Varo Bank
Reviews and Complaints

This is my second complaint with Varo Bank. He is a statement by the bank.Tennessee Tarrant (Varo Bank)Jan 28, 2022, 3:15 PM MST Hello ***, We are writing to let you know we received the complaint you submitted to the complaintsboard.com. We understand that this has been a frustrating experience for you. Upon further review of your experience, we identified the following:Your Varo Money account was closed on June 28, due to your account migrating to the new Varo Bank system. On June 29, we sent a refund check with your remaining Varo Money account balance of $2,309.37 to your mailing address on file, ***. This refund check was cashed on August 27. On October 12, you called and requested to have your check reissued to a new address and were advised that we are able to update your address once you provide identification and proof of address documents. After you provided the requested documentation and your address was updated, we discovered that your check had already been cashed and therefore would not be reissued. We apologize for the inconvenience of requesting you the identification and proof of address documentation. As a token of our apology, we have issued a credit of $25.00 to your Varo Bank account. On January 25, 2022, we sent you an image of the endorsed check via email at your request. As of January 28, 2022, we have opened an investigation in regards to your report of the check not being received and cashed by you. Please kindly watch for further communication from us and we will advise you of what steps next to take and what information we will neeprocess. Here is another email from last year from Varo Bank. ..Sanya' (Varo Bank)Nov 15, 2021, 6:45 PM MST I also received another email telling me that they concluded the investigation and they were going to reissue the check. That never happened. Now they tell me that in not getting my refund until further notice.

I have waited 8 years to have my SSI and SSDI approved for my disability. I was finally approved in April 2022. In May I Received a partial back pay check in the amount of $2,523.00 on May 19, 2022. On May 25, 2022 I received another payment from the *** Treasury for $841.00 which was my payment for May 2022. I was to receive another payment on June 1, 2022 for my June 2022 SSI payment from the *** Government. On June 2, 2022 my payment had still not been credited into my account. I called *** Treasury and they confirmed that the payment was made on June 1, 2022 in the amount of $841.00 and was accepted and confirmed received by Varo on June 1, 2022. I contacted Varo and was given many excuses as to why that deposit was not in my account including they had not received any payments for me or my account. They stated as soon as it is received they do not hold them they are immediately deposited and made available. I called everyday through the 3rd to Varo and only got excuses and they never received anything from ***Treasury. I once again called the *** Treasury on Monday June 6, 2022 and they gave me the confirmation of varo receipt of the deposit and the tracking number. I called Varo and they said they would have to launch an investigation to "find" my deposit that once again had been received and confirmed by Varo on June 1, 2022. They told me it would take 2 or 3 days to investigate and I would than receive an update via email in 2 to 3 days on their progress. On June 7, 2022 I called again and got nothing but it's being investigated and I would have to wait another 2 or 3 days for an email update on where the missing deposit was. Now this is SSDI payments from the US Government that the bank is fraudulently NOT depositing into my account. I am demanding my deposit in the amount of $841.00 deposited immediately in my account. I will be reporting to FDIC and COC. Comptroller of the Currancy. This is unethical and damaging to people who rely on this payment.

The company Steady and Varo Bank claim they are partners. As partners, they offer a Booster to potential customers, with specific criteria to follow in exchange for $75. According to Steady's PREVIOUS fine print, it can take up to 60 days before a payment is received. When contacting steady, they blamed the payment delays on their partner, ***. When contacting Varo, they blamed Steady. While *** will respond to emails, Steady has stopped responding altogether. Recently I looked them up online to see if they have misled/lied to other customers. I found several reviews with customers experiencing the same issues. They advertise their boosters to bait people in, yet they fail to follow through on what they promised when all criteria are met. Steady had a message on their app that said if you didn't receive your payment after 60 days, contact them - yet they do not *** I see that they updated their "fine print" on their website, which now says to allow up to 90 days, but when I signed up for the promotion the "agreement" was for 60 days. I will upload the booster requirements (with the 90-day revision) from the steady app and include the email from Steady where they stated 60 days, as well as an email from Varo stating 60 days. Additionally, I found complaints on two different websites regarding the same issues. One dating back to June . However, there are other recent complaints from June 2022 and later. Moreover, there are complaints on Complaintsboard.com from other customers stating 60 days as well. Being that this is an ongoing issue, then these companies should be well aware of what they can or cannot pay / what they can or cannot offer. ...And if they are "partners." then both companies should be equally responsible and at the very least be more dedicated to working with each other to make sure they adhere to their written agreement They should not be allowed to continue to bait potential customers with lies, and if this SCAM isn't illegal, then it should be.

My debit card has a lock feature. In Feb my card was debited by a merchant while locked. This merchant to be named in another complaint had no prior authorization to debit my card or save it on file or any ach authorization. My normal payment to merchant is normally less than $100 which I used my card in store to pay and other times I've used cash. My card while locked was debited $300. I disputed it with Varo and they ruled in my favor because they say the card was locked and the transaction should not have been allowed. Mother's day the same merchant debits my card again for similar amount on a day that my card was locked and that the business was closed. I disputed they ruled in merchants favor this time. I called and asked how they exact same merchant could do exact same thing and the outcome would be different? This is where the lies and or misinformation begins. I was first told I would get email with a link to appeal by close of business that day. I waited 2 days only to be told that the agent was wrong that there is no link it has to be mailed.They also notated that the agent entered my dispute improperly labeled the reason for my dispute leading to unfavorable decision. I was assured it would be reopened and escalated and to expect some response within 24 hours. I reach out and I'm told that their is no escalation. The previous agent misinformed me and that appeals take ten days. I was assured again that because of the situation someone would contact me before 10 days. I have screen shots of the agent telling me the wrong info via chat. I have copies that prove the claim wasn't entered and if I can get transcript of the calls the agents all express that there is no way the transaction should have happened. One agent even said that the merchant attempted the charge on the day before but was denied because card was locked but the second time it cleared and the card was never unlocked. The won't even give me provisional credit until they figure out this mess

For a year now I have struggled with this bank. I had a Varo Money account and received an email stating that Varo money was closing and Varo Bank would open up an account and the customer wouldn't have to worry or do a thing. All funds would transfer and log in credentials would stay the same. Having been on Unemployment and having a direct deposit account this concerned me. Then with having an unauthorized transaction I reported they shut my debit card off. As I waited for new card to show, ( Wich was never ordered like I was told it was,) I had an unemployment deposit made and it was unusable. Not having my new debit card, I decided to transfer it to another bank of mine. *** so as I've linked the two together and done instant transfers that worked before this on particular transfer did not. After noticing my money was not there in my *** account I called Varo everyday for three months to escalate a ticket to supervisors and got a trace and transaction numbers that were not correct. As I learned *** hires a third party Bank called *** and trust for their deposit accounts. This leaving the account holder back from information on any deposits for not being a customer. As it took me a few calls to them and sparking with a branch manager who said she found my transfer of $386 not by numbers but by my name. And instructed me to call *** to commence a release of my my to me. *** Tells me that they are only the receiving party and can't do anything and reach out to Varo for help. Varo has told me that they transfered the transaction on 04/06 like authorized to do. They got the account numbers wrong and wouldn't remit a recall on it like *** and Evolve told me to have them do. When I write emails to Varo support they keep sending back replies that are irrelevant to my case such as my recent application for a new account isn't possible. Totally ignored the problem at hand. Se then both *** and Varo have closed my accounts. I'm out $386

I had an Insurance Policy with a certain company and was having a problem with their business practices. They gave me a hard time about Odometer readings, repeatedly rejecting them and asking for new ones. They provided a link for photo submission, but it was problematic. I requested an alternative submission method, but my request was ignored, and I was left on hold for 90 minutes. Contacting them was difficult with only one phone number and no responsive email system for complaints. They forced me to cancel in May 2022 and I switched to another provider. I provided my account and routing numbers for the new coverage, but the previous company made an unauthorized EFT charge on my card the next day. The new provider canceled my policy due to insufficient funds, and the old company threatened to charge me for 75 miles a day because I couldn't provide an Odometer photo after an electrical issue left my digital Odometer blank. Losing my insurance made it difficult to find another company. They withdrew funds without my permission, and there was no agreement for such access to my account. My bank, VARO, was provided with all the emails to prove the cancellation and unauthorized account access. The link provided outlines the requirements for consumer authorizations for preauthorized electronic fund transfers, which they never obtained from me. VARO refused to return my funds, canceled my card, and left me without a direct deposit destination. I could have secured another insurance if I had received my money within 5 days as promised, but that did not happen. I canceled the policy before the company took the money.

In February 2022, I received my Federal taxes. I made some purchases in the amount of $461.46, in which the funds were pending on my Varo account until the items shipped out. Once the items shipped I was notified that the funds had been deducted from my account. On April 12th, I checked my account only to find that there was a "Varo Initiated Adjustment" placed on my account in the amount of $477. This adjustment put my account $406.13 in the negative. When I spoke with a rep & a supervisor I was told that my purchases from Feb 28th were not approved & the money was placed back into my account. Mind you all of my items shipped & had been in my home for over 45 days already. Speaking with a supervisor I was told there was nothing they could do because Visa did not inform them that the purchase balance was authorized which doesn't make sense to me because I was under the impression that my financial institution authorizes the purchases coming from my account. I reached out to Visa & explained the issue to gain more clarity of the authorization process & Visa explained that they have no dealings with any transaction regarding an account with a bank. I also connected with other customers who has had this same issue with this bank. I balance my checkbook every month & my numbers have added up each & every time. This is not right. There is no way they should be able to take money without any notice. I had the funds in my account for the purchase when that purchase was made. My daughters birthday is in 1 week exactly & this happens now. Even if it was a mistake on their end, it should have been corrected within 10 days or I should have been notified if there were charges on my account that had not been completed. I was not given any notification on my statements or even a letter in the mail regarding this discrepancy. My money was taken & they are not giving me a valid reason as to how this is even possible. I need help immediately... Just noticed an email dated Apr 13

On or around July 20th, I reported my debit card missing/stolen to Varo and i informed them the last transaction I made was on July 15th, 2022 for $2.30 and I must have lost or misplaced my card after that. I explained to *** that my PIN number was unfortunately written on the back of the debit card. On July 16th, 2022, Multiple ATM withdrawals and large purchases at multiple grocery stores were made in places that Ive never been to. Some of the merchants where these unauthorized purchases were made were over hundred miles away from where I live. *** filed the claim for me on July 20th 2022 and I was provided with two dispute reference numbers: 80e3 and 432f. I filed a police report and provided it to Varo and after a few days I called Varo support back to get an update since that was all the money I had left and I had nothing left to pay bills with. During that call I realized that one transaction was left out that was pending at the time when the initial disputes were filed. The transaction was for $2.24 and the dispute reference number was cc47. dispute cc47 was filed on July 25th, 2022 and was resolved shortly after on July 27th 2022 in my favor and I recieved a final credit for $2.24 back to my account. On August 3rd, 2022 I finally received an update for the other two dispute reference 80e3 and 432f with *** stating that they are still under review but an hour later I recieved another email from *** stating they have been resolved and no error was found. I appealed this decision as I provided more documentation via fax to Varo on August 3rd, 2022 to prove that I didnt authorize any of those transactions and I received an email confirming that *** has received my appeal and is reviewing it on August 8th, 2022. In that email it stated that I would receive an update in no more than 10 business days. On August 22nd, 2022 I *** in the afternoon to inquire about my appeal and was told I would receive update by end of day. Instead account was suspended

I have a credit card with this company Varo Bank N.A. or known as Varo Money that has been reported as on time since May 2022-August 2,2022. I have had the safepay option turned on in the application since May 2022 and yet there has been a balance reported August 2, 2022, according to Transunion of $128 exactly. I have not been using this card very much at all as was also confirmed by the first agent I spoke with at Varo Bank N.A., she confirmed there was an error in the reporting therefore it was escalated to be reviewed for up to *** question is not a traditional credit card the customer puts *** on the card by transferring through the app or in a store. The money spent on this card is then considered "available to spend" there is a "card balance" which shows how much you have spent no deposit required no money on card when it arrives to customer. Meanwhile my credit score has dropped 22 points due to this incorrect reporting after speaking to Transunion I was told that it would have to be corrected by the company also my dispute that I filed with them came back stating the information reported was verified as accurate. I just received an email from the Supervisor *** on August 17, 2022, whom I spoke with at length regarding this issue that my dispute with Varo Bank N.A. was completed and their investigation revealed that the correct information was reported to the credit reporting agency (Transunion). I immediately contacted this company upon receiving this email and was told that there was nothing that could be done but was not provided any proof or record of what they were seeing that is different from the application that shows all of the statement and past history. I asked for a supervisor, and was told none was available, also I was refused an Operations Manager or *** Director requested numerous times on the phone call that I first had with ***.

I received a debit card in the mail on July 25th linked to an account that someone fraudulently opened with this company under my maiden name, ***, and tried contacting the company via phone, but you cannot move beyond the automated system for any of the options they provide you to choose from without having to enter your social security number. I am not comfortable giving that to them because I do not know this company, I had never even heard of them before this fraudulent activity, and I am not the one who opened the account in the first place. I then sent an email to their support address, *** at 5:22pm CST the same day explaining that this was done fraudulently and asked to have the account closed immediately and a flag be placed on my name so someone could not try to open another account with my information. At 5:23pm I received a response back informing me that the email I reached out from was not linked to any accounts and to either reach out from the email address linked to the account or email *** to report identity theft. Since I did not open the account or know who did, I obviously have no way of knowing what email is linked to the account so I sent am email to *** at 5:45pm the same evening, explaining and asking the same things as my original email. The automated response I got back asked to allow 24hrs for a response, but I never received one so I followed up again on July 27th at 12:50pm asking for an update or to be contacted. It has now been over a week since I first reached out and I still have yet to receive a response. I simply just want the fraudulent account in my name to be closed, a flag to be placed on my name in case someone tries again, and a confirmation of the accounts closure be sent to me for my personal records and the police report I have filed. I have attached a copy of the email thread from when I reached out both times for reference.