Varo Bank is introducing Varo Advance, an innovative product that instantly advances up to $100 to qualifying customers and gives customers more flexibility and control over their finances.
Varo Advance provides eligible customers with instant access to up to $100 cash advance directly in the Varo Bank app. It comes with a fixed cost structure and with no hidden fees, and no instant access fees.
Moreover, Varo Advance provides an advance of up to $20 for free, For $100 cash advance it charges $5. Customers can repay the advances within 30 days.
without needing to overdraft their account.
Varo Advance offers customers to access extra money to help stretch their paycheck, without needing to overdraft their account.
“Our No Fee Overdraft program was a huge success, saving Varo customers well over $100 million dollars in its first year. Varo customers requested a more proactive solution that offered greater control over their finances, rather than being forced to go into the red to access additional cash,” said Colin Walsh, founder and CEO of Varo Bank. “Varo Advance was created to meet the short term credit needs of millions of Americans, and it continues our commitment to provide customers the strongest possible foundation for their financial success, with instant availability and low, transparent pricing.”
