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Vio Bank High Yield Online Savings account review

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Vio Bank High Yield Online Savings account review’s rating: 3.9 / 5.0


Vio Bank, a division of MidFirst Bank, offers an attractive High Yield Online Savings account built for almost anyone. It has no monthly fees and a strong APY. But you need at least $100 to open the account and there’s a five-day hold on all deposits.



$5 per month



Minimum deposit to open


Fee$5 per month
To waive the feeOr opt out of paper statements
Minimum deposit to open$100
Minimum balance to earn interest$0.01
Interest compoundingDaily
Monthly transaction limit6
Fee per transaction over the limit$10
More Info

Expert review

Cassidy Horton

Review by

Cassidy Horton is a writer for Finder, specializing in banking and investments. She has a Bachelor of Science in Public Relations and a Master of Business Administration from Georgia Southern University. Cassidy enjoys educating people about financial services, exploring the Pacific Northwest and watching endless reruns of The Office.

Expert review

The Vio Bank High Yield Online Savings account is a good choice for anyone looking for a high-yield savings account. It has no monthly fees and a strong 0.76% APY. Although it doesn’t have any physical branches, customer support representatives are available daily by phone.

But while Vio Bank offers a strong selection of savings products, it doesn’t have any checking account options.

How do I open a Vio Bank High Yield Online Savings account?

Follow these steps to open your account online:

  1. Go to the provider’s site and follow the steps to apply.
  2. Click Open An Account.
  3. Choose whether you’re opening an individual or joint account and click Continue.
  4. Enter your personal information, including your name, date of birth, Social Security number and employment status and click Continue.
  5. Follow the prompts to accept the disclosure statements, fund your account and submit your application.


You must meet these qualifications to open a Vio Bank High Yield Online Savings account:

  • US citizen or permanent resident
  • At least 18 years old
  • US mailing address
  • Social Security number
  • Government-issued ID
  • $100 minimum opening deposit
  • External bank account for opening deposit

Required information

You’ll need this information to complete your online application:

  • Valid US address
  • Social Security number
  • Government-issued ID
  • Date of birth
  • Employment status
  • Email address
  • Phone number

What are the benefits of a savings account with Vio Bank?

Vio Bank offers standard savings account benefits like FDIC-insured deposits and mobile and online banking, along with:

  • High APY. Offers a 0.76% APY — that’s 22x more than the national average.
  • No monthly fees. Vio Bank doesn’t charge any monthly maintenance fees.
  • Interest compounded daily. Your money grows even faster with interest that’s compounded daily.
  • Daily phone support. You can chat with a customer support representative by phone any day of the week.

What should I look out for?

While the Vio Bank High Yield Online Savings account has its perks, there are a few things you should watch out for:

  • 5-day hold on deposits. Deposits are held for at least 5 business days before posting the funds to your account. But you’ll still earn interest for the days your money was inaccessible.
  • Excess transaction fee. You’ll pay $10 for each transaction over the six monthly transaction limit. This is the usual policy, but it may be waived for a limited time. Check with Vio Bank.
  • $100 opening deposit. You need at least $100 to open the Vio Bank High Yield Online Savings account.

Compare with other savings accounts

Name Product Interest rates (APY) Fee Minimum deposit to open Interest earned
American Express® High Yield Savings
Enjoy no monthly fees and a competitive APY with this online-only savings account. Accounts offered by American Express National Bank, Member FDIC.
Axos Bank High Yield Savings
No monthly maintenance fees. No minimum balance requirements. Interest compounded daily.
Aspiration Spend & Save Account

1.00% on $0 to $10,000 but you’ll need to be enrolled in Aspiration Plus and make at least $1,000 in debit card purchases a month
$0 per month or $7 per month for Aspiration Plus ($5.75 per month if you pay annually)
Deposits are fossil fuel-free and insured by the FDIC. Enjoy a spend and save combo account with unlimited cash back rewards and a $100 bonus when you spend $1,000 in your first 60 days.
CIT Bank Money Market
A savings account with a higher-than-average rate and minimal fees.
SoFi Money
SoFi Money® is a cash management account that charges no account fees to save, spend, and earn cash back rewards when you spend on brands you love.
Chase Savings
$5 per month
(can be waived)
A simple savings account with low, waivable monthly fees and a $150 signup bonus when you meet deposit and balance requirements.
CIT Bank Savings Builder High Yield Savings Account

0.55% on $25,000+ or set up a direct deposit of $100+ each month
0.31% on $0 to $24,999
No account opening or maintenance fees. Daily compounding interest. Earn one of the nation's top rates
Discover Online Savings Account
Take advantage of a high-interest online savings account with no fees, no minimums and more.
BBVA Money Market

0.21% on $1,000,000+ for 3 months (0.20% after)
0.13% on $10,000 to $999,999.99 for 3 months (0.10% after)
0.05% on $0 to $10,000
$15 per month
(can be waived)
Earn a promotional APY for your first 3 months and access your money by ATM, check or bill pay.
Discover Money Market

0.50% on $100,000+
0.45% on $1 to $99,999
This money market account offers a competitive APY.
UFB Direct High Yield Savings
Earn an APY when your balance is higher than $10,000 with this no-monthly-fee savings account.
Betterment Everyday Cash Reserve
This savings account has no account and overdraft fees, plus it requires no minimum balance.
Synchrony High Yield Savings
Earn one of the highest interest rates without the fees.
UFB Direct Premium Money Market Account

0.40% on $25,000+
0.10% on $0 to $24,999.99
$10 per month
(can be waived)
Enjoy the security and earning potential of a savings account while maintaining the flexibility to write checks.
Radius Bank High-Yield Savings

0.25% on $25,000+
0.15% on $2,500 to $24,999.99
0.05% on $10 to $2,499.99
A free high-interest savings account with a $100 minimum deposit to open

Compare up to 4 providers

If you were hoping to keep your checking and savings account at the same bank, you may want to keep looking. As always, compare your options when considering a savings account.

How do I deposit or withdraw my money?

As with most online banks, there are only a few ways to deposit and withdraw money from your Vio Bank High Yield Online Savings account:


  • Paper check sent by mail
  • Mobile deposited check
  • Wire transfer
  • ACH transfer from an external bank


  • Wire transfer
  • ACH transfer to an external bank

What other savings options does Vio Bank offer?

Vio Bank offers two banking products — the High Yield Online Savings account and a CD:

  • High Yield Online CDs. Requires a $500 minimum deposit and earns 0.15% to 0.7% APY with six-month to 10-year terms.

Frequently asked questions

Savings account ratings

★★★★★ — Excellent

★★★★★ — Good

★★★★★ — Average

★★★★★ — Subpar

★★★★★ — Poor

We analyze top savings accounts and rate them one to five stars based on factors that are most important to you. These factors include: interest rates, monthly fees, minimum deposits, customer service and account features.

Read the full methodology of how we rate savings accounts.

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