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SoFi vs Varo checking

SoFi and Varo checking side by side: fees, minimums, interest, ATMs and overdraft.

APY

SoFi: 0.50% APY on checking balances, no minimum
Varo: No checking APY stated

Monthly fee

SoFi: $0
Varo: $0

Min to open

SoFi: $0
Varo: $0

Min balance

SoFi: $0
Varo: $0

ATMs

SoFi: 55,000+ fee-free Allpoint ATMs
Varo: 40,000+ fee-free in-network ATMs; out-of-network fees apply

Overdraft

SoFi: No overdraft fees; coverage up to $50 with $1,000+ monthly direct deposit
Varo: No overdraft fees

Sources: SoFi, Varo (2026-10-12).

More rates

• CD rates
• Money market rates
• Checking accounts
• Savings rates
• Savings Index & rate history
• Am I overpaying?

FAQ

Which pays more interest on checking, SoFi or Varo?

SoFi has the higher stated top-tier APY as of 2026-10-12.

Where do these rates come from?

Each rate is read from the bank's own public page on the date shown and linked. Rates change often: confirm on the bank's site before opening. Not financial advice.

Estimates, not financial advice. Taxes, insurance, PMI and fees vary by lender, county and city; confirm with your lender, dealer and state agency before acting.