Its always a deep stress to wait for the next payday before receiving the money you worked so hard for. Thanks to Cash Advance Apps that work with Varo, you will be able to receive your payments before the next payday without hassle.
People who can't afford to wait a few weeks for their pay are turning to online banks and cash advance apps for advance loans.
Cash advances are becoming more common in financial institution like Varo.
Varo is a popular mobile banking solution that provides online banking mostly without charges via its own bank, Varo. It also has its own advance facility, which allows you to borrow up to $100.
When you're low on cash between pay cycles, cash advance apps can be a more cost-effective solution. Traditional banks incur costs of up to $35 each overdraft, thus the number of cash advance options has been steadily increasing. Payday loans have also proven to be too expensive.
Most cash advance apps don't impose overdraft fees and instead rely on tips or subscription fees to make money.
Dave, Money Lion, Earnin, Albert, Cleo, and other popular cash advance apps are available on the market. However, not all of them collaborate with Varo.
To restate, Varo's own cash advance option, which allows you to borrow up to $100, is also available. If the advance amount is $50 or more, however, there is a minor flat cost ($3 to $5).
Dave, a cash advance app, evaluates your eligibility for a short-term loan based on your banking history rather than your credit score.
Of course, not every online bank and cash advance app are compatible.
If you bank with Varo, you'll be wondering what cash advance apps work with Varo. This article focuses on the best cash advance apps that work with Varo so you'll know where to turn to whenever the need arises.
Table of Contents
What is Varo Bank?
Varo Bank is a mobile-only bank account app that uses cutting-edge technologies to assist customers improve their financial condition.
Varo Bank provides consumers with the following features in addition to an easy design and user experience:
- Safe and "branchless" banking
- Early direct deposit
- No monthly bank fees
- No hidden fees
- No minimum balances
- 55,000+ Allpoint® ATMs in places you already shop like Target, Walgreens, and CVS^
- High-yield savings accounts (click here for the current APY)
- Tools to help you build up your savings automatically, like Save Your Change and Save Your Pay
- Friendly Utah-based customer service available seven days a week (except federal holidays)
- Contactless payments with your Varo Bank debit card
Varo Bank Accounts are offered by Varo Bank, N.A., and deposits are protected by the Federal Deposit Insurance Corporation (FDIC) up to $250,000 through Varo Bank, N.A; Member FDIC.
Early access to direct deposit funds is contingent on the timing of the payer's deposit submission.
Varo usually post such deposits the same day they arrive, which could be up to two days before the payer's scheduled payment date.
Non-Allpoint ATM owners may impose a fee for ATM withdrawals, however at over 55,000 Allpoint ® ATMs, Varo does not.
Varo charges $2.50 for cash withdrawals made at non-Allpoint® ATMs.
What are Cash Advance Apps?
Cash advance apps allow you to deposit money into your bank account that you've already earned before payday. These apps are usually free or demand a small fee, but there is no interest charged on the loans. These are a cheaper option to payday loans or even credit cards, even with the upfront costs.
Cash advance apps can help consumers who are struggling with cash flow by providing a way to break the paycheck-to-paycheck cycle.
Do Cash Advance Apps Work With Varo?
Yes. Cash advance apps such as Dave, Money Lion, Earnin, Albert, Cleo, all work with Varo. However, the choice on the cash advance app that work will Varo might differ depending on how much you'll want as a cash advance to be deposited into your Varo bank account.
Cash Advance Apps That Work With Varo
| Cash Advance App | Works with Varo | Cash Advance Max |
|---|---|---|
| Empower | Yes | $250 |
| Cleo | Yes | $100 |
| MoneyLion | Yes | $250 |
| Branch | Yes | $500 |
| Dave | Yes | $100 |
| Albert | Yes | $250 |
| Klover | Yes | $100 |
| Varo Advance | Yes | $100 |
Does Empower Work With Varo?
Yes. Empower is a well-known cash advance app that work with Varo and lets you a cash advance of up to $250 through the app.
How to Link Varo Bank to Empower
- Open the Empower app.
- Go to the Home page of your app and scroll down to the Accounts section.
- Click on the + icon on the upper right.
If you can't find Varo Money in the list, you can search for it by tapping the magnifying glass in the upper right corner.
What is Empower?
Empower is a mobile application developed for today's generation. They'll help you succeed no matter what comes your way by allowing you to borrow money.
Empower offers eligible members (with a checking account) an interest-free advance of up to $250.
You must meet certain criteria to be eligible, including a good current account balance, frequent employment payments, and a history of balances. A monthly subscription of $8 is also required.
Does Cleo Work With Varo?
Yes. Cleo does work with Varo, and there have been no reported issues with linking a Varo bank account to Cleo. Subscribing to the Cleo Plus Service ($5.99 a month) allows you to link your Varo bank account or debit card to receive a cash advance.
How to Link Varo to Cleo
- First, withdraw all the money into the account attached to your Wallet by saying "withdraw $amount" to Cleo. It will take 4 business days for your money to withdraw.
- Then say "wallet" to Cleo and hit "View" (if you're in the app hit "Manage your Wallet").
- Hit "Update bank" and Cleo will give you the option to link an existing bank to your Wallet or to add a new account to Cleo via Plaid.
- Add your Varo Money account to Cleo next.
Keep in mind that any account linked to your Cleo Wallet must already be linked to your Cleo account. This account will now hold the money you manually move in and out of your Cleo Wallet, as well as all of your autosaves.
What is Cleo?
You can get a salary advance with Cleo, which is its response to exorbitant overdraft fees and the scary-expensive world of payday loans; it's part of Cleo Plus, the smartphone subscription service.
If you meet the criteria, Cleo may be able to provide you with a no-interest advance of up to $100 to assist you in staying out of your overdraft.
You choose your repayment date, which may be anywhere from 3 to 28 days, and pay Cleo back when you reach it.
Cleo Plus costs $5.99 a month and has no effect on your credit score.
The free version provides you access to Cleo's budgeting tool and digital wallet, as well as a weekly quiz with the potential to win cash prizes, but you won't be able to get a salary advance.
Does MoneyLion Work With Varo?
MoneyLion does work with Varo. You shouldn't face any difficulties when linking your Varo bank account to MoneyLion. MoneyLion members can get cash advances up to $250 at 0% APR.
To link a Varo Account in MoneyLion, select "Link an account" from the "Finances" menu at the bottom of the MoneyLion home screen. Choose Varo bank from the or search for it using the search bar.
MoneyLion only gives cash advance to users who are eligible based on the following criteria;
- Bank account has been active for at least two months
- Has regular deposits of income/paychecks
- It has a positive balance
What is MoneyLion?
MoneyLion is a new kind of banking that provides you more, a lot more, so you can get paid right away. With Instacash, you may acquire a $250 loan at any moment with no interest.
Simply apply and link your checking account to get 0% APR cash advances up to $250 to help you handle essentials and unexpected expenses (no monthly fee).
RoarMoney also offers convenient options to borrow, save, invest, and make money, including the ability to receive your paycheck up to two days early. All-in-one application.
Does Branch Work With Varo?
Branch can work for Varo users, but there is a catch. If you bank with Varo, you will be required to put your direct deposit in your Branch Wallet in order to qualify for an advance, according to the Branch Support Page.
To add Varo to Branch, tap "Settings," then "Payment Methods." You can add a new bank or card at the bottom of the Payment Methods page. Select "Bank." and Varo from the "Add Bank or Card" menu.
What is Branch?
Branch is an app that provides a digital wallet to U.S. residents.
This get paid today app is an on-demand center that helps employees meet their everyday financial demands by allowing them to receive a payroll advance (up to $500 in earned wages every paycheck), monitor their cash flow, and spend anywhere – all from their smartphone.
Does Dave Work With Varo?
Yes. Dave does work with Varo. You shouldn't face any difficulties when linking your Varo bank account to Dave.
Dave user can get up to $100 advances at no cost.
How to Link Varo to Dave
- On Dave App, go to Profile tab.
- Next tap Linked Banks and Card.
- Next tap Change.
- Next select Change bank and follow the prompts.
What is Dave?
Dave is an internet banking platform. The company takes a unique approach to overdraft costs by allowing customers to pay for charge protection.
Dave is one of the most popular cash advance apps, with over 7 million users.
Does Albert Work With Varo?
Yes. Albert does work with Varo. You shouldn't face any difficulties when linking your Varo bank account to Albert.
You may be approved for up to $250 per advance with Albert Instant eligibility.
How to Link Varo to Albert
- Go to the Overview tab.
- Tap the plus sign.
- Select Varo Money or search for it by name if it’s not listed.
- Enter your financial institution account credentials.
What is Albert?
Albert will provide you a cash advance ranging from $100 to $250, depending on your income.
It operates on a subscription basis, charging $3.99 each month and charging no interest or late fees.
You must also pay a $4.99 delivery fee if you wish to advance immediately.
There are no late fines, interest charges, credit checks, or hidden fees in your wallet.
You can request up to three cash advances per pay period as long as you receive a paycheck and have paid off your previous advances.
Does Klover Work With Varo?
Yes. Klover does work with Varo. You shouldn't face any difficulties when linking your Varo bank account to Klover.
Klover members can get up to $100 in cash advances for free.
To get a cash advance, you can add your Varo Bank account to the Klover app and meet the direct deposit requirement.
How to Link Varo to Klover
- Log in & head over to the "Profile" icon on the dashboard
- Select "Bank" and "Remove"
- Select "OK" to confirm that you will be removing your bank account and debit card (your debit card will automatically be unlinked once you remove your bank account)
- Use Plaid (our third-party) to log in to Varo Money
- Proceed to add your debit card
What is Klover?
Klover is a simple app that provides cash advances as well as additional financial services like expenditure analytics and overdraft protection.
It's worth the free download if your bank is supported by Klover.
Klover has a unique business model in that it does not charge interest, fees, or credit checks. It makes money by showing you personalized advertising based on your preferences.
To be eligible for a paycheck advance, you must have at least three direct deposits.
The amount of money you can borrow varies between $100 and $500.
Varo Advance
Varo can also provide you with a cash advance of up to $100. However, depending on the amount of advance, there is a little cost. It costs $3 for $50, $4 for $75, and $5 for 100.
The eligibility requirements are as follows;
- Your Varo Bank Account must be active for at least 30 days and have no negative balances.
- In the previous 31 days, you must have received at least $1,000 in direct deposits to your bank account, savings account, or both.
You can also set up automatic payments directly from your Varo bank account when you use Varo advance.
Does Earnin Work With Varo?
No. Earning does not work with Varo because Varo allows users to receive their paychecks up to two days early, making it difficult to specify a fixed payday.
Earnin has expressly mentioned Varo as one of the banks they do not support on their website as a result of this.
Does Brigit Work With Varo?
No, Brigit does not work with Varo because of connectivity issues.
Also, Brigit does not support Capital One, NetSpend or Chime.
Final Thoughts
Working hard for your payment and only receiving it at the next payday can be stressful especially if you are in need of cash. Cash advance apps are out to help you get cash advances for your urgencies.
There are many cash advance apps that work with Varo which is great for those that bank with Varo. Once linked to your Varo account, these apps will be able to give you cash advances depending on their eligibility requirements.
Though cash advance apps may seem a great option, they can tend out to be expensive so it is worth exploring all cheaper options before engaging with a cash advance app.
Sources:
https://support.varomoney.com/hc/en-us/articles/115011612568-What-is-Varo-Bank-
https://smarts.co/apps-that-work-with-chime/
https://www.infoabsolute.com/cash-advance-apps-that-work-with-varo/