One of Allpoint’s first fintech members, Varo continues to power surcharge-free cash access through membership in Allpoint Network
HOUSTON, Oct. 17, 2019 (GLOBE NEWSWIRE) -- Varo Money, a pioneering mobile banking company dedicated to making banking easy and transparent, extended its Allpoint Network membership, ensuring Varo’s customers continue to enjoy convenient access to surcharge-free cash withdrawals at 55,000 Allpoint ATMs worldwide. Since 2015, Varo has been challenging traditional banks by providing consumers with a compelling app-based banking platform that provides a full checking account without the fees.
As a mobile-first fintech firm, Varo is providing consumers with tremendous flexibility and value in banking and money management, leveraging a class-leading mobile experience with the cost advantages afforded by a branchless design. However, Varo understands its customers have a need for a physical cash connection. Allpoint has been the answer to Varo’s physical infrastructure, enabling its customers to withdraw cash from their online accounts at convenient locations across the United States.
Allpoint Network, the largest retail-based surcharge-free ATM network in the world, provides fintech firms and banks with ubiquitous cash access at many of the best known retail stores in the country and around the world. Allpoint solves the cash-access challenge faced by every financial firm with high-quality, secure ATMs available in many of the pharmacy, grocery, convenience and big-box locations where consumers shop every day.
“Varo’s vision has been to build a mobile-centric bank account that makes smart money management easy, cost-effective and totally transparent,” said Colin Walsh, CEO of Varo Money. “Our partnership with Cardtronics and its Allpoint Network gives us the ability to focus on building the world’s best mobile banking experience while knowing our customers will have the best fee-free cash access experience.”
“To successfully challenge the status quo of traditional banking, Varo has built a forward-thinking mobile-first banking platform that doesn’t leave its customers wanting for physical access, thanks to Allpoint, even though Varo has no branches or ATMs of its own,” said Brian Bailey, Cardtronics EVP and North America Managing Director. “The Allpoint Network is becoming a critical component of the total service offering for fintech firms like Varo, who understand that a great banking experience requires a powerful cash access infrastructure.”
About Varo Money
Varo Money, Inc. (“Varo”) is on a mission to help people make progress with their financial lives. In one mobile app, Varo offers customers no-cost premium bank accounts, high-interest savings accounts, and tech-first features to help people save and manage their money more easily. Bank account services are provided by The Bancorp Bank; Member FDIC. As a fintech leader, Varo has been granted preliminary approval for a de novo national bank charter by the Office of the Comptroller of the Currency (OCC), and is working to become the first mobile-centric national bank in U.S. history. Varo Personal Loans are offered by Varo Money, Inc., under state licenses, subject to application approval. For more information, visit www.nofeeoverdraft.com or www.varomoney.com, like Varo on Facebook, and follow us on Instagram and Twitter @varomoney.
About Cardtronics (Nasdaq: CATM)
Cardtronics is the trusted leader in financial self-service, enabling cash transactions at approximately 290,000 ATMs across 10 countries in North America, Europe, Asia-Pacific, and Africa. Leveraging our unmatched scale, expertise and innovation, top-tier merchants and businesses of all sizes use our ATM solutions to drive growth, in-store traffic, and retail transactions. Financial services providers rely on Cardtronics to deliver superior service at their own ATMs, on Cardtronics ATMs where they place their brand, and through Cardtronics' Allpoint Network, the world’s largest surcharge-free ATM network, with over 55,000 locations. As champions of cash, Cardtronics converts digital currency into physical cash, driving payments choice for businesses and consumers alike.
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Source: Cardtronics USA, Inc.