Visa® Debit Card is issued by Varo Bank, N.A. pursuant to a license from Visa U.S.A. Inc and may be used everywhere Visa debit cards are accepted.
1There is no fee to withdraw money from any Allpoint® ATM. There is a $2.50 ATM cash withdrawal fee assessed by Varo Bank for all non-Allpoint® ATM transactions (out of network transactions). The ATM operator may charge an additional fee.
2We will decline or return transactions when you do not have enough money in your account to cover the charge. However, you could still end up with a negative balance if, for example, a transaction is approved for one amount, but then the actual charge is more than what you have in your account (like when you add a tip at a restaurant after the transaction for the meal was already approved). If your account balance remains negative, activity will be evaluated and your account could be closed. Even if you have a negative balance, we will not charge you an overdraft fee.
3We give you access to your direct deposits from employer and government payers on the day we receive them, which is typically up to 2 days earlier than your scheduled pay date.
4The Varo Believe Secured Credit Card is designed to help you build your credit; however, a variety of factors impact your credit including payment history, utilization, derogatory marks, account age, total number of accounts, and inquiries–not all factors are equally weighted. Building your credit may take time and is a process, but the Varo Believe Card may be able to help.
5Varo 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 must maintain direct deposits in your Varo Bank Account or Varo Savings Account of at least $1,000 over the past 31 days, and neither account can be overdrawn, suspended, or closed. Direct deposits need to be an electronic deposit of your paycheck, pension or government benefits (such as Social Security) from your employer or the government. Person to Person payments (such as Venmo) are not considered a direct deposit. Funds deposited using a Varo Money routing number are not considered a direct deposit. For $20 Advances, your qualifications will be evaluated daily. For Advances over $20, fees apply, and your payment history and qualifications will be reviewed monthly for any credit limit increases. To continue to qualify for Advances, payments must be made on time. Here’s more information on how the Varo Advance product works.