[Expired] [Targeted] Varo Money: 5% Cash Back On Up To $2,000 (Debit Card Spend)

Deal has expired, view more Varo Money deals by clicking here 

The Offer

No direct link to offer. Sent out via e-mail, subject line is ‘🎁December only! Earn up to $100 cash back🎁Learn how

• Varo money is offering 5% cash back on all debit card spend until December 31st, 2018. Limit of $100 cash back ($2,000 in spend)

The Fine Print

• Reward credits of $10 or more applied to the Varo Account are considered interest and will be reported on IRS FORM 1099-INT
• Varo will reward you with up to 5% of your eligible purchases made between December 3–31, 2018, up to $100 cash back based on the first $2,000 you spend.
• Your Varo Account will be credited by January 15, 2019.
• ATM transactions and peer-to-peer transactions do not qualify.
• Varo Account must be open and in good standing at the time reward is applied.
• Offer only available to the addressee of this email.
• As sole sponsor and administrator of this offer, Varo Money, Inc., reserves the right to cancel or modify its terms or terminate any customer’s eligibility at any time and without prior notice.
• Offer void where prohibited.

Our Verdict

Crazy good offer, only downside is that it looks like they will consider this as interest and not a rebate and will report it on a 1099-INT. Varo is mobile banking app, they have raised $78.4 million to date. Given the account only offers 1.75% APY there hasn’t been much reason to open it but if these types of offers continue then that will change quickly. If you already have a Varo account let us know if you received this offer or not.

Hat tip to reader Michael M