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:
- Login 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)
- Hit confirm and complete the following important action: UNCHECK BOTH OPTIONS to use this bank account for Payments and Purchases (using the MOVO direct deposit account number for payments and purchases in Venmo is NOT allowed and will result in an ACH reject/decline fee; see your terms and conditions are you are only allowed to use this deposit account number for depositing money into your MOVO account)
- 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, visit https://venmo.com/verifybank 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 main 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.
NOTICE: We understand that you may have recently tried transferring money from your Venmo account to your Movo account and were unable to complete the transfer. It has been brought to our attention that Venmo may be restricting Cash Out to Bank Functionality (which allows you to transfer money from your Venmo account to your Movo account). We have researched the situation and found that Venmo has made recent changes to their platforms blocking the bank routing number used by MOVO’s customers for direct deposit purposes. You may want to be proactive in calling customer service at Venmo to voice your displeasure with regard to their decision to restrict you from direct depositing your money to your Movo account.