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Chime vs. Varo: Comparing Features, Fees and Benefits

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Here's a breakdown of Chime vs. Varo, two incredibly popular options for today's modern-day digital banking needs. Read on for more details:
The article from MSN compares Chime and Varo, two popular online banking platforms, focusing on their features, fees, and benefits. Chime offers no monthly fees, no minimum balance requirements, and early direct deposit, with features like a secured credit card to help build credit. It also provides a savings account with an automatic savings feature. Varo, on the other hand, also has no monthly fees or minimum balance, and it provides a high-yield savings account with competitive interest rates, along with early direct deposit. Varo's checking account includes a feature called Varo Believe, which can offer a high APY if certain conditions are met. Both banks offer overdraft protection, but Varo's is more flexible with its Varo Advance feature allowing cash advances. The choice between Chime and Varo might depend on whether one prioritizes credit-building tools (Chime) or higher savings yields and cash advance options (Varo).

Read the Full GOBankingRates Article at:
[ https://www.msn.com/en-us/money/personalfinance/chime-vs-varo-comparing-features-fees-and-benefits/ar-AA1AQRAE ]