Update: Reader Sonu noticed that MyPoints has increased their Varo payout to 20,000 MyPoints or $125 when cashed out via PayPal. The link to the MyPoints deal is here.
Evidently there’s a lot of venture capital swirling around because SwagBucks has another terrific digital bank account bonus. Varo Bank has increased their normal offer and is awarding 12,000 Swagbucks ($120) 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. 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 landing page)
Key Terms
- Must complete the following steps (no hard pull):
- Must link a bank account and deposit $25 or more.
- Must use the same email address as your account when signing up.
- Your award will not Pend. Allow 45 days for award to appear in your account.
- Terms which are applicable:
- *SB will not pend.
- Please allow up to 45 days after completing the transaction for SB to be credited to your account.
- Must create a Varo Bank account through the Swagbucks affiliate link.
- Offer only valid to new Varo Bank users.
- If you’ve previously installed the Varo Bank App you are ineligible for this promotion.
- You must use the same email address associated with your Swagbucks.com account when opening your account to earn SB.
- Must enter valid sign-up information, SSN, and account funding information to earn SB.
- Must be approved and fund at least $25 to earn SB. Fundings under $25 are not eligible to earn SB.
- Offer may only be redeemed once (1) per user.
- If you are not credited within 45 days of offer completion, you have 14 days to contact the Swagbucks Help Center for further investigation. Help Center tickets submitted after the 14 day grace period are not eligible for further investigation and SB.
Quick Thoughts
Wow. This one is easy like a Sunday morning. $120 for a $25 non-direct deposit is as easy as they come. I’m not certain how it will code, but I funded the initial deposit with my Nearside debit card, hoping for 2.2% cashback on top of the $120. 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 are in yours.
This offer specifically says that the SB won’t show as pending, but will be awarded after 45 days. Make sure you set a calendar reminder. There are no monthly fees to worry about, but 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 (which I suspect it might not be). Save screenshots of everything just in case.
This joins the growing list of Swagbucks bank app offers that we’ve seen (Investr, Public, Chime and SoFi, just to name a few). I’ve been doing more and more of these…the money is just so easy.
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Anyway to stack with a refferal?
Not sure. I played around with clicking through and then changing to the referral link…seemed like it could be possible, but no guarantee it would track.
I setup my account and linked my Citizens Bank checking account. Tried to transfer $25 and it says “$0.00 Available to transfer.
Your money will be available in 3-4 business days.”
Yes, I believe the only way to transfer instantly is with a debit card transfer, otherwise it takes a couple of days.
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its worth mentioning mypoints have a slightly better deal with 20k mypoints and i have better experience with MP over swagbucks
Yes, good addition (although all I see is a 13,000 Mypoints offer, is there a 14,000 out there?)
I almost never do MyPoints when they’re close to Swagbucks, because I like being able to cash out to PayPal. But I know lots of folks love MyPoints, thanks for adding that!
No there is a 20k offer.see the link below
Explore Great Point-earning Opportunities (mypoints.com)
Lol no0b, you can cash out MYP to PayPal too
Should have clarified. Yes, you can, but not at 1-1 like SwagBucks. Last I saw, it was 1.6-1…sometimes the points work out (like this deal, MyPoints gets you $5 more), but oftentimes, I find SB is better IF you are going to cash out.