Bank fees are not required, so we don’t charge them. We offer a premium, mobile-only Bank Account with:
- Varo Visa® Debit Card with EMV chip you can lock instantly in the app
- NO fee at more than 55,000 Allpoint® ATMs² worldwide
- NO monthly maintenance fee
- NO minimum balance requirement
- NO ACH bank transfer fee
- NO debit card replacement fee
- NO foreign transaction fee
- NO paper check mailing fee
- NO over-the-counter cash withdrawal fee
- Mobile check deposit in the app
- Real-time transaction Alerts to stay on top of daily spending and activity
- Apple Pay™ for quick and easy payments without ever taking out your wallet
- Friendly Customer Service based in Utah and available 7 days a week
Save easy now, breathe easy later with high-yield savings. Your money works hard, but with our automatic savings tools, you don’t have to.
- 2.10% Annual Percentage Yield (APY) from a Varo Savings Account³
- NO minimum balance required to open and NO fees
- Funds are FDIC insured to at least $250,000 through The Bancorp Bank; Member FDIC
- Automatic tools, like Save Your Pay and Save Your Change, that let you save without thinking
Smart choices are good choices, and we’re making them easy. See the complete picture of all your accounts with our smart money management tools.
- Link all your checking, savings, loans, and credit cards
- Use Forecast to see your leftover money after paying the bills
- Get a summary of your current cash balances and a 30-day view of your cash flow health
- Get personalized recommendations for smart things to do with your money
We’re serious about your security.
- Protecting your money and data with bank-level security is critical for us, and we’ll never compromise
- Varo account deposits are insured up to at least $250,000 through The Bancorp Bank; Member FDIC
- Instantly lock and unlock your card in the app whenever you need
- Stay protected from fraud with Visa Zero Liability⁴
- 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 does not charge fees for ATM withdrawals, but some ATM operators will if you’re not in their network. To avoid ATM fees altogether, use an Allpoint Network ATM. There are more than 55,000 locations worldwide.
³Varo Annual Percentage Yield (APY) is accurate as of January 1, 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.
⁴You must notify your financial institution immediately of any unauthorized use. For specific restrictions, limitations and other details, please consult your issuer.
Faster 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.
Apple Pay is a trademark of Apple Inc.
The Varo Savings Account now comes with a 2.10% Annual Percentage Yield (APY). There are no fees, no minimum balance--just one great rate to build your savings!
Ratings and Reviews
Loving my account, but one dislike...
I am very happy with 99% of Varo, from account to Customer service, but my one dislike is that when I open the app, I find it so confusing seeing all of my linked accounts, and needing to really double check how much money is actually in my Varo account and not a total amount between all of my banks... I kind of primarily open the Varo app to double check my Varo balance prior to using my Varo card, and certainly can’t make any purchases using the amount available between each of my linked accounts, so I personally feel like that feature should be set further in the background and not the main attraction when you open the app. I absolutely do like having the ability to see everything together at a glance, but I truly hate it being so difficult to zone in on the Varo account, which is the major reason why you would open the app instead of opening the app for your other accounts, no?? It would be nice if maybe you could be able to customize your home screen to focus on what’s most important to each person.... Not a big enough reason to make me dislike the bank account, but just something that irks me about the app itself...
CONVENIENT, BUT STILL NEEDS A TON OF WORK!!!
I just so happened to find Varo in app store & tried it out. After my acct was open & I received my card, I quickly realized just how difficult it is to get money into the darn account other than Direct Deposit! The most frustrating part is that you can link your other bank accts to Varo acct (AWESOME RIGHT??!! WRONG!!!) It's almost IMPOSSIBLE!!! They put you through 10 steps that you have to keep watching or coming back to, but don't wait too long because then you have to start all over!!! VERYYYYYY hard to tell what company to select because they have too many options for each Bank!! EX: Capital One, my credit card acct SHOULD EASILY CONNECT through the "Capital One Credit Cards" option, you'd think that's simple enough to assume it's correct...??!! Right??? NOPE!!!! GOOD LUCK!!! No matter how many times I tried to get it connected, no matter how many different Capital One options I tried to look it through... IT JUST DOESN'T WORK!!!!! I went through TWO days worth of trying LITERALLY, just to get my Bank Of America checking acct linked!!! It's ssooooo frustrating!! They absolutely NEED to make their app/website options EASIER AND PEOPLE FRIENDLY... If they can do that, I'm sure Varo will be around for a long time!!!
PS: and get a better Customer Service department!
Developer Response ,
We're sorry to hear about your experience linking your bank accounts. We continue to work on improvements to the linking process, making connections easier and more reliable. If you send a message to firstname.lastname@example.org we can certainly help troubleshoot your accounts connections.
Beware FrOZEN ACCOUNT
I had no problems with Varo up until an hour ago. First the chip on my card over the last week has not been working but since I didn’t get a phone call stating there was any sort of problem I kept using it by swiping instead. Fast forward to today. I am in Burlington cost factory and need to make two separate purchase my chip doesn’t work nothing new there, transaction went through by swiping. Now I go to do the second transaction and it declines, three times. I call Varo to only find out they have FROZEN my account without Even so much as a phone call. Ever other bank CALLS you FIRST to see if it’s you before they freeze your money. Now I am stranded without any money for at least 48 hours and a supervisor wouldn’t even speak to me!! This is not acceptable not to mention embarrassing when you’re in the store. A bank should not have any right to keep YOU from your OWN MONEY!! Needless to say once this gets straightened out I’ll be closing my account and telling everyone I know to not do business of any kind with VARO who holds your own money hostage and leaves you broke so you can’t even put gas in your car if you need to. And the fact the supervisor wouldn’t talk to me is extremely unprofessional and to me speaks volumes, they know they did wrong otherwise why wouldn’t he speak to me? I’m beyond upset and completely stressed out over this.
Developer Response ,
Hi Erica - We're sorry to hear about your service experience. We will reach out to you directly to explain and correct this situation. We have emailed you at your registered email address. If you have any additional concerns or questions, please reply to that email. We're here to help!
- Varo Money, Inc.
- 267.7 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, iPhone XS, iPhone XS Max, iPhone XR, 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), iPad Pro (11-inch), iPad Pro (11-inch), iPad Pro (12.9-inch) (3rd generation), iPad Pro (12.9-inch) (3rd 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.