Varo Bank has expanded its offering with the launch of Varo Advance, which instantly advances up to $100 to qualifying customers and gives customers more flexibility and control over their finances.
The offering seeks to give customers more enhanced tools when it comes to finance management and cash usage.
Furthermore, it comes during a period when 50% to 78% of working Americans live paycheck to paycheck, Varo customers have access to a flexible short term financial bridge through Varo Advance, offering security and peace of mind so that an unexpected expense can be paid without added stress.
Colin Walsh, founder and CEO of Varo Bank, commented: “Our No Fee Overdraft program was a huge success, saving Varo customers well over $100 million dollars in its first year. Varo customers requested a more proactive solution that offered greater control over their finances, rather than being forced to go into the red to access additional cash.
“Varo Advance was created to meet the short term credit needs of millions of Americans, and it continues our commitment to provide customers the strongest possible foundation for their financial success, with instant availability and low, transparent pricing.”
Varo Advance is fully integrated into Varo Bank accounts. Once they meet approval criteria, customers can access this safety net conveniently right in the Varo app, without needing a credit check.