How do I qualify for Varo Advance?

You’ll qualify for an online cash advance if: Your Varo Bank Account is active (not closed or suspended). None of your Varo accounts are overdrawn, with an available balance equal to or greater than $0.00. You have linked a qualifying external account OR your Varo Account has received $800+ in total qualifying direct deposits in either the current or previous calendar month. All prior Varo Advance payments have been made on time. You do not already have an outstanding cash advance. Eligibility for Varo Advance is updated daily. If you qualify, you will see the advance amount available to you by tapping on the Advance tile on the homescreen of your Varo app, answering a couple questions, then submitting your application. If approved, your cash advance will be available immediately.

Does applying for Varo Advance hurt my credit score?

Nope! Applying for a cash advance with Varo has no impact on your credit.

What is my initial borrowing limit?

You can get a cash advance up to $250 on the same day you sign up for Varo when you link a qualifying external account. If you qualify for a cash advance, your initial borrowing limit will be between $20 and $250. The amount is based on your account balances, activity on your Varo accounts, amount of total direct deposits, and other factors. Keep in mind, your borrowing limit can both increase OR decrease over time as these factors change.

How can I increase my borrowing limit?

If you set up a qualifying direct deposit you can borrow up to $500 over time based on your account activity, account balances, direct deposit amounts, on-time repayments of previous Varo cash advances, and other risk factors. Reaching the top end of these limits can take time. We can’t guarantee a higher limit, however, and it is possible for your limits to decrease if eligibility factors are not maintained. By maintaining positive account balances and building a positive repayment history, you can increase the likelihood of increased credit limits. Your eligibility for Varo Advance and your applicable credit limit are both evaluated daily.

How does repayment work?

After taking out a Varo Advance, you have the flexibility to choose an auto-repayment date between 15 and 30 days (excluding weekends and federal holidays) from the date of your advance. If you want to pay all or part of your advance sooner, you can manually repay by tapping the Advance tile on your app’s homescreen, then clicking Repay Advance. All Varo Advance repayments are made from your Varo Bank Account.

What happens if I don’t pay on time?

If you select a repayment date sooner than the 30-day mark, and are unable to repay by that date, then you still have until the 30-day final due date to repay your Varo Advance. The 30-day final due date is calculated from the day your advance was first taken out, and cannot be changed. If you’re unable to repay your Varo Advance by the 30-day final due date, any balance owed will be deducted from incoming deposits to your Varo accounts (or from your linked external account) until the advance is fully repaid. If you’re unable to pay back the advance on time, you may not be eligible for future Varo Advances.

Where does my Varo Advance get deposited?

After accepting your cash advance, your fast funds will be deposited into your Varo Bank Account. From there, it’s yours to spend. Use your Varo free debit card, Believe credit builder card, or get your Varo Advance in cash (for no fee) using any U.S.-based Allpoint® ATM (see locations). We also provide money transfer app services. Send money to anyone, for free, even if they don’t bank with Varo.

How often can I borrow money?

You can only have one outstanding Varo Advance at a time. As long as you continue to meet the qualifications, your next quick cash advance can be taken out after repaying your existing balance.

Can Varo Advance build my credit?

No, we do not report repayments to credit bureaus, as one of the attractive features of Varo Advance is that applying does not affect your credit. While Varo Advance repayments do not influence credit building, the service remains valuable for fostering sensible financial behavior and nurturing a positive banking relationship, which may lead to higher limits on Varo Line of Credit, for example—a product which could help build your credit. Even without bureau reporting, responsible use of Varo Advance can prevent negative outcomes from other cash advance services, such as missed payments or overdraft fees, ultimately contributing to your overall financial stability.

Is Varo Advance a spot loan?

Varo Advance shares similarities with traditional spot loans in its provision of short-term access to funds, quickly. However, unlike typical spot loans (which may have stricter terms and usage requirements), Varo Advance stands out with its digital platform, simplified application process, and flexibility of how funds are used. This makes it a convenient and accessible option for Varo Bank customers in need of quick financial assistance.

Why is my Varo Advance not working?

Ahh, we're sorry to hear that! Please reach out to our Support team in the Varo app by clicking My Varo > Help and support > Contact us. We're happy to help.

What is a cash advance and how does it work?

A cash advance is a financial tool that allows you to borrow a small amount of money against your upcoming income or an established credit line. It is designed to bridge a gap between paychecks, typically offering rapid access to funds. Cash advances can take several forms, but the process for reputable apps is designed for fast funds and transparency. How Varo Advance Works: 1) Eligibility check: The app securely links to your bank account (or you link an external account) to quickly verify your income and deposit history. No credit check is required. 2) Instant approval: If approved, you can request an advance amount up to your limit (initially between $20-$250 on the same day for customers who link a qualifying account). 3) Rapid funding: The requested funds are deposited directly into your bank account, often instantly. 4) Automatic repayment: If you set up automatic repayment, the borrowed amount, plus a single transparent flat fee, is automatically repaid from your incoming direct deposit on your selected due date.

What are the benefits of same day cash advances online?

The primary benefit of a same-day cash advance is speed and financial resilience. When you get a cash advance quickly and digitally, it empowers you to manage unexpected financial pressure effectively with emergency cash while avoiding expensive alternatives. Benefits of Same Day Cash Advances include: 1) Immediate relief: The funds are available for instant use, allowing you to cover time-sensitive expenses (like bills or repairs) without waiting for payday. The speed is a major differentiator: new Varo customers can now access funds on the same day by linking a qualifying account. 2) Avoiding costly penalties: Quick cash advances act as a financial safeguard, helping you avoid high costs like bank overdraft fees or credit card late payment fees. This can help protect your budget and credit history. 3) Simple digital process: The entire experience is non-judgemental and handled digitally through the mobile app. There are no paper forms, no calls, and no need to visit a traditional storefront lender. 4) Transparent cost: Reputable apps offer clear pricing. Varo Advance, for example, is provided with no interest, no tips, and no subscription fees—just a single, clear flat fee, eliminating the hidden costs associated with traditional payday lenders.

How secure is it to apply for a cash advance online?

When you get a cash advance online through a reputable app, such as one from a chartered bank, it is highly secure. Your security level is determined by the provider’s regulatory oversight and the technology they use to protect your data. Varo Bank's Security and Trust Signals include: 1) Regulated institution: Varo Bank, N.A. is a nationally chartered bank regulated by the Office of the Comptroller of the Currency (OCC). This level of oversight provides a fundamental layer of security and transparency that many non-bank apps lack. 2) FDIC insurance: All deposits are FDIC-insured up to $250,000, meaning your money is protected in the event of a bank failure. 3) Data encryption: All applications and account data are protected by industry-standard encryption to ensure your personal information remains private during the application process and beyond. 4) No hard credit check: Reputable apps do not require a hard credit check for eligibility, protecting your credit score from unnecessary inquiries. 5) Fraud monitoring: Our cash advance app employs continuous, real-time fraud monitoring and provides features like instant transaction alerts and the ability to lock your card from the mobile app. For more information, see our Security & Control page.

Cash advance

Instant Cash Advances Up to $250.

Borrow money instantly by linking a qualifying account¹
Get between $20–$250 now, build up to $500 over time
One flat fee per advance, no interest
No credit check or late fees

Need more than $500? Check out Varo Line of Credit.³

Get Varo

Cash advance fees range from $1.60–$40, fee based on advance amount. Quals apply.

Borrow money when you need it.

SAME DAY ADVANCES

EASY REPAYMENT

ONE FLAT FEE

NO INTEREST

Quick cash advance

Better than a payday advance.

Get the emergency cash you need on the same day with Varo Advance. After linking a qualifying account, you can borrow money instantly in the app—with a full 30 days to pay us back.⁴

Need your newfound cash to pay someone back? Send money instantly in the Varo app, even if they don’t bank with us.

SO, CAN I JUST BORROW $500 RIGHT AWAY?

Over time, you can access up to $500 by setting up direct deposit with Varo¹, banking regularly, borrowing responsibly, and making on-time payments.

Comparing cash advance apps

Why borrow with Varo?

Not all apps that loan you money are the same. Our instant online cash advance outperforms many top cash advance apps.² Plus, we have no interest and just one flat fee.

Quals apply.

Varo

Advance

Most cash

advance apps²

Access cash the same day you join

No instant transfer fees

One flat fee, no subscriptions

Full 30 days to repay

How to qualify

$250

Access up to $250 on the same day you sign up:

Open a bank account online to get started.
Link a qualifying external account.¹ Quals apply.
Get access to advances from $20 up to $250.

$500

Build up to $500 advances over time:

Set up direct deposits of $800+ with Varo.⁵
Bank, borrow, and make on-time payments.
Get access to advances up to $500.

Already a customer? See if you qualify.