PRIVACY, SECURITY, & LEGAL
Varo Bank, N.A. Privacy Policy and Notices
The documents below describe the personal information we collect, what we do with it, how we use it, who we disclose it to, and certain information privacy rights you may have.
Varo Bank, N.A. Legal Agreements
Varo Bank General Terms Agreement
Varo Bank Electronic Communications Agreement
Varo Savings Account Agreement
Varo Advance Account Agreement
Varo Believe Program Agreement
Varo Cashback Program Addendum
Terms and Conditions of the Zelle® and Other Payment Services
Varo Mobile Payment Services Terms Agreement
Community Reinvestment Act (Varo Bank CRA)
In accordance with the Community Reinvestment Act (“CRA”), Regulation BB (Community Reinvestment Act rule’s: §228.43, Federal Reserve, §25.43, OCC, §345.43, FDIC), Varo Bank is required to maintain and make available for public inspection a complete CRA Public File. To view our CRA Public File including our most recent Performance Exam and current Strategic Plan, click here.
Varo Bank fee disclosure chart
Fee | Amount |
|---|---|
Out of network (non-allpoint) ATM withdrawal fee1 | $3.50 per transaction (Cash withdrawal transactions at U.S. based Allpoint ATMs are fee free) |
Cash deposits via third party money transfer services2 | The deposit location may charge up to $5.95 for this service |
Over the counter cash withdrawal fee | $2.50 (per transaction) |
Fee | Amount |
|---|---|
None | $0 |
Advance | Fee |
|---|---|
$20 | $1.60 |
$50 | $4 |
$75 | $6 |
$100 | $8 |
$150 | $12 |
$200 | $16 |
$250 | $20 |
$300 | $24 |
$400 | $32 |
$500 | $40 |
Fees are charged per advance.3
Fee | Amount |
|---|---|
Out of network (non-Allpoint) and international ATM withdrawal fee1 | $3.50 per transaction (Cash withdrawal transactions at Allpoint ATMs in the U.S. are fee free) |
Late fee | $0 |
1 If you use a non-Allpoint network ATM, including a balance inquiry, you may be charged an additional fee by the ATM operator even if you don’t complete a withdrawal: such an additional fee is a third-party fee assessed by the individual ATM operator only and isn’t assessed by us. The ATM fee will be charged to your Varo Bank Account.
2 Third party money transfer services used to add cash to your Bank Account may impose their own fees, and limits (per transaction, daily, weekly or monthly) on the frequency or amount of cash you may deposit to the Bank Account.
3 For Military personnel and their families that qualify as “covered borrowers” under 32 C.F.R. § 232.3(g) at the time of opening their Account, Varo will waive all fees charged per Advance. For more information about how we calculate fees, see here.
Varo Bank Account rate information
The Bank Account is not an interest-bearing account. No interest will be paid.
Varo Savings Account Rate Tiers & Conditions
Deposit balance to obtain APY | APY | Interest Rate |
|---|---|---|
Any Balance | 3.00% | 2.96% |
Tier | APY | Interest Rate |
|---|---|---|
Accounts with a balance of $5,000.00 or less | 5.00% | 4.88% |
Accounts with a balance over $5,000.00 | 3.00%-5.00% | 4.88/2.96% |
There is no minimum deposit required to earn the stated APY. We pay interest only in whole cents. At the end of each interest payment period, usually monthly, fractional interest equal to half of one cent or more will be rounded up and amounts less than half of one cent will be rounded down.
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