How to close a Varo account

As your financial needs change over the years, you may want to close a bank account. The reasons for doing so vary from person to person. Varo Bank is a reliable institution. But if you keep your money there, you will want to know how to close a Varo account, in case you want to do so.

Closing a bank account is not complicated. But in the process, you need to make sure it’s done the right way. Especially to safeguard the money by sending it to or removing it from the account. In the case of Varo Bank, there are different ways to execute this procedure for the convenience of customers.

Varo Bank’s concept is to work to improve the future of banking for the benefit of customers. There is no fee for keeping the account open, even if you are not using it. Your credit report or profile will not be affected by multiple accounts. However, if you still want to close the account, you must follow a few steps.

How to cancel the Varo account

Varo Bank is a mobile-only neobank. In that sense, the company offers financial services through a mobile App. To cancel the Varo account, you must do it using only the platform on any device.

To learn how to close a Varo account, you need to understand that in this procedure, you should do it from the root. It is the only way to avoid the means the Varo developer uses to bill you. There is a very generalized process to terminate this account; it is really simple:

1. Open the email registered to the account.
2. Compose an email to the address [email protected].
3. You should write “Request to delete my account” in the Subject box
4. In your own words, write a text requesting the cancellation of the account from the bank’s database and the deletion of all personal information you have with them.

Since this bank works mostly from the mobile application, you can cancel your account by following a few steps depending on the device from which you connect.

Cancel Varo Bank account on Android

1. From the menu of your device, go to the Google Play Store application.
2. Log in with the corresponding email address. This is in case you have several Google accounts.
3. Tap the menu and then go to Subscriptions.
4. Tap on the Varo Bank: Mobile Banking subscription and tap the Cancel Subscription option.
5. The screen will display how the process is completed.

You will still receive notifications if you try to delete the Varo Bank app on an Android device. So it is important to follow the steps already explained so that future subscriptions are canceled and never renewed.

Cancel Varo account on iPhone or iPad

1. Open the Settings App and tap on your name.
2. Tap on the Subscriptions tab. If it does not appear automatically, locate and tap iTunes and Appstore.
3. Tap on your Apple ID. Sign in and scroll to the bottom of the menu until you reach the Subscriptions button.
4. Go to Varo Bank and tap Cancel. If you do not see the unsubscribe button for Varo, it will not renew, meaning it is already canceled.

Cancel Varo account on Mac computer

1. Open the Mac App Store and click on your name at the bottom of the sidebar.
2. Click on the View information tab at the top of the window. If necessary, log in.
3. Scroll down until you see the Subscriptions tab and click Manage.
4. Click the Edit option next to the Vero Bank: Mobile Banking application and select Cancel Subscription.

To close the Varo account from a Mac, log in with the username plus the same ID you used to set up the subscription. Be aware that this is sometimes different from the Apple ID.

Cancel Varo account on PayPal

1. Log in to your PayPal account from the web.
2. Click Settings.
3. Select Payments from the onscreen menu. Immediately click Manage Automatic Payments in the Automatic Payments panel.
4. The screen will display a series of agreements you have already transacted with. Select Varo Bank: Mobile Banking or Varo Money Inc to cancel the account.
5. A new page will appear requesting confirmation. Click on Cancel Automatic Payments to confirm that you no longer wish to make payments to Varo.
6. Complete the account cancellation by clicking Done on the verification page.

Reasons for closing a bank account

You do not need to explain why you decided to close your Varo account. However, some reasons are more common than others. Here are some causes that may push you to cancel a bank account:

• You decide to change city or state
• You changed banks for new services
• You will get better interest rates
• You want to eliminate bad customer service
• You are about to open a joint account
• The bank charges very high fees
• You have decided to consolidate your bank accounts

Regardless of the reason, evaluate the decision carefully to safeguard your finances. There are cases where the bank suggests explaining the reason for your decision to end the relationship. But you are not obligated to respond, and there is a possibility that it may try to prevent you from withdrawing.

How to protect your money when closing your Varo account

Before completing the Varo account closing, make sure you withdraw the funds. If you wish, you can spend or transfer them to a linked external account. You will want to move pre-authorized deposits and withdrawals to another account to take care of your finances, as this is the best way to protect the money in the account you want to close.

You can contact Varo Bank at any time. Use the different ways this company has to communicate with its customers: email or call center service at 1-877-377-8276 during business hours.

To have better communication, you can send a letter to Varo Bank, where you will formally write about the closing of the account. At the same time, you will receive a written response regarding the information received from the bank; once you make the notification procedures, execute the explained steps.

The most important thing when you decide to cancel the Varo account is that you withdraw all the money before completing the procedure in each device and prevent the entity from delaying the process through its developer, sending notifications, and making some invoices.