Varo is one of the better online banks out there. Once you've got an account, you can easily transfer money from your account and get it to where it needs to be. The best part is that there are very few fees associated with Varo as well. In this guide, we'll be covering the Varo to Varo transfer limit. Explaining precisely how much you can move between Varo accounts over a few time periods.
When transferring money from one Varo Account to another, you're limited to 50 individual payments in a single calendar day. The most you can transfer in one 30-day period is $2,000. If you use up that limit, you'll need to wait for the next 30-day period to begin before transferring more.
Let's break these limits down a little more.
Varo to Varo Daily Transfer Limit
|Varo to Varo Limits||Transactions||Money Limit|
|One Calendar Day||50||$2000|
You are limited to making up to 50 individual transfers each calendar day with Varo. This means that from 00:01 AM until 23:59 PM, you can only make 50 payments. If you need to make more, you'll need to wait until the next calendar day begins.
For example, if you make 50 individual payments on April 2, you will need to wait until 00:01 AM on April 3 before you can make 50 more. This rolling transfer limit applies to all accounts.
When it comes to the amount of money you can transfer, the limit is very clear. You can only transfer up to $2,000 per 30-day period. If you use this limit up in a single day over 50 individual payments, then you will need to wait for the next 30-day period to start. Regardless of whether your daily payment limit hasn't been met, the limit for transferring $2,000 per 30-day period applies across that.
Varo to Varo Funds Transfer Limit
As we've outlined above, Varo is definitive on the amount you can transfer and what the time limit on that amount is. Users can send up to $2,000 to other Varo users each 30-day period. If they reach that limit, they must wait for the next 30-day period to begin.
For example, if you send $1,000 on April 2, $500 on April 17, and $500 on April 25, you'll need to wait until the start of the next 30-day period to send any more money. In this example, the next 30-day period would start on May 3, since that's 30 days after the first payment was made.
However, if we follow this example further, you'll only be able to transfer $1,000 from May 3. To transfer more, you will have to wait until 30 days have passed for the second and third transactions we listed as well.
Can You Transfer Funds From Varo to Another Bank Account?
Unfortunately, you can only transfer money between Varo accounts. It's impossible to transfer any cash outside of the Varo ecosystem to a bank or another banking application. This means that the limits we've outlined here apply to all users in all circumstances. Since there's no way to bypass Varo and move additional funds around, you're restricted to the 50 individual payments per day. You're also restricted to the $2,000 per 30-day period.
Varo to Varo Transfer Fees
One good thing about Varo only allowing users to transfer money between them is that there are no fees. You won't have to pay a fee for sending $2,000 in a single transfer, and there's no fee for any other amount either. It's all totally free. This is why Varo is so appealing to many.
Varo's limits are lower and more restrictive than other online banks. They only give you $2,000 to transfer per 30-day period. The number of payments you can make per day is very generous at 50 though. Should you need to transfer more cash, there are other online banks that you could go with.
Now that you know what the transfer limits with Varo are, why not read up on how to get your stimulus check sent directly to your account?