Pibank vs. Varo Money
High-Yield Savings Account Comparison
By Aviel Fahl|Last Updated: October 21, 2025
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Summary of Pibank vs. Varo Bank
Key Metrics at a Glance
| Feature | Pibank | Varo Bank |
|---|---|---|
| Top Savings APY | 4.60% Pibank Savings | 5.00% High-Yield Savings Account |
| Minimum to Open | $0 | $0 |
| Minimum Balance for Top APY | $0.01 | $0.01 |
| Note | Earn 5.00% APY on up to $5,000 and 2.50% APY on the rest. Direct deposit required. |
Pibank
Strengths
- Pibank offers a competitive APY of 4.60% with no maintenance fees.
- Pibank has no direct deposit requirement for its savings account.
- Pibank's current APY remains unchanged from 30 days ago.
Potential Drawbacks
- Pibank has low App Store and Google Play ratings of 2.4 and 1.7, respectively.
- Pibank is not BBB Accredited, holding only an A rating.
Varo Bank
Strengths
- Varo Bank provides a higher APY of 5.00% for its High-Yield Savings Account.
- Varo Bank is BBB Accredited with an A- rating, indicating higher trustworthiness.
- Varo Bank enjoys high App Store and Google Play ratings of 4.9 and 4.6.
Potential Drawbacks
- Varo Bank requires a direct deposit of $1,000/month to earn the listed APY.
- The APY drops to 2.50% on balances exceeding $5,000.
Summary: Pibank offers a solid APY of 4.60% with no direct deposit requirement, but lacks BBB accreditation and has low app ratings. In contrast, Varo Bank provides a higher APY of 5.00%, is BBB Accredited, and has excellent app ratings, although it requires a $1,000 monthly direct deposit to achieve this rate. Users should weigh the importance of these factors based on their preferences.
→ As of October 21, 2025 Pibank offers an APY of 4.60% for its Pibank Savings account, with a minimum balance of $0.01, compared to Varo Bank's 5.00% APY for its High-Yield Savings Account, with a minimum balance of $0.01.
→ Pibank yields $85 more than Varo Bank on a $10,000 balance after one year. Pibank pays $460, while Varo Bank pays $375 (with an effective APY of 3.75%) - an APY advantage for Pibank.
Calculate Savings Growth for Pibank vs Varo Bank
All calculations are based on APY.
Pibank - Pibank Savings
Top APY: 4.60%
Total savings breakdown:
- Interest earned: $2,825.8 (13.57%)
- Total contributions: $13,000 (62.42%)
- Initial deposit: $5,000 (24.01%)
Your total balance
$20,825.80
Effective APY: 4.60% (based on your deposit and contributions)
Total balance: $20,825.8
Earnings: $2,825.8
Bank OverviewVaro Bank - High-Yield Savings Account
Top 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, Pibank's total earnings would be $614.4 higher than Varo Bank's total earnings.
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
Compare Pibank's vs Varo Bank's Savings Accounts
| Pibank | Varo Bank | ||
|---|---|---|---|
| Product | Pibank Savings | vs | High-Yield Savings Account |
| APY | 4.60% (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 | Daily | Daily | |
| Minimum Deposit | $0 | $0 | |
| Minimum Balance for APY | $0.01 | $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 | 2.4/5 | 4.9/5 | |
| Google Play Rating | 1.7/5 | 4.6/5 | |
| BBB Rating | A | A- |
Comparative Historical APY Insights (Last 8 Months)
| Pibank | Varo Bank | ||
|---|---|---|---|
| Product | Pibank Savings | vs | High-Yield Savings Account |
| Latest APY | 4.60 % | 5.00 % | |
| Trend | Sideways | Sideways | |
| Slope (bps/mo) | -0.0 | 0.0 | |
| Rate Changes / Mo | 0.00 | 0.00 | |
| Days Since Last Change | 249 | 244 | |
| High (-8 m) | 4.60 % | 5.00 % | |
| Low (-8 m) | 4.60 % | 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 8 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 (-8 m)
- Highest APY in the last 250 days.
- Low (-8 m)
- Lowest APY in the last 250 days.
- Draw-down from High
- How far today sits below the 8-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.
More Comparisons
Compare Pibank's APY of 4.60% with other banks
| Bank Pair | Competitor APY | Min Deposit |
|---|---|---|
| Pibank vs Ally Bank | 3.40% | $0 |
| Pibank vs American Express | 3.50% | $0 |
| Pibank vs Axos Bank | 4.51% | $0 |
| Pibank vs Bank of America | 0.01% | $100 |
| Pibank vs Barclays | 4.10% | $0 |
| Pibank vs Bask Bank | 4.05% | $0 |
| Pibank vs BrioDirect | 4.20% | $5,000 |
| Pibank vs Capital One | 3.40% | $0 |
| Pibank vs Chase Bank | 0.01% | $0 |
| Pibank vs Chime | 3.50% | $0 |
| Pibank vs CIT Bank | 3.85% | $100 |
| Pibank vs Citizens Access™ | 3.50% | $0.01 |
| Pibank vs Discover Bank | 3.40% | $0 |
| Pibank vs Elevault | 4.34% | $0 |
| Pibank vs EverBank | 4.05% | $0 |
| Pibank vs Fitness Bank | 4.75% | $100 |
| Pibank vs FNBO Direct | 3.00% | $1 |
| Pibank vs FVCbank | 4.10% | $500 |
| Pibank vs GO2bank | 4.50% | $0 |
| Pibank vs LendingClub | 4.20% | $0 |
| Pibank vs Marcus by Goldman Sachs | 3.65% | $0 |
| Pibank vs Neighbors Bank | 4.50% | $0 |
| Pibank vs Newtek Bank | 4.35% | $0 |
| Pibank vs Peak Bank | 4.20% | $100 |
| Pibank vs Presidential Bank | 4.50% | $5,000 |
| Pibank vs Santander Bank | 0.01% | $25 |
| Pibank vs SoFi Bank | 4.50% | $0 |
| Pibank vs Synchrony Bank | 3.80% | $0 |
| Pibank vs TIMBR | 4.40% | $1,000 |
| Pibank vs UFB Direct | 3.96% | $5000 |
| Pibank vs Valley Direct | 4.10% | $1,000 |
| Pibank vs Wells Fargo | 0.05% | $25 |
| Pibank vs Zynlo Bank | 4.20% | $10 |