Fee free is the only way to bank: welcome to Varo.
Switch to Varo, a premium mobile Bank Account¹ with none of the costs.
- 1.50% Annual Percentage Yield (APY) for Varo Savings Account²
- Great customer service, 7 days a week
- No minimum balance requirements
- No monthly maintenance fee
- Free ATM withdrawals at over 55,000 locations³
- Free foreign transactions
- Free ACH bank transfers
- Free paper check mailing for Bill Pay
- Free over-the-counter cash withdrawals
- Varo Visa® Debit Card with EMV chip (and replacements)
- Automatic savings with Save Your Pay and Save Your Change features when you open a Varo Savings Account
- In-app budgeting tools
- Transaction Alerts to stay on top of daily spending and activity
Your full financial picture
- See all your accounts in one place
- Link all of your checking, savings, loans, and credit cards
- See your leftover money after bills and expenses in one glance
- Summary of your current cash balances
- 30-day view of your cash flow health
- Income and upcoming bill predictions
- Personalized recommendations
- When you keep your money with Varo, we take our responsibility to protect it seriously. We protect your data with bank-level security
- Varo account deposits are insured to at least $250,000 through The Bancorp Bank; Member FDIC
- Fraud protection through the Visa Zero Liability Policy⁴
- Your data is protected through advanced 256-bit AES level encryption, access control, secure processes, and audits
¹Bank 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.
²Varo APY is accurate as of 07.01.2018. Keep in mind, this rate is variable and may change. APYs for other banks reflect the top 5 national banks provided by mybanktracker.com and are accurate as of 05.14.2018. The balance in Savings must be at least $0.01 to earn interest.
³Varo charges $0 fees for ATM withdrawals, but some ATM operators will since you’re not in their network. To avoid ATM fees altogether, use an Allpoint Network ATM. There are more than 55,000 locations worldwide.
⁴You must notify your financial institution immediately of any unauthorized use. For specific restrictions, limitations and other details, please consult your issuer.
We updated the Move Money experience in the app. You will find updated, slicker money transfer and bill pay experiences. Not sure what's the best way to Move Money for you? Tap on "Compare move money options" to learn more.
Ratings and Reviews
Might as well go to a regular bank
I was very excited about Varo an how it was completely online until I really needed to use it and was left stranded for a whole weekend. I tried to give Varo a try by depositing my check online and I did it about 2-3 hrs before the cut off time and I was left broke and stranded because I had no money the whole weekend. Before I even made the decision I tried to search how long it would take for the check to deposit but I got no straight forward answers until you go look at all the legal papers. Then I was misinformed that my funds would be available that Friday by a call center agent and then told something completely different by another call center agent. With all these hoops you have to jump through you might as well get a regular bank account. Plus you have to pay to load cash so why not pay to get a bank account that can accept my checks, answer my questions, and load cash free of charge. And the call center doesn't open till 8am PT which is 11am ET so I'm currently sitting here at 8:26am ET with no money in my account and I have to wait till 11 to even ask a question. I'm also confused why I can't access my funds after I've waited all weekend, Varo is just not up to the level of a regular bank, it's more like a psofisticated pre paid card. I will never use Varo again, and I will not recommend to anyone else.
Hi Steve - I'm sorry to hear about your experience depositing a check. I have reached out to you directly to get this issue resolved. We take great pride in offering our customers the best banking experience without any fees. We listen to our customers, and we're constantly improving the service accordingly. Thank you for giving us the opportunity to make this right for you.
DO NOT USE THIS APP. Use SIMPLE instead.
After a first minor bad experience with Uber instant payments, I decided to continue using it. First time I called they said there was nothing wrong with the account and Uber said it was a problem with the card. Almost two weeks later they responded my email with an explanation. So I continued using it.
Second bad experience was with a refund from a body shop, services were paid by the insurance company and the bodyshop offered me two refund options, one by check and another one as a refund to my debit card. I accepted the latter. It took almost ten days to release the funds and not a single email to explain what was going on, so I decided to call. They explained what the issue was, we sorted everything out and funds were released shortly thereafter.
A few days later, without any notices they suspend my account for the same transaction that had been settled and approved. They requested documents, and they were sent. The money in my account was for child support and operating costs for my work. I desperately explained the situation, but nothing helped. I explained why I desperately needed the funds and the response I received from a supervisor was that “child support payments can wait” and she hung up on me.
DO NOT USE THIS APP, there are better alternatives such as Simple or Chime.
Hi Tiago - We take security and safety very seriously, and there are rare instances when transactions need additional review. I sincerely apologize for the inconvenience. We perform these to maintain the security and quality of our service. Thank your for sending the requested documentation. I'm happy we were able to get this issue resolved for you. Thanks for being a Varo Customer.
So I downloaded this as a perk for getting free currency in another app. Decided I’d give it a try. After signing up and linking both my bank accounts I had to wait for an app approval from Varo, okay no worries. I got into the App and it tells me I’ve been declined an account because my personal identification didn’t meet the standards, well they have no standards outlined and nor did they attempt to reach out to me to verify my identity before a final ejection. So I follow the instructions in the app and context customer support by email to get a genetic response, so now I call the customer support line only to have the first agent carrying on a conversation with their Co workers and not even acknowledging my existence. I call back again and I get an agent who has no answers or any clues yet the email gave me the number, I follow up with another email where I’m told “Decision is Final” well how can I link my other bank accounts and credit cards yet not pass ID verification. You’ve got a long way to go if you want to remain in this business Varo at this point you have failed at what makes a financial institution good and that customer service and support! If you want people to trust you with their money you have to do way more due diligence in obtaining and retaining customers,
We are sorry you are unhappy with our service. To be eligible for a Varo Bank Account you must be a citizen and permanent residents of the United States who are at least 18 years of age with a valid Social Security number. When you open a Varo Bank Account, we will ask for your name, address, date of birth, and other information that will allow us to identify you. We also need to verify financial activity to ensure we keep our whole community safe from fraud. When we cannot verify activity, we err on the side of caution in order to maintain the security and quality of our service. Thanks for your interest in Varo.
- Varo Money, Inc.
- 138.6 MB
- Requires iOS 10.0 or later. Compatible with iPhone 5s, iPhone 6, iPhone 6 Plus, iPhone 6s, iPhone 6s Plus, iPhone SE, iPhone 7, iPhone 7 Plus, iPhone 8, iPhone 8 Plus, iPhone X, iPad Air, iPad Air Wi-Fi + Cellular, iPad mini 2, iPad mini 2 Wi-Fi + Cellular, iPad Air 2, iPad Air 2 Wi-Fi + Cellular, iPad mini 3, iPad mini 3 Wi-Fi + Cellular, iPad mini 4, iPad mini 4 Wi-Fi + Cellular, 12.9-inch iPad Pro, 12.9-inch iPad Pro Wi-Fi + Cellular, 9.7-inch iPad Pro, 9.7-inch iPad Pro Wi-Fi + Cellular, iPad (5th generation), iPad Wi-Fi + Cellular (5th generation), 12.9-inch iPad Pro (2nd generation), 12.9-inch iPad Pro Wi‑Fi + Cellular (2nd generation), 10.5-inch iPad Pro, 10.5-inch iPad Pro Wi‑Fi + Cellular, iPad (6th generation), iPad Wi-Fi + Cellular (6th generation), and iPod touch.
- Age Rating
- Rated 4+
- © 2018 Varo Money, Inc.
With Family Sharing set up, up to six family members can use this app.
Get things done within this app using just your voice.