With Varo Advance, qualifying Varo clients can immediately get as much as a $100 advance loan to aid extend a paycheck
SAN FRANCISCO BAY AREA , Oct. 16, 2020 /PRNewswire/ — Varo Bank, the only real electronic national bank, is presenting Varo Advance, a cutting-edge product which immediately advances up to $100 to qualifying clients and provides customers more flexibility and control of their funds.
Made to help customers proactively handle their funds, Varo Advance provides access that is instant as much as $100 money right into the Varo Bank app.* No hidden fees, and no instant access fees – Varo Advance provides an advance of up to $20 for free, with a maximum charge of $5 for a $100 advance with a fixed, transparent cost structure – no tips. Clients choose if they wish to repay in just a 30-day screen. Unlike comparable programs, Varo Advance provides clients a seamless, proactive method to access more money to aid extend their paycheck, without the need to overdraft their account.
At any given time whenever 50% to 78percent of working Americans reside paycheck to paycheck, Varo clients gain access to a versatile short-term monetary connection through Varo Advance, providing safety and reassurance in order that an urgent cost could be compensated without added anxiety.
«Our No Fee Overdraft system had been a huge success, saving Varo clients more than $100 million bucks in its very first 12 months. Varo customers asked for an even more solution that is proactive offered greater control of their funds, as opposed to being obligated to go fully into the red to gain access to extra money,» stated Colin Walsh , creator and CEO of Varo Bank. «Varo Advance was made to fulfill the temporary credit requirements of millions of Us americans, and it also continues our dedication to offer clients the strongest feasible foundation for his or her monetary success, with immediate access and low, clear prices.»