$50 dollars once you open an account with Varo online bank and spend $20 dollars. (20 minute job) 1. Open free Varo account: $20 within 30 days of opening new Bank Account. 3. Receive a bonus of $50 dollars within 3-4 days Opening an account with Varo is completely free, and safe. The Varo Bank Savings Account was named Best Overall Savings Account on Forbes Advisor’s Best Online Savings Accounts Of 2022. The Varo Bank Account also earned a spot among the Best Checking Accounts Of 2022. [Read bellow] Varo's online checking account—known as the Varo Bank Account—doesn't charge monthly maintenance fees, and you don't need to keep a minimum balance in your account. A government-issued I.D. and Social Security number are required for sign-up, but no minimum deposit is required to open your account.