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Why banking with no fees is a smart move

Choose a bank that skips hidden fees

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All Varo products and services mentioned below are contingent on opening a Varo Bank Account. Qualifications may apply.

Excessive bank fees dragging you down when you’re trying to be mindful of your money? You’re not alone—traditional banks have gotten way too comfortable with charging customers for pretty much everything.

Luckily, no fee banks have come to the rescue, doing away with all those unnecessary fees and putting cash back in their customers’ pockets. At Varo, we believe your money is your money and our no hidden fee bank account helps you keep it for what’s important. 

Here, we’ll explore why banking with no fees is a smart financial move, and why Varo’s no hidden fee bank account puts you back in control of what you do with your money.

Save big with no monthly fees

Get this—more than 25% of Americans with checking accounts are paying an average of $24 in monthly bank fees2! Talk about money down the drain just for the banking essentials. 

That’s why Varo’s no hidden fee bank account ditches monthly fees altogether, so you can put your money towards what matters and get the most out of a bank account designed with you in mind.

Say goodbye to sneaky charges

Nothing ruins your day quite like a sneaky charge from your bank popping up out of nowhere. Fees when you go slightly over, fees when you’re below the minimum, fees when you deposit checks, fees when you take out cash at ATMs—the list goes on and on at traditional banks. Those fees can add up fast, which is why we decided to do away with them1.

We hate fees just as much as you do, so our no hidden fee bank account has no overdraft fees3, no Zelle® or Varo to Anyone transfer fees4, and no fees to deposit checks, use your debit card, or withdraw cash at 40,000+ free ATMs5. Plus, it’s free to open and there’s no minimum balance requirements, because it should be up to you how much money you keep in your account. 

It’s your money—keep it!

Looking for the satisfaction of knowing that your hard-earned money will stay where it belongs—in your wallet? No fee banking lets you do just that.

Whether it’s keeping on top of your expenses, paying down debt, putting more towards savings, or simply spending it however you want, you know better than your bank where your money should be going. It’s your money, and our no hidden fee bank account lets you keep more of it!

Your money can do more for you with Varo

Choosing a bank with no fees isn’t just a smart financial decision—it’s a step towards making real progress with your money. No matter what your financial goals are, we believe your money can do more for you, especially without pesky fees getting in the way of that progress. 

It’s time to prioritize your financial wellbeing and go with a bank that lets you bid goodbye to the crazy fees that other banks charge. Say hello to a new era of control over your hard-earned 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.


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.

4 To be eligible to enroll in Zelle® at Varo, you must have a qualifying direct deposit in the last 31 days. Once enrolled, you will always be able to access Zelle® at Varo, except that access can be removed at any time if you do not follow our terms and conditions or if you engage in fraudulent activity.

Varo customers that have had any Zelle® transaction in their Varo Bank Account prior to November 3, 2022 will be eligible to enroll in Zelle® at Varo.

Qualifying direct deposits are electronic deposits of your paycheck, pension or government benefits (such as Social Security or unemployment) from your employer or government agency. 

Tax refunds and government stimulus payments, person-to-person payments (such as Venmo), and funds deposited using a Varo routing number are not considered a direct deposit.

Message and data rates from your mobile service provider may apply.

5 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.


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