Varo’s online checking account has no monthly fee or minimum deposit or balance requirements, making it accessible to nearly everyone.
New account holders are automatically sent a Visa debit card, which can be used to withdraw money fee-free at tens of thousands of ATMs in the Allpoint network. Varo’s early direct deposit feature, account holders have access to their funds up to two days early.
Varo customers also have access to Varo Advance, a feature that gives customers up to $100 in cash directly in the bank’s app when they meet certain qualifications. There’s one fee depending on the amount of the advance. Customers have to pay back the amount within 30 days.
Customers can deposit cash into their checking accounts at retail store checkouts using Green Dot Reload. Varo won’t charge a fee, but the store may charge a fee up to $5.95. Customers also can purchase a Green Dot MoneyPak at those stores.
There are no minimum deposit or balance requirements and no monthly fee.
Customers have access to over 55,000 Allpoint ATMs with a Visa debit card, which can also be used for purchases and other transactions.
The account comes with helpful financial features, including early direct deposits and advance cash.