Neobanks

Varo Bank is the first US consumer fintech to receive a national bank charter, offering fee-free accounts and credit-building tools.

✦ Sentiment OverviewUpdated weekly · Jul 17, 2026

Varo maintains solid positive standing (73/100) despite a week-over-week decline of 7.2 points, driven by recent funding success and product capability announcements. Customer perception tracks positively around lending expansion and platform features, while headline sentiment remains neutral—focused on sector-wide growth rather than company-specific momentum. The gap suggests operational strength isn't yet translating into differentiated media narrative or analyst interest.

Sentiment index

our score · updated weekly
78.3/100
+4.89 vs last week
Reviews · 307,000 ratings81
News50
Mentions

Where Varo Bank operates

1 markets
United States

In the media

brand coverage
fintech.global

US FinTech investment grew 16% YoY in Q1 driven by increase in deals over $100m

fintech.global · 1mo ago

Key US FinTech investment stats in Q1 2026: US FinTech investments grew 16% YoY in Q1; Funding growth was driven by a 4% increase of deals...

fintechmagazine.com

Top 10: Fastest Growing Neobanks

fintechmagazine.com · 3mo ago

In this Top 10, FinTech Magazine explores the fastest growing neobanks, featuring giants like Nubank, Revolut and Monzo.

www.fintechfutures.com

February 2026: Top five fintech funding rounds of the month

www.fintechfutures.com · 5mo ago

FinTech Futures takes a look back at five of the top funding rounds to take place over February.

www.prnewswire.com

Varo Live with Industry's Leading Account Activation Solution: Pinwheel Switch Kit

www.prnewswire.com · 6mo ago

PRNewswire/ -- Pinwheel, the fintech helping banks win primacy with frictionless account activation and engagement experiences,...

finovate.com

Varo Raises $123.9 Million to Scale its Lending and Banking Platform

finovate.com · 6mo ago

Varo raised $123.9 million in a Series G round led by Warburg Pincus and Coliseum Capital. The bank will use the investment to scale its...

Latest from social

LinkedIn & Facebook

What people are saying

Sample
Elena FischerFacebook· 1d ago

Mixed feelings on Varo Bank lately — love the product, but the latest update changed a flow I relied on.

Nora Lindqvist@noralindqvisX· 6d ago

Great thread on how Varo Bank is rethinking cross-border payments. Worth a read for anyone in fintech.

Elena Fischer@elenafischerX· 2w ago

Been using Varo Bank for 6 months now — the app just works. Transfers land instantly and support actually replies.

Chris Whitfield@chriswhitfieX· 2w ago

Great thread on how Varo Bank is rethinking cross-border payments. Worth a read for anyone in fintech.

Daniel KimFacebook· 2w ago

Been using Varo Bank for 6 months now — the app just works. Transfers land instantly and support actually replies.

Company

OwnershipPrivate (unicorn)
LicensesOCC (National Bank Charter — first US neobank to receive one)
Available in1 market

About Varo Bank

Varo Bank was founded in 2015 and became the first US consumer fintech to receive a national bank charter from the OCC in 2020, meaning it doesn't rely on partner banks for FDIC insurance. It offers no-fee checking, high-yield savings up to 5% APY for qualifying customers, and Varo Advance — small cash advances.

Frequently asked questions

Is Varo a real bank?

Yes. Varo Bank holds a national bank charter from the OCC and provides its own FDIC insurance (up to $250,000) — it does not rely on partner banks, unlike most US neobanks.

What is Varo's savings interest rate?

Varo offers up to 5.00% APY on savings for customers who meet monthly qualifying conditions such as receiving direct deposits and maintaining a positive balance.

Does Varo offer cash advances?

Yes. Varo Advance lets qualifying customers borrow $20–$500 between paychecks with a small flat fee and no interest.

Is Varo available outside the US?

No. Varo Bank is only available to US residents with a valid Social Security Number.

Does Varo have a credit card?

Varo offers the Varo Believe secured credit card, designed to help customers build credit with no annual fee and no minimum deposit requirement above $0.

Ratings & sentiment aggregated from Trustpilot, Google Play and App Store — anonymised store metrics only, no individual reviews.