Varo Money vs Bank Zero.
Varo Money (V82/100) and Bank Zero (B50/100), 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 Bank Zero 6-0.
| B Bank Zero №75 · SARB 50 /100 | V Varo Money №04 · OCC 82 /100 | |
|---|---|---|
| Score | ||
| Composite score Out of 100 | 50 /100 | 82 /100 |
| Fees | ||
| Monthly fee Cheapest paid tier (€0 if free) | €0 Free tier | €0 Free tier |
| FX markup Debit card abroad | 2.00% | Interbank |
| Free FX / month EUR equivalent | €0 | €0 |
| Free ATM Before fee kicks in | — | — |
| Protection | ||
| Banking licence Tier | Payment inst. SARB | Full bank OCC |
| Deposit guarantee Per depositor | Safeguarded ZA.CODI | $250,000 US.FDIC |
| Reach | ||
| Markets served Licensed jurisdictions | 1 country | 1 country |
| Crypto Coins available | No | No |
| Stocks & ETFs Self-directed | No | No |
| UX | ||
| Trustpilot Customer score | — | 4.2 ★ 8k reviews |
| App store iOS + Android avg | 4.5 ★ iOS 4.5 · And 4.4 | 4.6 ★ iOS 4.7 · And 4.5 |
| Read review → | Read review → | |
Pick Bank Zero if…
South Africa's first fully-digital mutual bank — SARB-licensed since 2018, operationally live since 2021. Founded by ex-FNB executives (Yatin Narsai, Michael Jordaan). Owner-operator model: no shareholders, profits flow back to depositors via lower fees and competitive sub-account interest. The fee-free counterpart to Discovery Bank's premium tier-based model.
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 1 of 4
- Best for protection Varo Money won 2 of 2
- Best for reach Tied
- Best for ux Varo Money won 2 of 2
Varo Money vs Bank Zero — FAQ
Quick answers to the four questions the search-bar asks most about a head-to-head.
Is Bank Zero better than Varo Money?
Under our v3 methodology, Varo Money leads Bank Zero 6–0 across 12 dimensions. Composite scores: Bank Zero 50/100 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 Bank Zero or Varo Money cheaper?
Monthly fee — Bank Zero: €0; Varo Money: €0. Card FX markup — Bank Zero: 2.00%; Varo Money: Interbank. Varo Money wins more fee rows (1 of 4). See the Fees section of the matrix above for ATM caps and the rest.
Which is safer for deposits, Bank Zero or Varo Money?
Bank Zero holds a Payment inst. licence under SARB; 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 Bank Zero and Varo Money?
Bank Zero operates in 1 country; 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.