Varo launches Perks, a cashback program to help customers stretch their money

By Pavithra R

Varo, the digital national bank, has announced Perks, a trailblazing program combining a brand new cashback program designed to put money back in the hands of its customers with its existing partnership offers.

Perks is designed to both reward Varo customers and provide a platform to brands looking to attract Varo’s dynamic customer base with valuable offers. The cashback program is designed to reward customers for their everyday purchases, customers can use the Varo Visa debit card or the Varo Believe credit card with participating merchants to earn cashback. Cashback is deposited into a linked Varo Bank Account once $5 in cashback is earned, with no points or gimmicks.

“We are excited to partner with great national and local brands to offer a truly accessible cashback program that benefits both the participating brands and our customers. This new cashback program is one of the most flexible and easy to access – and best of all – the program makes cashback available to all customers without requiring a high-cost credit card,” said Jaime Jerusalmi, Varo General Manager of Partnerships and Loyalty.

The new program complements Varo’s existing core banking products, designed to help customers stretch their money. Perks builds on existing partnership offers and provides real cashback on everyday purchases with specific offers from participating merchants like Walgreens, CVS, Macy’s, Kohl’s, Grubhub, Home Depot, McDonald’s, Advance Auto Parts, Sun Basket, fuboTV, Forever 21, and more.

“Varo’s new cashback program is designed to be seamless and rewarding for our customers. We’re leveraging Varo’s scale, our cutting-edge tech platform, and our mission-driven focus to bring a banking benefit to everyone that has typically only been available to holders of expensive credit cards,” said Colin Walsh, CEO and founder of Varo Bank, N.A.

With the new Perks program, Varo reaffirms its commitment to helping customers maximize their money, stretch their paychecks, and put more money directly back in their pockets.

Varo’s mission is to redefine banking, enabling everyone to make smart choices with their money. The FinTech has built its fully digital banking solution from the ground up faster than originally planned. Launched its banking services officially in July 2017, offering premium banking products through The Bancorp Bank, Varo helps Americans stretch their money with bank and savings accounts that have no minimum balance requirement and no monthly account fees.