Updated September 29, 2026 · VaultCue Editorial Team
Mox Bank vs Varo Bank
Mox Bank
Varo Bank
Higher score in this comparison
Mox Bank vs Varo Bank: the differences
| Compare | Mox BankReviewSee alternativesSee alternatives | Varo BankReviewSee alternativesSee alternatives |
|---|---|---|
| Headline rate | 0.001% | 1% to 3.75%Higher |
| Access terms | Interest credited daily to the Mox Account; savings balance usable for daily purchases | No minimum balance or deposit, no savings cap, access in the Varo app with free instant transfers |
| Monthly fee | HK$0 | $0 |
| Minimum deposit | Not confirmed | $0 |
| Deposit protection | Not confirmed | FDIC up to USD 250,000 |
Same on both: Rate type (Variable), Account kind (Easy access).
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Key differences
- Varo Bank scores higher overall: 8.9 vs 8.6.
- Founded is lower at Varo Bank: 2015 vs 2020.
- Headline rate is higher at Varo Bank: 1% to 3.75% vs 0.001%.
- Support channels: only Mox Bank offers Community.
- Support channels: only Varo Bank offers Chat.
- Pricing model: only Mox Bank offers Low FX.
Our verdict on each
Mox Bank
Mox Bank suits readers who want a digital-only account that credits interest daily and moves money across several currencies, not the highest savings rate. The monthly fee on the easy access account is HKD 0, transfers carry fees of HKD 0, and the savings rate is 0.001%.
Varo Bank
Varo Bank suits people who want a free digital bank account and an easy-access savings balance without a minimum deposit. It charges a monthly fee of $0, pays a variable rate of 1% to 3.75% and holds deposits under FDIC up to USD 250,000.
Score breakdown
| Area | Mox Bank | Varo Bank |
|---|---|---|
| Cost | 9.1 | 9.3Higher |
| Offer | 8.9A variable savings rate of 0.001% and delivery in 20 seconds to 1 week keep the offer modest. | 9.0Higher |
| Trust | 8.1 | 8.5Higher |
How they place
| Ranking | Mox Bank | Varo Bank |
|---|---|---|
| Savings accounts | 559 of 1420 | 440 of 1420 |
| Online banks | 190 of 402 | 134 of 402 |
Every fact side by side
| Fact | Mox Bank | Varo Bank |
|---|---|---|
| Pricing model | No monthly fee, Low FXCovers more | No monthly fee |
| Legal entity | Mox Bank Limited | Varo Bank, National Association |
| Headquarters | Hong Kong | United States |
| Founded | 2020 | 2015Lower |
| Support channels | Email, Phone, Help centre, Community | Email, Chat, Phone, Help centre |
Everyday accounts
| Fact | Mox Bank | Varo Bank |
|---|---|---|
| Licence type | Not confirmed | Bank |
| Currency conversion fee | Not confirmed | 0% |
| Currencies | 17 | Not confirmed |
| Features | Digital only | Free ATM, Digital only, No credit checkCovers more |
| Local account details | Not confirmed | Us ACH |
| Free ATM withdrawals | Not confirmed | $0 |
| Transfer fee | 0 remit fees on all global money transfers (Express Remit) from 2 July 2024 | Free |
Money transfer
| Fact | Mox Bank | Varo Bank |
|---|---|---|
| Delivery time | 20 seconds to 1 week | Not confirmed |
| Payout methods | Bank, Wallet | Not confirmed |
| Fee to send 1,000 | HK$0 | Not confirmed |
Where each stands against the rest
| Fact | Mox Bank | Varo Bank | Median |
|---|---|---|---|
| Headline rate | 0.001%lowest quarter | 1% to 3.75%above the median | 3.25% |
| Minimum deposit | Not confirmed | $0at the median | $0 |
Median across 658 listed accounts.
Pros and cons
Mox Bank
Pros
- A monthly fee of HKD 0 on the account, with a no monthly fee and low fx pricing model.
- Transfer fees of HKD 0 on Express Remit transfers, paying out to bank and wallet.
- Interest is credited daily and the savings balance is usable for daily purchases.
Cons
- The savings rate of 0.001% sits far under the 3% common across the accounts compared here.
- The service is digital only, so everything runs through the app rather than a branch.
- Transfers can take 20 seconds to 1 week to arrive.
Varo Bank
Pros
- A monthly fee of $0 applies, matching the site median of €0
- The savings account takes a minimum deposit of $0 and pays a variable rate of 1% to 3.75%
- Transfers are free and the ATM allowance is $0
Cons
- The savings rate is variable, so the 1% to 3.75% range can move
- The service is digital-only, which needs a phone and app access for everyday banking
- It is a US bank licence, and the local payment detail is us ach
Who each suits
Mox Bank
Who it suits
- People who want the same balance to cover daily spending and savings, with interest credited daily.
- Readers who send money abroad regularly and value transfer fees of HKD 0.
- Anyone banking entirely in an app across 17 currencies.
Who should look elsewhere
- Anyone chasing a high savings rate, since AXI Card Tarjeta y Credito shows 21.59%.
- Readers who want more from a savings product: PayPal Colombia lists 3.3%.
- Plazo ES suits people who prefer a headline rate of 24.19% over daily crediting.
Varo Bank
Who it suits
- You want a savings balance you can reach at any time from the app
- You want no monthly charge on the everyday account
- You want a bank rather than an e-money or payment institution
Who should look elsewhere
- You want a fixed-rate term deposit, since the rate here is variable
- You need branches or in-person service, as the service is digital-only
- You need euro or UK payment details, and the local detail is us ach
Current offers
Mox Bank
Current offer
Bonus
Mission Bonus Rate: Up to 3.5% p.a. on deposit
Stacking missions; see Mission Bonus Rate Promotion (2026) Terms and Conditions
Source, checked September 26, 2026
Bonus
Mox Payroll: 1.5% p.a. savings top up
Set payroll with Mox; see Payroll Transfer Promotion Terms and Conditions
Source, checked September 26, 2026
Country by country
| Country | Mox Bank | Varo Bank |
|---|---|---|
| Hong Kong | Yes | No |
| United States | No | Yes |
Questions about each
Mox Bank
What does Mox Bank charge to keep an account open?+
The account carries a monthly fee of HKD 0, and the pricing model is no monthly fee and low fx. That matches the €0 median monthly fee across the accounts compared here, which leaves the account among the cheapest digital banks to hold.
How much interest do I earn on Mox savings?+
The headline rate is 0.001% and the rate type is variable, so the return can move rather than staying fixed for a term. Interest is credited daily to the Mox Account, and the savings balance can be spent on everyday purchases. Readers shopping for yield should compare the 3% median here.
Varo Bank
What does Varo Bank charge each month?+
Varo Bank charges a monthly fee of $0 on the everyday account, which matches the site median of €0. Transfers are free and the ATM allowance is $0, so day to day banking costs nothing extra.
How much interest does the Varo savings account pay?+
The savings account pays a variable rate of 1% to 3.75%. Because the rate is variable, the range can move over time. The site median headline rate is 3%, so this sits at the higher end of typical savings listings.
Other options to compare
Other matchups
Related by the facts
Mox Bank
Varo Bank