Varo Bank: Online Banking

Varo Bank, N.A.

About this app

Varo isn’t just an online banking app. We are a real bank, built for the digital age. Free online banking, early payday³, high yield savings⁷, credit score monitoring, easy credit building⁶, automatic cashbackᵟ, instant cash advances (once qualified)², & more. Quals apply. Fees apply to loans & out-of-network servicesᐞ.

Member FDIC—mobile banking backed by the full faith & credit of the U.S. Government.

FREE ONLINE BANKING
• Early payday³
• No minimums or hidden feesᐞ
• Free debit card
• Free cash deposits at CVS®ᙾ and withdrawals at 40k+ Allpoint® ATMs⁴
• Free credit score monitoring
• Automatic cashbackᵟ—no activation required or single-day windows
• Mobile check deposit (quals apply)ᵟ
• Digital wallet (select customers)ᵟ
• Unlike many money apps, we’re a real bank

INSTANT CASH ADVANCES
• Borrow up to $250 today by linking a qualifying account²
• Work up to $500 cash advances over time with direct deposit²
• Cash advance funded directly into your online bank account
• 30 days to repay (better than a payday advance)
• One-time flat fee per cash advance
• Automatic payments available for money advances⁸

PERSONAL LINE OF CREDIT
• Unsecured personal line of credit from $600 to $2,000 (quals apply)⁵
• No interest, late fees, or penalties
• Credit line with a simple flat fee
• Affordable monthly payments
• Personal loan funded instantly, once qualified
• Money added to your online bank account
• Payment periods between 3 & 12 months

EASY CREDIT BUILDER
• Free secured credit card for credit building⁶
• No credit check, interest, annual fees, or min security deposit
• Build credit by only spending what you have⁹
• Automatic payments available via Safe Pay¹⁰
• Reported to Equifax, Experian, & TransUnion
• Pre-existing credit scores saw a 40+ point increase on avg after 3 months of on-time payments¹¹
• 90% of users with no credit score had a score after one month¹²
• Quals: Must have an active Varo Bank Account in good standing & incoming deposits of $200 or more in the past 31 days.

HIGH YIELD SAVINGS
• Up to 5.00% annual percentage yield on first $5,000, quals apply⁷
• 2.50% APY on additional balances
• Auto-saving tools

SEND MONEY
• Use recipient’s phone number or email address, even if they aren’t a Varo customer
• Fast, secure, & free!

DOWNLOAD NOW!
• Sign up for an online bank account in less than two minutes with no impact on your credit

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Disclosures

©2025 Varo Bank, N.A. All Rights Reserved. Member FDIC

1-7 See disclosures in final app screenshot above
⁸ 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
⁹ 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
¹⁰ 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 than 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.
¹¹ 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
¹² 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
ᐞ A full list of Varo fees can be found at www.varomoney.com/varo-fees
ᙾ See “Free Cash Deposits at CVS®” screenshot above
ᵟ Additional information: www.varomoney.com/disclosures/

Ratings and reviews

I'm so sick of unreliable, inconsistent online banking options. I was automatically approved for a $200 advance, which was paid back on time, along with the very hefty fees that came with it. When I tried to take an advance again, I was not automatically approved and was only offered $75 + the same hefty fees. Instead of rewarding customers for making payments on time, you just give them access to less money? Obnoxious.

Thank you for looking into my account quickly and fixing the issue. Initial review: After being approved for consecutive months, I was suddenly unapproved saying my account had no direct deposits connected, even though nothing changed on my account. The direct deposits were the same as they have always been. This was done after I paid my advance back including a $40 fee!!! Ridiculous.

Update, I was locked out for 6 days. No reason given. Good luck if you bank with them. I'm closing and never dealing with them. They flagged my account abruptly prior to this mother's day weekend! I cannot access my funds and I cannot even speak to the security directly about this issue and to get it resolved immediately after verification documents have been sent in. They say 2 business days. they flagged me yesterday on a Thursday, I submitted that night after work, and told until Tuesday!

What’s new

We’ve been hard at work making the Varo app better than ever. Update to the newest version for the latest fixes and greatest features in the Varo app yet!


Learn more at varomoney.com/whats-new