Varo: fees, parental controls & FDIC status
Varo is a no-monthly-fee mobile bank aimed at adults 18+ — a fit for the first solo account after a teen card — and it holds a full national bank charter of its own (the first US consumer fintech to get one), so deposits sit at Varo Bank, N.A. directly.
Every figure on this page is sourced to an official document — see how in our methodology. Research information only, not financial advice.
Fees
- monthly
- $0 (no monthly fee)
FDIC coverage, verified
Checked against the FDIC BankFind registry by certificate number — not the app's marketing copy.
Change log
Detected from official filings and pricing pages — most recent first.
- Official pricing page changed — pricing page content changed (https://www.varomoney.com/)
- Official pricing page changed — pricing page content changed (https://www.varomoney.com/)
- Official pricing page changed — pricing page content changed (https://www.varomoney.com/)
- Official pricing page changed — pricing page content changed (https://www.varomoney.com/)
- Official pricing page changed — pricing page content changed (https://www.varomoney.com/)
- Official pricing page changed — pricing page content changed (https://www.varomoney.com/)
- Official pricing page changed — pricing page content changed (https://www.varomoney.com/)
- Official pricing page changed — pricing page content changed (https://www.varomoney.com/)
CFPB complaints
0 complaints on record at the CFPB for Varo Bank, National Association, by product:
Frequently asked questions
Is Varo FDIC insured?
Yes — Varo Bank, N.A. holds its own charter, FDIC certificate 59190, an active FDIC member verified against the BankFind registry; no partner bank sits in between.
Can a teenager open a Varo account?
No — Varo requires you to be 18 or older. It fits as a first independent account for young adults graduating from a parent-managed teen card.
Sources
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