What do Moneylion and Varo bank have to do with PayPal? Trying to understand my kids' accounts.

csel
Contributor
Contributor

I am trying to understand my kids' PayPal accounts.  They have Moneylion and Varo bank listed in transactions with small dollar amounts going in and out of Moneylion and Varo bank.  Could these be tied to some sort of rewards/savings plan on PayPal?  

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sharpiemarker
Esteemed Advisor
Esteemed Advisor

@csel 

 

Moneylion and Varomoney are online banking apps:

https://www.moneylion.com

https://www.varomoney.com

 

PayPal lets us link bank accounts to add or withdraw money to/from PayPal account. Most young people use PayPal to earn money doing online surveys, reviews, game winnings, selling things, accept donations from live streaming, and so they link bank accounts such as above to PayPal to withdraw money, add money or link associated debit card to PayPal to buy things.


Kudos & Solved are greatly appreciated. 🙂
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