Varo Bank, the first Fintech in the US to become a fully chartered national bank, has added a new “Perks” program for customers. According to a release, Perks offers rewards of up to 15% Cashback from local and national merchants. The new program is set to expand to include exclusive offers for Varo’s most engaged customers that are personalized based on daily spending patterns.
Varo says its program has no complex points system and it’s easy to track accumulated rewards in the Varo app. Cashback rewards are automatically deposited into their Varo Bank Account once $5 in is earned.
“After an overwhelmingly positive response to Perks from early users, we’re thrilled to extend the program to Varo customers everywhere,” said Jaime Jerusalmi, Varo General Manager of Partnerships and Loyalty. “From our best-in-class lineup of participating merchants across all spending categories to our seamless in-app integration, every aspect of Perks is designed to make earning Cashback as straightforward as possible – and we’re only just getting started.”
Varo says that Perks, along with other existing banking products, is designed around advancing the financial health of its customers.
Colin Walsh, CEO and founder of Varo Bank, said the Cashback program is straightforward and aligned with their customers interest.
“Historically, rewards programs have been largely limited to holders of expensive credit cards, which has left millions of consumers behind. Cashback Perks embodies our commitment to providing premium products, superlative benefits, and innovative financial solutions to all.”
Varo states that it is committed to helping customers stretch their paychecks and build a healthy, confident relationship with their money.