Varo is a fintech bank similar to Sofi and Upgrade that offers a free checking and savings account. Currently, there’s a Varo referral bonus promotion where you can earn $25 when completing the following steps.
- Open a Varo account using this promotion link
- Spend $20 within 30 days of opening your account
- Earn a $25 bonus that will be automatically deposited into your account within 4 – 7 days from meeting the requirements
What is Varo?
Varo is a neobank that offers fee-free checking accounts as well as other banking services to customers. As an online bank, they have no physical branches which are not needed in order to deposit or withdraw money. Instead, customers have access to over 55,000 Allpoint ATMs surcharge-free and more than 90,000 Green Dot retail locations to make deposits.
As a Varo banking customer, you’ll enjoy benefits such as:
- No Monthly fees
- Early Direct Deposit
- High yield savings account
- Cashback offers
- Small money advances up to $500
Varo is an account I use to separate small gig work deposits I get with Field Agent from my other main affiliate marketing payments.
Varo Referral Bonus (Guide)
The Varo referral bonus is one of the easiest to get because it doesn’t require you to do a direct deposit, like other Fintech banks require. So while that continues to be the case, it’s definitely a worthwhile banking bonus to go after.
Plus, you’ll be able to earn your $25 referral bonus laser fast, when you follow this simple guide.
Step-by-Step
Use a Promotional Link – The Varo sign up bonus is only available when you join using a promo link, otherwise referred to as a Varo referral bonus link. You can use my referral link here.
Open a Varo Account – In order to qualify for this bonus, you must be a new Varo Bank customer, and have not previously held a Varo Bank account. Bank accounts are only offered to U.S. citizens and permanent residents who are 18 or older with a valid social security number.
Spend $20 within 30 days – Once you open your account, you’ll want to transfer $20 or more into your new Varo account. You can connect another bank card to do this. Then simply spend $20 within 30 days using either your Varo virtual debit card or physical card. Third party transfers such as Cash App, Venmo, Paypal, or similar services will not count as a qualifying transaction.
Earn $25 Referral Bonus – Once you meet the qualifying actions, Varo will deposit a $25 referral bonus into your account within 4 – 7 business days.
One of the common questions most people have about the Varo banking bonus is whether transactions with the Varo virtual debit card count towards the promotional bonus. This is the card that is immediately issued to you upon sign up and can be added to your Apple Wallet.
The answer is Yes. After raising this question to Varo customer service, I was able to confirm that transactions on the virtual card count towards the referral bonus.
This means you can earn your bonus much faster when using your Varo virtual card, instead of waiting for your physical card to arrive in the mail.
Earn More with Varo Referral Bonus
Once you’ve earned your $25 Varo referral bonus, why stop there?
As a Varo customer, you’ll have access to your unique referral link where you can earn more money by referring new members to Varo. For each person you refer that successfully meets the referral bonus requirements, you’ll earn $25.
You cannot earn more than 5 bonuses per calendar year. If you received a Varo $25 sign up bonus that counts as 1 bonus, which means you can earn 4 more bonuses in the calendar year.
Other Bank Bonuses
If you like the Varo Bank referral bonus, then these other bank bonuses below may also interest you. Each has their own set of criteria in order to qualify for the bonus, so make sure to read carefully through the requirements.
DCU – DCU is a credit union offering a 6.17% savings account on up to $1,000 and no-fee checking accounts. Currently, they are offering a $100 referral bonus promotion when you complete qualifying activities.
Upgrade – Upgrade Rewards Checking is a no-fee checking account that earns you 2% cash back on everyday expenses, and 1% on everything else. Currently, they are offering a $200 sign up reward and referral bonus promotion.
Sofi – is a U.S. FinTech company based in San Francisco, CA. They offer traditional banking services and stock investing through their free mobile banking app. Currently, they’re offering a $325 sign up bonus.
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.
Netspend – is primarily known for its prepaid debit card, but very few people are aware of their 5% high yield savings account. The only way to unlock this is to sign up for a Netspend prepaid card. I have one solely for purposes of accessing the high yield account. They currently offer a $20 sign up bonus.
Final Words
From personal experience, I’ve noticed that bank bonus offers change frequently. Other times, they are completely eliminated such as the One Finance banking referral bonus that is no longer offered to new members.
So if you come across a good banking bonus that you want to take advantage of, don’t wait on it. Join now, otherwise, you may risk losing the opportunity to get the referral bonus.
Ready to get your Varo referral bonus? Use this promo link to join now!
