image-533803c379f21d83c0983012047b44f06a8f5dd1-400x400-png

Varo

Logo

Rating

4.5/5

Learn More

Pros

  • High APY on savings: Varo offers up to 5.00% APY on balances up to $5,000

  • Early direct deposit access: Varo allows customers to receive their paychecks up to two days early with qualified direct deposits

  • Varo Advance: Eligible customers can access up to $500 in cash advances with no interest if repaid within 30 days.

Cons

  • Limited cash deposit options: Cash can only be deposited at Green Dot® network retail outlets, which charge a $5 fee per deposit

  • Stringent requirements for highest APY: Customers must meet specific direct deposit and balance criteria to earn the 5.00% APY

  • No joint accounts: Varo does not offer joint checking or savings accounts

image-533803c379f21d83c0983012047b44f06a8f5dd1-400x400-png

Varo

Logo

Rating

4.5/5
Learn More