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SwagBucks/MyPoints has another terrific (and very easy) digital bank account bonus. Varo Bank has increased their normal offer again and is awarding 12,000 Swagbucks ($120) or 20,000 MyPoints (~$125) on new account sign-ups if you make an opening deposit of just $25. You can even fund it with a debit card. I signed-up and funded the account in about 3 minutes when this was offered in April and received the points in 47 days. Varo is a digital bank whose services are provided by Bancorp, so everything is FDIC insured.
The Deal
- Earn 12,000 SwagBucks (worth $120) when clicking through the Swagbucks portal, opening a new Varo Bank account and making an initial deposit of $25 or more.
Direct link to offer (SwagBucks)
- Earn 20,000 SwagBucks (worth ~$125) when clicking through the Swagbucks portal, opening a new Varo Bank account and making an initial deposit of $25 or more.
Direct Link to Offer (MyPoints)
Terms and Conditions
(These are for MyPoints, Swagbucks is almost identical)
- Must complete the following steps (no hard pull):
- Must link a bank account and deposit $25 or more (can use debit card).
- Must use the same email address as your account when signing up.
- Your award may not Pend. Allow 45 days for award to appear in your account.
- Please allow up to 45 days after depositing for Points to be credited to your account.
- You must use the same email address associated with your MyPoints.com account when opening your account to earn Points.
- Must enter valid sign-up information, SSN, and account funding information to earn Points.
- Must be approved and fund at least $25 earn Points. Fundings under $25 are not eligible to earn Points.
- Offer may only be redeemed once (1) per user. This offer is presented to you by MyPoints on behalf of a third-party merchant or sponsor (“Merchant”).
- If you are not credited within 45 days of offer completion, you have 14 days to contact the MyPoints Help Center for further investigation. Help Center tickets submitted after the 14 day grace period are not eligible for further investigation and Points.
Quick Thoughts
I’ve been trying to be more disciplined about hitting bank account bonuses this year. This Varo bonus is one of the easiest around. I did this one myself in April (with Swagbucks) and am going to sign-up my wife via MyPoints this time.
$120ish for a $25 non-direct deposit is so simple. I funded the initial deposit with my Nearside debit card, hoping for 2.2% cashback on top of the $120, but it just coded as a transfer. Even though it allows you to fund with a debit card, I would still link a bank account, just to make sure you’re in compliance with the terms…and don’t close the Varo account until the SwagBucks/MyPoints are in yours.
I didn’t have any issues with my SB crediting, everything happened right on schedule without me having to open up any tickets.
This offer specifically says that the SB won’t show as pending, but it seems that sometimes it does for some folks. My SB points were awarded after 47 days even though it didn’t show as pending. Regardless, it’s good practice to set a calendar reminder at 50-55 days to remind yourself to check. While there are no monthly fees to worry about, you need to open a ticket within 14 days of the end of the 45-day period in the event that the bonus isn’t automatically awarded. As always, save screenshots of everything just in case.
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I completed the requirements above and Swagbucks did not credit my SBs. After contacting customer service they claim there is a requirement for $25 Varo debit card spend within 60 days of account opening. Anyone else had this experience?
I didn’t. Did you refer them back to the terms? It isn’t mentioned…I’d message them back with a screenshot of the terms and ask them where the $25 debit spend was mentioned.
I did that but they are still referring to a more recent offer which did require the $25 spend. They haven’t replied in 4 days now so I am losing hope. Any way to escalate this with SB?
No longer on MyPoints
Link from swagbucks to Varo no longer works.
It’s working when I click through. What happens when you do it?
Not sure what Frank saw, but I’m getting what might be a technical issue this morning:
Not FoundThe requested URL was not found on this server.
This is after you click through from SwagBucks and it tries to connect onward to Varo.
Hmmm…I’m at a loss. Whenver I click through, it works fine. It’s probably a SB issue that’s intermitent. Did you happen to reach out to SB support?
Didn’t work all day yesterday, nor this morning. This afternoon it started working. I didn’t change anything–same browser, no clearing of cache/cookies, nothing. Must have been something on SB and/or Varo side. Thanks!
Is there a way to pull this off if you already have a varo account?
Currently have one? No. I’m going to do some research post-cancellation, but I don’t imagine you’d have much luck if your Varo account is still live.
Player 2?