What is Varo Money?
Varo Money is an app-based digital banking platform that offers checking and savings accounts, as well as other financial services.
How do I sign up for Varo Money?
You can sign up for Varo Money by downloading the app from the App Store or Google Play Store and following the prompts to create an account.
Can I deposit checks with Varo Money?
Yes, you can deposit checks using Varo Money's mobile check deposit feature. This feature is available for both iOS and Android users.
How do I deposit cash into my Varo Money account?
Currently, Varo Money does not offer a way to deposit cash into your account. However, you can use ATMs that accept deposits to add cash to your Varo debit card, then transfer the funds to your Varo Money account.
What is the daily spending limit for Varo Money?
The daily spending limit for Varo Money is $5,000. This includes all transactions, such as purchases, ATM withdrawals, and transfers.
Is there a minimum balance requirement for Varo Money accounts?
No, there is no minimum balance requirement for Varo Money accounts.
How do I transfer money from my Varo Money account to another bank account?
You can transfer money from your Varo Money account to another bank account by linking the external account and initiating a transfer within the Varo Money app.
Are there any fees for using Varo Money?
Varo Money does not charge fees for monthly maintenance, ATM withdrawals, foreign transactions, or overdrafts. However, there may be fees associated with certain services such as expedited bank transfers or international wire transfers.
What should I do if I lose my Varo Money debit card?
If your Varo Money debit card is lost or stolen, you should immediately contact Varo Customer Support to report the card as lost or stolen. You can also disable your card in the app to prevent unauthorized transactions.
Why was my Varo Money debit card declined?
There could be several reasons why your Varo Money debit card was declined, including insufficient funds, incorrect card information, or a freeze on your account. Contact Varo Customer Support for assistance in resolving the issue.
How do I reset my Varo Money account password?
To reset your Varo Money account password, go to the app and select "Forgot Password" on the login screen. You will be prompted to enter your email address and follow the instructions to reset your password.
Can I use my Varo Money debit card internationally?
Yes, you can use your Varo Money debit card internationally. There are no foreign transaction fees, and you can withdraw cash from ATMs that accept Visa.
What should I do if my direct deposit didn't go through?
If your direct deposit didn't go through, you should first check with your employer to ensure the correct bank and routing information was used. If the information is correct, contact Varo Customer Support for assistance.
How long does it typically take for a direct deposit to show in my Varo Money account?
Direct deposits usually take 1-2 business days to show up in your Varo Money account, but it can vary depending on your employer's deposit schedule.
Why was my account frozen?
Accounts may be temporarily frozen for security reasons, such as suspicious activity or unauthorized access. Contact Varo Customer Support for assistance in unfreezing your account.
Can I open a joint Varo Money account?
Currently, Varo Money does not offer joint accounts. Each individual must have their own separate account.
How can I view my Varo Money account statements?
You can view your Varo Money account statements within the app by selecting "Statements" from the menu. You can also request paper statements to be mailed to you for a fee.
What is a Varo Money Shared Account and how does it work?
A Varo Money Shared Account allows two Varo members to share a joint account and make transactions, such as transferring money to each other. Both members must have individual Varo Money accounts to open a Shared Account.
How do I close my Varo Money account?
To close your Varo Money account, contact Varo Customer Support for assistance. Before closing your account, make sure to transfer any remaining funds to another bank account.
What should I do if I encounter a technical issue with Varo Money?
If you encounter a technical issue with Varo Money, try closing the app, clearing your cache, and reopening the app. If the issue persists, contact Varo Customer Support for assistance.
How do I contact Varo Money Customer Support?
You can contact Varo Customer Support by calling 1-800-827-6526, submitting a support request within the app, or sending an email to [email protected].
Can I link my Varo Money account to third-party financial apps like Mint or Venmo?
Yes, you can link your Varo Money account to third-party financial apps that support Varo Money. However, this may require additional authentication steps.
Is Varo Money FDIC insured?
Yes, Varo Money is FDIC insured up to $250,000 per depositor through its partner bank, The Bancorp Bank.
How do I access my Varo Money account if I lose my phone or it gets stolen?
If you lose your phone or it gets stolen, immediately contact Varo Customer Support to report the incident and have your account blocked. You can also access your account through a web browser by logging in at app.varomoney.com.
Can I use Varo Money with a business account?
No, Varo Money is currently only available for personal accounts.
Does Varo Money have physical branches?
No, Varo Money is a digital banking platform and does not have physical branches. All account management and transactions are done through the mobile app.
Can I change my Varo Money account type from personal to business?
Currently, there is no option to change your Varo Money account type from personal to business. You will need to close your personal account and open a new business account, if available.
