Is Varo a real bank account?
Deposit accounts held with Varo are completely real, legitimate bank accounts backed by official federal protections and institutional frameworks. Because Varo holds its own national bank charter, consumer balances deposited into Varo checking and savings accounts are held directly on its institutional balance sheet and are fully insured by the Federal Deposit Insurance Corporation up to statutory limits, offering the exact same baseline security found at traditional legacy banking institutions.
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