What is the Varo Money app used for?

The Varo Money app is a mobile banking application that provides users with an array of financial services directly from their smartphones. It is designed for people who are seeking a convenient and technology-driven alternative to traditional banking. Users of the Varo Money app can open a checking account with no minimum balance requirement or monthly account fees, save money in an interest-bearing savings account with competitive rates, and access tools for budgeting and tracking their expenditures. Additionally, the app offers features like automated savings, early direct deposit, and no-fee overdrafts for qualifying users. All these functionalities aim to simplify personal finance management, offering users a modern and accessible way to manage their money effectively.