Vio Bank Review 2024

Vio Bank logo

Vio Bank

9.0 rating

Expert Take

If you're looking to save money, diversify your portfolio, or lower your risk, consider Vio Bank. You might find they’re just what you need to reach your personal finance goals and dreams. Most Vio Bank reviews are positive, here’s what I think.


  • FDIC insured
  • No monthly fee


  • No debit card
  • Limited financial products and services

Vio Bank logo

Learn More

at Vio Bank

Vio Bank is an online-only bank offering one of the best savings accounts online. It’s a division of MidFirst Bank, the largest bank privately held in the US, making it a legitimate and secure bank.

Since they are an online-only bank, they don’t have brick-and-mortar branches. Even so, they are an FDIC member, which means their accounts are fully insured.

They offer limited accounts, including MMA (Money Market Account), CDs (Certificates of Deposit), and a High Yield Savings Account.

Vio Bank Products

Vio Bank offers a range of Vio Bank savings accounts.

Online Savings Account: 1.10% APY

Vio Bank offers a High Yield Online Savings Account with an APY (Annual Percentage Yield) interest rate of 1.10%. It’s a competitive rate available on all balances with no tiers.

The minimum deposit to open this account is $100, and interest compounds daily.  There’s no minimum balance and no monthly fee.

¹Annual Percentage Yield (APY) is accurate as of 1/17/2024 and subject to change at the Bank’s discretion. The minimum deposit required to open an account is $500 and a minimum balance of $0.01 is required to earn the advertised APY.

Money Market Account: 5.30% APY

The Cornerstone Money Market Savings Account offers an even higher APY than the High Yield Savings Account. The rate is currently 5.30% APY.

Like the savings account, the minimum deposit requirement is $100, and interest compounds daily.

Certificate of Deposit: 2.75% to 5.25% APY

The Vio Bank High Yield Online Certificate of Deposit has several terms with various APYs, allowing many options to grow your money.

Terms start at six months and go up to 120 months (10 years).

The minimum opening deposit requirement is $500, which makes them reasonably accessible.

Vio Bank states they regularly monitor their competition to ensure they provide competitive rates.

Product APY Min Deposit
Vio Bank 6 Month CD5.25% APY$500
Vio Bank 1 Year CD5.00% APY$500
Vio Bank 18 Month CD4.50% APY$500
Vio Bank 2 Year CD4.25% APY$500
Vio Bank 3 Year CD3.50% APY$500
Vio Bank 4 Year CD2.75% APY$500
Vio Bank 5 Year CD2.75% APY$500
Vio Bank 7 Year CD2.75% APY$500
Vio Bank 10 Year CD2.75% APY$500


  • Paper Statement Fee: $5
  • Stop Payment Fee: $30

Like most online banks, Vio Bank doesn’t charge a monthly maintenance fee, on any of its accounts.

These accounts also have no overdraft fees – which is understandable since you cannot overdraw the account.

If you’re considering a  CD, understand they have early withdrawal penalties, which can wipe out all of the interest earned and, in some cases, a portion of the invested capital. If this is your first time opening a CD, consider starting with a lower-term CD or a CD ladder first.

The bank also charges a monthly fee of $5 for paper statements; however, electronic statements are free.

Getting Started

One thing many people say in their Vio Bank reviews is that getting started with Vio Bank is easy. The entire sign-up process takes less than five minutes and can be completed online from start to finish.

All you need to set up your account is your SSN (Social Security Number), a driver’s license, and mailing address.


Vio Bank doesn’t have any promotions or bonuses at the moment. However, check their website before opening an account since they update promotions and offers frequently.


Vio Bank uses certificates and encryption to protect its customers’ data. Their servers are monitored continuously and updated regularly. They also use anti-virus software, firewalls, and IDSs (Intrusion Detection Systems) to ensure their networks on your data are always safe.

Their software systems also undergo validation processes such as audits to keep systems secure.

Customer Service

Vio Bank offers a few options for customer service including:

  • Learning Center: The Vio Bank learning center offers information about different accounts, tools, and tips to help you make the most out of your money.
  • FAQ Section: There’s also an FAQ section that answers a long list of commonly asked questions, which is worth checking out if you have a question and need a fast answer.
  • Online Form: If you don’t find what you’re looking for in the FAQ section, you can contact a bank representative using the online contact us form or by contacting their customer service department. They’re open from 7:00 AM until 9:00 PM on business days; 8:00 AM – 6:00 PM on Saturdays, and 12:00 PM – 4:00 PM on Sundays.
  • Physical Correspondence: If you prefer to send a physical letter, send it to:
    • Mailing Address: P.O. Box 76149, Oklahoma City, OK 73147
    • Phone Number: 888-999-9170

Pros & Cons

Choosing the best savings account or bank is not always easy. Here are some pros and cons to consider.


  • FDIC insured
  • No monthly fee


  • No debit card
  • Limited financial products and services

Alternatives to Vio Bank

While Vio Bank is an excellent financial institution that offers a substantial (though limited) range of products, they are not the only option. Vio Bank reviews aren’t complete without touching on the alternatives.

Marcus by Goldman Sachs

Like Vio, Marcus’ primary focus is on savings accounts; however, they also offer investments and loans, giving you more options for managing your finances. Their high-yield savings CD goes up to 5.00% APY for a 12-month term CD.


You can’t talk about online banks without mentioning Ally – an online bank that consistently ranks among the best online banks. Ally offers a more comprehensive range of financial products and services than most competition offers, including checking accounts, loans, and investment accounts.

  • High Yield CDs goes up to 4.25% APY for a 9 or 18 month term
  • Money Market Account is 4.20% APY for all terms
  • Online Savings accounts 4.20% APY for all terms

American Express

While American Express is mainly known for its cards, it also offers Savings Accounts and personal loans.

  • High Yield Savings Account offers an APY of 4.25%
  • Certificate of Deposits goes up to 4.50%

Is Vio Bank Best For You?

While Vio Bank does not offer a wide range of bank accounts, their deposit accounts are well-thought-out and pretty solid. This bank will not be for everyone, especially if you want a one-stop-shop solution.

In that case, you might want to look at some of the alternatives we listed, or you might even want to consider a credit union. Even so, you should not dismiss Vio Bank’s options, as they are solid.

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