Varo Visa Debit card

Who is the Varo Visa Debit card for?

The Varo Visa Debit card is a great online debit card with practically no fees. This card has no monthly fees, no foreign transaction fee, no minimum balance fees, and no overdraft fees, making it a valuable debit card option.

Although you aren't earning rewards with this card, the lack of fees will be very beneficial to the cardholder.

We recommend this card for anyone looking to open a checking account and not pay fees for owning the card or using it. However, be cautious because you must make at least five purchases per month and deposit $1,000 into the account every month, meaning this card might not be viable for everyone.

No Fees

The glory of owning this card is that you will not be charged for using it. There are no monthly fees for ownership, allowing you to use it without penalty.

Also, at all 55,000+ Allpoint ATMs you will not have to pay transaction fees, giving you plenty of opportunities to withdraw or deposit money without having to pay a fee to perform the transaction.

There are no minimum balance fees and no monthly maintenance fees, which are two more ways in which you save with the Varo Visa Debit card.

You will also be able to forego up to $50 of overdraft fees if you open a checking account with Varo.

Finally, there is no foreign transaction fee on purchases you make while abroad. Many cards will charge 3% to use it internationally, but this debit card voids the fee in order to help you save more.

Online Banking

Varo is completely online, allowing you to easily complete transactions at the click of a button. You will never have to walk into the bank, as you will be able to make all deposits online through the app.

Through the app, you are also allowed to easily check and be alerted to all transactions made on your account. You can be notified of all purchases made with your VARO Visa Debit card, allowing you to stay on top of any mysterious purchases.

With this card, you will also receive Visa zero fraud liability, meaning you will not have to pay for any fraudulent purchases made on your account. You will not have to pay any money for purchases that you do not make, giving cardholders peace of mind.

You can also set up direct deposit, allowing you to receive your paycheck before your coworkers. With direct deposit, you will get your paycheck up to two days before other people. The quicker that you get your money allows you to pay off your bills sooner.

This card gives you the ability to lock your card through the app. If you cannot find your card, easily lock it, and you can always unlock your card once you find it.

Cautions

To qualify for the removal of overdraft fees, you must make a decent amount of money, making this card not that reasonable for people without a full-time job. In order to remove your overdraft fees, you must deposit $1,000 monthly into your checking or savings account. Thus, if you are someone who does not work, there are probably better debit cards for you.

Also, since cash deposits are made through a third-party, you may be charged a service fee by this third-party. Although Varo will not be charging you fees, you will have to pay a fee when you make cash deposits.

Conclusion

Overall, this card is an excellent debit card for people making over $1,000 monthly and do not want to pay a lot of fees. Since there are no transaction fees and no maintenance fees, you will be able to own and use this card without paying money. Save money and bank easily online with the Varo Visa Debit card.