Varo offers a fee-free mobile banking solution with all-in-one access through the Varo App to a free checking account, free debit card, 1.5% APY free savings account and even personal loans.
Varo allows you to manage all of your basic financial needs within a single platform and replace your traditional bank account.
Varo is currently sending out targeted $100 promotional flyers that may allow anyone (targeted or non-targeted) to earn a $100 bonus when you open a Varo Bank Account with at least 1 direct deposit of $500 or more.
There is also a Varo Referral Program $50 Bonus available for both new and current customers to share cash bonuses with your friends and family when they open a new Varo Bank Account with 1 direct deposit of $250 or more within 45 days of account opening.
New Varo $50 Referral Link Available: If you would like to get the $50 bonus, just visit this Varo $50 Referral Link to open your new Varo Bank Account, and you’ll get a $50 bonus when you receive 1 direct deposit of $250 or more within 45 days of account opening.
The Varo App is available for iOS devices only at this time, but you can register for early access to their Android app that is coming soon.
Varo Bank Account Features
- Varo Bank Account – Fee-Free Mobile Checking Account with Free Debit Card.
- Varo Visa Debit Card – You Can Make Purchases Anywhere Visa is Accepted, and Your Varo Card is Secured through the Visa Zero Liability Policy.
- Varo Savings Account – 1.5% APY Savings Account with No Monthly Fees.
- Varo Personal Loans – Apply for a Personal Loan with Just a Few Steps in the App.
- Fee-Free Banking – You Do Not Pay Any Banking Fees with Varo.
- All-In-One Banking Solution – View All of Your Accounts in a Single Location for Better Financial Management.
- Varo Forecast – View Your Current Financial Status at Any Time to See if You Have Enough Funds to Cover Bills and Other Needs.
- Budgeting – You Can Set Financial Goals and Track Your Spending.
- Recommendations – Varo Will Give You Personal Recommendations to Help You Save More Money.
- Early Direct Deposit – Get Paid up to 2 Days Early.
- Bank Transfers – Easily Move Your Money In and Out of Varo.
- Mobile Check Deposit – Deposit Checks Quickly from Your Phone.
- Easy Money Transfers – Link Square, PayPal, and the Cash App to Transfer Funds.
- Deposit Cash – You Can Deposit Cash into Your Varo Bank Account at Participating Retail Locations Nationwide (merchant fees apply).
- Free ATMs – You Can Access Fee-Free ATMs at 55,000+ AllPoint Locations.
- Apple Pay – You Can Use Varo with Apple Pay or Apple Pay Cash.
- Transaction Alerts – Get Notifications about Your Varo Account Activity.
- Direct Debit – You Can Pay Bills Online with Your Varo Account Information.
- Send Paper Checks – Varo Will Mail Any Check for You.
- Bill Pay Calendar – Stay on Top of Your Bill Due Dates.
- Security – Your Varo Account Deposits are Insured for at least $250,000 through The Bancorp Bank, Members FDIC.
- Varo Customer Support – Customer Support Agents are Available to Answer Your Calls from Monday through Friday, 6:00 AM to 9:00 PM, and from Saturday through Sunday, 8:00 AM to 6:00 PM PST
To open a Varo Bank Account, you simply download the Varo App from VaroMoney.com and sign up in a few simple steps.
Varo Bank Account $100 Sign-Up Bonus – Possibly Targeted
You can earn a $100 bonus when you sign up for a new Varo Bank Account and receive at least 1 direct deposit of $500 or more to your new account.
Possibly Targeted: Please note that this $100 Varo Bank Account bonus offer was sent to me via a promotional flyer that was “personally” curated for me by a third-party marketing firm (not from Varo directly) and included various retail discounts and other financial offers, and the fine print of the offer does indicate that the $100 bonus is only available to the recipient of the direct mail. However, this basically came to me through spam mail from me being on a random mailing list, and therefore, I do believe the offer should be openly available to anyone who follows the below instructions, although I cannot guarantee this is true. If you are concerned about not qualifying due to not being specifically targeted, Varo is also currently offering a customer referral bonus program that allows both new and current account holders to earn a cash reward, so you can try to sign up through a referral to qualify for a $100 bonus as well. If anybody would like to receive a digital copy of the Varo promotional flyer that I received, please feel free to request one at firstname.lastname@example.org
How To Qualify
1. Text VARO to 38470 to apply for a Varo Bank Account.
2. You’ll receive a return text message that contains a Varo promotional link and mentions the $100 bonus offer.
3. Click on the Varo promotional link in that text message and follow the prompts to download the Varo App.
4. After you download the Varo App, you must sign up and create your Varo Bank Account.
5. You’ll then need to set up a direct deposit to your new Varo Bank Account.
6. You must receive at least 1 direct deposit of $500 or more between August 1, 2018, and September 15, 2018.
7. Varo will deposit the $100 bonus into your account by September 30, 2018.
- The $100 bonus is considered interest and will be reported on IRS form 1099-INT.
- The qualifying direct deposit must be an ACH deposit of your paycheck, pension, or government benefits (such as Social Security) from your employer or the government.
- Bank ACH transfers, verification or trial deposits from financial institutions, transfers from PayPal or Venmo, and cash loads or deposits do not qualify as a direct deposit.
- The name of the direct deposit recipient must be the same name as the account holder.
- Your account must be open and in good standing at the time of the bonus payout to qualify.
- This offer is only available to the recipient of the direct mail (I personally don’t believe the offer is being tracked in this fashion, since I received the direct mail in a bundle of promotional offers from a third-party marketing company and not from Varo directly, so I find it hard to believe that the list of direct mail recipients is being coordinated with Varo, but Varo probably indicates this on the flyer in order to allow them to block the promotion from becoming openly available and having “too many” new accounts opened under the promotion – it basically may give them an excuse to terminate the offer if tons of people apply, so apply at your own risk).
Varo Referral Program $50 Bonuses for Both Customers
Updated 8/24/2018: If you are new to Varo, just visit this $50 Varo Referral Link to earn a $50 cash reward when you open a Varo Bank Account and receive 1 direct deposit of $250 or more within 45 days of account opening.
If you are a current Varo Bank Account member, you may participate in the Varo Referral Program to earn up to $500 per year when you refer your friends to join Varo, and your friends will also receive a special bonus when they open a new Varo Bank Account using your referral.
This Varo referral promotion is only available via an email notification that is being sent directly to current Varo Bank Account holders, so the only way you can participate and refer your friends is if you receive the email directly, as there is no way to access the referral program within the Varo App at this time.
If you receive the Varo referral program email, you will get access to your own unique referral link that allows you to share a special $50 bonus with your friends when they open a new Varo Bank Account, and you’ll receive a $50 bonus for each new customer that you refer who meets the qualifications.
The referee must register their email address using the referring Varo member’s unique link by October 15, 2018, open a Varo Bank Account using the same email address, and then have 1 qualifying direct deposit of $250 or more into the account within 45 days of opening.
A qualifying direct deposit must be at least $250 (2 or more that add up to $250 do not qualify) of the referee’s payroll, pension, or government benefits (such as Social Security) from their employer or the government.
Transfers from outside accounts or peer-to-peer payments (such as PayPal or Square) do not qualify.
The deposit must post to the Varo Bank Account within 45 days of opening.
Bonuses will be deposited into both the Varo member and referee’s Varo Bank Accounts within 21 days of the first qualifying direct deposit posting to the referee’s Varo Bank Account.
Varo members may qualify for up a maximum bonus total of $500 per calendar year.
At this time, only customers who have an open account are eligible to participate in the program, and you will need to receive an email notification about the referral program in order to participate.
The referee must be a new Varo member with no prior Varo accounts.
If you are a current Varo member who has received access to the Varo Referral Program, please feel free to share your experiences with using your Varo Bank Account along with your referral links in the comments below this article.
If you’re looking for a fee-free mobile banking solution to control all of your basic financial needs in a single location, take advantage of the Varo App to get an all-in-one solution for your banking needs.
You may also be interested in a Simple Bank Account for an easy online banking solution.