SuperMoney
  Varo Savings Account

Varo Savings Account

in Savings Accounts from Varo · fdic

Unaffiliated

Varo Savings Account

Unaffiliated

in Savings Accounts from Varo · Member FDIC

Net Recommendation Score +100

SUPERMONEY NET RECOMMENDATION SCORE

This product is strongly recommended by SuperMoney users with a score of +100, equating to 5 on a 5 point rating scale.

+100

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.

Rating not yet determined  

4 users recommend
0 users are unsure
0 users don't recommend
Cast your vote

Would you recommend Varo Savings Account to your friends?

Thanks for your vote!

You voted: May or may not recommend

Highlights
Community Rating

Rating not yet determined  

Monthly Fee $0
APY (Annual Percentage Yield) 0.20% - 3.00%
APY Minimum Balance $0

Varo Savings Account Review

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

Key Takeaways
  • Very high APY. This account offers an annual percentage yield of up to 3.00%, which is much higher than the average for a checking account.
  • $0 monthly fee. This account does not charge a monthly Service Charge.
  • No minimum initial deposit. There is no minimum balance required to open an account.
  • Bill pay. Pay your bills to practically anyone in the United States through Varo.
Varo savings account Pros & Cons
Pros Cons
  • Available in all 50 states.
  • High-interest yield.
  • Free debit card
  • Access to a nationwide network of ATMs.
  • No charge on incoming domestic or international wire transfers.
Varo savings account FAQ

Are savings accounts from Varo federally insured?

Yes, your Varo savings 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.

Does Varo offer a signup bonus?

Varo savings account has a signup bonus of $0 with a $0.01 deposit.

What is the minimum initial deposit for Varo savings account?

There is no minimum deposit to open a Varo savings account.
Varo Savings Account Minimums
Description
APY Minimum Balance $0
Minimum Balance to Avoid Monthly Fee Starting at $0
Minimum Direct Deposit to Avoid Monthly Fee $1,000
Minimum Opening Deposit Starting at $0

What APY does Varo offer?

Varo savings account offers an APY starting at 0.20% and ranging up to 3.00% (APY stands for annual percentage yield, rates may change).

What fees does Varo savings account charge?

Varo savings account does not charge a monthly service fee. See the fee breakdown section below to view all fees.

Avoid the monthly fees by setting up a direct deposit of at least $1,000.

What features and perks does Varo savings account offer?

This savings account includes the following features:

  • Free Online Bill Pay - Online Bill Pay allows you to pay bills easily from your account.
  • Mobile Banking Services - Varo savings account allows you to manage your money online or with a mobile app. This includes depositing checks in your account with a mobile app on your smartphone.
  • Nationwide ATM network - Conveniently transact at a nearby ATM.

Can you set up a direct deposit to Varo savings account?

In most cases, the answer is yes. However, it depends on the direct deposit program your employer uses. Most direct deposit programs allow you to send your paycheck to a savings or checking account. In some cases, you can even split your paycheck between the two.

What is the customer support email for Varo savings account?

The customer support email for Varo savings account is help@varomoney.com.

How do people rate the customer service and user experience of Varo savings account?

Overall, Varo savings account is strongly recommended based on community reviews that rate customer service and user experience.

SuperMoney Disclosure: SuperMoney.com is an independent, advertising-supported service. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. Read more...
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

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

Feature Breakdown

APY Minimum Balance $0
Minimum Balance to Avoid Monthly Fee Starting at $0
Minimum Direct Deposit to Avoid Monthly Fee $1,000
Minimum Opening Deposit Starting at $0
Early Account Closure $0
Monthly Fee $0
Paper Statement Fee $0
Returned Deposit Fee (Domestic) $25
Account Features
  • Free Bill Pay
  • Mobile Check Deposit
  • No Monthly Maintenance Fee
  • Interest Bearing Account
  • Nationwide ATM Network
  • Mobile Banking
  • Debit Card
  • Automatic Transfers
  • Bauer Financial A+/A Rating
  • Member FDIC
Signup Bonus Starting at $0
Signup Deposit Requirement $0.01
APY (Annual Percentage Yield) 0.20% - 3.00%

Varo Savings Account Community Reviews

 

Would you recommend Varo Savings Account to your friends?

Before we publish your vote:

Please explain your vote by sharing your experience.

Writing a review increases the credibility of your vote and helps your fellow users make a better-informed decision.

Please write a review to submit your vote
(will require moderator approval)

SUPERMONEY NET RECOMMENDATION SCORE

This product is strongly recommended by SuperMoney users with a score of +100, equating to 5 on a 5 point rating scale.

+100

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.

sorted by

Other Savings Accounts