Varo Bank vs Bank of America
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Learn More | Visit Site | |
Varo Bank | Bank of America | |
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Online Savings Account - | Bank of America Business Advantage Checking Account - $200 Bonus Offer - | |
Benefits and Features | ||
Savings | 3.00% APY on all balances. Opportunity to earn 5.00% APY if your daily savings balance does not exceed $5,000 AND you make at least 5 Varo debit card purchases per month AND receive at least $1,000 in direct deposits in either the Varo Bank Account or Savings Account. | ![]() |
CD | ![]() | |
Checking | No monthly service fee; no minimum balance; no overdraft fees | ![]() |
Customer Service | Mon-Fri 8am - 9pm (ET) and Sat-Sun 11am to 7pm (ET) |
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Minimum Deposit to Open | ||
Mobile App | ||
ATMs | Over 55,000 fee-free AllPoint ATMs | |
IRA CD | ![]() | |
Locations | Approximately 3,900 retail financial centers | |
Monthly Fee | ||
CreditDonkey® Reviews | ||
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Savings | ![]() ![]() ![]() ![]() ![]() | |
CD | ![]() ![]() ![]() ![]() ![]() | |
Checking | ![]() ![]() ![]() ![]() ![]() | |
Customer Service | ![]() ![]() ![]() ![]() ![]() | |
Mobile App | ![]() ![]() ![]() ![]() ![]() | |
Pros & Cons | Pros:
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Bottom Line | National bank with widespread accessibility and wide range of services... | |
Learn More | Visit Site | |
Blank fields may indicate the information is not available, not applicable, or not known to CreditDonkey. Please visit the product website for details. Varo Bank: Pricing information from published website as of 11/08/2023. Bank of America: Pricing information from published website as of 12/05/2023 based on 91107 zip code. |
Bank of America Business Advantage Checking Account - $200 Bonus Offer
- Open a new eligible business checking account by June 30, 2024
- Make Qualifying Deposits* of $5,000 or more in new money within 30 days of opening the new eligible business checking account
- Maintain an average balance of $5,000 for the next 60 days (day 31-90) during the maintenance period**
**The maintenance period begins thirty-one (31) days after account opening and ends ninety (90) calendar days after account opening.
Member FDIC
Business Advantage Fundamentals™ Banking
- No fee for first 200 transactions per statement cycle
- No fee for first $7,500 in cash deposited per statement cycle
- Waive the $16 monthly fee in a variety of ways
Business Advantage Relationship Banking
- No fee for first 500 transactions per statement cycle
- No fee for first $20,000 in cash deposited per statement cycle
- Waive the $29.95 monthly fee by maintaining a $15,000 combined average monthly balance