Varo makes Perks program available to all its customers, helps stretch money further
By Pavithra R
Perks, designed to be radically simple and richly rewarding offers easy access to rewards of up to 15% Cashback in-app from local and national merchants. The bank also plans to expand the program later this year to include exclusive offers for Varo’s most engaged customers with personalized offers based on everyday spending patterns.
Perks is designed to maximize Cashback rewards on every day in-app purchases. Customers can make purchases using their Varo Visa® Debit Card with participating in-app merchants like Walgreens, Nike, Vons, Macy’s, Kohl’s, Grubhub, Home Depot, Dick’s Sporting Goods, Sam’s Club, Safeway, Disney+, Old Navy and more. Cashback rewards are automatically deposited into their Varo Bank Account once $5 in Cashback is earned.
“After an overwhelmingly positive response to Perks from early users, we’re thrilled to extend the program to Varo customers everywhere. From our best-in-class lineup of participating merchants across all spending categories to our seamless in-app integration, every aspect of Perks is designed to make earning Cashback as straightforward as possible – and we’re only just getting started,” said Jaime Jerusalmi, Varo General Manager of Partnerships and Loyalty.
The Cashback program joins the existing series of curated partnership products available in the Varo app including insurance, gig work or international remittances. Perks, along with Varo’s existing premium banking products, is wholly designed to advance the financial health of its customers
“We’re proud to offer even greater value to Varo account holders through a Cashback program that’s straightforward, satisfying and aligned with our customers’ existing spending patterns. Historically, rewards programs have been largely limited to holders of expensive credit cards, which has left millions of consumers behind. Cashback Perks embodies our commitment to providing premium products, superlative benefits and innovative financial solutions to all,” said Colin Walsh, CEO and founder of Varo Bank, N.A.
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.
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