Yes. You can easily load money to your MOVO account using Venmo.
MOVO is just like a bank account and as a result it can be used for Direct Deposit transactions. MOVO will provide you with a bank routing number and Direct Deposit number that can be linked to your PayPal or Venmo accounts to receive incoming transfers (i.e. cash out transactions). In most cases, incoming transfers post within 1-2 business days.
Your Direct Deposit account information can be found in the MOVO app. Go to Main Menu >> MovoLoad >> Direct Deposit.
Once you’ve received your direct deposit information from us, you will need to provide this information by “linking a bank” in your Venmo account:
- Log in to your Venmo account (these are instruction when using the Venmo mobile app)
- Select “Settings”
- Select “Banks and Cards”
- Select “Edit payment methods”
- In the popup window, select "Link Bank Account"
- Scroll to the bottom and select "Other"
- Enter in the Routing Number, Account Number (i.e. your direct deposit information that we have provided you)
- Select "Save and continue"
- Next, Venmo will deposit 2 small deposits into your MOVO account (this happen in 1-2 business days).
- Once these deposit have posted to your MOVO account, go back to Settings >> Banks & Cards >> Edit payment methods. Select the Metropolitan Commercial Bank account and "Verify to pay from this bank."
- Enter in the 2 deposit amounts that were made to your MOVO account.
- Once your MOVO account has been verified in Venmo, you can initiate a transfer by selecting “Transfer to Bank” in the menu of the Venmo app.
WARNING: DO NOT attempt to LOAD money to Venmo using your MOVO Direct Deposit number. If you attempt to LOAD money to Venmo using your MOVO 13-digit direct deposit account number, it will be rejected and it will result in a ACH reject/decline fee against your MOVO balance (see your terms and conditions). To LOAD money to your Venmo account using MOVO, simply use your 16-digit card number the same way you would use any other credit, debit or prepaid card.