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

242.72K+

By Deacon Richard Jones
2025-03-28
Version 4.4.1
Love itPayment and BillingPrivacy
Been good for several years with excellent service, but my checking account has been hacked twice within the last few months. The first time,I received my money back, the second time they said I was at fault, although both times, my credit card or debit card wasn't used at all. Varo Banking online app is the issue, not as secured as other online banking app. I removed my money from both my checking and saving account. Saving seems to be more secure though. Please be extremely cautious🙏🙏🙏
By me
2025-04-11
Version 4.5.0
Inaccurate
Varo erroneously entered the incorrect account number when I used the "Set up automatically" Direct Deposit option. Unbeknownst to me, the account number was one digit off and I had two deposits just disappear into thin air. Last I checked, if I'm using the Varo app & a feature on THEIR app, that means they're responsible for the input. Varo refuses to accept responsibility and places blame on the depositing bank, as if the depositing bank is the one who input the incorrect account number.
By Andrew Carter
2025-03-02
Version 4.3.0
DifficultHate it
I'm not adding any more money until you fix the change email feature. You send a verification message which is supposed to have a link but doesn't, to the old email address. I'll probably transfer out all of my money to a competent "bank"...Chime may have a smaller interest rate, but at least they have a search feature now and changing profile info is easy BUT it is SECURE. Yes, you have the steps to change, but in the app it still doesn't alter the fact that it is impossible to change.