If you clicked on this post, you must have the question, why is Varo Advance Not Working. Don’t worry, as we will answer your question, keep reading.

Varo Advance is a credit feature launched by Varo Bank. If you have an account with Varo, you can use the Varo Advance feature to borrow money for a certain period. But sometimes, this feature does not work for many users. They have reported Varo Advance not working for them when trying to use it.

So, what is the issue? Why is it that even after having a Varo Bank account, some users cannot use the credit feature to borrow money from Varo to pay for their purchases or other usages? We searched the internet for the answers and read Varo Bank’s user manuals and articles about the Varo Advance feature.

After all the information collection, we wrote this article to help you find the issues’ problems and solutions. We have compiled a set of possible reasons why is the Varo Advance Not working and also detailed some solutions for the same. So please read ahead to understand more about the Varo Advance Not working and the solutions you can implement to solve the problem.

Why is Varo Advance Not Working

Varo Advance is a service given by Varo Bank to its users. The feature allows Varo bank users to borrow a sum of money from Varo for a certain period and repay it at once or in installments. This allows users to have flexible spending and need not worry about the money when they want to buy some goods and services.

But not all users can use the feature, and some users have reported Varo Advance not working for them. This can be caused by multiple reasons ranging from the Varo account status of the users to the technical errors of the Varo system.

We have compiled some possible reasons for the Varo Advance Not working issue and explained in detail how to solve them. But first, let’s understand why does Varo Advance feature does not work for some users.

Possible Reasons And Solutions For Varo Advance Not Working

Varo Advance Not Working

As already stated, whenever Varo Advance does not work, there can be various reasons. But the most common reasons we have identified in our research are:

1. Failed/Delayed Repayment Of Earlier Borrowing

Varo is a Banking service. It is a digital bank that is completely void of any physical expenses that need to be done by a physical bank. That, too, comes with multiple drawbacks. Just because you do not have to pay for physical offices and branches does not make you immune to fraud. So, Varo must ensure that any user it is lending money to will repay them.

This has led Varo to be strict about who will lend the money. So, if you have already failed to repay your previous Varo Advance credits, it will obviously deny any more lending. Even if your previous repayments are delayed, it will be difficult to get the Varo Advance money.

Varo strictly studies the user’s financial behavior before lending any money. The bank places an eligibility requirement to be able to use the Varo Advance feature. The user’s account history and credit history are checked when letting the user use the feature. So, if you have failed or delayed repayments, you will be restricted from using the feature. And you will face the Varo Advance feature not working for you.

After borrowing money from Varo, users need to repay it within the timeframe you loan it out for. Generally, you can set up an automatic deduction in installments for the borrowed money from your Varo account. But even if you opted out of the automatic deduction feature, you must pay it back within the next 30-day period.

Varo Advance will no longer work for you if you fail to repay the borrowed amount. This can be a possible reason for Varo Advance not working in some cases. So, make sure you pay the Varo Advance you borrowed before taking another Varo Advance.

2. You Are Not yet Eligible For Varo Advance

Varo places strict eligibility criteria in front of the users to avail of the Varo Advance service. Most users do not understand that you must be eligible for the Varo Advance service even after you sign up for Varo bank. You cannot simply create an account on Varo Bank and start using the Varo Advance service.

All users who want to use Varo Advance must meet the following eligibility criteria.

Varo Bank Account

You need to have an account with Varo Bank. The Varo Advance is a service given to Varo Bank users, so you need to have a Varo Bank account to use the Varo Advance feature.

Active Account

Your Varo Bank account needs to be active. If your Varo bank account is not active, restricted, or closed, you cannot use the Varo Advance feature and borrow money.

Month Old Account

Your Varo Bank Account Must be a month old. You cannot simply sign up for Varo Bank and start borrowing money; your account needs to be more than 30 days old.

$1000+ Deposit In Last Month

Your Varo Ban account must have received $1000+ funds in direct deposits in the last 30 days. You can make this deposit in your savings account or Varo Account.

Active Varo Debit Card

You need to have an active Varo Bank debit card. Then, you can activate the Varo Debit card, and instantly you will be eligible for Varo Advance.

Timely Payback

You need to pay back the borrowed money in the said timeframe. 

Once you are sure you fulfill all these eligibility requirements, you should only proceed to use the Varo Advance feature. If one or more o the requirements are not met, you will not qualify for the service and get Varo Advance not working issue.

3. Your Varo Account Is Restricted

As mentioned earlier, if you have a restricted account on Varo, then you may not be able to enjoy the Varo Advance feature. Therefore, if you are getting the Varo Advance not working error, you may want to check if your Varo Account is still functioning and not yet restricted. 

Varo analyzes all other factors along with the account’s status before letting a user borrow money from them. Therefore, multiple violations of Varo’s terms and conditions and not repaying the borrowed amount can lead to your Varo Account getting restricted.

Also, ensure your account has a continuous flow of transactions and deposits. Not having any transactions and no deposits in the last months will automatically disqualify you from using the Varo Advance feature.

Also, suppose you use your Varo Account for gambling, suspicious transactions, and other illegal activities. In that case, your account will surely get restricted by Varo, and you will face Varo Advance Not Working issue.

4. Your Varo Advance Limit Is Low

Even after you get qualified for Varo Advance, you may not be able to borrow a huge sum of money from the start. Users must build up a good credit history with Varo to increase their lending limit. 

Generally, a new Varo user can start by borrowing $20 from Varo using Varo Advance. However, the successful return of such credit will increase the borrowing limit. So, if Varo Advance Not Working for you, then your Varo Advance limit is already reached or is low. Varo updates the Varo Advance limit every month as the maximum lending timeframe is 30 days for any user.

So once you successfully repay the borrowed money within 30 days, your Varo Advance limit should increase monthly. Varo analyzes the user’s behavior on the platform to determine if the limit should be increased or decreased. If you fail to do according to how the agreement for the lending is done, Varo may choose to decrease your Varo Advance limit.

Before you ask, Varo considers a list of factors while evaluating your Varo Advance limit every month.

Varo Advance Payment History

The payment history on Varo is the main factor determining how much Varo will increase or decrease your Borrowing limit. Paying the previously borrowed amount within 30 days of borrowing should solve this issue for you.

Financial History

The financial behavior of a user on Varo is another indication. Varo analyzes the financial behavior, the amount a user is receiving/sending every month, and how much balance the account generally holds to determine the Varo Advance limit.

Frequent Payments

If a user tends to repay the amount within a short period, then he/she may be able to use a higher limit of Varo Advance.

Once you take care of the points mentioned above, you are good to use the Varo Advance feature. But if, in any case, you have not followed the rules, then Varo Advance will not work for you.

5. Technical Issues With Varo

If you are sure that all of the things mentioned in the above points are met, and you also qualify for the Varo Advance feature and are still getting the issue, the only possible reason is the technical errors. Since Varo is a computer system and it has its drawbacks.

Sometimes, the system itself faces issues that will prevent you from getting access to the Varo Advance feature. In this case, it is better to talk to Varo customer support and let them know about the issue.

You can also check if the Varo System is properly working or not by using a Down Detector tool you can find on the internet. 

Frequently Asked Questions (FAQs)

Some frequently asked questions related to Varo Advance Not working are taken from the internet.

1. What Are My Varo Repayment Options?

After you qualify for the Varo Advance feature, you can set up an automatic repayment schedule in which Varo will deduct the agreed amount in installments from your Varo account. You can also manually repay the amount from your Varo bank account. Or Varo will automatically deduct the amount from your bank account in the next 30 days.

2. What Happens If I Miss My Autopay Date?

An automatic repayment can be set up for the next 15 to 30 days, and when you fail to pay the amount within these days or your account lacks the fund, you will still have the full 30 days to pay it back. But it will surely hit your credibility and lower your credit limit next time.

3. How Often Can I Get A Varo Advance?

You can have only one advance at a time and only one daily, even if you’ve already paid it back. You can pay the borrowed amount and take another the next day.

Conclusion

Therefore, If you are facing Varo Advance Not Working, there can be various reasons for this. From your account status to the system errors, this article explains all the possible reasons and provides you with possible solutions.

Hope we answered your question and helped you resolve the issue.

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