Contents
The Offer
No direct link to offer, sent out via e-mail.
- Varo Bank is offering a bonus of up to $300 for existing customers when they receive a direct deposit.
- For the next three months we’ll match a portion of your paycheck at Varo! Unlock this offer when you receive $1,000+ in qualifying direct deposits within a single calendar month by 8/31/2024.
- Get a $50 match your first qualifying month. Increase your match by $50 every consecutive month you qualify
Our Verdict
So I guess it’s $50 month one, $100 month two and $150 month three? Great deal if targeted. You can see what has triggered the direct deposit requirement in the past here.
Hat tip to carlzjr
View Comments (201)
Paid out one day after DD arrived, mine is local, but I did see datapoints that Relay works. Did the refer a friend bonus with a link I found online. Chex was frozen but got instant approval.
6/6/25 Opened account
6/23/25 Real direct deposit
6/23/25 $100 refer a friend bonus posted
I was just declined for Varo $100 referral bonus, but it didn't say why.
...and apparently I was approved. Twice :|
Were you the the referred or the referrer? How did they inform you that you were declined?
My application was declined too. Referred. They shown it on the web page and in the email they sent.
Anyone try Relay business checking as a DD?
2/14/25 - Transfer from Sequence.io does not work as a direct deposit.
I received my 6th and final $100 bonus on January 2nd. I hope Varo plans to offer this bonus again in the near future.
P1 existing account in-app targeted $600 offer (1% DD match increasing by 1% each month for 6 months)
7/3 - $10,000 DD via Wise w/ Payroll reference
7/4 - $100 bonus 1 posted
8/1 - $5,000 DD via Wise w/ Payroll reference
9/9 - $100 bonus 2 posted
9/10 - $3,334 DD via Bluevine w/ Payroll memo
10/2 - $2,500 DD via Bluevine w/ Payroll memo
10/3 - $100 bonus 3 posted
11/2 - $100 bonus 4 posted
11/4 - $2,000 DD via Bluevine w/ Payroll memo
12/2 - $100 bonus 5 posted
12/3 - $1,667 DD via Bluevine w/ Payroll memo
1/2 - $100 bonus 6 posted
P2 existing account in-app targeted $600 offer (5% DD match increasing by 5% each month for 3 months)
7/3 - $4,000 DD via Wise w/ Payroll reference
7/4 - $200 bonus 1 posted
8/1 - $2,000 DD via Wise w/ Payroll reference
9/9 - $200 bonus 2 posted
9/9 - $1,334 DD via Bluevine w/ Payroll memo
10/3 - $200 bonus 3 posted
I just realized I used the reference Direct Dep with the Wise payments, not Payroll as my previous comment states.
I was targeted for the $600 max bonus, at $100 per month. I received my 5th $100 bonus on December 2nd.
Received the targeted $300 max bonus. DPs below. Account was close to $0 for a year or two
I did the $50, $$100, $150 variety and they paid the $50 and $100 however the third payment was $100 instead of $150. The people at the chat say they do not have bonus greater than $100 even though I had clearly seen it on the perks page. Now the perks page has disappeared. Still got paid but the they shorted the last $50
There were different offers, I think, but my terms said there was a max bonus of $100 for three months. They were not the same terms in the DOC post above.
I know some people got six months terms.
The percentage on my bonus changed each month, 5%-10%-15%, so I changed my DD to match the max $100 bonus each month.
I got the last $100 the other day