Varo Money vs Holvi.
Varo Money (V82/100) and Holvi (H55/100), scored on the same six pillars and compared row-by-row. Every cell is sourced from licence registers and live pricing pages, not opinion. Varo Money leads Holvi 7-1.
| H Holvi №61 · Holvi Payment Services Oy is authorised and regulated by the Finnish Financial Supervisory Authority 55 /100 | V Varo Money №04 · OCC 82 /100 | |
|---|---|---|
| Score | ||
| Composite score Out of 100 | 55 /100 | 82 /100 |
| Fees | ||
| Monthly fee Cheapest paid tier (€0 if free) | €9 /mo | €0 Free tier |
| FX markup Debit card abroad | 1.00% | Interbank |
| Free FX / month EUR equivalent | €0 | €0 |
| Free ATM Before fee kicks in | — | — |
| Protection | ||
| Banking licence Tier | E-money inst. | Full bank OCC |
| Deposit guarantee Per depositor | Safeguarded No DGS | $250,000 US.FDIC |
| Reach | ||
| Markets served Licensed jurisdictions | 2 countries | 1 country |
| Crypto Coins available | No | No |
| Stocks & ETFs Self-directed | No | No |
| UX | ||
| Trustpilot Customer score | 4.0 ★ 1k reviews | 4.2 ★ 8k reviews |
| App store iOS + Android avg | 4.3 ★ iOS 4.5 · And 4.2 | 4.6 ★ iOS 4.7 · And 4.5 |
| Read review → | Read review → | |
Pick Holvi if…
The Finnish + German SMB neobank with the deepest tax-return-ready bookkeeping integration in the Nordic + DACH region. Procountor (FI Steuerberater equivalent) + DATEV / Lexoffice (DE Steuerberater standards) integration depth is the structural differentiator versus Qonto / Finom. EMI-licensed under FIN-FSA; one of the longest-operating EU SMB neobanks (founded 2011, briefly BBVA-owned 2016-2022, now independent).
Pick Varo Money if…
First US neobank to receive an OCC national bank charter (July 2020). Direct FDIC member — your money sits at Varo Bank, N.A., not a sponsor. Headline 5.00% APY savings rate on the first $5K with direct deposit — among the highest in the US neobank market.
- Best for fees Varo Money won 2 of 4
- Best for protection Varo Money won 2 of 2
- Best for reach Holvi won 1 of 3
- Best for ux Varo Money won 2 of 2
Varo Money vs Holvi — FAQ
Quick answers to the four questions the search-bar asks most about a head-to-head.
Is Holvi better than Varo Money?
Under our v3 methodology, Varo Money leads Holvi 7–1 across 12 dimensions. Composite scores: Holvi 55/100 vs Varo Money 82/100. Varo Money is stronger overall, but the right pick depends on which row matters most to you — fees, protection, reach, or app quality.
Is Holvi or Varo Money cheaper?
Monthly fee — Holvi: €9; Varo Money: €0. Card FX markup — Holvi: 1.00%; Varo Money: Interbank. Varo Money wins more fee rows (2 of 4). See the Fees section of the matrix above for ATM caps and the rest.
Which is safer for deposits, Holvi or Varo Money?
Holvi holds a E-money inst. licence under Holvi Payment Services Oy is authorised and regulated by the Finnish Financial Supervisory Authority (FIN-FSA) as an Electronic Money Institution. Operating in Germany under EU PSD2 passporting. Customer funds are safeguarded under EMI rules — held in segregated accounts at credit institutions — and are NOT covered by the EU Deposit Guarantee Scheme (DGS, €100K ceiling) which applies to credit-institution licensees only. Holvi was acquired by BBVA in 2016 and operated as BBVA's Finnish SMB neobank arm until 2022, when it was sold back to independent ownership. Verified 2026-05.; deposit guarantee per depositor: Safeguarded. Varo Money holds a Full bank licence under OCC; deposit guarantee per depositor: $250,000. Varo Money is the stronger pick on regulatory protection.
Where can I use Holvi and Varo Money?
Holvi operates in 2 countries; Varo Money operates in 1 country. Check each provider's signup page for the live country list — eligibility depends on residency, not just the licence footprint.
Want a 3- or 4-way comparison?
The dynamic compare picker handles up to four banks. Add this pair plus one or two more and we'll resolve every row.