How To Turn On Overdraft Varo

An overdraft from Varo Bank is the perfect way to make sure you don’t spend more than you have in your bank account. An overdraft is like a financial safety net - it allows you to spend beyond your account balance up to a certain limit. In this guide, we’ll show you how to turn on an overdraft with Varo Bank.

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How do I turn on my overdraft with Varo Bank?

To turn on your overdraft with Varo Bank, first make sure that you have at least $200 in your Checking Account Balance and select which type of deposit account you would like the funds to be transferred from. Then login to the app and click “Enable Overdraft” or visit the Overdraft page in Settings. Finally, review and accept the terms and conditions associated with the feature before completing setup.

What are the fees associated with using an overdraft?

When using an overdraft through Varo Bank, there are no fees associated with setting up and using an overdraft or monthly service charges for having one. However, if an overdraft transfer does occur then a flat fee of $4 will be applied for each transaction (up to two times per month). Additionally, there is a daily maximum amount that can be transferred from your deposit accounts into your checking account – these amounts vary by state.

Is there a limit to how much I can spend with my overdraft?

Yes, each state has different limits for how much money can be spent through an overdraft provided by Varo Bank – these limits range between $100 and $1000 depending on where you live. It is important to note that these limits are subject to change without notice so please consult your account details or contact customer support if needed.

Do I need good credit to use an Overdraft?

No, good credit is not required in order to use an Overdraft from Varo Bank. The only requirement is that you must have at least $200 in your Checking Account Balance when activating this feature so that it can be used properly.

Conclusion:
Turning on an overdraft with Varo Bank is simple process and great way make sure that even if something unexpected happens and you go over budget or don’t have enough money in your checking account - you’re still covered! Just remember though – while having access to additional funds through an Overdraft is convenient it should not replace managing finances responsibly!