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Get a cash advance with Varo® Advance1

Borrow up to $250 to cover bills or any unexpected expenses. Start at $20 and qualify for higher limits2 based on direct deposit amounts3 and a history of timely repayments. No interest and one simple fee for Advances above $20.

Stretch your paycheck

About to get to the register and need extra cash? Just had an unexpected expense? Tired of paying overdraft fees? We’ve got you covered. 

Varo Advance helps you stretch your paycheck. It gives you breathing room to keep control of your balance and offers peace of mind so you can focus on what matters most in your life.

It’s cash at the tap of a button. 

Stop paying overdraft fees. Stop paying unexpected fees. Stop paying unfair late fees.

How Varo® Advance works

Start borrowing with a quick and easy $20 spot. It costs nothing and will go straight to your Varo Bank account once you qualify.

The more you borrow and pay back on time, and the more you direct deposit each month, the more cash you can borrow.

There’s just one simple fee for any cash advances over $20. And you’ve got 30 days to pay us back. You choose exactly when and how you want to do it.

Advance
Fee
$20$0
$50$3
$75$4
$100$5
$150$7.50
$200$10
$250$12.50

Qualifying for a cash advance is super easy.

Just make sure you’ve:

  1. Got an active Varo Bank Account that’s at least 30 days old.
  2. Activated your Varo Debit Card.
  3. Set up direct deposits and received $1,000+ in direct deposits within the last 31 days.

*Additional qualifications apply.

Upon qualification, you will have access to a $20 Advance. Once you successfully repay, you may qualify for higher limits based on direct deposit amounts, a history of timely repayments, and any other qualifications.

FAQ

What is Varo Advance?

Varo Advance is a small-dollar line of credit. An “advance” is a loan deposited to your Varo Bank Account which must be repaid. Qualifications apply. To continue to receive advances, you’ll need direct deposits of $1,000+ over the past 31 days to your Varo Bank Account or Varo Savings Account, and neither account can be overdrawn, suspended, or closed. We’ll check your eligibility for Varo Advance daily.

Advance customers start with $20 and if qualified, may step up gradually over time. For Advances over $20, your Advance repayment history, qualifying direct deposits, and any other qualifications will be reviewed to determine any change to your credit limit. Fees apply to advances over $20. Reaching the higher limits can take time.

To continue to qualify for Advances, payments must be made on time. You can see the Advance amounts available to you by tapping on Varo Advance on your home screen.

How many advances can I get with Varo Advance?

You can get one Advance at a time, and you’ll need to repay the Advance before requesting another one.

How do I qualify for Varo Advance?

You’ll qualify for an Advance if:

You’ve activated your Varo Bank debit card. Your Varo Bank Account is active (not closed or suspended) and in positive standing.

Your Varo Bank Account and/or Savings Account has an available balance equal to or greater than $0.00.

Your Varo Bank Account is at least 30 days old. You’ll need at least $1,000 in total qualifying direct deposits* to either your Varo Bank Account or Savings Account, or both combined, within the last 31 calendar days.

We’ll check your eligibility for a $20 Varo Advance daily. If you qualify, you will see the Advance amount available to you by tapping on Varo Advance on your Varo app’s home screen and then applying for an Advance in the app. If approved, you can then get the Advance immediately.

We will check your eligibility to see if you qualify for higher limits based on your Advance repayment history, qualifying direct deposits,3 and any other qualifications.

How much can I borrow with Varo Advance?

When you qualify for Varo Advance, you’ll start off with a $20 limit — for free!

You can see the Advance amounts available to you by tapping on Varo Advance on your home screen. Keep in mind, your Advance limit may increase or decrease depending on your direct deposit and Advance repayment history. It’s important to repay your Advance to continue using Varo Advance.

How does a cash advance work?

There are a few different kinds of cash advances. For a credit card cash advance, you use your credit card to withdraw cash at the ATM. Varo Advance is different – Once you qualify for Varo Advance, you simply tap a button in the Varo app to borrow the amount you’re eligible for. You start at $20 and over time, you may qualify for higher amounts up to $250, based on direct deposit amounts, a history of timely repayments, and other qualifications. Reaching the higher limits can take time.

Does a cash advance hurt my credit score?

Credit card cash advances raise your credit utilization, which can negatively impact your credit score. Cash advances with Varo Advance have no impact on your credit score.

Do you have to pay back a cash advance?

Yep, you’ll need to pay back a cash advance. Varo Advance lets you choose your repayment date, within 15-30 days from when you get your Advance.

How quickly can I get a cash advance?

You can get cash fast with a traditional cash advance, but typically it’s an expensive way to borrow money. Varo Advance lets you borrow at the tap of a button once you qualify. You’ll first have access to a $20 advance, which is free. Advances over $20 come with one small fee between $3 and $12.50, depending on the Advance amount. Over time, you may qualify for higher amounts up to $250, based on direct deposit amounts, a history of timely repayments, and other qualifications. Reaching the higher limits can take time.