There are a lot of options when it comes to depositing money into your Envelope account! To keep things simple, we've listed the most common methods below, with a brief overview of each method.
Direct Deposit
If your employer participates in direct deposit, this will be the quickest and easiest way to get your paycheck into Envelope. Click here for further details on setting up Direct Deposit.
External Bank Deposit - Same Day to 5 business days
Within this option, there are two ways you can do ACH transfers from an external bank account.
Initiating the transfer from your other bank to Envelope via their app/website. Envelope is on Plaid exchange, so linking your Envelope account with your current bank is easy! You can verify your phone number to instantly link your account. If your current bank doesn't use Plaid, you'll simply need to input your account and routing number to link the account. ACH Transfers from another bank when initiated by and sent from that bank generally take 1-3 business days, but can sometimes be processed same day.
Initiating the transfer in Envelope. You can now link an external bank account in Envelope to deposit funds into Envelope. This process typically takes a few days longer than linking your account externally. This is because we need to verify balance to pull the funds from an external bank account.
3rd Party Payment Apps - Same Day to 5 business days
It is possible to transfer money into your Envelope account from third-party payment apps such as Zelle, Venmo, PayPal, Google Pay, Cash App, and Apple Pay. These apps function similarly to an external bank transfer/ACH deposit when your Envelope account and routing information is added as an External Bank Account within the respective app. Transfer times will very for each. You can also typically use your debit card to instantly send funds. Click here for more information on connecting your Envelope Money Account to payment apps.
Mobile Check Deposit - Coming soon!
Coming soon. Check our roadmap for updates on this feature.
Cash/ATM Deposit
You can deposit cash into your Envelope account using your debit card at participating AllPoint ATM's.