Traditional banks seem to take every opportunity they can to squeeze more money out of you. With everything from a monthly service fee to various hidden fees chipping away at your account balance.
Varo was founded to provide a fee-free banking service2. Your eyes aren’t deceiving you, Varo has no monthly service fees, no foreign transaction fees, and no ATM withdrawal fees.
On top of having no fees, Varo lets you make more money on your money in the form of some passive income by earning interest. Their high yield savings account starts at 1.92% Annual Percentage Yield (APY)1 that can move up to 2.80% APY1 based on qualifying activity.
To put this into perspective, that’s 28 times the average savings account, based on a 0.09% reported by the FDIC.* Time to park your money in a better spot where it can grow faster.
The service has a few extra sweet features too:
- Get your paycheck up to 2 days earlier with Direct Deposit4
- No minimum balance requirement
- Over 55,000+ AllPoint® ATMs worldwide to use your Varo Visa® debit card
- Varo will send any paper check to anyone in the U.S. for you on your behalf
- Varo Forecast tracks your spending to manage your cash flow
- “Save Your Change” rounds up your purchases to the nearest dollar and saves the difference to your Savings Account
If you’re sick of being charged banking fees (who isn’t?) and want to make more out of your money, check out Varo. It takes less than 5 minutes to learn more and apply for free.
For more information, check out our in-depth review.
***0.10% national average APY:
FDIC for the week of September 16, 2019- https://www.fdic.gov/regulations/resources/rates/#one