Fvcbank vs Varo Money
High-Yield Savings Accounts Comparison
Last Updated: September 5, 2025
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Summary of FVCbank vs. Varo Bank
As of September 5, 2025 FVCbank offers an APY of 4.35% for its Advantage Direct Savings account, with a minimum balance of $500, compared to Varo Bank's 5.00% APY for its High-Yield Savings Account, with a minimum balance of $0.01.
FVCbank yields $60 more than Varo Bank on a $10,000 balance after one year. FVCbank pays $435, while Varo Bank pays $375 (with an effective APY of 3.75%) - an APY advantage for FVCbank.
FVCbank
Strengths
- FVCbank offers a competitive APY of 4.35%, unchanged from 30 days ago.
- No maintenance fees on the Advantage Direct Savings account.
- FVCbank has an A+ BBB rating.
Potential Drawbacks
- FVCbank requires a minimum deposit and balance of $500.
- FVCbank has a lower App Store rating of 4.4 compared to Varo Bank.
- FVCbank does not offer a direct deposit option.
Varo Bank
Strengths
- Varo Bank provides a higher APY of 5.00% on its High-Yield Savings Account.
- Varo Bank has an excellent App Store rating of 4.9.
- Varo Bank is BBB Accredited with an A- rating.
Potential Drawbacks
- Varo Bank requires a minimum direct deposit of $1,000/month for the highest APY.
- Varo Bank's lower APY of 2.50% applies to amounts over $5,000.
- Varo Bank has no physical branches.
Summary: FVCbank's Advantage Direct Savings offers a 4.35% APY with no fees, but requires a $500 minimum deposit and lacks direct deposit options. In contrast, Varo Bank's High-Yield Savings Account features a higher 5.00% APY, but mandates a $1,000 monthly direct deposit and has no branches. Varo also boasts better App Store ratings and is BBB Accredited, while FVCbank has a superior BBB rating.
Compare FVCbank's vs Varo Bank's Savings Accounts
| FVCbank | Varo Bank | ||
|---|---|---|---|
| Product | Advantage Direct Savings | vs | High-Yield Savings Account |
| APY | 4.35% (as of 9/5/2025) | 2.50% - 5.00% (as of 9/5/2025) | |
| Bundled Account | No | No | |
| FDIC-insured | Yes | Yes | |
| Online Only | Yes | Yes | |
| Compound Frequency | N/A | Daily | |
| Minimum Deposit | $500 | $0 | |
| Minimum Balance for APY | $500 | $0.01 | |
| Maintenance Fee | $0 | $0 | |
| Direct Deposit Required | No | Yes. Min. $1,000/month | |
| Note | Earn 5.00% APY on up to $5,000 and 2.50% APY on the rest. Direct deposit required. | ||
| App Store Rating | 4.4/5 | 4.9/5 | |
| Google Play Rating | 3.4/5 | 4.7/5 | |
| BBB Rating | A+ | A- |
Comparative Historical APY Insights (Last 6 Months)
| FVCbank | Varo Bank | ||
|---|---|---|---|
| Product | Advantage Direct Savings | vs | High-Yield Savings Account |
| Latest APY | 4.35 % | 5.00 % | |
| Trend | Sideways | Sideways | |
| Slope (bps/mo) | -4.6 | 0.0 | |
| Rate Changes / Mo | 0.71 | 0.00 | |
| Days Since Last Change | 42 | 169 | |
| High (-6 m) | 4.55 % | 5.00 % | |
| Low (-6 m) | 4.35 % | 5.00 % | |
| Draw-down from High | -4.4 % | 0.0 % | |
| Volatility (CV) | 0.019 | 0.000 |
APY Insights Glossary
- Latest APY
- Most recent advertised annual-percentage yield.
- Trend
- Direction over the last 6 months (regression slope).
- Slope (bps/mo)
- Average monthly change; 10 bps = 0.10 pp.
- Rate Changes / Mo
- Typical number of APY moves per month.
- Days Since Last Change
- Recency of the latest APY adjustment.
- High (-6 m)
- Highest APY in the last 170 days.
- Low (-6 m)
- Lowest APY in the last 170 days.
- Draw-down from High
- How far today sits below the 6-month peak.
- Volatility (CV)
- Coefficient of variation = stdev ÷ mean.
Why Track Savings-Account APYs?
- See how quickly a bank reacts to Fed moves or competition.
- Gauge “twitchiness” - frequent moves can annoy savers.
- Spot if you're buying near a peak (draw-down) or riding a rise.
- Slope (bps/mo) shows speed of change.
- Volatility (CV) scales jumps by average level.
Calculate Savings Growth for FVCbank vs Varo Bank
All calculations are based on APY.
FVCbank
APY: 4.35%
Total savings breakdown:
- Interest earned: $2,662 (12.88%)
- Total contributions: $13,000 (62.92%)
- Initial deposit: $5,000 (24.20%)
Your total balance
$20,662.00
Effective APY: 4.35% (based on your deposit and contributions)
Total balance: $20,662
Earnings: $2,662
Bank OverviewVaro Bank
APY: 5.00%
ℹ️You earn 5.00% on the first $5,000 and 2.50% on the rest.
Total savings breakdown:
- Interest earned: $2,211.4 (10.94%)
- Total contributions: $13,000 (64.32%)
- Initial deposit: $5,000 (24.74%)
Your total balance
$20,211.40
Effective APY: 3.65% (based on your deposit and contributions)
Total balance: $20,211.4
Earnings: $2,211.4
Bank OverviewWith a $5,000 initial deposit and $13,000 in total contributions over 5 years, FVCbank's total earnings would be $450.6 higher than Varo Bank's total earnings.
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
More Comparisons
Compare FVCbank's APY of 4.35% with other banks
| Bank Pair | Competitor APY | Min Deposit |
|---|---|---|
| FVCbank vs Ally Bank | 3.50% | $0 |
| FVCbank vs American Express | 3.50% | $0 |
| FVCbank vs Axos Bank | 4.46% | $0 |
| FVCbank vs Bank of America | 0.01% | $100 |
| FVCbank vs Barclays | 4.10% | $0 |
| FVCbank vs BrioDirect | 4.30% | $5,000 |
| FVCbank vs Capital One | 3.50% | $0 |
| FVCbank vs Chase Bank | 0.01% | $0 |
| FVCbank vs Chime | 3.75% | $0 |
| FVCbank vs CIT Bank | 4.00% | $100 |
| FVCbank vs Discover Bank | 3.50% | $0 |
| FVCbank vs Elevault | 4.60% | $0 |
| FVCbank vs EverBank | 4.30% | $0 |
| FVCbank vs Fitness Bank | 4.75% | $100 |
| FVCbank vs GO2bank | 4.50% | $0 |
| FVCbank vs Marcus by Goldman Sachs | 3.65% | $0 |
| FVCbank vs Neighbors Bank | 4.60% | $0 |
| FVCbank vs Newtek Bank | 4.35% | $0 |
| FVCbank vs Peak Bank | 4.35% | $100 |
| FVCbank vs Pibank | 4.60% | $0 |
| FVCbank vs Presidential Bank | 4.50% | $5,000 |
| FVCbank vs Santander Bank | 0.03% | $25 |
| FVCbank vs SoFi Bank | 3.80% | $0 |
| FVCbank vs Synchrony Bank | 3.80% | $0 |
| FVCbank vs TIMBR | 4.40% | $1,000 |
| FVCbank vs UFB Direct | 4.21% | $5000 |
| FVCbank vs Wells Fargo | 2.51% | $25 |
| FVCbank vs Zynlo Bank | 4.35% | $10 |
Compare Varo Bank's APY of 5.00% with other banks
| Bank Pair | Competitor APY | Min Deposit |
|---|---|---|
| Varo Bank vs Ally Bank | 3.50% | $0 |
| Varo Bank vs American Express | 3.50% | $0 |
| Varo Bank vs Axos Bank | 4.46% | $0 |
| Varo Bank vs Bank of America | 0.01% | $100 |
| Varo Bank vs Barclays | 4.10% | $0 |
| Varo Bank vs BrioDirect | 4.30% | $5,000 |
| Varo Bank vs Capital One | 3.50% | $0 |
| Varo Bank vs Chase Bank | 0.01% | $0 |
| Varo Bank vs Chime | 3.75% | $0 |
| Varo Bank vs CIT Bank | 4.00% | $100 |
| Varo Bank vs Discover Bank | 3.50% | $0 |
| Varo Bank vs Elevault | 4.60% | $0 |
| Varo Bank vs EverBank | 4.30% | $0 |
| Varo Bank vs Fitness Bank | 4.75% | $100 |
| Varo Bank vs GO2bank | 4.50% | $0 |
| Varo Bank vs Marcus by Goldman Sachs | 3.65% | $0 |
| Varo Bank vs Neighbors Bank | 4.60% | $0 |
| Varo Bank vs Newtek Bank | 4.35% | $0 |
| Varo Bank vs Peak Bank | 4.35% | $100 |
| Varo Bank vs Pibank | 4.60% | $0 |
| Varo Bank vs Presidential Bank | 4.50% | $5,000 |
| Varo Bank vs Santander Bank | 0.03% | $25 |
| Varo Bank vs SoFi Bank | 3.80% | $0 |
| Varo Bank vs Synchrony Bank | 3.80% | $0 |
| Varo Bank vs TIMBR | 4.40% | $1,000 |
| Varo Bank vs UFB Direct | 4.21% | $5000 |
| Varo Bank vs Wells Fargo | 2.51% | $25 |
| Varo Bank vs Zynlo Bank | 4.35% | $10 |