Hidden fees?
No, thanks.
We don’t have many fees, but here are the few we charge.
Get a Varo Bank Account with no monthly fees or minimum balance.
Varo Bank Account
No fees for…
- Zero dollar balance
- Overdraft: we don’t charge overdraft fees to help you spend only what you have*
- Monthly maintenance
- Transactions at 55K+ Allpoint ATMs (at everyday places like Target, Walgreens, etc.)
- Depositing checks using the Varo app
- ACH bank transfers
- Varo Bank to Varo Bank transfers
- Closing your account
- Card replacement (for regular USPS delivery)
- Foreign transactions
A few fees for…
- Out-of-network (non-Allpoint) ATM withdrawals**: $2.50 per transaction
- Cash deposits via third party money transfer services***: The deposit location may charge up to $5.95 for this service
- Over-the-counter cash withdrawals: $2.50 per transaction
Varo Savings Account
No fees at all, including no fees for…
- Zero dollar balance
- Monthly maintenance
- Depositing checks using the Varo app
- Savings tools to help you save automatically
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Varo Advance
No fees for…
- Monthly subscription
- Late payment
- Return payment
A few fees for…
- Varo Advance: Fees are charged per Advance and currently are:****
$20 Advance: $0 fee
$50 Advance: $3 fee
$75 Advance: $4 fee
$100 Advance: $5 fee
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Varo Believe
No fees for…
- Monthly maintenance
- Annual subscription
- Transactions at 55K+ Allpoint ATMs
- Cash advance
- Return payment
- Going over-the-spending limit
- Card replacement (for regular USPS delivery)
- Foreign transactions
Just a few fees for…
- Out-of-network (non-Allpoint) ATM withdrawals**: $2.50 per transaction
It’s time for a bank that treats you better.
No monthly account maintenance fees or minimum balance. No transfer fees. No foreign transaction fees.
No minimum balance requirement – we don’t charge fees based on your balance.
FAQs About No Hidden Fees
Why do other banks charge fees on accounts and credit cards?
Traditional banks with branches have to charge fees to cover overhead costs and services their locations provide. Varo is all digital, so we don’t have to pay those costs and we pass those savings to you.
What are the fees for using an out-of-network ATM?
We charge a $2.50 ATM Withdrawal Fee for out of network (non-Allpoint®) ATM withdrawals. If you use a non-Allpoint network ATM, including for checking your balance, you may be charged an additional fee by the ATM operator. To avoid ATM fees altogether, use an Allpoint ATM at stores like Target, Walgreens, and CVS.
Are there fees to close a bank account?
No. while we’d hate to see you go, we will never charge you for leaving. We’re always making improvements, so we encourage you to keep your account open to see what we do next. However, if you’d still like to close your account, we’ll do everything we can to make the process hassle-free.
What specific fees do I avoid when I open a Varo account?
The Varo Bank Account and Savings Account have no hidden fees. That means Varo won’t charge a fee for ATM withdrawals at 55,000+ Allpoint® ATMs in stores like CVS, Target, and Walgreens. Here are some more fees Varo doesn’t charge when you open and keep a Varo account: minimum balance fees, monthly maintenance fees, or foreign transaction fees.