Our auto-savings tool takes a percentage of your deposit and instantly transfers it into your savings account.
Enable it from the app home screen:
- Select Varo Savings Account > Auto Saving icon below Available Balance
- Choose Save Your Pay®
- Tap the % sign
- Enter percentage to save (enter 0% to turn off Save Your Pay®)
- Select Update
When you navigate back to your savings account, your Auto Saving tools will switch on, and you’ll get an email from us confirming the change.
We'll automatically transfer that percentage from each eligible* direct deposit immediately from your bank account into your savings account.
Save Your Pay® may not be successful if you have a negative balance in your bank account.
*Any direct deposit via Automated Clearing House (ACH) from an outside financial institution to your bank account is eligible for Save Your Pay®. This includes payroll, government benefits, tax refunds, and other payments (insurance payments, Airbnb income, Stripe transfers, etc.). Save Your Pay® does not work with in-app transfers from your savings account or instant transfers to a Varo Visa® Debit Card—like transfers from Uber Instant Pay and Lyft Express Pay.