Varo Cash Advance

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Cash Advance

• Instant cash advances from $20 to $500 
• Get up to 30 days to repay your advance 
• Transparent fees

• Must have a Varo bank account 
• Initial advance amounts limited to $250 
• Fees as high as $40

Amounts	$20 – $500
Speeding of advance	Instant
Fees	$1.60 – $40
Repayment time	15 – 30 days

Varo is an online bank that offers instant cash advances to its banking customers. If you have a Varo bank account, you might qualify for a cash advance of up to $500 that you can pay back within 15 to 30 days. Varo doesn’t charge interest on advances, but you’ll pay a fee based on your advance amount. 

Due to these fees, Varo might not be your most affordable option for a cash advance. However, customers of this online bank may appreciate the convenience of instant funding. Learn more about Varo cash advances in this full review. 

How does a Varo cash advance work?

A Varo cash advance deposits between $20 and $500 into your Varo bank account before payday. No credit check is involved, but new users are limited to a maximum cash advance amount of $250. Your limit may increase to $500 as you continue to bank, borrow, and make on-time payments on your advances. 

After getting your advance, you can choose a repayment date between 15 and 30 days. Along with cash advances, Varo offers banking services such as checking accounts, high-yield savings accounts, lines of credit up to $2,000, and a secured credit card called the Believe Card to help consumers build credit. 

Varo cash advance limits and repayment 

Some cash advance apps charge a fee for instant funding, but all of Varo’s advances are deposited into your bank account right away. However, you’ll still pay a fee that’s based on your cash advance amount. Here’s what Varo charges: 

Cash advance amount	Fee
$20	$1.60
$50	$4
$75	$6
$100	$8
$150	$12
$200	$16
$250	$20
$300	$24
$400	$32
$500	$40

You don’t need to worry about interest on a Varo cash advance outside of these fees. The company will take repayment directly from your Varo account, though you can pay back your cash advance early. 

Because Varo withdraws right from your account, overborrowing could lead to a negative balance. This could cause a financial setback, but Varo doesn’t charge overdraft fees. 

However, relying too heavily on cash advances could lead to financial difficulties and disqualify you from future cash advances from Varo. 

Varo cash advance reviews 

Varo earns mixed customer reviews, with favorable ratings from customers on Google Play and the Apple store. Many users say they’ve had positive experiences with the bank. However, some customers complain about subpar experiences with customer service or difficulty getting in touch with support for technical or banking issues. 

Varo’s reviews on Trustpilot and the Better Business Bureau are less positive. Customers on both sites mention suspended accounts, lack of communication, and unfair charges. Note that the reviews on these sites focus on all of Varo’s banking services rather than its cash advance feature alone. 

You can find reviews specific to Varo’s cash advances on Reddit. On one thread, several customers say their cash advance amount went down with no explanation, even though they always paid their advances on time. 

Platform	Rating	Number of reviews
Google Play	4.7/5	233K
Apple store	4.9/5	221.8K
Trustpilot	1.9/5	2.35K
Better Business Bureau	3.4/5	169

Varo cash advance requirements

To qualify for a Varo cash advance, you must meet the following requirements:

• Have an active Varo bank account in positive standing and not closed or suspended 
• Have an available balance equal to or greater than $0 in your Varo bank or savings account 
• Have at least $800 in qualifying direct deposits to your Varo bank accounts

Varo automatically checks these factors to determine whether you’re eligible for a cash advance. You also may see your cash advance limit fluctuate based on your account balances, account activity, history of direct deposits, and advance repayment history. 

Pros and cons of a Varo cash advance 

Here are the pros and cons of a Varo cash advance. Be sure to consider both before you borrow. 

Pros

• Instant cash advances from $20 to $500

  Varo offers cash advances as high as $500 for qualifying customers.

• Get up to 30 days to repay your advance

  After getting your advance, you can choose repayment terms from 15 to 30 days without worrying about interest or late payment fees.

• Transparent fees

  Varo publishes its cash advance fees upfront so you have a clear sense of the costs.

• Easy to apply

  You can see whether you qualify for a cash advance (and how much) within the Varo app.

Cons

• Must have a Varo bank account

  Varo cash advances are only available to customers with a Varo bank account. They could be a decent option if you already bank with Varo, but it may not make sense to switch banks to access this cash advance feature—especially when many others exist with potentially lower fees.

• Initial advance amounts limited to $250

  If you’re new to taking out a cash advance with Varo, your initial amount will max out at $250. You’ll need to work your way up to a $500 advance, and there’s no guarantee you’ll qualify for that amount.

• Fees as high as $40

  A $500 cash advance from Varo will cost you $40, which is hefty for a small, short-term loan.

• Risk of overdrawing your account

  Because Varo withdraws payment from your Varo account, you risk overdrafts if you borrow more than you can afford to pay back.

How does Varo compare to other cash advance apps? 

Varo may not be your most affordable or accessible option for a cash advance. Several other apps offer cash advances with lower fees and no requirement to be a banking customer. 

EarnIn, for example, provides cash advances of up to $750 per pay period with no interest or membership fees. You won’t pay a fee if you can wait one to three business days for your advance; otherwise, you can pay up to $3.99 for an instant transfer. 

Empower is another option with cash advances up to $300. It charges up to $8 for instant transfers, along with $8 monthly membership fees. Like Earnin and Empower, many cash advance apps don’t charge a fee for advances unless you want instant funding. 

However, the instant funding fee may be lower than what you’ll encounter with Varo. Some of these apps ask if you want to leave a tip for the services, but this additional cost is optional. 

How to get a Varo cash advance 

Here are the steps you can take to get a Varo cash advance. 

1. Download the Varo app: You can download the app on your mobile device from Google Play or the Apple Store. 
2. Have or open a Varo bank account: You’ll need to be a Varo banking customer to access a Varo cash advance. 
3. Look for a cash advance offer in the app: If you qualify for a cash advance, Varo will show you an offer in the app. Tap the offer, confirm your advance amount, and choose a repayment date to borrow. 
4. Pay back your advance: Varo will withdraw funds from your account on the repayment date you chose. It will continue to check your account balance and activity and provide cash advance offers within the app to qualifying customers. 

FAQ

Are there other cash advances that work with Varo?

Yes. Many apps—including EarnIn, Empower, and Dave—offer cash advances similar to Varo, but with a significant advantage: you don’t need a bank account with them to request an advance. 

Unlike Varo, which requires you to use its banking services, these apps allow you to connect any eligible bank account, including Varo, making them more accessible for many users. EarnIn lets you access up to $750 per pay period without membership fees, Empower offers up to $300 with additional savings and budgeting tools, and Dave provides up to $500 with early payment benefits, making them excellent alternatives for flexible, early access to your paycheck.

Can Varo give me instant cash?

Yes, all of Varo’s cash advances are instant. To borrow from Varo, you’ll pay a fee of up to $40 (for a $500 advance).

How long is the waiting period for a Varo advance?

The waiting period for a Varo Advance depends on your eligibility and how often you use your Varo account for direct deposits. Once eligible, you can access a cash advance on the same day you request it. However, Varo may need additional time to approve your request in certain cases, especially for newer accounts.

Why can’t I get a Varo advance?

You might not be able to get a Varo advance for several reasons. A common issue is not meeting Varo’s direct deposit requirements. The bank typically expects a minimum amount in direct deposits to qualify for an advance. 

You may not meet the eligibility criteria if your Varo account is inactive or you don’t use it much. You could also be restricted if you have reached your current advance limit or had repayment issues, such as unpaid or late payments on a previous advance.

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