Varo Money is banning users for sharing referrals.
Offer at a glance
- Maximum bonus amount: $50
- Availability: Nationwide
- Direct deposit required: Yes, $250+ within first 45 days
- Additional requirements: Use a referral, must be e-mailed to you and you must use the same e-mail address to sign up
- Hard/soft pull: Soft pull
- ChexSystems: No
- Credit card funding: Unknown
- Monthly fees: None
- Early account termination fee: None
- Household limit: None
- Expiration date: March 31st, 2019
The Offer
No direct link to offer, requires a referral.
- Varo Money is offering a bonus of $50 when you open a new account and complete the following requirements:
- Receive a direct deposit of $250 or more within the first 45 days
Avoiding Fees
Monthly Fees
This account has no monthly fees to worry about
Early Account Termination Fee
There is no early account termination fee.
Our Verdict
Previously they offered a $100 bonus with the exact same requirements. Personally I’d wait for such an offer to return (did anybody get an offer for $100? Last time most people only had offers for $50 but a few people had $100 offers) as this offer is obviously much weaker. I won’t be adding this to our best bonus page, as a much better offer was recently offered. I’m really only posting this so people know that that better offer was previously available and so people stop e-mailing me about this deal. As always please share your experiences and data points in the comments. Referral information is NOT to be shared in the comments, share that in this linked post instead.
View Comments (46)
chase no longer works, discover dd does
I received an email today for $75.
"Right now, you have the chance to earn $75 for sharing Varo with a friend. Keep referring friends and you could earn a max of $500!"
Me too! Go ahead and list your referral so Varo can close it down. lol
@guest_743484 Good thing I knew you IRL when you referred me. (In Reddit Life)
I am sure if someone is seeking a referral link, they could find one. hint hint
Lol
anyone received more than one referal bonus? refereed two only 1 posted? and both are completed at the same day.. varo seems like scam i also refereed my parents there not accepting it because i haven't sent them the ID in picture form and it can't be in PDF form..is this some kind of delay to avoid bonus?? lol
My daughter got 2 $50 bonuses for referring 2 different people
Chase didn’t work. Trying Paypal today.
I used Discover ACH and it worked. Received bonus today.
I just sent them an email to close my account today (already withdrew money). They already processed it and no longer have an account with them.
no fees whatsoever?
Haven't seen many positive or negative DPs for this one. Schwab Brokerage push did not count for P2 as it has in the past. Will have to set up real DD, and report back.
Data Point: Pushed $251 Navy Federal CU ACH, no bonus. :(. People got their bonus on the same day?
Have anyone tried Wells Fargo or Capital One?
Hi @guest_727112 Any luck yet? I just pushed with Capital One ACH and it went through yesterday. No bonus though.
NFCU deposit didn’t trigger
Deposit from my employer worked!
Bonus should post the same day or next day.
If you didn’t see it, your method didn’t work
Wondering why Varo Money is so popular. Is it just because of the referral? Account opening bonus isn't too strong.
Yeah, was popular when it was a $100 referral bonus. Think the $50 is just popular because people want to share their links, the actual deal is awful.
@guest_726479 @will Awful? I wouldn't say that Varo deal is awful. It's not the best offer, but now at $75 each for the referrer and the referred person, makes it a little sweeter. No Chex pull or hard credit pull, no fees to worry about, etc. I do all the freebie debit cards like this (Chime, Simple, Netspend, various other apps, etc.) and sometimes they can be a really sweet deal.
i dont see any comments on here https://www.doctorofcredit.com/varo-money-referral-post-2/
Had to remove them all because of people getting banned
See: https://www.doctorofcredit.com/varo-money-banning-users-for-sharing-referrals/
They were deleted since Varo is being dumb and banning people who share their links on blogs.
I opened the account on 12/12/18. My company paycheck direct deposit was received by Varo on 12/14/18. Today is 2/22/19 which has been over 2 months. Haven't got the sign up bonus yet. Sent the email to help@varomoney.com on 2/17/19. Also didn't get any response. The company looks like a good startup. I guess maybe because they do not have enough people right now. Will keep waiting for their response.
UPDATE: Got email reply today and bonus. Thanks for Varo team : )
glad you got it.
the most amazing thing about this is you actually did real DD and didnt get it... like 99% of people here did their normal bank account (ally) or something similar and got it same day... sorry you got so unlucky!