Varo Savings Account

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).

• 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.

Are savings accounts from Varo federally insured?

Yes, this account is 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?

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.