Varo Bank Fees Overview
Last updated
Was this helpful?
Last updated
Was this helpful?
has a transparent fee structure with no monthly maintenance fees for its primary account services.
Cost: Free.
There are no fees for opening a account. You can sign up for a checking or savings account through the or .
Cost: Free for accounts.
Varo does not charge monthly fees for its , , or accounts.
Certain fees are associated with using ’s debit card, ATMs, and other transactional services.
Varo ATM Network (fee-free)
Cost: Free at 55,000+ Allpoint ATMs.
offers fee-free ATM withdrawals at over 55,000 ATMs worldwide through the Allpoint network. These ATMs are commonly found at major retail locations and convenience stores.
Out-of-Network ATM Withdrawals
Cost: $2.50 per transaction.
If you use an out-of-network ATM, charges a fee of $2.50 per withdrawal. However, the ATM operator may also charge its own fee, which is separate from ’s fee.
International ATM Withdrawals
Cost: $2.50 per transaction + international ATM operator fees.
charges $2.50 for international ATM withdrawals, plus any additional fees imposed by the ATM operator.
Varo Cash Deposit Network (fee-free)
Cost: Free at participating locations in the GreenDot network.
You can deposit cash for free at over 90,000 participating retail locations in the GreenDot network, including major stores like Walmart.
Non-network Cash Deposits
Cost: Varies by location.
If you need to deposit cash at non-participating locations, the fees may vary. These locations may charge up to $5.00 per deposit.
Debit Card Purchases
Cost: Free.
Foreign Transaction Fees
Cost: 3% of the transaction amount.
Varo charges a 3% fee for purchases made outside of the U.S. in a foreign currency or through international merchants.
Overdraft Protection (No Fee)
Cost: Free (for qualifying customers).
Insufficient Funds (Overdraft Fee for Non-qualifying Accounts)
Cost: Free.
Wire transfers are a service available to Varo customers, both for incoming and outgoing transfers.
Incoming Domestic Wire Transfer
Cost: Free.
Outgoing Domestic Wire Transfer
Cost: $25 per transfer.
Outgoing domestic wire transfers incur a fee of $25 per transfer.
Incoming International Wire Transfer
Cost: Free.
Outgoing International Wire Transfer
Cost: $45 per transfer.
Monthly Maintenance Fee
Cost: Free.
ATM Withdrawal Fee
Cost: $2.50 per withdrawal at out-of-network ATMs (same as checking account).
Interest Rates and Fees
Cost: Free.
Varo Believe Credit Builder Account
Cost: Free.
Security Deposit Fees
Cost: Free.
Stop Payment Request
Cost: $15 per request.
Paper Statement Fee
Cost: $2 per statement.
Fee Type
Estimated Cost
Account Opening Fee
Free
Monthly Maintenance Fee
Free
ATM Withdrawal Fee (in-network)
Free
ATM Withdrawal Fee (out-of-network)
$2.50 per transaction
Cash Deposit Fee (in-network)
Free
Cash Deposit Fee (out-of-network)
Varies (up to $5 per deposit)
Debit Card Purchase Fee
Free
Foreign Transaction Fee
3% of the transaction amount
ACH Transfer Fee
Free
Overdraft Fee (SpotMe customers)
Free
Insufficient Funds Fee
Free (transactions declined)
Domestic Wire Transfer (incoming)
Free
Domestic Wire Transfer (outgoing)
$25 per transfer
International Wire Transfer (incoming)
Free
International Wire Transfer (outgoing)
$45 per transfer
Savings Account Monthly Fee
Free
Credit Builder Account Monthly Fee
Free
Stop Payment Fee
$15 per request
Paper Statement Fee
$2 per statement
Out-of-Network ATM Withdrawal Fee
$2.50 per transaction
Purchases made with your are free of charge and processed like any standard debit card transaction.
offers a no-fee overdraft service for qualifying customers, but there are fees if you do not qualify for this service.
offers an overdraft protection service called "SpotMe," which allows you to make purchases up to $200 beyond your account balance, without incurring any fees. To qualify, you need to receive direct deposits of $1,000 or more per month.
does not charge overdraft fees if you do not qualify for SpotMe. However, any transactions that would result in overdrawing your account will be declined.
does not charge a fee for receiving domestic wire transfers.
does not charge fees for incoming international wire transfers.
charges $45 for sending an outgoing international wire transfer.
The account is designed to be a high-yield savings account. It is free to use but has certain terms for maximizing benefits.
There is no monthly maintenance fee for the account.
’s savings account offers a competitive annual percentage yield (APY) on balances, which varies based on account balance and activity.
The account helps customers build their credit. This account is designed for people who are looking to improve their credit scores.
There are no monthly fees for using the account. This account is available to customers who want to build or improve their credit score.
Cost: None for .
allows you to set up the credit builder account without the need for a deposit, which distinguishes it from many other credit-building products that require a deposit.
does not charge any fees for closing your account.
allows customers to close their accounts at any time without incurring a fee.
While has a low-fee structure, there are a few additional potential fees associated with certain account actions.
If you need to stop a payment, such as a check or a transaction, charges $15 for each stop payment request.
offers paperless statements for free, but if you request paper statements, there is a fee of $2 per statement.
