Save Your Change is a way to sweep some money into your Varo Savings Account when you make purchases or transfer money out of your Varo Bank Account.
We’ll round up to the nearest dollar on eligible transactions and transfer the change from your Varo Bank Account to your Varo Savings Account.
How does Save Your Change work?
When you buy something we round up to the nearest dollar and save the difference for you. Think of it as your virtual piggy bank. For example, if you buy a meal for $5.52, we’ll round up and move $0.48 from your Varo Bank Account to your Varo Savings Account. Or, if you pay a bill for $11.45 we’ll move $0.55 into your Varo Savings Account.
There is no fee for using Save Your Change.
When do the transfers happen?
Each round up is transferred from your Varo Bank Account to your Savings Account when the transaction settles, which usually occurs by the next day. For transfers from your Varo Bank Account to an outside account, the round up will be transferred immediately in most cases.
Are all transactions rounded up?
Most purchases or transfers you make using your Varo Bank Account are eligible for Save Your Change with a few exceptions, such as fees and customer service-initiated transactions. For detail, see the Varo Savings Account Agreement.
How do I turn Save Your Change on or off?
You can turn Save Your Change on or off at any time from your account through the app.
- Open the Varo Bank app and log in
- Tap Home >Varo Savings Account > Transactions > Automatic Savings under the balance > Save Your Change
- Toggle the switch to turn Save Your Change on or off
- You’ll receive an email confirming the change
If you have any trouble, you can always contact our Customer Service Team at email@example.com or by calling 1-877-377-8276.
How much will I actually save?
It depends how frequently you spend! But here’s an example, if you use your Varo Bank Visa® Debit card twice a day for an average round up amount of $0.50, you'll save about $25 a month or $300 a year. If you use your Varo Bank Account for Bill Pay or Direct Debits, then you might accumulate even more by using Save Your Change.