Varo

Varo Bank Doubles Varo Advance to $500

Retrieved on: 
Monday, November 27, 2023

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

Key Points: 
  • 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.

Varo Bank Introduces "Varo to Anyone"

Retrieved on: 
Thursday, September 21, 2023

SAN FRANCISCO, Sept. 21, 2023 /PRNewswire/ -- Varo Bank, N.A., the first nationally chartered consumer techbank in the U.S., today announced the official launch of "Varo to Anyone," a free, instant payments service with money sent, received, and stored from Varo Bank accounts insured up to $250,000. Varo to Anyone transfers can be sent to anyone with a U.S. debit card, no matter where they bank.

Key Points: 
  • , the first nationally chartered consumer techbank in the U.S., today announced the official launch of "Varo to Anyone," a free, instant payments service with money sent, received, and stored from Varo Bank accounts insured up to $250,000.
  • Varo to Anyone transfers can be sent to anyone with a U.S. debit card, no matter where they bank.
  • Varo to Anyone's three-month development cycle and no-fee basis truly demonstrates Varo's bank charter ... in action.
  • We are providing the ultimate instant money flexibility, with no fee structure and the security only a bank provides," said Colin Walsh, CEO of Varo Bank.

Varo Bank Names Sachin Shetty Chief Technology Officer, Appoints Lisa Violet Head of Strategic Partnerships

Retrieved on: 
Thursday, March 30, 2023

, the first all-digital, nationally chartered consumer techbank in the U.S., today announced the appointment of Sachin Shetty as Chief Technology Officer and Lisa Violet as Senior Vice President, Strategic Partnerships.

Key Points: 
  • , the first all-digital, nationally chartered consumer techbank in the U.S., today announced the appointment of Sachin Shetty as Chief Technology Officer and Lisa Violet as Senior Vice President, Strategic Partnerships.
  • Shetty, a seasoned technology innovator, joins the bank to take Varo's techstack to the next level, while developing technology to support greater scale and innovation.
  • Former Varo Bank Chief Auditor, Lisa Violet, has been appointed to the newly-established role to spearhead the bank's strategic partnerships, driving incremental revenue and accelerating growth.
  • Since joining the company in 2019, Lisa Violet has played a critical role at Varo Bank.

Pinwheel Launches Direct Deposit 2.0 to Offer the Industry's Highest Coverage Rate, Allowing 100% of the United States Workforce to Update their Deposit Settings Easily

Retrieved on: 
Monday, March 20, 2023

NEW YORK, March 20, 2023 /PRNewswire/ -- Today, Pinwheel, the market-leading provider of income and employment data engineered for next-generation fintech innovation, announced the launch of Deposit Switch 2.0 (DDS 2.0). DDS 2.0 offers the highest coverage rate in the industry so that up to 100% of US workers who are paid via direct deposit can have an easy, digital way to update their direct deposit settings.

Key Points: 
  • DDS 2.0 offers the highest coverage rate in the industry so that up to 100% of US workers who are paid via direct deposit can have an easy, digital way to update their direct deposit settings.
  • Banks or fintechs can leverage Pinwheel's direct deposit coverage to grow direct deposits and customer lifetime value.
  • "Automated direct deposit switching has been a core offering for Pinwheel since its inception," said Robert Reynolds, Head of Product, Pinwheel.
  • Banks can now automate the direct deposit process for anyone receiving income via direct deposit in the United States.

Varo Bank Now Offers Zelle®

Retrieved on: 
Tuesday, November 15, 2022

SAN FRANCISCO, Nov. 15, 2022 /PRNewswire/ -- Today, Varo Bank — the first all-digital, nationally-chartered U.S. consumer built from the ground up techbank — announced that it will offer Zelle® in its mobile banking app. Zelle® is a safe way to send and receive money with friends, family, and small businesses you trust.

Key Points: 
  • Varo is the first techbank to be able to offer Zelle in its app without the need to partner with a bank, solidifying Varo as a technology leader in digital banking.
  • "Adding Zelle to our product lineup is our bank charter in action", said Colin Walsh, Founder and CEO of Varo Bank.
  • Other offerings include Varo Believe5, a secured card designed to help build credit, and Varo Savings Account, which provides oneof the highest Annual Percentage Yields (APYs) in the U.S.6
    To learn more about Zelle at Varo Bank, visit: varomoney.com/zelle .
  • Varo customers that have had any Zelle transaction in their Varo Bank Account prior to November 3, 2022 are grandfathered and will be eligible to enroll in Zelle at Varo.

Kard Raises $23m Series A to Power Card Rewards Following a Year of Significant Growth

Retrieved on: 
Thursday, April 28, 2022

Kard is the first rewards platform that specifically services the entire spectrum of card issuers, including traditional banks, neobanks, banking-as-a-service providers, and the broader fintech market anyone building a unique card experience.

Key Points: 
  • Kard is the first rewards platform that specifically services the entire spectrum of card issuers, including traditional banks, neobanks, banking-as-a-service providers, and the broader fintech market anyone building a unique card experience.
  • Marqeta partnered with Kard to offer its card issuing customers seamless integration of the Kard platform into their offering.
  • Issuers see an increase in total customer spend by as much as 37% after rolling out a Kard rewards program.
  • "Kard recognizes the importance of a competitive rewards program to issuers, merchants, and cardholders, and we're excited to partner with the Kard team."

Varo® Bank Expands Perks Cashback Program Just in Time to Stock Up for Spring

Retrieved on: 
Thursday, March 17, 2022

SAN FRANCISCO, March 17, 2022 /PRNewswire/ --

Key Points: 
  • Who: Varo Bank is expanding Perks, its cashback program, to include a host of new merchants and premium cashback deals.
  • The program gives back real money, and it's easy to use since customers opt-in once and Varo does the rest!
  • Customers can use their Varo Bank Visa Debit Card or Varo Believe Card to make purchases and receive cashback.
  • Rewards earned for in app shopping are automatically deposited into a customer's Varo bank account once $5 in cashback is earned.

Varo Bank Appoints Industry Veteran to Lead Public Policy

Retrieved on: 
Thursday, February 24, 2022

SAN FRANCISCO, Feb. 24, 2022 /PRNewswire/ -- Varo Bank , N.A., the first all-digital nationally chartered bank in the US, today announced the appointment of Corey Carlisle to Head of Public Policy.

Key Points: 
  • SAN FRANCISCO, Feb. 24, 2022 /PRNewswire/ -- Varo Bank , N.A., the first all-digital nationally chartered bank in the US, today announced the appointment of Corey Carlisle to Head of Public Policy.
  • In his new role, Mr. Carlisle will champion banking innovation impacting financial inclusion with industry regulators and other important stakeholders.
  • Varo Bank offers customers premium bank accounts that have no minimum balance requirement or monthly account fee, high-interest savings accounts, and tech-first features to help people save and manage their money effortlessly.
  • For more information visit www.varomoney.com , like Varo Bank on Facebook, and follow us on Instagram and Twitter @varobank .

NOLA Native Wayne Stewart Wins Varo® Bank's Customer Hero Award

Retrieved on: 
Tuesday, December 21, 2021

SAN FRANCISCO, Dec. 21, 2021 /PRNewswire/ -- Varo Bank , N.A., the first all-digital nationally chartered bank in the US, today announced Wayne Stewart has received the Varo Hero Award.

Key Points: 
  • SAN FRANCISCO, Dec. 21, 2021 /PRNewswire/ -- Varo Bank , N.A., the first all-digital nationally chartered bank in the US, today announced Wayne Stewart has received the Varo Hero Award.
  • The Varo Hero Award exists to amplify the stories of Varo customers who embody Varo's vision for progress they are entrepreneurial, building toward their financial future and deeply engaged in their community.
  • Wayne is a New Orleans native and worked hard to put himself through culinary school.
  • Varo will announce a Varo Hero Award recipient each month stay tuned for future award winners!

CEO and Founder of Slutty Vegan ATL Pinky Cole Partners with Varo® Bank to Break Down Financial Barriers and Support Wealth Building for Atlantans

Retrieved on: 
Monday, December 13, 2021

Pinky broke boundaries to achieve success on her own terms when she launched Slutty Vegan ATL, the plant-based Atlanta restaurant phenomenon with a national following.

Key Points: 
  • Pinky broke boundaries to achieve success on her own terms when she launched Slutty Vegan ATL, the plant-based Atlanta restaurant phenomenon with a national following.
  • Together, they aim to help Atlantans create a brighter future and gain financial ground during this holiday season.
  • Im so thrilled to partner with Varo as their mission truly resonates with what I represent and believe in.
  • Varo x Pinky Cole Giveback Sweepstakes: In January, Varo and Pinky will launch a community-based sweepstakes to provide opportunities for greater financial and professional empowerment.