Varo Money

Neobanks pose latest threat to prepaid card issuer Green Dot

11/08/19

Earlier this decade, a boom in low-cost prepaid cards undercut the firm's business model. Now the fiercest competition is coming from venture capital-backed startups that offer accounts with no overdraft fees.

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Challenger banks already had trust issues. Then came the service interruptions.

10/23/19

Outages last week at Chime and Varo Money have executives on the defensive.

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Third-party glitch disrupts services of two popular challenger banks

10/17/19

The payment processor Galileo suffered what it described as an "operational incident" that caused more than 24 hours of outages at the fintechs Chime and Varo Money.

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Small bank’s big digital goal: Launch 3 niche banks

10/01/19

Surety's first online bank, booyah, is aimed at college students and young grads.

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Challenger banks insist they’re equal to the task of lending

09/18/19

MoneyLion and Varo say familiarity with existing customers — whom they already offer savings, investment and personal finance products — will help them make smart credit decisions.

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Challenger banks apply pressure with fee cuts

09/08/19

Charging customers $40 for a $10 overdraft “makes no mathematical sense,” Chime CEO Chris Britt says in a critique of traditional banks.

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Varo to offer limited overdraft protection to some customers

08/27/19

Its latest feature makes it one of several mobile-only challenger banks in the U.S. that do not charge overdraft fees of any kind.

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Varo Money raises $100M, files deposit insurance application

07/16/19

The new funding comes as the challenger bank inches closer to gaining regulatory approval for a national bank charter.

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Moven's Plan B after buyout bid stalls: Expansion into lending

07/12/19

The fintech is moving ahead with a loan service after regulatory concerns stymied its deal for an ailing bank.

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Chime reports big user growth, but rival Varo questions numbers

06/13/19

The CEO of the digital-only bank Chime says it has quadrupled its membership in a year. So why doesn't his counterpart at Varo believe him?

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