Read 30 Varo Money Customer Reviews and Complaints (Page 3)

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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:  28
Bottom Line: 7% would recommend it to a friend
Showing 23-30 of 30
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  • 24 out 25 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.


  • 12 out 12 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.


  • 10 out 12 people found this review helpful

    Horrible experience

    This company is a scam. They closed my account without giving me a good excuse. When I asked why I didn't get a straight response. They closed my account because I either withdrew money from my account or because I had my mom deposit money, but either way, I'm getting a lawyer and suing for false advertising.

    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 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.


  • 4 out 9 people found this review helpful

    No complaints!

    • Arkansas,
    • Mar 29, 2018
    • Verified Reviewer

    I signed up for an account last month and received my card on time, as promised! I've used my card before receiving my direct deposit today from the VA. I transferred funds to my Varo account from an external account to test it out and experienced no fees, and the transfer was quick.

    I don't call my bank for regular things. If I ever need to call a bank it will be for something major, but using the contact option in the app I have received very fast responses, and the customer service seems to be very quick.

    Varo rate has gone up this month to 1.25% if I'm not mistaken, but either way, I am happy with the account and will continue to use it as I need to.

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

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    • Apr 16, 2018

      Company Response from Varo Money, Inc.

      Hi Lenet, thanks for your review! We've worked hard to create the best banking experience possible, without the fees you find at the big banks. We also just increased the APY on our savings accounts to 1.25%. We want our customers to save more money instead of paying fees to the big banks. We appreciate your review! Let us know if you need anything by reaching out to us at help@varomoney.com.


  • 12 out 16 people found this review helpful

    Varo scam

    • Chicago, IL,
    • Mar 18, 2018
    • Verified Reviewer

    My experience Varo has been horrific. I am not one to leave reviews beyond a rating, especially negative ones, however, I feel obligated to so in this case.

    I set up my Varo account almost a month ago and still do not have a debit card or access to my funds.

    Varo does not allow outgoing transfers of your money, so if you are displeased or wish to transfer money to another bank account for whatever reason, you are stuck.

    I have wasted countless hours online and on the phone, and while the customer service reps are friendly, there seems to be little they can do.

    My original debit card never arrived. When I reported this to Varo, I was assured my replacement card would be express shipped and arrive in a few days. When it had not arrived the next week, I again contacted Varo and was informed that it had only been shipped a day before and would arrive in 7 to 10 business days. When I asked again about why a bank would not “be set up for outgoing transfers” I was informed that this was “a feature they were working on and hoped to be able to offer in the future.”

    Please proceed with caution before depositing any money or using the Varo app. Do your research and read reviews.

    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 Dan, I'm sorry to hear about your experience. Upon account approval, we immediately send out a debit card to all our account holders. We send cards out via USPS first class mail, which can take 7-10 business days to arrive. Unfortunately, there are rare cases when cards get lost in the mail or are inadvertently discarded. We don't charge card replacement fees, and we'll do everything we can to get you a new card shipped out. Please feel free to reach out to us at help@varomoney.com, and we'd love to get this resolved for you.


  • 12 out 13 people found this review helpful

    Worst bank ever! Don't waste your time!

    First let me say, this bank has put me through depression. I signed up for this bank in September 2017. I never received my card. I wanted to start using this bank just because I like the fact that I get paid two days sooner.

    I called a representative and had them express ship a card out to me. The woman had my address completely wrong, and I never received it. After arguments back and forth with this bank, they finally gave me a tracking number at the last minute. The weather was really bad and UPS couldn’t assist me at all the day I asked to pick it up (which was the last day before the shipped it back), They closed early due to the snow, and my card was shipped back to its sender.

    After more emails and calls cursing everyone out, a nice gentlemen (who sounded very sympathetic) tried to MoneyGram my money to me. I went to my nearest MoneyGram to pick it up and unfortunately, I couldn’t because Varo is not considered a tradition bank. I’m angry again. After more emails and calls of me cursing people out they tried another alternative, which was to transfer my money into PayPal (the only place where it would work). Of course, that didn’t work.

    Now my $1,500+ is still in this Varo account, and I have no access to it. My birthday is coming up in a few days, and my direct deposit goes to this account, so I’m just out of luck all over the board. There's no way to transfer your money out, they are non-compliant, and just overall sucks. It’s not the representatives, it’s the owner who doesn’t know the qualities traditional banks have, which is being able to transfer funds, working with you to get your money.

    I am fed up with this bank. I will consider using Chime. They are pretty good and send your card out right away, and get your address right the first time. I can go on and on about this crappy bank, but my fingers are just as tired as my brain from dealing with this bank. It’s horrible and I am overly angry.

    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 Mira, I'm sorry to hear about your experience. Upon account approval, we immediately send out a debit card to all our account holders. We send cards out via USPS first class mail, which can take 7-10 business days to arrive. Unfortunately, there are rare cases when weather delays shipments, cards get lost in the mail, or cards are inadvertently discarded. We don't charge card replacement fees, and we'll do everything we can to get you a new card shipped out. I see you have since received and used your Varo Visa Debit Card. Please feel free to reach out to us at help@varomoney.com if you experience any other issues.


  • 7 out 7 people found this review helpful

    Inept customer service and lies

    • Fredericksburg, VA,
    • Mar 9, 2018
    • Verified Reviewer

    They told me I could transfer money between accounts and I can’t. They failed to get my debit card to me three times while promising me it would be here. Right now I don’t have access to my money, and they keep lying to me. I can’t pay my bills without the debit card. Do not use this bank.

    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 Nikki, I'm sorry to hear about your experience. Upon account approval, we immediately send out a debit card to all our account holders. We send cards out via USPS first class mail, which can take 7-10 business days to arrive. Unfortunately, there are rare cases when cards get lost in the mail or are inadvertently discarded. We don't charge card replacement fees, and we'll do everything we can to get you a new card shipped out. I happy to see your replacement card was received and activated. Thanks for your feedback, and please let us know if you encounter any other issues by sending an email to help@varomoney.com.


  • 9 out 14 people found this review helpful

    It’s a clever scam!

    I opened an account with the Varo app. It’s been almost a month now and they never send me a bank card. Each time that I called they give me another date when the card would arrive. I’m still waiting! It’s a clever scam.

    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 Frantz, I'm sorry to hear about your experience. Upon account approval, we immediately send out a debit card to all our account holders. We send cards out via USPS first class mail, which can take 7-10 business days to arrive. Unfortunately, there are rare cases when cards get lost in the mail or are inadvertently discarded. We don't charge card replacement fees, and we'll do everything we can to get you a new card shipped out. I'm happy to see that your replacement card was received and activated. If you encounter any other issues, please feel free to contact us by sending an email to help@varomoney.com.


Showing 23-30 of 30

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