What you need to open a Varo account

You can open a Varo account online in about five minutes using a smartphone, tablet, or computer. Varo does not require a minimum deposit to start, and there are no monthly fees. You will need a valid government-issued ID, a Social Security number, proof of your current address, and a way to fund your account—either a debit card, bank transfer, or mobile payment app.

The entire process happens through the Varo mobile app or website. You do not visit a branch or speak to anyone on the phone unless something goes wrong during verification. Varo uses automated identity checks, so approval usually takes minutes, though in some cases the system flags your application for manual review and you may wait up to a few business days.

Key Takeaways

  • You need a valid government ID, Social Security number, and proof of address to open an account; the process takes about five minutes online.
  • Varo has no monthly maintenance fees, no minimum balance requirement, and no overdraft fees on purchases, though overdrafts on ATM withdrawals may incur a fee.
  • Your account is insured by the FDIC up to $250,000, the same protection as traditional banks.
  • You can fund your account immediately using a debit card, bank transfer, or mobile payment app, and start using your Varo debit card within days.

Step-by-step account opening process

Start by downloading the Varo app from the Apple App Store or Google Play, or go to varo.com on a web browser. Tap "Open Account" and enter your email address and create a password. Varo will send a verification code to your email—enter it to proceed.

Next, provide your full name, date of birth, and Social Security number. Varo will ask for your current address and phone number. You will then take a photo of your government-issued ID (driver's license, passport, or state ID card) using your phone's camera. Varo's system reads the ID automatically, so make sure the photo is clear and all text is visible.

After that, Varo asks you to take a selfie to verify you are the person on the ID. The system compares your face to the ID photo. Once verification is complete, you choose your account type—Varo offers a standard checking account and a savings account, or both together. You can open both at the same time. Then you set up how you want to fund your account and confirm your choices. At this point, your account is usually active.

Funding your new account

You can add money to your Varo account in three ways: debit card, bank transfer, or mobile payment app. Using a debit card is the fastest—the money appears in your account within minutes. You will need the card number, expiration date, and CVV (the three-digit security code on the back).

A bank transfer takes one to three business days. You provide your bank's routing number and your account number, and Varo generates a transfer code. Log into your existing bank's website or app, set up Varo as an external account, and send the transfer. This method is free and does not count against any transfer limits your current bank may have.

If you use a mobile payment app like PayPal, Venmo, or Square Cash, you can link your Varo account and transfer money that way. The speed depends on the app—some are instant, others take a business day. Check the app's transfer times before you start.

What happens if verification is delayed

Most people are verified within minutes. If Varo's automated system cannot confirm your identity—because your ID photo is blurry, your face does not match the ID clearly, or your information does not match public records—your application goes to a human reviewer. This usually takes one to three business days.

Varo will email you if manual review is needed. Do not close the app or delete it; Varo may ask you to retake your ID photo or selfie, or to provide additional documents like a utility bill or bank statement to prove your address. Respond as soon as you can, because the review cannot move forward without you.

If your application is denied, Varo will tell you why in an email. Common reasons include a mismatch between your ID and your face, an address that cannot be verified, or a Social Security number that does not match public records. If you believe the denial was a mistake, you can contact Varo's support team through the app or website to ask for reconsideration.

Your Varo debit card and account features

Varo sends you a physical debit card by mail, which usually arrives within five to seven business days. Until it arrives, you can use your account number and routing number to set up direct deposit, or you can use a temporary virtual card number in the Varo app to make online purchases or add the card to a mobile wallet like Apple Pay or Google Pay.

Your Varo checking account comes with no monthly fees, no minimum balance, and no overdraft fees on debit card purchases. If you overdraw your account at an ATM, Varo may charge a fee—check the current fee schedule in the app. You get access to over 55,000 ATMs through the Allpoint network, and Varo reimburses out-of-network ATM fees up to a certain amount per month.

If you open a Varo savings account, it earns interest. The rate changes based on market conditions, so check the app or website for the current rate. There are no fees to hold a savings account, and you can move money between your checking and savings accounts instantly through the app.

FDIC insurance and account security

Varo is a bank chartered by the state of Delaware and is a member of the Federal Deposit Insurance Corporation (FDIC). This means your deposits are insured up to $250,000 per account type. If you have both a checking and savings account at Varo, each is insured separately up to $250,000, so your total coverage is $500,000.

Varo uses encryption to protect your login information and transactions. You can set up a PIN or biometric login (fingerprint or face recognition) on your phone to add another layer of security. If your debit card is lost or stolen, you can freeze or cancel it instantly through the app, and Varo will send you a replacement card at no cost.

If you notice unauthorized transactions on your account, report them to Varo through the app or by calling the number on the back of your debit card. Varo investigates fraud claims and typically refunds unauthorized charges within one to three business days while the investigation is underway.

Frequently Asked Questions

Can I open a Varo account if I do not have a smartphone?

Varo requires a smartphone or tablet to open an account because the app needs to take photos of your ID and face for verification. You can use a tablet or borrow a phone to open the account, but you will need your own phone number to receive verification codes and access your account going forward.

What if my address cannot be verified?

If Varo cannot verify your address through public records, you can send a utility bill, lease agreement, or bank statement showing your name and current address. Upload the document through the app or email it to Varo's support team. This usually resolves the issue within one to three business days.

Can I use Varo if I have had banking problems in the past?

Varo does not check ChexSystems or other banking history databases, so past overdrafts or closed accounts at other banks do not disqualify you. Varo's approval is based on identity verification, not credit history or banking record. However, if you owe money to another bank, that bank may place a hold on your Social Security number, which could prevent Varo from opening your account.

How long does it take to receive my physical debit card?

Varo mails your physical debit card within one business day of account opening, and it usually arrives within five to seven business days depending on your location. You can use a temporary virtual card number in the app immediately while you wait for the physical card to arrive.

What should I do if I forget my password?

Open the Varo app or website and tap "Forgot Password." Varo sends a reset link to your email address. Click the link, create a new password, and log in. If you do not receive the email, check your spam folder or contact Varo's support team through the app.