You have the flexibility to choose an auto-repayment date between 15 and 30 days (excluding weekends and federal holidays) after you get your Advance(1). If you want to pay all or part of your Advance sooner, you can manually repay your Advance from the home screen of your app by tapping Varo Advance > Repay Advance.
If you’re unable to repay by the auto-repayment date you selected, then you still have until the 30-day final due date to repay your Advance. The 30-day final due date is calculated from when it was first taken out and can’t be changed.
If you’re unable to pay the Advance back by the 30-day final due date, we’ll deduct any balance owed from incoming deposits to your Varo Bank Account until the Advance is fully repaid.
(1)Varo Advance (VA) is a small dollar line of credit. Initial limits range from $20-$250, work your way up to $500 over time. Fees range from $1.60 - $40 based on loan amount. Current limit can be viewed in the Varo App. Only one outstanding advance at a time, must be repaid in full prior to requesting a new advance. Varo Bank Account, with minimum Qualifying Direct Deposit (QDD) of $800 in current or previous calendar month required. Limits and eligibility evaluated daily and may change at any time. Additional qualifications apply.