Varo Bank: Online Banking

Varo Bank, N.A.

4.7

Varo isn’t just an online banking app. We are a real bank, built for the digital age. Accessible to you—with free online banking, early payday⁴, high yield savings³, credit score monitoring¹⁴, easy credit building⁷, automatic cashbackᵟ, instant cash advances (once qualified)⁵, and more. Fees apply to loans and out-of-network withdrawals/cash depositsᐞ.

Member FDIC—mobile banking backed by the full faith and credit of the U.S. Government.

FREE ONLINE BANKING
• Early payday⁴
• No minimums or hidden fees*
• Free debit card
• Free cash deposits at CVS®ᙾ and withdrawals at 40k+ in-network ATMs²
• Free credit score monitoring¹⁴
• Automatic cashback¹¹—no activation required or single-day windows
• Mobile check deposit (quals apply)ᵟ
• Track spend by category
• Digital wallet (select customers)ᵟ
• WE’RE A REAL BANK—unlike many money apps

HIGH YIELD SAVINGS
• Up to 5.00% APY, annual percentage yield, on balances up to $5,000 (quals apply)³
• Receive 2.50% APY on remaining balances
• Save money faster with automatic saving tools

EASY CREDIT BUILDER
• Free secured credit card for credit building⁷
• No credit check, interest, annual fees, or min security deposit
• Build credit by only spending what you have¹⁵
• Track spend by category
• Automatic payments available via Safe Pay¹⁶
• Reported to Equifax, Experian, and TransUnion
• Pre-existing credit scores saw a 40+ point increase on avg after 3 months of on-time payments⁸
• 90% of users with no credit score had a score after one month¹⁷
• Quals: Must have an active Varo Bank Account in good standing & incoming deposits of $200 or more in the past 31 days.

INSTANT CASH ADVANCES
• Borrow money instantly between $20 and $250, once qualified
• Work your way up to $500 cash advances over time⁵
• Cash advance funded directly into your online bank account
• 30 days to repay (better than a payday advance)
• One-time flat fee per cash advance
• Automatic payments available for money advances¹⁸

PERSONAL LINE OF CREDIT
• Unsecured personal line of credit ranging from $600 to $2,000 (quals apply)¹⁰
• No interest, late fees, or penalties
• Simple flat fee structure
• Personal loan funded instantly, once qualified
• Money added to your online bank account
• Credit line with affordable monthly payments
• Payment periods between 3 and 12 months

CASHBACK BONUS
• New mobile banking customers get +50% cashback in their first 30 days with Varo!¹¹

SEND MONEY
• Send money to anybody, even if they aren’t a Varo customer
• Transfer money using recipient’s phone number or email address
• Fast, secure, and free!

DOWNLOAD NOW!
• Signup for an online bank account
• Takes less than two minutes
• No impact on your credit

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Disclosures
¹⁴ Varo displays credit data at our discretion to customers that opt in
¹⁵ Your spending limit can’t exceed your available to spend balance in your Varo Believe Secured Account, up to $2,500 per day for purchases or $1,000 a day for cash advances, totaling no more than $10,000 total per billing cycle
¹⁶ By enrolling in Safe Pay, you authorize Varo Bank to auto pay your Varo Believe Card balance in full at the end of your billing cycle from funds in your Varo Believe Secured Account, before your actual due date. If the amount owed is more then your Secured Account balance your payment will not be made. You will have twenty-one (21) days to deposit additional funds to make your payment on time
¹⁷ As of November 14, 2024. Data based on comparison between VantageScore® 3.0 score from the initial pull after Believe card activation and the VantageScore® 3.0 score pulled after one month of reporting Believe Card activity. Individual results may vary
¹⁸ Set up an automatic payment to your Varo Advance Account on any date you choose between 15 and 30 days from the day you get your Advance
ᐞ A full list of Varo fees can be found at https://www.varomoney.com/varo-fees
ᙾ See “Free Cash Deposits at CVS®” screenshot above
ᵟ Additional information: https://www.varomoney.com/disclosures/

Publisher Country	US
Country Release Date	2020-10-01
Categories	Finance
Country / Regions	US
Developer Website	Varo Bank, N.A.
Support URL	Varo Bank, N.A.
Content Rating	Everyone

242.54K+

By millenium cooks
2024-12-26
Version 3.54.1
BugsLove it
Love this bank but the app doesn't work well anymore outside of banking. For example: if I clicked on Varo Advance (or whatever it's called) it will get stuck on the loading screen and never load. If I click on help, and chat, it will again get stuck on the loading screen. Anything outside of regular banking, it will be stuck on the loading screen. I have a Galaxy S21 Ultra and these features (except live chat) has never worked for me.
By Alexis Sullivan
2024-09-14
Version 3.52.0
Battery UsageFeature Requests
Make the home page editable. I want my Bank acct at the top, then my believe acct, then my savings. I hate that I can't rearrange the home tab how I want it. We should be able to earn more flexible repayment options with Varo Advance. Like repayment over 3mos, 6mos, 9mos, even 12mos Add search feature so we can search transactions. When im looking for a transaction, you have to just endlessly scroll thru to find it when a search option to search for merchant or charge amount would be easier
By Aixa Marin
2025-02-07
Version 4.1.2
BugsLog InUpdates
A couple of days ago, the app's biometric scanner began to error out, with a message saying 'Wires were crossed, we're working on it.' But after clearing cache and checking the Google play store to see if it was issue due to update, there had been none. So I just un-installed and reinstalled the app. However, after logging back into the app after reinstallation, it says Face ID for opening up Varo. I said yes. But it doesn't work, still have to log in with password. Not sure what's going on...