ForexQ.com
ForexQ.com
According to its official website, Varo Bank is an all-digital bank founded in San Francisco in 2015 by Colin Walsh; it launched its app in 2017 in partnership with The Bancorp Bank and says it became the first fintech company in the United States to receive a national bank charter when the OCC granted it a de novo charter in 2020. According to the FDIC record, Varo Bank, N.A. is based in Draper, Utah and its holding company is Varo Money, Inc. The site states that deposits are held directly at Varo rather than at partner banks and are FDIC-insured up to $250,000, and that it charges no monthly, minimum balance or overdraft fees. Products include the Varo Bank Account with a Visa debit card, a high-yield savings account paying up to 3.75% APY on balances up to $5,000, the secured Varo Believe Visa credit card for building credit, Varo Advance cash advances of up to $1,000, the Varo Line of Credit of $600–$2,000, Varo to Anyone transfers, cashback and access to paychecks up to two days early; cash deposits are free at CVS stores and the Allpoint ATM network is used. Accounts are managed in the Varo mobile app. This information is the company's own statement.
User reports found online are classified by topic. The reports are compiled from records on Trustpilot, WikiFX, Şikayetvar and FastBull, and one person's records count once.
No complaint records have been compiled for Varo Bank yet, so no comparison list is shown. Below are institutions operating in the same service area whose licences are verified.
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According to the data, Varo Bank has 1 verified licence (FDIC); there are no classified user reports yet. This page does not express an opinion; licence records come from official registers and reports from sourced records.
Licences verified in official registers: FDIC (United States) – FDIC Cert. 59190.
No classified user reports about Varo Bank yet. Sources: Trustpilot, Şikayetvar, WikiFX, FastBull.
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Licence records are checked against official registers (last verification 11.11.2026). Complaint records are re-scanned every month on Trustpilot, Şikayetvar, WikiFX, FastBull. The institution’s details were last checked on 11.11.2026.
