Varo Bank has announced a new free instant payments feature called Varo for Everyone that will allow those with a US debit card to make quick and easy money transfers.
In brief:
-The service will allow Varo Bank account users to send funds to any US debit card holders.
-Varo to Everyone is FDIC-insured and does not have any additional fees.
-The feature aims to provide payments flexibility for those living paycheck to paycheck in the US, and offering users cost-effective and accessible payments services.
What does this mean?
CEO of Varo Bank, Colin Walsh, commented on new developments in the bank: "Shortly following the successful launch of Zelle, Varo is continuing its investment and innovation in payments with Varo to Anyone. We are providing the ultimate instant money flexibility, with no fee structure and the security only a bank provides. Varo to Anyone’s three-month development cycle and no-fee basis truly demonstrates Varo’s bank charter with FDIC insurance in action.”
