Neobanks

Neobank · 🇺🇸 United States

Varo Bank

United States · varobank.com

93.0Sentiment /100 0.0

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

✦ Sentiment OverviewUpdated every month · Aug 19, 2026

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 month
93.0/100 +0.03 vs previous reading
025507510093.025 Jul1 Aug15 Aug

Ratings across platforms

4.8 · 239K · 2
Trustpilot
4.0
5.6K ratings · 74% positive
App Store
4.9
233K ratings · 97% positive
Measured August 17, 2026

Where Varo Bank operates

1 markets
United States

Rating distribution

Trustpilot · App Store
5
92% · 219K
4
5% · 11K
3
2% · 3.7K
2
0% · 1.1K
1
2% · 4.2K

Rating & review volume over time

Trustpilot · 4.0★App Store · 4.9★Review volume · 239K · +0.02%
12345239KJul '26Aug '26Aug '26

Brand sentiment trend

positive sentiment, by platform
Trustpilot · 74%App Store · 97%
99%85%71%Jul '26Aug '26Aug '26

App screenshots

App Store
Varo Bank app screenshot 1Varo Bank app screenshot 2Varo Bank app screenshot 3Varo Bank app screenshot 4Varo Bank app screenshot 5Varo Bank app screenshot 6

In the media

brand coverage
fintech.global

Varo 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.

fintech.global

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...

fintechmagazine.com

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.

www.fintechfutures.com

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.

financialit.net

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 & Facebook

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.

Spotted incorrect data on this page? Let us know.