Varo Bank Routing Number - The First Fintech With Its Own Bank Charter

What makes Varo different

Varo Bank's routing number is 091311229. Unlike most fintech routing numbers, this one belongs to Varo itself. In July 2020, the Office of the Comptroller of the Currency granted Varo a national bank charter — making it the first consumer fintech in American history to receive one. Routing number 091311229 is registered to Varo Bank, N.A. directly in the Federal Reserve's routing directory. The 091 prefix indicates it processes through the Federal Reserve Bank of Minneapolis.

Before the charter, Varo operated like most fintechs — partnering with The Bancorp Bank to hold deposits and provide regulatory infrastructure. Technically, Varo customers were Bancorp customers. The charter changed that: Varo now holds deposits on its own balance sheet, manages its own FDIC insurance, and issues its own routing number.

What a de novo charter actually means

A de novo bank is a newly chartered institution built from scratch rather than acquired. Getting one from the OCC is notoriously difficult. Varo's application took over three years and required demonstrating adequate capitalization, a viable business plan, compliance infrastructure, and the ability to meet Community Reinvestment Act obligations. The previous de novo charter had been granted in 2009.

For customers, it means deposits are insured by the FDIC under Varo's name — not a partner bank's.

The account migration

When Varo moved customers from The Bancorp Bank to its own charter, existing customers received new account numbers and the new routing number 091311229. Varo had to migrate hundreds of thousands of accounts while keeping direct deposits, recurring payments, and linked external accounts running. Customers were notified in advance and given a transition window to update their details with employers and billers.

Using routing number 091311229

091311229 works for direct deposit, ACH payments, bill pay, and external bank transfers. Varo does not currently support outgoing wire transfers — one meaningful limitation compared to traditional banks. Incoming wires are accepted using the same routing number.

Since Varo is entirely mobile-based with no web portal, the app is the only place to find your routing and account numbers. Tap your Varo Bank Account and look under account details.

How Slash builds on the chartered fintech model for businesses

Varo proved a technology company could earn the regulatory approval to operate as a real bank. Slash applies that same commitment to business banking — compliant financial infrastructure paired with the tools finance teams actually need: real-time spend visibility, unlimited virtual cards, automated expense categorization, and integrations with the accounting platforms your team already uses. No partner bank ambiguity, no unclear routing — just purpose-built business banking.