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Varo Bank complaints

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222 Kearny Street 9th floor
San Francisco, CA 94108 | Get Directions

(800) 827-6526

http://www.varomoney.com

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Total Amount in Dispute:
$169,453.00

Total Amount Settled:
$0.00

Complaint Experience

51%

Complaint Resolution Index (CRI)

Complaint Resolution Index (CRI) Explained The Complaint Resolution Index (CRI) is an indicator on how responsive a company is in addressing and resolving customer complaints brought to their attention by BCA. If they are considering doing business with the company, consumers can use this indicator to forecast the likelihood of having their issues addressed if a problem arises. CRI measures the company's customer satisfaction abilities through BCA’s complaint mediation process.

A variety of factors are considered when calculating CRI. This includes how quickly a company responds to complaints, the number of complaints against a company, whether the company addressed complaint allegations, and the outcome of the complaints. CRI is just a subset of the overall rating for the company. Consumers are encouraged to take into consideration the company's CRI, their overall BCA letter rating and other relevant information about the company so they can make a well-informed purchasing decision.

BCA's Summary and Analysis:

Our complaint history for this company shows that the company responded to and gave proper consideration to most complaints. However, one or more complaints are unresolved meaning the company failed to properly address the complaint allegations or their response was inadequate.

Complaint Closing Statistics

55 complaints against Varo Bank closed in last 3 years.

Complaints	Type of response
0	Making a full refund, as the consumer requested
0	Making a partial refund
26	Agreed to make an adjustment
8	Refusing to make an adjustment
21	Refuse to adjust, relying on terms of agreement
0	Unanswered

55 complaints against Varo Bank

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4/25/2024

RESPONSE: Agreed to make an adjustment Amount in Dispute: $1,500.00 Amount Settled: $0.00

Customer Complaint

4/8/2024

I won one of their sweepstakes which was 1500.00 some 2 weeks ago and they told me they were gonna mail it to me they tried to me to give them my log in details for my account with another institution where my ssi money now goes then tried to con me into giving them 100 2 mail it out to me and I questioned it I thought it was shady for ms sandy grape to do that she even told me she would've mailed it if I sent her 100 to do so the number that is linked to my closed account is 6232509495 Resolution Sought I want the funds I was promised delivered to me by check by mail and I'm not gonna stop til i get it I. Mail with tracking

Company Response

4/15/2024

Hello, Thanks for reaching out to Varo through the Business Consumer Alliance. We’ve received your complaint and have worked to thoroughly investigate your concern. In order to protect your online privacy and account details, we’ve responded to your concern directly at the registered email account we have on file for you. Please check your email for this detailed Varo communication. Should you have additional concerns or questions, we can be reached by responding to the email communication. For questions related to something outside of your complaint, please submit a web form at www.varomoney.com/support to ensure that you are routed to the correct servicing channel.

4/23/2024

RESPONSE: Agreed to make an adjustment Amount in Dispute: $3,448.00 Amount Settled: $0.00

Customer Complaint

4/2/2024

My account was closed after fraudulent transactions occurred on my account. After submitting proof from the merchant that the account created through cashapp to perform these unauthorized transactions occurred, and filing a police report and a report through IDtheft.gov, I submitted these documents to Varo bank. In return, my account was close with no reason or supporting documents used to make their decision to close my account even after my written request for the documents, they denied providing any information or possible resolution to my dispute. Resolution Sought Refund of almost disputed transactions.

Company Response

4/10/2024

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