Bank record
Varo Bank: who holds your money
Varo Bank, N.A.
- Institution type
- Bank
- Insurance route
- Banks and direct bank accounts
- Recorded partner banks
- 1
- Disclosure read
- September 5, 2026
Insurance route
Banks and direct bank accountsThe disclosure for Varo Bank, read on September 5, 2026, describes a direct bank arrangement for FDIC coverage, federal insurance for bank deposits. This concerns deposits at the relevant bank. The exact disclosure follows.
Summary
Varo Bank is a bank. Varo Bank says customer money is held at Varo Bank, National Association, with insurance reaching customers as direct FDIC insurance at a chartered bank. We read this information in the app's own public disclosure on September 5, 2026, and this page quotes that disclosure below. You can check each partner bank's own page on this site.
Current commentary
Varo Bank is itself a chartered bank, so customer deposits sit directly at Varo Bank, National Association. Deposit insurance comes directly from the FDIC, not through a partner bank. Coverage is $250,000 per depositor, per insured bank, for each account ownership category. Lefomi gives Varo Bank, National Association letter A compared with banks of similar size, based on disclosures read September 5, 2026.
Bank
1 bankVaro Bank, National Association
- FDIC certificate
- 59190
- Role
- program bank
- Uninsured deposit share
- 1.7%
- Lefomi grade
- Grade AScore 99.1 out of 100
- Quarter ending
- June 30, 2026
- Other peers
- 1,434
- Peer group
- Banks, $300M to under $1B
- Deposit insurance
- FDIC insured
Grade alerts for Varo Bank, National Association
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