If The name of my bank was entered incorrectly, but the account info was still correct, will that affect my direct deposit? If so, How do i fix this?

If the routing number and the account number are correct then the name of the bank will not affect the direct deposit.

I entered the correct banking info however the bank name was entered incompletely.  It was supposed to be "varo bank, n.a". I entered "varo bank" and now I'm panicking. 

See the answer right above your post.