Everything You Need to Know About Varo Advance
- Min. Amount
- $20
- Max. Amount
- $700
- Turnaround time
- Instant, once qualified
Our verdict
This provider offers $700 advances with longer repayment terms than most apps, but it charges flat fees.
Varo Advance is the cash advance feature from Varo Bank, which provides advances up to $700 with no interest or late fees. There is no monthly subscription to qualify, and unlike most cash advance apps, you get up to 30 days to pay it back. Plus, all transfers to your Varo account are instant. But it charges fees for advances, which vary depending on how much you borrow. And you need to have at least $800 a month in qualified direct deposits.
Best for: People who want access to cash advances and other banking tools without a monthly fee.
Pros
-
30 day repayment window
-
No monthly membership fee
-
Same-day advances
Cons
-
Fees can run as high as $100
-
Low starting advance limits
-
Must have a Varo Bank Account
Is Varo legit?
Varo is a mobile banking app that was chartered as a national bank in July 2020. Varo Advance is a legit short-term loan that allows Varo banking customers to borrow up to $700 for 30 days. It has loaned over $550 million to its customers.
Varo Bank is insured by the Federal Deposit Insurance Corporation (FDIC), and your accounts are insured for $250,000 if Varo goes under. While it doesn’t sell your data, Varo may share your information with other financial companies and their affiliates. You can view its privacy policy on its website to learn how it collects and shares your information.
What makes Varo shine?
Varo stands out by offering flexible repayment terms up to 30 days. Most cash advance apps require you to repay your advance on your next payday, but Varo gives you a little more time to pay it back when you need.
Plus, Varo customers can access cash advances up to $250 as soon as they open a Varo account. This is different than with many other cash advance apps that start borrowing low, such as $20 for new users. To qualify for a Varo Advance up to $250 on the same day you sign up, you’ll need to link a qualifying external account and meet additional qualifications. Customers can still borrow up to $700 over time.
It also doesn’t charge a monthly fee, which often makes other apps not worth the money. But a few other apps don’t require a monthly membership to qualify, if you want to explore more low-cost options.
And, unlike some cash advance apps, Varo has other banking features, such as a high-yield savings account, a personal line of credit and a credit builder card.
Where Varo falls short
The only real drawback to Varo is that it charges a flat fee for each advance, starting at $1.60 for $20, all the way up to $100 if you want to borrow $700. This fee structure may be more expensive than a cash advance app with a monthly fee, depending on how much you borrow and how often. On the other hand, all fund transfers to your Varo account are instant, making them fast and convenient.
You also need to get paid by direct deposit, which is common in this space. Still, it may not be accessible for some people, such as freelancers, gig workers and other self-employed workers.
Varo cash advance details
| Product name | Varo Advance |
| Loan amount | Up to $250 today. Build up to $700 over time with direct deposit at Varo. Average loan: $195. Qualifications Apply. |
| Turnaround time | Instant |
| Loan term | 30 days |
| Costs | No monthly fee, but a $1.60 to $100 transfer fee |
| Requirements |
|
Varo contact info
| Phone number | 877-377-8276 |
| Customer service hours | Weekdays: 7 a.m. to 8:30 p.m. ET Weekends: 7 a.m. to 8:30 p.m. ET |
| Not listed | |
| X, formerly Twitter | @VaroBank |
| Varo Bank |
Varo cash advance requirements
To qualify for a Varo Advance, you’ll need:
- An active Varo bank account in positive standing
- An available balance of $0 or more
- At least $800 in total qualifying direct deposits in the current or previous month
- No unpaid advances
- No late payments on advances
Other features
Varo is more than just a cash advance app — it also offers these banking features to its customers.
- High-yield savings. Varo offers 5% APY on savings up to $5,000 for eligible customers and 2.5% on the rest.
- Early payday. Get paid up to two days early with Varo’s early payday feature.
- Credit builder card. The Believe Card is a secured credit card that reports your payments to the three major credit bureaus, and there’s no credit check required to qualify.
- Personal line of credit (LOC). Varo also offers an LOC for up to $2,000, with terms as long as 12 months. There’s no interest or late fees, but there is a flat fee on each withdrawal.
Varo reviews and complaints
| BBB accredited | Yes |
|---|---|
| BBB rating | A- |
| BBB customer reviews | 2.71 out of 5 stars, based on 174 customer reviews |
| BBB customer complaints | 2,352 customer complaints |
| Trustpilot Score | 3.9 out of 5 stars, based on 3,373 customer reviews |
| App Store Score | 4.9 out of 5 stars, based on 233,700 customer reviews |
| Google Play Score | 4.7 out of 5 stars, based on 238,000 customer reviews |
| Customer reviews verified as of | 17 May 2025 |
Varo customers praise the cash advance feature, ability to build credit and early paydays. But many users report that since the app was updated, it’s glitchy and doesn’t work as well as the old version. Other customers report that customer service is poor, disputes take too long to resolve and complain about not qualifying for advances even after banking with the company for a long time.
What do people on Reddit say?
How Varo compares to other apps
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Frequently asked questions
How often can I get a Varo Advance?
You can only have one advance at a time. Once you’ve repaid your advance, you should be eligible to get another one as long as your account is in good standing.
How can I raise my Varo Advance limit?
The company says new users can typically only borrow up to $250 at first. To reach the $700 limit, you’ll need to maintain a positive bank balance and always pay your advances back by the due date. Increasing your direct deposits to more than $800 a month will also help.
What happens if I miss my autopay date?
You can set your auto-repayment date anywhere within 30 days from when you get your advance. If you miss your date, you still have until your 30-day due date to pay it back.
Your reviews
Lacey Finder
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