Go2bank vs. Varo Money
High-Yield Savings Account Comparison
By Aviel Fahl|Last Updated: October 21, 2025
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Summary of GO2bank vs. Varo Bank
Key Metrics at a Glance
| Feature | GO2bank | Varo Bank |
|---|---|---|
| Top Savings APY | 4.50% High Yield Savings | 5.00% High-Yield Savings Account |
| Minimum to Open | $0 | $0 |
| Minimum Balance for Top APY | $0 | $0.01 |
| Note | The 4.50% APY is up to 5,000. Balances above that earn no interest. | Earn 5.00% APY on up to $5,000 and 2.50% APY on the rest. Direct deposit required. |
GO2bank
Strengths
- GO2bank offers a competitive APY of 4.50% with no minimum balance requirement.
- There are no maintenance fees if direct deposit is set up with GO2bank.
- GO2bank has a strong App Store rating of 4.8.
Potential Drawbacks
- GO2bank is not BBB accredited and has no BBB rating.
- GO2bank's APY is lower than Varo Bank's 5.00%.
- GO2bank charges a $5 monthly maintenance fee without direct deposit.
Varo Bank
Strengths
- Varo Bank has a higher APY of 5.00% on its high-yield savings account.
- Varo Bank is BBB accredited with an A- rating.
- Varo Bank has no maintenance fees for its savings account.
Potential Drawbacks
- Varo Bank requires a minimum direct deposit of $1,000/month to earn the highest APY.
- Varo Bank's APY on balances above $5,000 drops to 2.50%.
- Varo Bank has a minimum balance requirement of $0.01.
→ As of October 21, 2025 GO2bank offers an APY of 4.50% for its High Yield Savings account, with a minimum balance of $0, compared to Varo Bank's 5.00% APY for its High-Yield Savings Account, with a minimum balance of $0.01.
→ Varo Bank yields $150 more than GO2bank on a $10,000 balance after one year. GO2bank pays $225 (with an effective APY of 2.25%), while Varo Bank pays $375 (with an effective APY of 3.75%) - an APY advantage for Varo Bank.
Calculate Savings Growth for GO2bank vs Varo Bank
GO2bank - High Yield Savings
ℹ️You earn 4.50% on the first $5,000 and 0.00% on the rest.
Total savings breakdown:
- Interest earned: $1,230.9 (6.40%)
- Total contributions: $13,000 (67.60%)
- Initial deposit: $5,000 (26.00%)
Your total balance
$19,230.90
Total balance: $19,230.9
Earnings: $1,230.9
Bank OverviewVaro Bank - High-Yield Savings Account
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
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, GO2bank's total earnings would be $980.5 lower than Varo Bank's total earnings.
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
Compare GO2bank's vs Varo Bank's Savings Accounts
| GO2bank | Varo Bank | ||
|---|---|---|---|
| Product | High Yield Savings | vs | High-Yield Savings Account |
| APY | 0.00% - 4.50% (as of 10/21/2025) | 2.50% - 5.00% (as of 10/21/2025) | |
| Bundled Account | No | No | |
| FDIC-insured | Yes | Yes | |
| Online Only | Yes | Yes | |
| Compound Frequency | Quarterly | Daily | |
| Minimum Deposit | $0 | $0 | |
| Minimum Balance for APY | $0 | $0.01 | |
| Maintenance Fee | $5 per month, unless you set up direct deposit | $0 | |
| Direct Deposit Required | No | Yes. Min. $1,000/month | |
| Note | The 4.50% APY is up to 5,000. Balances above that earn no interest. | Earn 5.00% APY on up to $5,000 and 2.50% APY on the rest. Direct deposit required. | |
| App Store Rating | 4.8/5 | 4.9/5 | |
| Google Play Rating | 4.6/5 | 4.6/5 | |
| BBB Rating | Not Rated | A- |
Comparative Historical APY Insights (Last 3 Months)
| GO2bank | Varo Bank | ||
|---|---|---|---|
| Product | High Yield Savings | vs | High-Yield Savings Account |
| Latest APY | 4.50 % | 5.00 % | |
| Trend | Sideways | Sideways | |
| Slope (bps/mo) | 0.0 | 0.0 | |
| Rate Changes / Mo | 0.00 | 0.00 | |
| Days Since Last Change | 76 | 76 | |
| High (-3 m) | 4.50 % | 5.00 % | |
| Low (-3 m) | 4.50 % | 5.00 % | |
| Draw-down from High | 0.0 % | 0.0 % | |
| Volatility (CV) | 0.000 | 0.000 |
APY Insights Glossary
- Latest APY
- Most recent advertised annual-percentage yield.
- Trend
- Direction over the last 3 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 (-3 m)
- Highest APY in the last 77 days.
- Low (-3 m)
- Lowest APY in the last 77 days.
- Draw-down from High
- How far today sits below the 3-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.