Is Varo Money a legitimate and trustworthy financial institution?

Yes, Varo Money is a legitimate and trustworthy financial institution. Varo Bank N.A. has been granted a national bank charter by the Office of the Comptroller of the Currency (OCC), and it is overseen by several federal agencies, including the Federal Deposit Insurance Corporation (FDIC), which insures customer deposits up to $250,000 per depositor. Additionally, Varo adheres to strict regulatory standards and offers customers a range of banking services such as checking and savings accounts, with a focus on accessibility and efficiency through its mobile app. The platform's commitment to financial health, lack of monthly fees on basic accounts, and provision of early direct deposit options further reinforce its reputation as a credible entity within the banking sector.