Varo Bank is the first US consumer fintech to receive a national bank charter, offering fee-free accounts and credit-building tools.
Varo commands strong customer approval at 4.8/5 across 239,054 ratings, though sentiment has softened recently. The NeoBase index holds steady at 93.0/100, while headlines lean positive on growth funding and product positioning around cash accessibility. The divergence suggests media confidence in the bank's trajectory outpaces a slight cooling in user satisfaction.
Sentiment index
our score · updated every monthRatings across platforms
★ 4.8 · 239K · 2Where Varo Bank operates
1 marketsRating distribution
Trustpilot · App StoreRating & review volume over time
Brand sentiment trend
positive sentiment, by platformApp screenshots
App StoreIn the media
brand coverageVaro takes on the cash problem facing digital banks
fintech.global · 4w ago
Varo makes cash deposits free at 2000 Kroger stores. Read how the digital bank is tackling cash access for customers.
US FinTech investment grew 16% YoY in Q1 driven by increase in deals over $100m
fintech.global · 3mo 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...
Top 10: Fastest Growing Neobanks
fintechmagazine.com · 5mo ago
In this Top 10, FinTech Magazine explores the fastest growing neobanks, featuring giants like Nubank, Revolut and Monzo.
February 2026: Top five fintech funding rounds of the month
www.fintechfutures.com · 6mo ago
FinTech Futures takes a look back at five of the top funding rounds to take place over February.
Varo Bank Announces Growth Investment Led by Coliseum Capital Management
financialit.net · 7mo ago
Varo Bank, the first all-digital nationally chartered bank in the U.S., today announced that it raised a growth investment of $123.9 million...
Latest from social
LinkedIn & FacebookWhat people are saying
mentions on X, Reddit & FacebookHow tf am I gonna pay rent when yall keep holding money off my card @VaroBank
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.
Compare Varo Bank with similar neobanks
Ratings & sentiment aggregated from Trustpilot, Google Play and App Store - anonymised store metrics only, no individual reviews.
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