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  Varo Checking Account

Varo Checking Account

in Checking Accounts from Varo · Member FDIC

Unaffiliated

Varo Checking Account

Unaffiliated

in Checking Accounts from Varo · Member FDIC

Net Recommendation Score +100%

SUPERMONEY NET RECOMMENDATION SCORE

+100%

-100% 0% +100%
No one recommends Everyone recommends

Recommendation score measures the loyalty between a provider and a consumer. It's at 100% if everybody recommends the provider, and at -100% when no one recommends.

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3 users recommend
0 users are unsure
0 users don't recommend
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Highlights
Highlights
Community Rating

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Monthly Fee $0
ATM Fee: Out-of-Network $0
Minimum Balance to Avoid Monthly Fee N/A
APY (Annual Percentage Yield) 0%

Varo Checking Account Review

Varo Checking Account is offered by Varo, a bank founded in 2015 and based in San Francisco, CA. Varo Checking Account is available in 50 states (and Washington, DC).

Key Takeaways
  • 0% APY. As with most checking accounts, Varo Checking Account does not pay interest.
  • $0 monthly fee. This account does not charge a monthly maintenance fee.
  • No ATM fees. Varo Checking Account does not charge fees on ATM transactions.
  • Hard credit pull. Varo may require a hard pull on your credit report to open a checking account.
Varo Checking Account Pros & Cons
Pros Cons
  • No monthly fee, overdraft fee, or foreign transactions fee.
  • Direct deposits released up to two days earlier than most other banks.
  • Helpful budgeting tools included in the app.
  • Available in all 50 states.
  • Free debit card
  • No charge on incoming domestic or international wire transfers.
  • Cash deposits move through a third party service, which may charge a fee.
  • Fees for cash deposits from retailers since there are no Varo branches to use.
  • Wire transfers are not available through Varo.
  • No signup bonus.
  • Does not earn interest
  • Not FDIC-insured.
Varo Checking Account FAQ

Are checking accounts from Varo federally insured?

Yes, your Varo checking accounts are insured up to $250,000 per person by the Federal Deposit Insurance Corporation (FDIC). The FDIC is an independent agency of the United States government that protects you against the loss of your insured deposits if an FDIC-insured bank or savings association fails. FDIC insurance is backed by the full faith and credit of the United States government.

What APY does Varo Checking Account offer?

Varo Checking Account is not an interest-bearing account.

What are the account minimums for Varo Checking Account?

Varo Checking Account does not require a minimum initial deposit.

Varo Checking Account Account Minimums
Description Amount
Minimum Initial Deposit $0

What fees does Varo Checking Account charge?

The good news is that this account does not have a monthly service charge.

Varo Checking Account Fees
Description
Monthly Fee $0
Paper Statement Fee N/A
ATM Fee: In-Network $0
ATM Fee: Out-of-Network $0
NSF Fee $0
Overdraft Protection Fee (per transfer) $0
Overdraft Item Fee $0
Early Account Closure $0
Returned Deposit Fee (Domestic) $25
Debit Card Replacement Fee $0
Bank Teller Fee N/A
Check Cashing Fee N/A
Online Bill Pay Fee $0
Stop Payment Fee N/A
Check Image Service N/A
Check Copy N/A
Foreign Transaction Fee (Debit Card) 0%
Wire Transfer Fee - Domestic (Outgoing) N/A
Wire Transfer Fee - International (Outgoing) N/A
Wire Transfer Fee - International (Incoming) N/A
Returned Deposit Fee (International) N/A
Wire Transfer Fee - Domestic (Incoming) N/A
ATM Reimbursement Monthly Limit N/A

What features and perks does Varo Checking Account offer?

This account includes the following features:

  • Mobile Banking Services - Varo Checking Account allows you to manage your money online. This includes depositing checks in your account with your smartphone.
  • Nationwide ATM network - Conveniently transact at a nearby ATM.
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Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author’s alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.

Contact

  • Headquarters
  •   111 Sutter St
    San Francisco, CA 94104
  •   Visit Site

Hours of Operation

  • Sunday 8:00am - 6:00pm
  • Monday 6:00am - 9:00pm
  • Tuesday 6:00am - 9:00pm
  • Wednesday 6:00am - 9:00pm
  • Thursday 6:00am - 9:00pm
  • Friday 6:00am - 9:00pm
  • Saturday 8:00am - 6:00pm

Other Services by Varo

Availability

  Available in 50 states and Washington, D.C.
  • Alabama
  • Alaska
  • Arizona
  • Arkansas
  • California
  • Colorado
  • Connecticut
  • Delaware
  • Washington, DC
  • Florida
  • Georgia
  • Hawaii
  • Idaho
  • Illinois
  • Indiana
  • Iowa
  • Kansas
  • Kentucky
  • Louisiana
  • Maine
  • Maryland
  • Massachusetts
  • Michigan
  • Minnesota
  • Mississippi
  • Missouri
  • Montana
  • Nebraska
  • Nevada
  • New Hampshire
  • New Jersey
  • New Mexico
  • New York
  • North Carolina
  • North Dakota
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Vermont
  • Virginia
  • Washington
  • West Virginia
  • Wisconsin
  • Wyoming

Feature Breakdown

ATM Fee: In-Network $0
Debit Card Replacement Fee $0
Early Account Closure $0
Foreign Transaction Fee (Debit Card) 0%
Monthly Fee $0
NSF Fee $0
Online Bill Pay Fee $0
Overdraft Item Fee $0
Overdraft Protection Fee (per transfer) $0
ATM Fee: Out-of-Network $0
Returned Deposit Fee (Domestic) $25
Bank Account Features
  • No ATM Fees
  • Debit Card
  • Mobile Banking
  • Nationwide ATM Network
  • No Monthly Maintenance Fee
  • Mobile Check Deposit

Varo Checking Account Community Reviews

 

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SUPERMONEY NET RECOMMENDATION SCORE

+100%

-100% 0% +100%
No one recommends Everyone recommends

Recommendation score measures the loyalty between a provider and a consumer. It's at 100% if everybody recommends the provider, and at -100% when no one recommends.

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