The rise of no fee banking

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Tired of being nickel-and-dimed by banks that seem to charge fees for pretty much everything? We don’t blame you. Luckily, the era of no fee banks has arrived, upending the status quo and empowering everyday Americans to take control of their finances without those pesky fees dragging them down.

At Varo Bank, we believe your hard-earned cash is, well, yours. You earned it, so you keep it. That’s why we created a bank account with no hidden fees, and no strings attached.

Here, we’ll delve into the rise of no fee banking and why with Varo, you can say goodbye to hidden bank fees¹ and hello to financial wellbeing!

Break free from unexpected bank fees

Traditional banks have always heavily relied on saddling you hefty fees to generate revenue. Fortunately, that’s where Varo steps in to buck this trend.

We hate fees just as much as you do, so we’ve reimagined the banking experience by doing away with the annoying ones to help protect your wallet:

• No monthly fees: Who needs to pay extra fees to keep their money somewhere safe and secure?

• No minimum balance requirements: The amount you keep in your account should be up to you, right?

• No fees to deposit checks, use your debit card, or withdraw cash at 40,000+ free ATMs²: Why should you be charged for the essentials of day-to-day banking?

• No overdraft fees: Sick of paying fees for going slightly over? We have built-in guardrails that only let you spend what you have, and if you do go over, there’s still no extra charge.³

• No transfer fees: Shouldn’t you be able to send money for free whenever you want? Pay anyone for anything with zero fees using Varo to Anyone in your Varo App.

At Varo, when we say no hidden fees, we mean it. 

No fee banking: your path to financial wellbeing

Ready for your financial wellbeing to thrive without those surprise bank fees eating away at your hard-earned money? With Varo’s no hidden fee bank accounts¹, you can focus on your financial goals and dreams without wasting your cash on something that shouldn’t cost you more in the first place.

Keeping your cash for what’s important doesn’t just help your bottom line, it can empower you to save more and invest in your future with confidence and peace of mind. 

Whether it's saving for a rainy day emergency fund, working towards a down payment on your dream house, or simply wanting that much more left over each month, a bank account that skips unnecessary fees can make your money work harder for you.¹

You deserve simplicity, convenience and transparency when it comes to your bank account. Our app is designed with you in mind, allowing you to easily manage your money on-the-go without worrying about unnecessary add-ons to do the essentials. You’re the one in charge here, not us.

Kickstart your financial journey with Varo

The rise of no fee banking is a seismic shift in the banking world, challenging what traditional banks have gotten away with for years and empowering everyday Americans to elevate their financial journey.

It’s time to say goodbye to being held hostage by bank fees and join a bank that puts you above all else. We promise to charge no hidden fees to help you keep more of your money for what you need. You know, the important stuff.

Level up your financial journey and unlock the true potential of your money with Varo today!

Unless otherwise noted above, opinions, advice, services, or other information or content expressed or contributed by customers or non-Varo contributors do not necessarily state or reflect those of Varo Bank, N.A. Member FDIC (“Bank”). Bank is not responsible for the accuracy of any content provided by author(s) or contributor(s) other than Varo.

¹ Varo does not charge many fees.  A list of the fees we do charge can be found here. 

² There is no fee to use any U.S.-based Allpoint® ATM.  Varo charges a $3.50 fee for cash withdrawals at all non-Allpoint® (out of network) and all international ATMs. Additional third-party fees may be assessed by the ATM owner. All ATM fees will be charged to the Varo account used for each transaction.

³ We will decline or return transactions when you do not have enough money in your account to cover the charge. However, you could still end up with a negative balance if, for example, a transaction is approved for one amount, but then the actual charge is more than what you have in your account (like when you add a tip at a restaurant after the transaction for the meal was already approved). This could also include preauthorized ACH transfers that are scheduled, recurring and/or pending but have not yet settled. If your account balance remains negative, activity will be evaluated and your account could be closed. Even if you have a negative balance, we will not charge you an overdraft fee.