Bigger Advances, Better Peace of Mind: Announcing Varo Advance up to $500!

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We heard you loud and clear!

In a strategic move to curb financial stress and offer a helping hand to customers who need it most, Varo has now expanded Varo Advance to include limits up to $500¹.

Increased support when you need it most

The world doesn't slow down, and neither should your bank. Varo Advance is integrated directly into your Varo app, ensuring you can access up to $500¹ within seconds, without the headache of hidden fees. It's banking at the speed of life, designed for real people with real needs.

Designed with you in mind

Everyone wants the value of their cash advance to be worth the cost, and Varo Advance remains one of the most competitively priced short-term loan amounts on the market². We've listened to your feedback and doubled our advance limit — all to provide more of the financial support that our Varo family deserves.

Here’s what you need to know about Varo Advance and how we provide accessible financial solutions for our customers:

• Varo Advances are offered with a small and transparent one-time fee³.

• Customers have a full 30 days to pay it back — you choose when and how!

• Eligible customers start between $20-250, growing their amounts up to $500 over time¹.

Moving forward together

“We have increased the maximum limit for Varo Advance because our customers living paycheck-to-paycheck have asked for a way to pay for increased living costs without going into costly debt,” says Varo CEO, Colin Walsh.

Varo is paving the way forward, answering your needs with solid, actionable solutions that are grounded in our 2023 directive — to be proactive about the financial wellbeing of our customers. We're on a mission to provide not just a temporary fix, but a means to foster long-term financial health and success in your life.

Get started today or click to learn more about Varo Advance!

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^{1. Varo Advance is a small dollar line of credit. To qualify for Varo Advance you must have an active Bank Account and qualifying direct deposits (QDD) of at least $800 during the current or previous calendar month. Your Varo Bank Account and/or Savings Account must not be overdrawn, and any prior Varo Advance payments must have been made timely.}

^{Once qualified for Varo Advance, you will be assigned a credit limit from $20-$250, based on your account balances, the activity on all of your Varo accounts, your direct deposits, history of timely Advance repayments, and other risk-based factors. Your credit limits may step up gradually to higher amounts over time based on repayment history and other factors. Your eligibility for Varo Advance and your applicable credit limit are evaluated daily, and may change at any time. Your current limit is always available to you by tapping on Varo Advance on the home screen of your Varo app. You may only take one Advance at a time, and you may not add to an existing Advance until it has been paid in full.}

^{Qualifying direct deposits are an electronic deposit of your paycheck, pension or government benefits (such as Social Security or Unemployment Insurance) from your employer or the government into your Varo Bank Account and/or Varo Savings Account. Tax refunds and government stimulus payments, person-to-person payments (such as Venmo and Varo to Anyone), and funds deposited using a Varo routing number are not considered a direct deposit.}

^{2. Based on November 2023 internal Varo research among single standalone loans with repayments of 30 days or less, no subscription fees or early wage payment requirements.}

^{3. Varo Advance fees can be found in the Varo Advance Account Agreement.}