App Store Disclosures

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Free banking

Fees apply to out-of-network withdrawals & cash deposits, Varo Advance, and Varo Line of Credit. A full list of Varo fees can be found here.

Early direct deposit

We give access to direct deposits from employer and government payers on the day we receive them, typically up to 2 days earlier than your scheduled pay date.

Free cash deposits at CVS

Available at all stand-alone CVS® locations (through Green Dot Network®) with a cashier in the US except those located within hospitals, on military bases, or in Target. You can deposit between $20-$500 per transaction. A fee may apply for depositing cash at other Green Dot Network® locations.

Mobile check deposits

Access to mobile deposit and deposit limits are set based on how long your Bank Account has been open and your prior account activity. Quals apply.

Free in-network ATMs

No fee at U.S. based Allpoint® ATMs. $3.50 fee for cash withdrawals at all out of network & international ATMs. 3rd-party ATM fees may apply. Fees will be charged to the Varo account used for each transaction.

More than 2x the number of ATMs than individual big banks

Based on a review of the following webpages as of November 26, 2024:

Chase: https://www.chase.com/digital/atms
Bank of America: https://newsroom.bankofamerica.com/companyoverview
Wells Fargo: https://www.wellsfargo.com/atm/tour/

Cashback

Cashback available on specific items or services purchased with your Varo Debit Card or Varo Believe Card at select brands/retailers. Offer details may vary, see the Perks tab for more details and current deals. The maximum Cashback that can be earned is two-hundred dollars ($200 USD) per calendar month.

Digital wallet integration

Some customers will have immediate access to a digital debit card, which you can use for online purchases, or add to your digital wallet. For security and privacy reasons, digital cards are not available to all customers. If you’re eligible for a digital debit card, you’ll see a screen titled Early access to your card pop up in your app. For more information visit Varo Support: https://support.varomoney.com

The Varo Visa® Debit & Believe Cards are issued by Varo Bank, N.A. pursuant to license from Visa U.S.A. Inc.

No overdraft fees

Transactions will be declined when you don’t have sufficient funds. You could have a negative balance if a transaction is approved for one amount, but the actual charge is more than what you have in your account, but we won’t charge you an overdraft fee.

Testimonials

Testimonials reflect real experiences of Varo customers. Results & experiences vary.

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Up to 5.00% APY (annual percentage yield)

Annual Percentage Yield (APY) is accurate as of January 22, 2025. Start earning 2.50% APY, then qualify to earn 5.00% APY on your balance up to $5,000.00 next month by 1) Receiving direct deposit(s) totaling $1,000 or more; and 2) Ending the month with a positive balance in all your Varo Accounts.

The requirements must be met within the Qualifying Period begins on the first calendar day of the month and ends at close of business (4:25 pm MST/ 3:25 pm MDT) on the last business day of the month. Meet the requirements in the current month to qualify to earn 5.00% APY for the following month.

Qualifying direct deposits

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 to the extent that can be identified. Tax refunds and government stimulus payments, Person-to-Person payments (such as Venmo or Varo to Anyone), and funds deposited using a Varo routing number are not considered a direct deposit.

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Varo Believe credit-builder card

Varo Believe is a secured credit card designed to help you build credit; however, a variety of factors impact your credit and not all factors are equally weighted. You must add money before using, money added sets the spending limit. Funds spent are held in your Varo Believe Secured Account to pay off any balance in full monthly, when due. Quals apply.

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.

The Varo Visa® Debit & Believe Cards are issued by Varo Bank, N.A. pursuant to license from Visa U.S.A. Inc.

Safe Pay

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.

40+ point increase in credit score

As of November 18, 2024, customers who had an existing VantageScore® 3.0 credit score showed an average increase of approximately 40 points after three months using Varo Believe and on time payments. Individual results may vary, and some customers may not see a score increase.

90% of Believe users w/o a credit score had one after one month

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.

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Varo Advance

Varo Advance(VA) is a small dollar line of credit. Initial limits range from $20-$250, work your way up to $500 over time. Fees range from $1.60 - $40 based on loan amount. Current limit can be viewed in the Varo App. Only one outstanding advance at a time, must be repaid in full prior to requesting a new advance. Varo Bank Account, with minimum Qualifying Direct Deposit (QDD) of $800 in current or previous calendar month required. Limits and eligibility evaluated daily and may change at any time. Add'l qualifications apply.

Automatic payments for Varo Advance

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.

Cash advance competitor comparison

Based on November 2024 internal Varo research among single standalone loans with repayments of 30 days or less.

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Varo Line of Credit (VLOC)

The Varo Line of Credit (VLOC) is a short term loan with credit limits ranging from $600 - $2000. A flat fee of $60 to $400 is assessed with each advance based on the amount. Once qualified your credit limit may fluctuate based on a variety of factors. You may only take one VLOC advance out at a time. Eligibility and/or credit limit information is available in the Varo App. Quals apply.