Varo Bank Introduces Varo for Everyone: A Free Instant Payments Feature

Varo Bank has unveiled an exciting new feature, Varo for Everyone, designed to simplify and expedite money transfers for U.S. debit cardholders, as stated by Finextra. This innovative service is set to revolutionize the way individuals send and receive funds, offering a hassle-free and cost-effective solution.

Varo for Everyone is accessible to all Varo Bank account users, empowering them to seamlessly transfer money to any U.S. debit card holder. Notably, this service comes with the added assurance of FDIC insurance and, importantly, zero additional fees.

To access Varo for Everyone, users can navigate to the «Move Money» page within the Varo Bank app. Once there, they can effortlessly input the recipient’s phone number and email address along with the desired payment amount. Subsequently, the recipient will receive comprehensive instructions via text or email, simplifying the payment processing steps.

This latest feature has been introduced with the aim of providing enhanced payments flexibility, particularly for those individuals living paycheck to paycheck across the United States. Varo for Everyone exemplifies Varo Bank’s commitment to offering its users accessible and cost-effective payment services.

Varo Bank’s commitment to innovation and customer-centric solutions was further highlighted in 2022 when the institution made the Zelle payments transfer service available on its mobile banking app. Colin Walsh, the CEO of Varo Bank, expressed his enthusiasm for these developments, stating, «Shortly following the successful launch of Zelle, Varo is continuing its investment and innovation in payments with Varo for Everyone. We are providing the ultimate instant money flexibility, with no fee structure and the security only a bank provides. Varo for Everyone’s three-month development cycle and no-fee basis truly demonstrates Varo’s bank charter with FDIC insurance in action.»

Varo Bank’s Varo for Everyone represents a significant leap forward in the realm of instant payments, making it easier than ever for U.S. debit cardholders to transfer funds securely and affordably. This user-friendly feature is poised to provide much-needed financial flexibility to individuals living paycheck to paycheck, reaffirming Varo Bank’s commitment to delivering top-notch banking solutions to its customers.