You must meet both of these requirements to qualify for No Fee Overdraft:
- Make at least five qualifying Varo Visa® Debit Card purchases in each calendar month, AND
- Receive total qualifying payroll or government direct deposits of $1,000 or more into your Varo Bank Account or Varo Savings Account in the same calendar month. Payroll transfers via Visa Direct to the Varo Visa Debit card from Uber, Lyft, Doordash, Postmates, and DailyPay are considered payroll direct deposits.
The following deposits to your Varo Bank Account do NOT count as qualifying payroll or government direct deposits:
- These types of ACH transfers:
- Transfers from an account held in your name at another bank, brokerage firm, or other financial institution whether from the Varo Bank Account holder or someone else, or
- Transfers from digital wallets or peer-to-peer (P2P) services, like PayPal, Venmo, Square, and Apple Pay Cash
- Transfers from digital wallets or P2P services made to your Varo Visa® Debit Card using Visa Direct, including, but not limited to, PayPal, Venmo, Cash App, Zelle, Google Pay, Facebook or other similar transfers.
- Cash deposits made using Green Dot®
- Mobile check deposits in the Varo app
These types of debit transactions do NOT count as qualifying debit card purchases:
- Transactions at ATMs, like cash withdrawals and balance inquiries
- Over the counter cash withdrawals
- Transfers from your Varo Visa Debit Card via external peer-to-peer (P2P) transfer services, like PayPal, Venmo, Cash App, Zelle, and Apple Pay Cash or similar services
- ACH debits from merchants, utility service providers, and other financial institutions
- ACH transfers from your Varo Bank Account to another bank account you own
- Payments made using the bill payment ("Mail a check") feature in the app
- Transfers or withdrawals from your Varo Savings Account