Varo is the first all-digital, fully chartered US Bank. This made Varo distinct from other fintechs, providing customers full-service offering that eliminates the need for multiple financial apps. Through Varo’s mobile app, it offers premium bank accounts that have no minimum balance requirement, monthly account fees or transaction fees, high-interest savings accounts, short-term lending, and solutions to help customers stretch their paycheck, build credit and start saving. Varo is also the first digital bank that offers Zelle® in its app. As of September 2023, the company has more than 6 million customer accounts.