Current vs Varo
By Itai Varochik | Updated 2026
Quick Verdict
Overall Winner: Current (4.1/5)
We tested Current and Varo side-by-side. Current comes out ahead overall, but Varo may be better for specific use cases.
Score Breakdown
| Criteria | Current | Varo |
|---|---|---|
| Features | 7/10 | 7/10 |
| Ease of Use | 8.5/10 | 8.5/10 |
| Value for Money | 8/10 | 8.5/10 |
| Customer Support | 6.5/10 | 6.5/10 |
| Overall | 7.5/10 | 7.6/10 |
Feature Comparison
| Feature | Current | Varo |
|---|---|---|
| Early Direct Deposit | Yes | No |
| Teen Banking | Yes | No |
| Cashback | Yes | No |
| High-Yield Savings | No | Yes |
| Credit Builder | No | Yes |
| No Fees | No | Yes |
Pricing Comparison
Current: Free / Premium $4.99/mo
Varo: Free (no monthly fees)
Current Pros & Cons
Pros
- Early direct deposit
- Cashback at merchants
- Teen banking accounts
- Fee-free overdraft
Cons
- Lower savings rates
- Limited ATM network
- Premium needed for best features
- Fewer banking products
Varo Pros & Cons
Pros
- Full bank charter
- High-yield savings
- No fees
- Credit builder tool
Cons
- Limited product range
- No joint accounts
- Basic app features
- Smaller ATM network
Key Specifications
| Spec | Current | Varo |
|---|---|---|
| Rating | 4.1/5 | 4/5 |
| Pricing | Free / Premium $4.99/mo | Free (no monthly fees) |
| Year Founded | 2015 | 2015 |
| Headquarters | New York, NY | San Francisco, CA |
Our Verdict
Current wins overall. Choose Current if you value Young adults. Choose Varo if you prioritize Savings-focused users.
Frequently Asked Questions
Is Current better than Varo?
Based on our testing, Current scores higher with a rating of 4.1/5 compared to Varo's 4/5. However, the best choice depends on your specific needs.
What is the main difference between Current and Varo?
Current is known for: Mobile banking platform with early direct deposit and cashback rewards.. Varo is known for: FDIC-insured neobank with high-yield savings and no-fee checking..
Which is cheaper, Current or Varo?
Current pricing: Free / Premium $4.99/mo. Varo pricing: Free (no monthly fees).
Can I use Current and Varo together?
While both tools serve similar purposes in the Digital Banks category, some users do use complementary features from both platforms.
What are the pros of Current?
Early direct deposit. Cashback at merchants. Teen banking accounts
What are the pros of Varo?
Full bank charter. High-yield savings. No fees
Which digital banks should I choose?
Choose Current if you value Young adults. Choose Varo if you prioritize Savings-focused users.