Some accounts see Bank Account on the Deposit screen. It lets you fund your cash balance straight from a US bank account by bank transfer (ACH). The Deposit screen shows the methods available to your account.
Before your first bank deposit
Bank deposits run through fomo's bank transfer partner, which handles identity verification and bank linking on its side. If you have not verified your identity with that partner yet, the app takes you through it the first time you choose Bank Account. The same verification covers bank withdrawals.
How to deposit
Open Deposit and choose Bank Account.
Link a bank account, or choose one you have already linked.
Enter the amount. The screen shows the limits that apply to your account.
Review the deposit. The review shows the fee, the total that will be debited from your bank, and the authorization for a one time debit.
Confirm. The deposit appears in your history as a bank deposit.
When the cash arrives
A bank transfer takes 1 to 3 business days to settle. Your history row shows the deposit as processing until then, and the cash is expected within that window.
On some deposits the cash is made available in your cash balance before the bank transfer finishes settling. When that happens the history row says your cash is available and the transfer is still settling.
Things to know
One bank deposit can be pending at a time. If you already have one in progress, wait for it to complete before starting another.
Limits are per account and can change. If an amount is refused, the screen tells you the amount you can deposit right now.
A linked bank account that is still being verified, under review, or removed cannot be used until that clears. The screen offers to choose another bank.
If a deposit is not accepted, you can use another deposit method or try a different bank account.