SwagBucks is currently offering a $120 Varo money sign up bonus promotion when you open a new Varo account using the Swagbucks affiliate link. Everything you need to know about how to qualify for this Varo bonus, I’ve outlined for you below. It comes from my personal experience of claiming this exact reward through the SwagBucks website.
$120 Varo Money Sign Up Bonus with SwagBucks
Recently, SwagBucks increased the Varo bank account bonus offer from $30 to $120, making this banking bonus promotion too good to pass up. The requirements to earn the bonus are fairly simple, and best of all you won’t be required to do a direct deposit to qualify for the reward.
Earn 12,000 SwagBuck (SB) points, which equals $120 in value, when you open a Varo bank account using the SwagBucks affiliate link.
How to Qualify
- Sign into your SwagBucks account (use this referral link for an extra $10 bonus reward if you're new to SwagBucks)
- Next, go directly to the $120 Varo Bonus Offer here and open a Varo bank account. (You must create a Varo Bank account through the SwagBucks affiliate link in order to receive the SB points)
- Varo must approve your application. (most everyone is accepted!)
- Link a separate bank account to your newly opened Varo account and deposit $25 or more.
- Must use the same email address associated with your SwagBucks account.
- Must keep Varo account open until SwagBucks verifies the completion of this offer.
- This offer is only valid to new Varo account users. If you've previously installed the Varo Bank App you are ineligible for this promotion.
- Offer may only be redeemed once (1) per user.
Your reward will be issued within 45 days to your SwagBucks account – just be aware that it won’t show as ‘pending’ during this time.
As a precaution, I would recommend placing a reminder on your calendar to check back on this. If for some reason you haven’t received your 12,000 SwagBuck points in the allotted time frame, then you’ll want to send an email to customer service inquiring about it. You'll have a 14 day grace period to submit a ticket to customer service after the 45 day credit time passes.
I joined SwagBucks just for the purposes of taking part in this special bank bonus offer. In my case, it only took 2 days from the time I opened a Varo bank account for SwagBucks to issue my $120 reward (12,000 SwagBuck points).
**If the SwagBucks Varo bank account promotion is no longer available, then follow the directions on this referral link to earn a Varo bank sign up bonus.
Redeem 12,000 SwagBuck Points
Offers claimed on SwagBucks will earn you cash back points. In this instance, the Varo money sign up bonus promotion will earn you 12,000 SB cash back points, which can be redeemed for PayPal cash or to gift cards.
100 SB Points = $1 in Value
This makes the Varo money bonus offer worth $120, which is a significant increase from the $50 bonus reward if you were to sign up with a different referral link.
If you’re looking to convert your SB points into cold hard cash, then redeeming it for PayPal Cash is the way to go. You can cash out to your PayPal account in increments of $5, $10, $25, $50, $100 and more.
I opted to cash out my rewards to PayPal and redeemed a $100 PayPal Cash reward and a $10 PayPal Cash reward. This left my account with about 1,000 SB points that I can redeem later on.
The money showed up in my PayPal account within 3 business days of requesting the reward, under the name ‘The Rewards Store.’ Since this was my first time trying out a SwagBucks offer, I can tell you that I was relieved to see the money in my account. The offer almost sounded too good to be true, but it did in fact work as stated!
You can also choose to redeem your 12,000 SwagBuck points to gift cards. You’ll find a variety of gift cards available to choose from including from Amazon, Home Depot, Apple, VISA, Walmart, Target and more.
Additionally, you’ll oftentimes find gift cards that are on ‘sale.’ These cards can be a really great deal, especially if you’re a frequent shopper of that merchant.
For example, SwagBucks is currently offering a 12% discount on a $25 Amazon gift card. So instead of the regular 2,500 SB points needed to redeem the card, you’ll only need 2,200 SB points. The $25 VISA gift card was also on sale at 13% off, which is a rare find!
Why Varo Bank?
Varo Bank is a branchless, 24/7 mobile banking app. As an online bank, you’ll be able to manage everything straight from your phone. And like most major banks, your money is also FDIC insured up to $250,000. So you can rest assured knowing your money is safe and secure.
Varo bank offers both an online checking account as well as a competitive high yield savings account.
A Varo bank online checking account is free to open, and the majority of applicants get approved almost immediately. Other benefits to a Varo bank account include:
- No monthly maintenance fees
- No minimum balance requirement
- 2-day early paycheck
- No foreign transaction fees
- No ATM fees at over 55,000+ Allpoint® ATMs.
In addition to all the above, you’ll be able to earn up to 15% cash back on your purchases, up to $50 per month when you enroll into Varo Perks. Their Visa® Zero Liability feature also guarantees you won’t be held responsible for unauthorized charges on your debit card.
Varo Savings Account
When you open a Varo high yield savings account, you’ll have access to automatic savings tools. This feature includes, Save the Change, which will help you save money every time you spend with your Varo debit card.
The Varo Save Your Pay is another tool that will automatically deposit a percentage of your pay into your savings account. The amount you decide to save with this feature is completely up to you. You control the percentage of your deposits you wish to put aside.
Other Bank Account Sign Up Bonus Offers
The $120 Varo money sign up bonus promotion with SwagBucks is one of the best and easiest bank bonus offers available today. But it’s not the only offer on the block. If you love taking advantage of bank sign up bonus offers, then these other promotions may interest you as well.
Chime – This is another FinTech company similar to SoFi, but one that offers a credit builder feature for increasing your credit score. They are currently offering a $100 cash sign up bonus once you set up a qualifying direct deposit of $200 or more.
SoFi – SoFi Money is a free online banking option most beneficial to people who do simple banking, and who don’t need to go into a physical bank location. As a SoFi member, you can earn a $15, $50, or even $300 sign up bonus based on the financial product you’re most interested in.
One Finance – This Fintech company provides free online banking services through the Coastal Community Bank. They offer features such as a high-yield savings account, no monthly maintenance fees, and an opportunity to borrow money at low interest rates. They’re currently offering a $50 cash sign up bonus once you set up a qualifying direct deposit of $250 or more.
Nearside, formerly known as Hatch, is a free online business checking account for small businesses including: the self-employed, freelancers, gig economy workers, contractors and anyone else working hard on their side hustle. They are currently offering a $90 cash sign up bonus to new account holders.
Acorns – This is an app that will automatically invest your spare change into a portfolio of ETF’s. The Acorns checking account will do all the heavy lifting for you and your family for a small monthly fee. Currently, they are offering a $5 sign up bonus when you deposit and invest your first $5.
Varo Money Sign Up Bonus Conclusion
The Varo money sign up bonus offer from SwagBucks will not be around for long. Prior to the $120 Varo bank promotion, SwagBucks was only offering a $30 bonus. This is one of the reasons I quickly jumped on the offer, and I'm glad I did. So don't sit on this for too long, otherwise you may risk losing the high cash back reward.
Now while the Varo bank account bonus does not require you to complete a direct deposit to qualify for the reward, some other banks will require this. For some, this poses a roadblock to the bank bonus reward.
As a solo entrepreneur, I ran into this issue with the $100 Chime bank bonus reward. Thankfully, I was able to find a clever workaround this, and I share the discovery in this YouTube video. Feel free to use this strategy if you're having trouble moving around your direct deposit to claim a bank bonus offer!
I also recorded the bank bonus sign up process for both the Nearside $90 bonus and the Sofi $25 bonus. In each of these YouTube videos, I document the process of opening each account, as well as how long it took me to receive each bank bonus reward. While you're over there, make sure to subscribe to my channel for more money making hacks!
Enjoyed this post? Come back to it later by Pinning the Image Below on Pinterest!