Varo $100 with $200 Deposit (Needs a Referral Link)
The Varo Bank bonus is a quick paying bonus with no hold requirement on the $200 deposit.
I opened the account via the iOS app and copied the routing and account numbers over to my Discover account. They make it super easy to copy by just letting you tap on the numbers. After the trial deposit verification, I made a transfer via ACH and the bonus hit immediately after the transfer finished.
The debit card design is different. I didn’t really know what the art was on the card until reading the mailer, which explains their logo is a mountain goat. When cropped on the card, I had no idea.
Referral Link
To get the bonus, you need a referral link. You can use mine here: http://refer.varomoney.com/Cs2jH
Final Assessment
The Varo website and iOS app are clean and simple to use. The account comes with a debit card and has a slightly higher than average interest rate for an online savings account. If you do a few qualifying activities, they offer an interest rate that is even higher. I currently don’t see a long-term advantage to using the account, so I may not leave the account open much longer.
Deposits with Varo are held by The Bancorp Bank, Member FDIC, and are insured up to $250,000.