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 or monthly account fees, high-interest savings accounts, short-term lending, and solutions to help customers stretch their paycheck, build credit and start saving. As of December 2021, the company has more than 4 million customer accounts.