I can’t lie for a digital bank Varo is the best banking service I’ve ever had. There are a lot of features that Varo has that I wouldn’t be able to bank without but before we get into all the great things about Varo Bank lets talk about Varo Bank the Company first.
Varo was founded 2015 in San Francisco as a finch company. 5 years later and Varo has become an official chartered bank.
The beautiful thing about Varo is that they don’t charge many fees.
They have no fees for
- Zero dollar balance
- Overdrafts
- Monthly maintenance
- Transactions at 55K+ Allpoint ATMs (at everyday places like Target, Walgreens, etc.)
- Depositing checks using the Varo app
- ACH bank transfers
- Varo Bank to Varo Bank transfers
- Closing your account
- Card replacement (for regular USPS delivery)
- Foreign transactions
They do charge fees for
- Out-of-network (non-Allpoint) ATM withdrawals**: $2.50 per transaction
- Cash deposits via third party money transfer services***: The deposit location may charge up to $5.95 for this service
- Over-the-counter cash withdrawals: $2.50 per transaction
They are very much a bank for the people. No fees for Varo Savings account at all. They have what they call the Varo Advance they do have a few fees for this though.
- Varo Advance: Fees are charged per Advance and currently are****:
$20 Advance: $0 fee
$50 Advance: $3 fee
$75 Advance: $4 fee
$100 Advance: $5 fee
So if you need a quick $100 to hold you over between pay days then Varo got you. If your interested in Varo and think It might be a great fit for your banking needs check out the link here.
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Thanks for checking out the blog, its the man, the myth The Wealthbuilder himself DeVaughn Put in Work Burke signing off for Varo Bank Review The Good The Bad The Ugly.
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