Varo offers a fee-free mobile banking solution with all-in-one access through the Varo App to a free checking account, free debit card, high-APY free savings account and even personal loans.
Varo allows you to manage all of your basic financial needs within a single platform and replace your traditional bank account.
There is currently a Varo Referral Program $75 Bonus available for both new and current customers to get a $75 bonus deposit when the referred customer opens a new Varo Bank Account with 1 direct deposit of $200 or more within 45 days of account opening. This offer is available until March 31, 2020.
The Varo App is now available for both iOS and Android devices at this time.
IMPORTANT – VARO REFERRAL PROGRAM RESTRICTIONS: Please note that Varo is immediately banning anyone who posts their referral link on a third-party site (i.e., people who are not referring their own friends/family) and anyone who signs up through a link posted on a third-party site. If you are banned, you will not be able to refer others, and your referrals may not be eligible to get their bonus either.
Varo Bank Account Features
- Varo Bank Account – Fee-Free Mobile Checking Account with Free Debit Card.
- Varo Visa Debit Card – You Can Make Purchases Anywhere Visa is Accepted, and Your Varo Card is Secured through the Visa Zero Liability Policy.
- Varo Savings Account – High-APY Savings Account with No Monthly Fees. Balance must be at least $0.01 to earn interest.
- Boost Your Varo Savings Rate – Even Higher APY Savings Account if You Meet Qualifications. The Savings Account balance must be $50,000 or less and the customer must 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).
- Varo Personal Loans – Apply for a Personal Loan with Just a Few Steps in the App.
- Fee-Free Banking – You Do Not Pay Any Banking Fees with Varo.
- All-In-One Banking Solution – View All of Your Accounts in a Single Location for Better Financial Management.
- Varo Forecast – View Your Current Financial Status at Any Time to See if You Have Enough Funds to Cover Bills and Other Needs.
- Budgeting – You Can Set Financial Goals and Track Your Spending.
- Recommendations – Varo Will Give You Personal Recommendations to Help You Save More Money.
- Early Direct Deposit – Get Paid up to 2 Days Early.
- Bank Transfers – Easily Move Your Money In and Out of Varo.
- Mobile Check Deposit – Deposit Checks Quickly from Your Phone.
- Easy Money Transfers – Link Square, PayPal, and the Cash App to Transfer Funds.
- Deposit Cash – You Can Deposit Cash into Your Varo Bank Account at Participating Retail Locations Nationwide (merchant fees apply).
- Free ATMs – You Can Access Fee-Free ATMs at 55,000+ AllPoint Locations.
- Apple Pay – You Can Use Varo with Apple Pay or Apple Pay Cash.
- Transaction Alerts – Get Notifications about Your Varo Account Activity.
- Direct Debit – You Can Pay Bills Online with Your Varo Account Information.
- Send Paper Checks – Varo Will Mail Any Check for You.
- Bill Pay Calendar – Stay on Top of Your Bill Due Dates.
- Security – Your Varo Account Deposits are Insured for at least $250,000 through The Bancorp Bank, Members FDIC.
- Varo Customer Support – Customer Support Agents are Available to Answer Your Calls from Monday through Friday, 6:00 AM to 9:00 PM, and from Saturday through Sunday, 8:00 AM to 6:00 PM PST
To open a Varo Bank Account, you simply download the Varo App from VaroMoney.com (non-referral link) and sign up in a few simple steps.
Varo Referral Program $75 Bonuses for Both Customers
Important: Please note that Varo’s referral program is only intended to be used for inviting personal friends, family, and known acquaintances. Varo will ban anybody who posts referral links on third-party websites as well as the people who use those links to join.
If you are a current Varo Bank Account member, you may participate in the Varo Referral Program to earn up to a maximum of $500 (per lifetime) when you refer your friends to join Varo, and your friends will also receive a special bonus when they open a new Varo Bank Account using your referral.
This Varo referral promotion is available to eligible members in the Android and iPhone apps, and you can find your unique link in your app on the Dashboard screen if you have an iPhone, or in Settings > Invite Friends if you have an Android.
If you have an open Varo account and are eligible for the referral program, you will get access to your own unique referral link that allows you to share a special $75 bonus with your friends when they open a new Varo Bank Account, and you’ll receive a $75 bonus for each new customer that you refer who meets the qualifications.
The referee must register their email address using the referring Varo member’s unique link, open a Varo Bank Account using the same email address, and then have 1 qualifying direct deposit of $200 or more into the account within 45 days of opening.
A qualifying direct deposit must be at least $200 (2 or more that add up to $200 do not qualify) of the referee’s payroll, pension, or government benefits (such as Social Security) from their employer or the government.
Transfers from outside accounts or peer-to-peer payments (such as PayPal or Square) do not qualify.
The deposit must post to the Varo Bank Account within 45 days of opening.
Bonuses will be deposited into both the Varo member and referee’s Varo Bank Accounts within 7 days of the first qualifying direct deposit posting to the referee’s Varo Bank Account.
Varo members may qualify for up a maximum bonus total of $500 per lifetime.
At this time, only customers who have an open Varo account are eligible to participate in the program.
The referee must be a new Varo member with no prior Varo accounts.
If you’re looking for a fee-free mobile banking solution to control all of your basic financial needs in a single location, take advantage of the Varo App to get an all-in-one solution for your banking needs.
You may also be interested in a Simple Bank Account for an easy online banking solution.