App Report for Varo: Save money with a no fee mobile bank account
Play Store Description for United States
Welcome to mobile banking that charges no fees, lets you get paid up to two days early with direct deposit^, offers easy automatic savings tools, and gives you new ways to manage your money. Forget everything you know about banking. This is banking that actually helps. LET’S DITCH THE FEES Your no-fee Varo Bank Account comes with a Varo Visa® Debit Card — which you can safely lock in your mobile banking app — and much more: • No Fee Overdraft up to $50 on debit card purchases (see requirements below) • No fees at 55,000+ Allpoint® ATMs worldwide. Get cash whenever you need it • No foreign transaction fees • No monthly maintenance fee • No ACH transfer fee • No fees to send money • Get paid up to two days early with direct deposit^ • Use Google Pay™ and Samsung Pay™ for quick and easy payments MANAGE YOUR MONEY EASILY Your no-fee¹ Varo Bank Account helps you stay in control of your money. • Track spending and account activity with instant alerts • Send money to and from external accounts • We’ll mail checks for you for free SAVE AND EARN MORE Automatic savings tools let you save and earn money easily. First get a Varo Bank Account, then set up your high-yield Varo Savings Account. • Automatic savings tools let you save money without thinking • No minimum balance requirement to earn interest • Start earning 1.92% APY*, then earn up to 2.80% APY* if you meet these three requirements each calendar month: • Keep a savings balance of $50,000 or less • Make at least five Varo Visa® Debit Card purchases each calendar month • Receive total direct deposits of $1,000 or more each calendar month NO FEE OVERDRAFT REQUIREMENTS To be eligible for No Fee Overdraft to overdraw your Varo Bank Account up to $50 you must meet both of these requirements: • Make at least five Varo Visa® Debit Card purchases in each calendar month, AND • Receive total payroll or government direct deposits of $1,000 or more in the same calendar month. Once you qualify, enroll by turning on No Fee Overdraft in the app. STAY SAFE AND SECURE Keeping your money and data protected is at the top of our list. • Your deposits are FDIC insured to at least $250,000 through The Bancorp Bank; Member FDIC • Your debit card is protected with Visa® Zero Liability‡ • Your data is protected with advanced 256-bit AES-level encryption, access control, secure processes, and audits LEGAL THINGS ¹Varo charges no fees for banking services. While Varo does not charge fees for ATM withdrawals, some ATM operators will. To avoid ATM fees altogether, use an Allpoint® Network ATM. There are more than 55,000 Allpoint locations worldwide. ^Early access to direct deposit funds depends on timing of payer’s submission of deposits. We generally post such deposits on the day they are received which may be up to 2 days earlier than the payer’s scheduled payment date. *Varo Annual Percentage Yields (APYs) are accurate as of December 1, 2019. These rates are variable and may change. No minimum balance required to open account. Balance in Savings must be at least $0.01 to earn interest. ‡You must notify your financial institution immediately of any unauthorized use. For specific restrictions, limitations and other details, please consult your issuer. Bank Account Services provided by The Bancorp Bank; Member FDIC. The Varo Visa Debit Card is issued by The Bancorp Bank pursuant to a license from Visa U.S.A. Inc and may be used everywhere Visa debit cards are accepted. Google Pay is a trademark of Google LLC. Samsung Pay is a trademark or registered trademarks of Samsung Electronics Co. Ltd. Samsung Pay is available on select Samsung devices.
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