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Varo Banking

All Varo deposits are FDIC insured to at least $250,000 through The Bancorp Bank; Member FDIC

All Varo deposits are FDIC insured to at least $250,000 through The Bancorp Bank; Member FDIC

Varo Banking

by Varo Money inc
Varo Banking
Varo Banking

What is it about?

All Varo deposits are FDIC insured to at least $250,000 through The Bancorp Bank; Member FDIC.

App Details

Finance Utilities
Last updated
February 11, 2019
Release date
June 14, 2017
More info
Varo Banking siri commands

Varo Banking supports Siri commands

Varo checking balance
What's my Varo account balance?
Varo checking balance
What's my Varo account balance?

App Screenshots

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App Store Description

All Varo deposits are FDIC insured to at least $250,000 through The Bancorp Bank; Member FDIC.

Ditch fees¹ with a Varo Bank Account. Get a Varo Visa® Debit Card you can lock instantly in the app and use everywhere Visa debit cards are accepted.

- Fee-free withdrawals at more than 55,000 Allpoint® ATMs worldwide
- No foreign transaction fees
- No monthly maintenance fee
- No minimum balance requirement
- No ACH transfer fee
- No over-the-counter cash withdrawal fee
- No debit card replacement fee
- Free paper check mailing
- Get paid up to 2 days early with Direct Deposit³
- Use Apple Pay™ for quick and easy payments without grabbing your card

Save money automatically and strengthen your savings habit with a Varo Savings Account.

Earn interest you’ll actually notice. Start earning 2.12% APY¹ then, earn up to 2.80% APY¹.

Requirements to Earn 2.80% APY¹:

To earn 2.80% APY¹, maintain a Savings Account balance of $50,000 or less and meet BOTH of the following requirements:

- Receive payroll or government direct deposits totaling at least $1,000 each month into the Varo Bank Account
- Use the Varo Visa® Debit Card to authorize at least 5 purchases each month (excluding ATM or Over-the-Counter Cash Withdrawals and P2P transfers)

To qualify for 2.80% APY¹, you will first need to set up direct deposit, and receive and activate your debit card. Until the qualifying direct deposit(s) are posted and debit card purchase transactions made, you will earn 2.12% APY¹.

But there’s even more to a Varo Savings Account:
- Turn on automatic savings tools to save money without thinking
- No minimum balance requirement, no fees ever
- Funds are FDIC insured to at least $250,000 through The Bancorp Bank; Member FDIC

Take the work out of money management.

- Deposit checks with 2 pictures in the app
- Track spending and account activity with instant alerts
- Link your external checking, savings, and credit cards to see all your finances on one screen
- Transfer money to and from your external accounts in a few taps
- See how much leftover money you’re projected to have after paying bills

Breathe easy—your security is our priority.

- We’ll never compromise when it comes to protecting your money and data
- Your money is protected with Visa Zero Liability⁴
- Your data is protected with advanced 256-bit AES level encryption, access control, secure processes, and audits

Need a hand? You can always contact Utah-based Customer Service, 7 days a week.

¹Varo Annual Percentage Yield (APY) is accurate as of January 29, 2019. This rate is variable and may change. No minimum balance required to open account. Balance in Savings must be at least $0.01 to earn interest.

²Varo 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.

³Faster access to funds is based on comparison of traditional banking policies and deposit of paper checks from employers and government agencies versus deposits made electronically. Direct Deposit and earlier availability of funds is subject to payer’s support of the feature and timing of payer’s funding.

⁴You 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.

Apple Pay is a trademark of Apple Inc.

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