Welcome to mobile banking that charges no fees, lets you get paid up to 2 days early with direct deposit^, offers easy automatic savings tools, and gives you new ways to manage your money. Forget everything you know about banks. This is banking that actually helps.
LET’S DITCH THE FEES
Your no-fee Varo Bank Account comes with a Varo Visa® Debit Card — which you can safely lock in your mobile banking app — and much more:
• No Fee Overdraft up to $50 (see requirements below)
• No fees at 55,000+ Allpoint® ATMs worldwide. Get cash whenever you need it
• No foreign transaction fees
• No monthly maintenance fee
• No ACH transfer fee
• No fees to send money
• Get paid up to 2 days early with direct deposit^
• Use Google Pay™ and Samsung Pay™ for quick and easy payments
MANAGE YOUR MONEY EASILY
Mobile banking with your no-fee¹ Varo Bank Account helps you stay in control of your money.
• Track spending and account activity with instant alerts
• Send money to and from external accounts
• We’ll mail checks for you for free
SAVE AND EARN MORE
Automatic savings tools let you save and earn money easily. First get a Varo Bank Account, then set up your high-yield Varo Savings Account.
• Automatic savings tools let you save money without thinking
• No minimum balance requirement to earn interest
• Start earning 2.12% APY*, then earn up to 2.80% APY* — make sure your balance doesn’t exceed $50,000 and you meet both of these requirements:
• Receive payroll or government direct deposits totaling at least $1,000 per month into your Varo Bank Account
• Use your Varo Visa Debit Card for at least 5 purchases each month (excluding ATM or over-the counter cash withdrawals and peer-to-peer transfers)
NO FEE OVERDRAFT REQUIREMENTS
To be eligible for No Fee Overdraft to overdraw your Varo Bank Account up to $50 on any transaction except for ATM and Over the Counter withdrawals:
• Receive payroll or government direct deposits totaling at least $1,000 each calendar month into your Varo Bank Account
• Use your Varo Visa Debit Card for at least 5 purchases each calendar month (excluding ATM or over-the counter cash withdrawals and peer-to-peer transfers)
STAY SAFE AND SECURE
Keeping your money and data protected is at the top of our list.
• Your deposits are FDIC insured to at least $250,000 through The Bancorp Bank; Member FDIC
• Your debit card is protected with Visa® Zero Liability‡
• Your data is protected with advanced 256-bit AES-level encryption, access control, secure processes, and audits
¹Varo charges no fees for banking services. While Varo does not charge fees for ATM withdrawals, some ATM operators will. To avoid ATM fees altogether, use an Allpoint® Network ATM. There are more than 55,000 Allpoint locations worldwide.
^Early access to direct deposit funds depends on timing of payer’s submission of deposits. We generally post such deposits on the day they are received which may be up to 2 days earlier than the payer’s scheduled payment date.
*Varo Annual Percentage Yields (APYs) are accurate as of Aug 12, 2019. These rates are variable and may change. No minimum balance required to open account. Balance in Savings must be at least $0.01 to earn interest.
‡You must notify your financial institution immediately of any unauthorized use. For specific restrictions, limitations and other details, please consult your issuer.
Bank Account Services provided by The Bancorp Bank; Member FDIC. The Varo Visa Debit Card is issued by The Bancorp Bank pursuant to a license from Visa U.S.A. Inc and may be used everywhere Visa debit cards are accepted.
Google Pay is a trademark of Google LLC. Samsung Pay is a trademark or registered trademarks of Samsung Electronics Co. Ltd. Samsung Pay is available on select Samsung devices.