You can link Cash apps to Varo and easily transfer you money from mobile devices. one must understand how does it work to utilise the services given by them.
What is Cash App?
Cash app is a peer 2 peer app that can be used to receive and send money from mobile devices, the platform can also be used to purchase a crypto asset, stock, and filling of tax, despite not being a Bank the payment platform offers banking services with the help of the companies banking partners, Block Inc. Launched the app in 2013 and through banking partner, all client deposit is insured by Federal Deposit Insurance Corporation (FDIC), the Cash App Investing LLC arm of the company offers stock investment services licensed by the Security and Exchange Commission (SEC), Cash app is a member of the Financial Industry Regulation Authority (FINRA).
What is Varo?
Varo was initially a Fintech company that started in 2015, with the mission to capture younger people by leveraging on the traditional bank’s failure to fully digitalize their operations, Varo’s ally Bancorp was the provider of the company’s banking services, by 2020 this partnership ended as Varo became a chattered banking institution licensed by the Office of the Comptroller of Currency (OCC) and approved by FDIC, this made Varo the first FinTech company to secure banking a banking chatter in the U.S.
Can Varo Get Linked with Cash App?
Yes, both parties offer debit cards, account numbers, and a routine number which makes it possible to get them linked, however cash app seems to be more flexible due to Varo does not allow peer-to-peer transfer unless the peer is a Varo account holder, in other to get such task done you will be required to get a free cash app account
How to Link Cash App with Varo Using Debit Card
If you have both Varo and Cash App accounts you can now link the two by following the steps below which would enable you to initiate a fund transfer between the two accounts.
Launch your Cash app Logging with your credential From the home screen select the Bank icon From the banking interface scroll down and select liked Banks Tap on the link debit card Provide your Varo card details and submit
And instantly your account will get liked.
How to link Cash App with Varo without a Debit card?
Another option is to link both accounts without a debit card which would require your account number and routing number, it is important to note that transaction through this channel is slow and might take up to 5 days to complete, so link your accounts without a debit card by following the step below.
Launch your Cash App Logging with your credential From the home screen select the Bank icon Select linked banks tap on link bank and proceed to provide your Varo bank account and routing number
One can also do the linking from the Varo App which makes use of Plaid to link an external bank account, below is how to link from Varo App.
Launch Varo App Logging with your credential From your home screen click on the link to an external account Select Cash App from the search area Provide your Cash App Logging details to connect to Varo
With the above guide, you would be able to link your two accounts and can move the fund to and from one account to another.
How to Move Funds Using Cash App to Your Varo ?
In other to move funds from your cash app to your Varo account follow the below step.
Launch your Cash App SLogging with your details Locate the bank icon and click on it Click on cash out Input the amount And select the account you wish to transfer to if you have more than one account linked
How to Move Funds Using Varo to Your Cash App?
It is quite interesting that if you want to move funds from your Varo to Cash App you would do that from your Cash App, the procedure is below.
Launch your Cash App Logging with your details Navigate to the Bank Icon and click on it Tap on add cash Input the amount intended for transfer Select the linked Varo account
With the step above you will successfully make your transfer from your comfort.
The Fintech space keeps gaining more acceptance in modern-day society by offering an alternative banking service to people which is fast and more convenient, Varo and Cash App is at the for front of the Fintech community, and functionality such as secure linking of individual account in other to have a centralized channel to manage their finance that makes the Fintech preferred financial service providers in the modern time.
Can instant transfers be made to Varo Bank Debit Card?
Yes, you can make an instant transfer from a mobile wallet like Uber, Venmo, Cash App, PayPal, etc. The transfer speed might vary depending on the digital wallet but on average, it should not take up to 30 minutes, the transfer does not attract charges but the digital wallet might charge you a transfer fee.
Can anyone Use Cash App?
No, the Cash app is for individuals from age 13 and above, and the age bracket, 13 to 18 would have to get a guardian or parent approval in other to gain access to features like P2P transactions, cash cards, and direct deposit. Age 18 and above only can access features such as bitcoin and investment.
