back Back

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

By Pavithra R

March 24, 2021

  • America
  • Varo Bank

Varo launches Perks, a cashback program to help customers stretch their money
Colin Walsh, CEO and founder of Varo Bank

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.

Previous Article

March 24, 2021

N26 appoints ex-SoundCloud CPO as the new Chief Product Officer

Read More
Next Article

March 24, 2021

Yeahka’s portfolio company Fushi Technology raises US$15 million

Read More

IBSi Daily News Analysis

Data privacy

July 16, 2024


Rise in sophisticated attacks, state-level threats, and increased ransom DDoS Incidents

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News


Systems Limited & Formpipe team to drive digitalisation for MEA banks

Read More


Jamaica’s First Global Bank partners with Profile Software

Read More

July 17, 2024

Digital banking glitches drive younger generations away from traditional banks

Read More

Related Reports

Sales League Table Report 2024
Know More
Global Digital Banking Vendor & Landscape Report Q2 2024
Know More
NextGen WealthTech: The Trends To Shape The Future Q4 2023
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q1 2024
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
Get your copy now! IBSi Sales League Table 2024