To qualify for Varo Advance you’ll need:
- An active Varo Bank Account (not closed or suspended) and a balance over $0 in all Varo Accounts
- At least $800 in total qualifying direct deposits(1) to your account(s) in the current or previous month
- All prior Varo Advance payments must be made on time
New Advance customers will be prompted to agree to our terms and conditions. Varo Advance does not impact your credit score.
You can only have one outstanding Advance at a time. As long as you continue to meet the qualifications, you can get your next Advance once your existing balance has been paid.
(1)To define Qualifying Direct Deposit: A Qualifying Direct Deposit is an electronic deposit of your paycheck, pension or government benefits (such as Social Security) from your employer or the government to the extent that can be identified. Tax refunds or government stimulus payments, person- to- person payments (such as Venmo and Varo to Anyone) and funds deposited using a Varo Money routing number are not considered a direct deposit.
Review our terms and revisit the Advance Account Agreement on our Privacy and Legal web page.
Find the Privacy and Legal page here: https://www.varomoney.com/privacy-legal/.