Varo Bank

Varo Bank is an all-digital, FDIC-insured neobank headquartered in San Francisco, California, and the first fintech company in the United States to receive a de novo national bank charter from the OCC in 2020. Founded in 2015 by Colin Walsh, Varo's mission is to make financial inclusion and opportunity a reality for all by providing fee-free checking accounts, high-yield savings, cash advances, a credit-builder card, and personal lines of credit. Unlike traditional banking apps that rely on partner banks, Varo directly holds customer deposits, giving customers up to $250,000 in FDIC insurance and eliminating monthly, minimum balance, and overdraft fees.