Varo Checking Account Review 2023: Earn Up To 6% Cashback at Select Merchants

Katie Stiner

Varo’s checking account offers full-service online banking with no monthly fees and no minimum balance requirements. Direct deposits can be paid up to 2 days faster, plus you can benefit from free cash withdrawals at over 55,000 AllPoint ATMs nationwide.  

Overall rating


Summary: Varo is a branchless bank and there is a friendly customer service team available seven days a week to help you answer any questions. 

Varo Checking Account

varo logo


Monthly Fee


Est. APY



Account Opening




Deposits & Withdrawals




Customer Service


Safe & Secure


  • Additional security features 
  • Free cash withdrawals 
  • Multiple ways to deposit and withdraw from your checking account 
  • No hidden fees 
  • No minimum balance requirements 
  • Contactless payments using your debit card


  • No physical branches 
  • Out-of-network ATM fees apply 
  • Spending limits for debit card and ATM withdrawals

Best For

  • Full-service online banking
  • No monthly fees 
  • Get paid up to 2 days faster for direct deposits
  • Fee-free ACH transfers
  • Cashback of up to 6% at select merchants


HQSan Francisco, California, United States
Monthly Fee$0
Min. To Open$0
Min. Deposit For No Fee$0
Paper Statement FeeNot available
Overdraft Fee$0
ATM Fee$0 for an AllPoint ATM (out-of-network ATM fees apply)
RewardsCashback of up to 6% at select merchants
Debit CardVisa
Branch AccessNone
State RestrictionsAvailable in all US States

In depth review on Varo Checking Account 

A Varo checking account is best for customers that are happy to bank online without the need for physical branches and in-person support. There are no hidden fees, so you never have to worry about unexpected deductions from your account. 

While out-of-network ATM fees apply, customers can benefit from free withdrawals at one of over 55,000 AllPoint ATMs across the country. Plus, the debit card comes with contactless payment, so you can tap your card and go to any participating merchant.  

Varo Checking Account is best for  

  • Full-service online banking: You don’t need to go to a branch to access your account. All services are available online using the mobile app.  
  • No monthly fees: There are no monthly service fees to keep your account open and no annual charges.  
  • Get paid up to 2 days faster for direct deposits: Whether you receive a salary payment, stimulus check, or government benefit, you can receive direct deposits up to 2 days faster. Varo does not hold onto your money or keep your money in ‘pending’ status.   
  • Fee-free ACH transfers: You can set up ACH transfers with Varo fee-free. Transfer times can vary between 1 – 4 business days depending on the type of ACH transfer. This is a great feature as many banks charge an average of $25 for transfers in and out of your account.  
  • Cashback up to 6%: Use your Varo debit card at select merchants to earn up to 6% cashback. Every time you reach $5 in cash back, your money will be automatically transferred to your bank account

Varo Checking Account benefits  

  • Additional security features: Varo includes additional security features where you can lock your debit card using your mobile device within seconds.  
  • Free cash withdrawals: You can withdraw cash fee-free at over 55,000 AllPoint ATMs nationwide.  
  • Multiple ways to deposit and withdraw: Unlike other online checking accounts, you can deposit cash into your account at a participating retail store. There are also several ways to withdraw your money, including ATM withdrawals and ACH transfers.  
  • No hidden fees: Varo is fully transparent about the fees it charges. Fees can be viewed on their website.  
  • No minimum balance requirements: There are no minimum balance requirements to keep your Varo checking account open.  
  • Contactless payments using your debit card: Varo’s debit card comes with the option to pay contactless so you can tap, pay, and go. This is only available with merchants that accept contactless as a payment option.  

Varo Checking Account drawbacks  

  • No physical branches: As an online bank, there are no physical branches or in-person support available.  
  • Out-of-network ATM fees apply: There is a $2.50 fee for out-of-network ATM transactions.  
  • Spending limits for debit cards and ATM withdrawals: When you use the Varo checking account, spending limits apply. For your Visa debit card, you can spend up to $2,500 per calendar day on purchases or cash back at the point of sale. There is also a maximum ATM withdrawal limit of $1,000 per calendar day.  

Account opening 


You can get started with a Varo checking account in a few simple steps. You’ll need to apply online and provide the following information: 

  • Email address 
  • US mobile number 
  • Create login details 
  • Social security number 
  • Date of birth 
  • Government-issued ID 

Customers need to be US citizens or permanent residents and over the age of 18 years old. If you have any questions about the application process, you can send an email to [email protected] and a support representative will get back to you.  

Varo does not check your credit history when applying for a checking account, so your application will not affect your credit score.  



There are no monthly fees and no minimum balance requirements. Plus, Varo aims to be fully transparent about all the fees it charges.  

Here are some of the fees that you should consider before opening an account: 

  • Out-of-network ATM fees: $2.50 
  • Cash deposits via third-party money transfer services: $5.95 (charged by the deposit location) 
  • Over-the-counter cash withdrawals: $2.50 per transaction 

There are no fees charged for overdrafts, depositing checks, ACH bank transfers, closing your account, card delivery, or foreign transactions.  



Key features for the checking account include the following: 

  • Highly rated mobile app: Varo has an outstanding rating with 4.5/5 stars on Android and 4.9/5 stars on iOS.  
  • No hidden fees: It is fully transparent about all of its fees and how it makes money like a bank.  
  • No overdraft fees: There are no overdraft or insufficient fund fees.  
  • Customer service: You can get in touch with a friendly Utah-based customer service team 7 days a week.  
  • Visa debit card: Your Varo checking account comes with a Visa debit card which can be used anywhere Visa is accepted. You can also make contactless payments, just tap your card and pay at participating merchants.   
  • Digital debit card: You can get immediate access to a digital debit card while you wait for a physical debit card to arrive. This can be used for online purchases and transactions.  

Deposits and withdrawals 


Customers have several options to deposit and withdraw money into a Varo online checking account. To start, you’ll have access to over 55,000 AllPoint ATMs nationwide where you can withdraw cash. Plus, you can get cashback in stores when you use your Varo Visa debit card.  

ACH transfers out of your account are free and you can also connect to popular apps such as Apple Pay, PayPal, Venmo, and Google Pay for regular purchases. 

To make a deposit, you have the option to visit one of over 90,000+ participating retail stores that use Green Dot Reload. Direct deposits and electronic transfers can be used to receive payroll, government benefits, or stimulus checks into your account. Alternatively, you can deposit a check directly using the mobile app. 

Customer service 


To get in touch with customer service, you can use the chat feature in the Varo app. 

Alternatively, you can send an email to [email protected] and a customer service representative will get back to you or call 1-877-377-8276 Monday – Friday, 8 AM to 9 PM ET, and Saturday – Sunday, 11 AM to 7 PM ET (excluding federal holidays).  

Safe and secure 


Your money is FDIC-insured up to $250,000 which means that your deposits are protected in the event of bank failure.

Is Varo Checking Account right for you? 

The checking account could be a great option for you if you’re looking for a fully serviced mobile app with no hidden fees and no minimum balance requirements. There are no monthly service fees, no overdraft fees, and no in-network ATM withdrawal fees.  

Plus, there are multiple ways to deposit and withdraw cash from your account. You can also receive your direct deposits up to 2 days earlier, helping you get paid faster.  

However, customers that prefer in-person support should consider alternative options when looking to open a checking account. As a branchless bank, customer service support with Varo is by chat, email, or telephone.