Company Information

Get to know Varo Money

Varo is the first consumer fintech in U.S. history to be granted a national bank charter by the Office of the Comptroller of the Currency (OCC). Launched in 2017, Varo began as a neobank app before officially becoming Varo Bank, N.A. in 2020. The company's mission is to improve the financial well-being of its customers by providing accessible, premium banking services without the high fees typically associated with traditional banks. Varo offers core banking products, including checking and high-yield savings accounts, a credit-builder card, and cash advance services, all delivered through a mobile-first platform.

Industry

Financial BankingPRIMARY
Financial Other Service
Technology Software Development

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Varo Money

United States

Founded in

01 Nov 2015 (10 Years)

Founded

Last online: No recent activity

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OVERALL SCORE

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Regulated

Recommended

(77 reviews)

Cyprus

2009

(17 years)

Security Information :

CySEC

FSCA

DFSA

Security Information

Warning

This company is currently Unproved.

Please be cautious of the potential risks!

License

A Grade License

Issued by globally renowned regulators, these licenses ensure the highest trader protection through strict compliance, fund segregation, insurance, and regular audits. Dispute resolution and adherence to AML/CTF standards further enhance security.

B Grade License

Granted by respected regional regulators, these licenses offer robust safety measures such as fund segregation, financial reporting, and compensation schemes. Though slightly less strict than Tier 1, they provide dependable regional protection.

C Grade License

Issued by regulators in emerging markets, these licenses offer basic protections such as minimum capital requirements and AML policies. Oversight is less stringent, so traders should exercise caution and verify safety measures.

D Grade License

From jurisdictions with minimal oversight, these licenses often lack key protections like fund segregation and insurance. While attractive for operational flexibility, they pose higher risks to traders.

TrustFinance is not a licensed financial advisor and is not affiliated with any financial institutions in your region. We encourage you to do your own research before making any investment decisions.