Updated September 29, 2026 · VaultCue Editorial Team
Varo Bank vs Vivid Money
Varo Bank
Higher score in this comparison
Vivid Money
Where Varo Bank and Vivid Money differ
| Compare | Varo BankReviewSee alternativesSee alternatives | Vivid MoneyReviewSee alternativesSee alternatives |
|---|---|---|
| Headline rate | 1% to 3.75%Higher | 3% |
| Rate type | Variable | Fixed |
| Minimum deposit | $0 | €0.010 |
| Deposit protection | FDIC up to USD 250,000 | EU DGS up to EUR 100,000 |
| Access terms | No minimum balance or deposit, no savings cap, access in the Varo app with free instant transfers | Instant access |
| Monthly fee | $0 | €0 |
| Regulators | Not confirmed | Commission de Surveillance du Secteur Financier (CSSF), Dutch Authority for Financial Markets (AFM), Netherlands Authority for the Financial Markets (AFM) |
Same on both: Account kind (Easy access).
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Key differences
- Varo Bank scores higher overall: 8.9 vs 8.8.
- Founded is lower at Varo Bank: 2015 vs 2019.
- Vivid Money is licensed in 1 more country.
- Headline rate is higher at Varo Bank: 1% to 3.75% vs 3%.
- Support channels: only Varo Bank offers Email, Phone.
Our verdict on each
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.
Vivid Money
Vivid Money suits people who want everyday spending plus savings in the same app without monthly upkeep, with the standard plan priced at €0 a month. Cash stays within instant access pockets that suit flexible savers who also move money across currencies for travel or daily life abroad.
Score breakdown
| Area | Varo Bank | Vivid Money |
|---|---|---|
| Cost | 9.3Higher | 9.2Conversion priced at 0.25% keeps cross currency spend modest versus broader market levels |
| Offer | 9.0 | 9.1HigherInterest pocket pays 3% on instant access balances with low entry threshold |
| Trust | 8.5Higher | 8.3Eligible balances covered by EU DGS up to EUR 100,000 with licensed EU supervision |
Availability and regulation
| Country | Varo Bank | Vivid Money |
|---|---|---|
| Luxembourg | Not confirmed | |
| Netherlands | Not confirmed | |
| United States | FDIC FDIC cert 59190 | Not confirmed |
How they place
| Ranking | Varo Bank | Vivid Money |
|---|---|---|
| Savings accounts | 440 of 1420 | 496 of 1420 |
| Online banks | 134 of 402 | 155 of 402 |
Every fact side by side
| Fact | Varo Bank | Vivid Money |
|---|---|---|
| Pricing model | No monthly fee | No monthly fee |
| Legal entity | Varo Bank, National Association | Vivid Money B.V. |
| Headquarters | United States | Netherlands |
| Founded | 2015Lower | 2019 |
| Support channels | Email, Chat, Phone, Help centreCovers more | Chat, Help centre |
Everyday accounts
| Fact | Varo Bank | Vivid Money |
|---|---|---|
| Licence type | Bank | Not confirmed |
| Currency conversion fee | 0%Lower | 0.25% |
| Currencies | Not confirmed | 22 |
| Features | Free ATM, Digital only, No credit checkCovers more | Digital only |
| Local account details | Us ACH | IBAN |
| Free ATM withdrawals | $0 | Not confirmed |
| Transfer fee | Free | Free |
Where each stands against the rest
| Fact | Varo Bank | Vivid Money | Median |
|---|---|---|---|
| Headline rate | 1% to 3.75%above the median | 3%below the median | 3.25 |
Median across 658 listed accounts.
Pros and cons
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
Vivid Money
Pros
- Transfers cost free, which keeps routine euro moves easy to budget
- Supports 22 currencies and issues IBAN for getting paid across borders
- Savings start from €0.01 with withdrawals under Instant access for flexible access
Cons
- Support runs on chat and help centre only, so callers must use chat or articles
- Account is digital only through digital only, with no branch option for cash service
Who each suits
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
Vivid Money
Who it suits
- Travellers and expats holding balances across currencies
- Flexible savers wanting instant access pockets in the same app
- App led users happy with chat based service
Who should look elsewhere
- Consider bunq if conversion cost matters most and you want to compare against 3%
- Consider Bit2Me if crypto linked services matter and you want to compare against 0.95%
- Consider eToro if trading features matter and you want to compare upkeep against £0
Country by country
| Country | Varo Bank | Vivid Money |
|---|---|---|
| United States | Yes | No |
Questions about each
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.
Vivid Money
What does Vivid Money charge for the account+
The standard plan is priced at €0 a month, which keeps upkeep predictable for everyday use. Transfers are listed at free, while currency conversion is listed at 0.25% for cross currency moves.
How many currencies can you hold+
Vivid Money supports 22 currencies, which helps if you hold balances for travel or pay across borders. Local euro details come through IBAN, making it easier to receive salary or transfers within the region.
Other options to compare
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