Founded
2015
Users
7M+
Total Funding
$1.1B
Employees
330-500
🏢 Company Overview
Headquarters
Salt Lake City, USA
CEO
Gavin Michael
Founder
Colin Walsh
Funding Stage
Series C+
Total Funding
$1.1B
Users
7M+
Pricing
free
Rating
★ 4.6
AML Compliant
PCI DSS
Banking License
Payment License
FDIC Insured
FDIC insured up to $250,000
ℹ️ About Varo
Varo is the first consumer fintech to receive a U.S. national bank charter, offering fee-free digital banking with high-yield savings.
⚡ Key Features
Early direct deposit up to two days
Cash advances from $20 to $500
High-yield savings up to 5.00% APY
Varo Believe secured credit builder card
Personal line of credit up to $2,000
Free P2P transfers via Varo to Anyone
💪 Strengths & Weaknesses
4 Pros
3 Cons
💪
Strengths
What it does well
First fintech with national bank charter
Zero monthly or overdraft fees
FDIC-insured without partner bank
Industry-leading 5.00% savings APY
⚠️
Weaknesses
Areas to improve
U.S.-only with no international transfers
No CDs or money market accounts
No physical branch locations
💬 User Reviews
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🔗 External Resources
🌍 Available In
1 countries
United States
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4.6 ★