| APY (Annual Percentage Yield) | 2.12% - 2.8% |
| APY Minimum Balance | $0 |
| Monthly Fee | $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).
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 balance for Varo Savings Account?
The minimum balance to open a Varo Savings Account is $0.| Description | |
|---|---|
| APY Minimum Balance | $0 |
| Minimum Initial Deposit | $0 |
| Minimum Combined Balance to Avoid Monthly Fee | N/A |
| Minimum Direct Deposit to Avoid Monthly Fee | N/A |
| Minimum Balance to Avoid Monthly Fee | $0 |
What APY does Varo offer?
Varo Savings Account offers an APY starting at 2.12% and ranging up to 2.8% (APY stands for annual percentage yield, rates may change). This is higher than the typical APY for online-only checking accounts, which is around 1% APY.
What features and perks does Varo Savings Account offer?
This account includes the following features:
- Free Bill Pay - Bill Pay allows you to receive ebills directly to your account and pay them easily from your account.
- Nationwide ATM network - Withdraw money and check your balance from wherever you are.
- Debit Card
- Free Bill Pay
- Interest Bearing Account
- Mobile Banking
- Mobile Check Deposit
- Nationwide ATM Network
- No Monthly Maintenance Fee
| Description | |
|---|---|
| Bank Account Features |
What fees does Varo Savings Account charge?
Varo Savings Account does not charge a monthly maintenance fee. See the fee breakdown section below to view all fees.
Availability
- 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
| Early Account Closure | $0 |
| Monthly Fee | $0 |
| Paper Statement Fee | $0 |
| Returned Deposit Fee (Domestic) | $25 |
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