Varo Bank Doubles Varo Advance to $500
SAN FRANCISCO, Nov. 27, 2023 /PRNewswire/ -- Varo Bank, N.A., the first nationally-chartered consumer techbank in the U.S., today announced an increase to $500 for its Varo Advance1 cash limit for qualifying customers to help mitigate financial stress over the holidays. This increase doubles the previous maximum limit of $250 and is a five times increase from the $100 offered at the product's launch in late 2020. Varo Advance is one of the lowest-cost short-term loans available among finance apps.2
- Varo Advance is one of the lowest-cost short-term loans available among finance apps.2
Varo Advance is the latest example of how Varo Bank has quickly responded to customers' financial challenges in 2023. - Varo Advance seamlessly integrates into the Varo mobile app and only takes a few taps to apply, with no impact on credit scores.
- "We have increased the maximum limit for Varo Advance because our customers living paycheck-to-paycheck have asked for a way to pay for increased living costs without going into costly debt," said Colin Walsh, the founder and CEO of Varo Bank.
- Varo Advance is the latest example of how Varo Bank has quickly responded to customers' financial challenges in 2023.