Published on December 5th, 2018 | by William Charles97
Varo Money (Online Bank Account) – $100 Sign Up Bonus (iOS only?)
Offer at a glance
- Maximum bonus amount: $100
- Availability: Nationwide
- Direct deposit required: Yes, $250+ within first 45 days
- Additional requirements: Use a referral, must be e-mailed to you and you must use the same e-mail address to sign up
- Hard/soft pull: Soft pull
- ChexSystems: No
- Credit card funding: Unknown
- Monthly fees: None
- Early account termination fee: None
- Household limit: None
- Expiration date: December 31st, 2018
No direct link to offer, requires a referral. Click here to find a referral or share your referral link
- Varo Money is offering a bonus of $100 when you open a new account and complete the following requirements:
- Receive a direct deposit of $250 or more within the first 45 days
The Fine Print
- In order for each party, the referring Varo member (the “Member”) and the referred individual (the “Referee”) to qualify for and receive a $100 bonus, Referee must: 1) use Member’s unique link to register Referee’s email address; 2) open a new Varo Bank Account (subject to approval) by December 31, 2018, using the same email address used for registration in the prior step; and 3) receive at least one qualifying direct deposit of $250 or more into the new Varo account within 45 days of the date the account was opened.
- The qualifying direct deposit must be an electronic payment payable to Referee such as (a) a tax refund, paycheck, pension payment, or Social Security benefits from the U.S. Treasury; (b) a paycheck from Referee’s employer; or (c) a pension payment. Transfers from external bank or other financial institution accounts or peer-to-peer payments (such as through PayPal or Square) do not qualify.
- Bonuses will be paid in the form of a credit to the Varo accounts of the Member and Referee within one week after Referee’s qualifying direct deposit occurs.
- Referee must be a new Varo member with no prior Varo account(s).
- Referee acknowledges that non-payment or payment of the bonus and any related promotional communications will result in Member’s awareness that Referee requested and/or opened a Varo account.
- The name of the direct deposit recipient must be the same as the account holder.
- Member is limited to receipt of a total of $500 in referral payments through participation in this promotional program. Varo Money Inc., the sole sponsor of this promotional program, reserves the right to cancel or modify its terms, or terminate a Member’s eligibility to participate in this promotion at any time without prior notice.
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
This account has no monthly fees to worry about
Early Account Termination Fee
Yesterday we posted about a deal offering some Varo Money existing customers 5% back on debit card purchases. It’s always nice to see nationwide bonuses like this for new customers. Definitely think this is worth doing if you can find somebody to refer you for $100. I’ll add this to our best bank bonus page. As always please share your experiences and data points in the comments. Referral information is NOT to be shared in the comments, share that in this linked post instead.
Big thanks to reader, Ganesh who let us know. Learn how to find bonuses and contribute to the site here.
Useful posts regarding bank bonuses:
- A Beginners Guide To Bank Account Bonuses
- Bank Account Quick Reference Table (Spreadsheet) (very useful for sorting bonuses by different parameters)
- PSA: Don’t Call The Bank
- Introduction To ChexSystems
- Banks & Credit Unions That Are ChexSystems Inquiry Sensitive
- What Banks & Credit Unions Do/Don’t Pull ChexSystems?
- How To Use Our Direct Deposit Page For Bank Bonuses Page
- Common Bank Bonus Misconceptions + Why You Should Give Them A Go
- How Many Bank Accounts Can I Safely Open Within A Year For Bank Bonus Purposes?
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- Complete List Of Ways To Close Bank Accounts At Each Bank
- Banks That Allow/Don’t Allow Out Of State Checking Applications
- Bank Bonus Posting Times