Published · Updated · Christian Costa · Digital banks · 1 min read
How much money can you deposit in Varo?
Varo Bank, N.A. is a national bank, so the “which partner holds the money?” question that fits Chime does not fit Varo the same way.
Varo Bank, N.A. is a national bank, so the “which partner holds the money?” question that fits Chime does not fit Varo the same way. How much you can deposit still depends on the rail: cash at a store, a check, a direct deposit and a transfer are not one cap.
Loading cash onto a Varo card is the same question as a deposit: where, and how much. Free load locations and dollar caps change, and Varo prints them in the app and the help center. Open those current limits before you carry cash to a register.
FDIC insurance covers deposits at an insured bank up to the standard maximum on fdic.gov, if the account is a deposit account. It does not cover a fee you pay the retailer that takes the cash.
Sources
This note is educational. It is not a recommendation to buy, borrow or insure anything, and it promises no return.
- Varo
- FDIC