How to Save Money with Varo Bank
I’m all about optimizing my money, and this savings hack is by far one of my favorites. I know you work hard for your money, and I want to share this valuable information with you. Because you deserve a bank that works as hard as you do. Believe it or not, but your bank account may be costing you, quite literally. Keep reading to learn how to save money with Varo Bank.
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First Things First
First off, here is why I love high yield savings accounts. High-yield interest accounts offer savings accounts that provide a high APY.
What is APY? I’m so glad you asked. APY stands for (Annual Percentage Yield). Most banks provide an APY as a way to pay you for having an account with them, but their APY rates are usually laughable (see below). These rates can earn you money.
What to Look for in a HYSA
Secondly, here are some things you should consider when looking at high-yield savings accounts (aka HYSA):
- High APY (Annual Percentage Yield)
- No Fees
- Easy Transfers
- No Minimum Deposits
- FDIC Insured
- User-Friendly App
How To Save Money With Varo Bank
Let’s get into the good stuff! A HYSA with a good APY will earn you more money compared to big banks. Check it out for yourself below.
Where you put your money matters. That’s how my high-yield savings account earns me $250 a year, while your Bank of America account earns you $0.32 a year. Is your bank account working hard for you? If not, it’s time to ditch the corporate banks for more efficient and higher-yield bank accounts.
Why I Love Banking With Varo Bank
Varo Bank is personally my online bank of choice for so many reasons! For one, they offered a high APY even during the pandemic, meanwhile other banks significantly dropped their APYs. This means that even during the economic backlash of the pandemic, my bank account grew due to the high APY. Another reason I love Varo Bank is because their user interface is simple and easy. Another big perk by Varo Bank is that it allows paychecks to deposit in your bank account 2 days before regular banks.
As an extremely happy customer with Varo Bank, I definitely recommend their high-yield savings account. Even if you’re new to using online banks, they really make it simple and stress-free. And today I get to share a special offer with you!
I’ve teamed up with Varo to give you $50 when you open a new account with them and spend $20! Use this referral link to get your special offer today!
For more ways to save money, check out the FREE 7-day Money Savings challenge.
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