the funds to your account the very minute we are advised by the Federal Reserve that a deposit is coming. These notifications may come to Varo on different days of the week or at different times throughout the day. The consistency depends on your employer or benefits provider.  If your deposit is a bit later this pay period, don’t worry, we’re not holding it up. Chances are, your employer or benefits provider submitted their payment file a little late. Even if the day and time vary a little, you should always receive your paycheck earlier than your scheduled payday.

Can Varo see my pending direct deposit? 


Most other banks can see your “pending” direct deposit because they are waiting until payday to put the money in your account. At Varo, we give you that money as soon as we are notified of an incoming payment. We never hold your deposit as “pending.” Would you rather we tell you how much your deposit will be in your account in a few days, or would you rather we just give you access to that amount right now? We think most customers would prefer to receive their money as fast as possible. 

Use Push Notification for instant news on when your direct deposit hits


If you want to know when your deposit arrives, turn on Push Notifications for instant alerts.

    • In the app, tap Settings > Manage Notifications


    • Tap the slider to turn on notifications

All this to say, you will always receive your Early Direct Deposit as soon as we do. If you have concerns about the timing of a certain direct deposit, ask your employer when their bank sent their payroll file that pay period.


*Direct Deposit and earlier availability of funds is subject to payer’s support of the feature and timing of payer’s funding.



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