Make the most of every dollar with a free online bank account that helps you avoid fees while getting paid early¹. Reach your money goals faster with free cash deposits², automatic savings tools, and cashback at select merchants³.
Your Free Bank Account to Get Ahead
YOUR MONEY CAN DO MORE FOR YOU.
Fees apply to loans and out-of-network withdrawals and deposits⁴.
4.9
231k App Store Reviews
4.7
239k Google Play Reviews
Features of our free bank account
Everything you need from your bank.
Personalized financial insights
Budget even better with a smarter bank account.
Track your cash flow daily and see it broken down into different categories within the last two months—all in one easy place.
Named as an 'Innovative App Feature Pushing the Mobile App Experience Beyond Transactions' by The Financial Brand5.
Download Varo
4.9 stars
250k reviews
A truly free online bank account
No sketchy fees. Period.
That’s right.
No monthly fees
No overdraft fees7
No minimum balance required
No in-network ATM fees6
Free cash deposits at CVS2
Whether you’re a student, a parent, or simply looking to get ahead, our free online bank account helps you keep more of your money.
See complete list of fees for optional services here.
Early direct deposit
You deserve to get paid faster.
Get paid up to two days early1 at no additional cost. Do what you want with your money, even sooner.
In-network ATMs with no fees
More than 40,000 ways to get your cash. Fast.
With Varo, finding cash when you need it is more convenient than ever. The U.S. Allpoint ATM network has more than twice the free ATMs6 offered by individual big banks8. Stick with us and skip the fees.
Member FDIC
Insured & secured with the FDIC.
What’s precious to you is precious to us. Don't rely on money apps who stash your cash with third-party banks. We're a legit, nationally chartered bank, so you can count on your money being FDIC-insured for up to $250,000—directly with us.
Sign up in less than two minutes.
Download the app.
Apply for your free bank account.⁴
Add your card to your mobile wallet.
You’re on your way.
In the press
"Neobanks are a dime-a-dozen these days...Not Varo. The digital-only bank is the first consumer fintech to be granted a full-service bank charter..."
"Colin Walsh is on a mission to create a more inclusive digital bank– and he went through the regulatory wringer in the middle of the pandemic to prove it..."
“We’re a direct member of the FDIC, we’re regulated by the OCC, and we’ve made very prudent decisions to build a very effective risk management program that protects our customers” - Colin Walsh
MOMENTS OF PROGRESS ⁹
“The Advance really helps out when things get tight because sometimes the ends don't always meet.”
Demeiia R.
“The Believe card has really improved my credit.“
Malcolm T.
DO MONEY THE WAY YOU WANT.
Sign up for Varo in less than two minutes. There’s no impact on your credit score.
Bank Account FAQs
Is Varo a real bank?
Does Varo have physical branches?
What do I need to open an account?
How do I apply for an online bank account?
How do I make deposits or withdrawals?
Answer
YES. While most money apps store your money with third party banks, Varo was the first fintech to be granted a national bank charter by the OCC. By banking with us, you not only get the benefit of innovative fintech app features, but also have peace of mind knowing that your money is protected by FDIC insurance up to $250,000, directly with us.