Digital banking group Varo Bank announced on Wednesday it has launched a new Varo Perks Program to help customers “stretch their money.” According to Varo, the program combines a brand new cashback program designed to put money back in the hands of its customers along with the bank’s existing partnership offers.
“This new cashback program is designed to easily reward customers for their everyday purchases – customers can use the Varo Visa debit card or the Varo Believe credit card with participating merchants to earn cashback. Cashback is deposited into a linked Varo Bank Account once $5 in cashback is earned, with no points or gimmicks.”
While sharing more details about the program, Jaime Jerusalmi, Varo General Manager of Partnerships and Loyalty, stated:
“This new cashback program is one of the most flexible and easy to access – and best of all – the program makes cashback available to all customers without requiring a high-cost credit card.”
Varo further explained that Perks builds on its existing partnership offers and provides real cashback on everyday purchases with specific offers from great participating merchants like Walgreens, CVS, Macy’s, Kohl’s, Grubhub, Home Depot, McDonald’s, Advance Auto Parts, Sun Basket, fuboTV, Forever 21, and more. Colin Walsh, CEO and Founder of Varo Bank, N.A, added:
“Varo’s new cashback program is designed to be seamless and rewarding for our customers. We’re leveraging Varo’s scale, our cutting-edge tech platform, and our mission-driven focus to bring a banking benefit to everyone that has typically only been available to holders of expensive credit cards.”