Read 28 Varo Money Customer Reviews and Complaints (Page 2)

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Average Consumer Rating: 1.3
Rating Snapshot:
5 star: 2 4 star: 0 3 star: 0 2 star: 0 1 star:  26
Bottom Line: 7% would recommend it to a friend
Showing 12-22 of 28
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  • 12 out 14 people found this review helpful

    Closed my account for no reason

    • Virginia Beach, VA,
    • Sep 20, 2018
    • Verified Reviewer

    From out of nowhere I get this "account closure" email stating they decided to close my account. I have no idea why nor would they give me any explanation. I have not done anything illegal. I just get my Uber payments deposited through Instant Pay, and bought food, gas, and paid bills. I wrote to Varo again and they said: "they made an appropriate choice based on my transaction history." All I get are vague and generic responses. I didn’t know using my Varo card for Uber Instant Pay and buying food and gas was illegal.

    Bottom Line: No, I would not recommend this to a friend

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    • Oct 23, 2018

      Company Response from Varo Money, Inc.

      Hi Karin, it's always a difficult decision to close Varo Money accounts, although an objective and detailed analysis of account and transaction history, along with leveraging intelligence from sophisticated technology help support conclusions and ultimate decisions. Based on this analysis, we strongly believe the appropriate action was taken. We wish you the best moving forward!


  • 10 out 12 people found this review helpful

    Where is my card?

    I opened this account over a month ago and I’ve supposedly been sent three cards. Two by US Mail and one was supposed to be brought to my front door no later than last Friday. I’ve already set up direct deposit, but without a card, I won’t be able to access my money, and therefore I fear I may have to close my account. I really wanted this to work out.

    Bottom Line: No, I would not recommend this to a friend

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    • Sep 12, 2018

      Company Response from Varo Money, Inc.

      Hi Caitlin, thanks for reaching out to our customer service team. I see that they were able to update your address and send you out a new card. It looks like your new card was received. Yay! If you need any other assistance, please don't hesitate to reach out to us at help@varomoney.com.


  • 12 out 15 people found this review helpful

    Don’t do it, it’s not worth the headache

    • New Orleans, LA,
    • Jul 27, 2018
    • Verified Reviewer

    I decided to open an account with them for almost 6 months now. I randomly get an email stating my account is closed and there is no appeal for it. I immediately contacted customer service and they told me I have to email them in order to get any information. (Calling customer was a waste of time, they never have any answers for you.) So I email them and ask how did I violate the terms and conditions. Apparently, my transactions are a problem, the person emailing me clearly stated that based off my transaction history they made the decision to close the account effectively and immediately. I have direct deposit, so that means now my paychecks will be delayed and thrown off.

    They are so inconsiderate, and they will not give you any specific details such as why my transactions would be an issue with anything, it’s my money. I would not recommend them to anyone, they don’t even deserve one star.

    Bottom Line: No, I would not recommend this to a friend

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    • Sep 12, 2018

      Company Response from Varo Money, Inc.

      Hi Michelle, we are sorry you are unhappy with our service. However, we do everything we can to help our responsible, trusted customers. Banking is a two-way relationship, we need to verify financial activity to ensure we keep our whole community safe from fraud. When we cannot verify activity we are on the side of caution, in order to maintain the security and quality of our service. We wish you the best in finding a service that works for your needs.


  • 10 out 11 people found this review helpful

    Great concept, poor performance

    • Brooklyn, NY,
    • Jul 17, 2018
    • Verified Reviewer

    I opened this account for the higher interest rate for a savings account. It seemed to work well for the first transfer I made, after that, I would sign in and see an error message every day. "There was an issue linking your TD Bank account."

    At first, it was only mildly irritating, but after I noticed it was an ongoing thing, I got tired of it. It seemed like I had to initiate a deposit in order for the message to go away. The transfer process also took longer than any bank to bank transfer I have ever done. It would not post into my Varo account until at least two days after it had been withdrawn from my funding source. This error message has scared me into not using the account at all. There are also extremely low limits for transfers; $200 per transfer. There are better online banks that provide service that is consistent, providing the security one needs for their money. It’s almost as though this app is still in Beta, to be honest.

    Bottom Line: No, I would not recommend this to a friend

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    • Sep 12, 2018

      Company Response from Varo Money, Inc.

      Hi Patricia, we appreciate your feedback, and we want you to know that we are listening. We are putting in a lot of work to improve the strength of the account connections, and we are also working to improve the speed of bank transfers. There are several ways to transfer money to the Varo Bank Account that have much higher limits. Direct Deposit is the easiest and quickest way (no limit) to get funds into the account. You can also do instant transfers from online wallets such as PayPal, Cash App, and Venmo. If you have any other questions about funding your account, please reach out to us at help@varomoney.com.


  • 14 out 17 people found this review helpful

    Do not use it!

    • Massachusetts,
    • Jun 25, 2018
    • Verified Reviewer

    After a first minor bad experience with Uber instant payments, I decided to continue using it. First time I called they said there was nothing wrong with the account and Uber said it was a problem with the card. Almost two weeks later they responded to my email with an explanation. So I continued using it.

    The second bad experience was with a refund from a body shop, services were paid by the insurance company, and the body shop offered me two refund options, one by check and another one as a refund to my debit card. I accepted the latter. It took almost ten days to release the funds and not a single email to explain what was going on, so I decided to call. They explained what the issue was, we sorted everything out and funds were released shortly thereafter.

    A few days later, without any notices, they suspend my account for the same transaction that had been settled and approved. They requested documents, and they were sent. The money in my account was for child support and operating costs for my work. I desperately explained the situation, but nothing helped. I explained why I desperately needed the funds and the response I received from a supervisor was that "child support payments can wait," and she hung up on me.

    Do NOT use this app! There are better alternatives such as Simple or Chime.

    Bottom Line: No, I would not recommend this to a friend

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    • Jun 26, 2018

      Company Response from Varo Money, Inc.

      Hi Tiago - We take security and safety very seriously, and there are rare instances when transactions need additional review. I sincerely apologize for the inconvenience. We perform these to maintain the security and quality of our service. Thank your for sending the requested documentation. I'm happy we were able to get this issue resolved for you. Thanks for being a Varo Customer.


  • 14 out 14 people found this review helpful

    This bank is a scam! Never use them!

    • Virginia,
    • Jun 1, 2018
    • Verified Reviewer

    I currently have an account with Varo, and I really regret opening it. I filed a dispute on fraudulent charges because someone used my information to make purchases at Walmart and another location. They took over a week to investigate and then came back to me and said they are closing the dispute and no error was made because I’ve shopped at Walmart in the past. They also closed the dispute of the other charge without reason.

    I’ve tried calling emailing and even escalating complaints to get the disputed department to call me back, and I get nothing. Whenever I call, the representatives are short and nasty. They keep telling me they’re sending me information in the mail, which I never received, and they refuse to open my disputes. I am now out of almost $500.00 because Varo is too lazy to do anything about people fraudulently using other people’s debit cards.

    Don’t use this bank. They are a huge scam. I am definitely closing my account after my next direct deposit.

    Bottom Line: No, I would not recommend this to a friend

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    • Jun 26, 2018

      Company Response from Varo Money, Inc.

      Hello! We understand that fraud can be a difficult and scary experience for our customers, which is why we take all concerns about potential fraud very seriously. We follow industry best practices for investigating fraud to protect our customers. We take pride in our efforts to go above and beyond to help customers and are always looking for ways to improve. We’re sorry that your experience missed the mark. We'd love to speak to you directly about your experience, but I can't find an account under the name on this review. Please reach out to our Customer Service experts at help@varomoney.com as we’d be happy to get this resolved for you.


  • 16 out 16 people found this review helpful

    Absolutely terrible company. Do not put your money in here.

    My first check was deposited. I needed this check. You are promised immediate funds as well as early direct deposit. This is not the case. I deposited my check and the hold time is 13 days. 13 days! I was told my funds would be available on the 23rd. It still isn’t there.

    When I call customer support (which is also terrible, very rude, and uncaring people), they are unhelpful and told me it will not be ready until the 31st. So for 13 days not only can I not pay my bills, but I’ve been starving for a couple of days and now have to continue starving for a total of 13 days. There is no resolution. They promise loans and lending, and can’t even do that so I do not have to starve. This company is absolutely terrible. Do not get Varo. Find a different bank or just cash your checks cash. This is asinine. And beyond low. This is the lowest company I ever had to deal with.

    I repeat, stay away from this company unless you like waiting upwards to two weeks to get your hard earned money.

    I have tried emailing them the proof in an email and have not received a response about that either. The only thing I can do is call this terrible customer support. Absolutely the worst company ever, that I had to deal with.

    Repeat. Do not get a Varo Bank account. I would give zero stars if that was an option.

    Bottom Line: No, I would not recommend this to a friend

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    • Jun 26, 2018

      Company Response from Varo Money, Inc.

      Hi Christopher - Normally, the first $200.00 from a deposit of checks will be available on the next business day after the deposit is applied to the Varo Bank Account. The remaining funds in excess of $200.00 will be available on the second business day after the day the funds from the Mobile Deposit are applied to the Varo Bank Account. However, under rare circumstances, a longer hold may be placed on the funds with new accounts. We want to build a relationship with our customers, which can be hard to do at the very beginning. When you have a good history of check deposits, your account will be updated - giving you access to the funds much faster than what you have experienced. I've emailed you directly with the actions we have taken to make this right for you. Thanks for being a Varo Customer.


  • 9 out 10 people found this review helpful

    Bank is a joke

    • May 28, 2018
    • Verified Reviewer

    I have had an account for a month now, maybe five transactions and three of them have been a headache. I paid a credit card, the money was in the account, that’s how I was able to access the funds to send them, and after that, there are no transactions in my bank, yet the money is magically gone. Last straw, I closed the account.

    Bottom Line: No, I would not recommend this to a friend

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    • Sep 12, 2018

      Company Response from Varo Money, Inc.

      Hi Chris, unfortunately, it looks like there weren't sufficient funds in your Varo Bank Account when your credit card attempted to draft your account. I've reviewed all your account notes, and I don't see any reports of missing money. If you feel money is missing from your account, please reach out to us at help@varomoney.com, and we will be more than happy to investigate for you.


  • 6 out 9 people found this review helpful

    A bank with heart

    I made the leap to Varo Money after Bank of America charged me $140 in overdraft fees in a single day. I had been a BofA customer for decades and didn't even realize that I had so-called overdraft "protection" on my account, so I didn't know how it worked. When I called to ask if I could have the charges reversed (the totals bills covered totaled less than $30) and take it off of my account, I was basically told "no" on both counts.

    Moving to Varo took a bit of to-doing, but I there are few businesses I can think of who say "no fees" and mean it. I've been banking with Varo for several months now and love them. Each time I run into a snag, I call their customer service who are awesome. And while they seem to be working out a few kinks with their app (they are a startup after all), I would definitely recommend.

    Bottom Line: Yes, I would recommend this to a friend

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  • 23 out 24 people found this review helpful

    Closed account

    • Raleigh, NC,
    • Apr 19, 2018
    • Verified Reviewer

    My name is Tee and I opened an account with Varo around December of 2017. I started to get direct deposit from my job and Social Security in January 2018. So from January until April, my job checks and SS was being deposited in my account. Even my IRS tax return was deposited. So, like a week ago, SS deposited a lump sum in my account, from four years of retroactive payments.

    Varo immediately froze my account (on a Thursday evening). It has been a week and a day, and I haven’t had any access to any of my money. My work check, tax return and my daughter SSI check are on hold. I called repeatedly and emailed, and they told me to send over my ID, social security card and proof of residency. I did just that. They closed my account. How is SS money fraudulent when all you had to do is call and verify funds?

    So, they sent my lump sum back to Social Security, closed my account and still haven’t sent my remaining money to me, which they claimed in a check. They have no direct phone number to call them, just by email. They ignored all my emails. They have over $3600 of my money and won't return it. I have kids and bills and had to borrow money (which I never do) to get by. I had to switch banks, change all my direct deposits. So aggravated. I still haven’t received my lump sum money because it’s a process when you change accounts.

    Please DON'T use this bank! They will close your account and they don’t have to give you a good reason why. I guess black people can't have money. Well, I work hard, and I should be treated as such.

    Bottom Line: No, I would not recommend this to a friend

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    • Apr 25, 2018

      Company Response from Varo Money, Inc.

      Hi Tee - Hi Diane, I'm sorry to hear about your experience. We work hard to protect against fraud and identity theft. We try very hard to stop all the bad guys while accepting all the well-intentioned customers, but sometimes our analysis misses the mark. We work to refine the analysis to get better over time. We appreciate your interest in Varo and wish you the best of luck going forward.


  • 11 out 11 people found this review helpful

    Worst bank ever

    • New Braunfels, TX,
    • Apr 16, 2018
    • Verified Reviewer

    I took a chance and opened an account with this so-called bank. They have the worst customer service I have ever experienced. They give their phone agents very little information about accounts, and then they tell you if you want a further explanation to email them and they can clarify. I asked numerous times why I wasn’t able to access the funds that I deposited and all they kept repeating was to email us and we can try to assist you. Very unprofessional, and here I sit with no access to my money.

    Bottom Line: No, I would not recommend this to a friend

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    • Apr 16, 2018

      Company Response from Varo Money, Inc.

      Hi Kevin, I'm sorry to hear about your experience. We work with various partners to verify your identity and protect against fraud and identity theft. We try very hard to stop all the bad guys while accepting all the well-intentioned customers, but sometimes our analysis misses the mark. We work to refine the analysis to get better over time. We appreciate your interest in Varo and wish you the best of luck going forward.


Showing 12-22 of 28

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