Vio Bank Savings Account Review
Vio Bank High Yield Online Savings isn't available on Finder right now.
- Annual Percentage Yield (APY)
-
4.26%
- Fee
- $0
- Minimum deposit to open
- $100
Our verdict
Earn 4.26% and pay no monthly fees — but you won’t see deposited funds for up to five days.
Vio Bank is a solid option for anyone looking to stash their money in a high-yield account. Its APY is over ten times higher than the national average savings rate, and it doesn’t charge any monthly maintenance fees. Although it doesn’t have any physical branches, customer representatives are available daily by phone. Though Vio Bank offers a strong selection of savings products, it doesn’t have any checking account options. As always, compare a variety of savings accounts before deciding which one to stash your cash in.
Best for: Savers who want a high-yield online account with few fees.
Pros
-
High APY
-
No monthly fees
-
Convenience of opening an account online
-
Interest compounded daily
Cons
-
Five-day hold on deposits
-
$100 opening deposit
-
Phone support not 24/7
-
$5 paper statement fee
Who is the Vio Bank High Yield Online Savings account best for?
The Vio Bank High Yield Online Savings account can be a great fit if you want to grow your savings quickly and don’t need a physical branch.
You’ll earn a solid 4.26% APY with no monthly fees, and you only need $100 to open the account. However, deposits can take a few business days to clear at Vio Bank.
What we like about the Vio Bank High Yield Online Savings account
This account offers a competitive interest rate and low barriers to entry. So, if your goal is to grow your savings with minimal effort, Vio Bank’s savings account is definitely worth checking out.
High APY on all balances
Vio Bank’s 4.26% APY is over ten times the national average, which sits at just 0.40% right now. And there are no balance tiers or hidden requirements to unlock the highest APY.(1)
In other words, you don’t need to worry about hitting a specific threshold or maintaining a large deposit to get the advertised return. Plus, interest is compounded daily and credited monthly.
No monthly fees
You won’t pay any monthly maintenance charges, which means every dollar you deposit goes toward earning interest. There are also no minimum balance requirements you have to meet to avoid fees after opening.
Simple online application
According to Vio Bank’s website, you can apply for its high-yield savings account online in less than five minutes. You’ll just need your Social Security number, driver’s license and mailing address.
Where it falls short
Though this account has a lot going for it, there are a few trade-offs to keep in mind before opening one.
The first is a $100 opening deposit requirement. While it’s not extreme, plenty of other high-yield savings accounts don’t have any deposit requirements. On a similar note, deposits can take up to five business days to clear.
And if you want to avoid the $5 monthly paper statement fee, electronic statements are free.
Limited product variety and customer support
Vio Bank only offers savings products, such as CDs, savings and money market accounts, which means no checking account, debit card or ATM network for everyday banking. Another potential deal breaker is that customer support is available daily but not around the clock, so late-night help isn’t an option.
Customer reviews and ratings
| BBB accredited | Yes |
|---|---|
| BBB rating | A+ |
| BBB customer reviews | 1.5 out of 5 stars, based on 7 customer reviews |
| Trustpilot score | 3.8 out of 5 stars, based on 5 customer reviews |
| Apple App Store Score | 4.6 out of 5 stars, based on 4,300 customer reviews |
| Google Play Score | 3.2 out of 5 stars, based on 735 customer reviews |
| Customer reviews verified as of | 21 October 2025 |
Vio Bank has A+ from the Better Business Bureau (BBB), which reflects how it handles complaints. That said, its customer ratings with the BBB are low, with most negative reviews pointing to poor customer service. It’s worth noting that there are fewer than 10 reviews, so the sample size is small and may not reflect the experience of most customers.
On Trustpilot, Vio’s parent company, MidFirst Bank, fares a bit better, but also has just a handful of reviews. A few customers said they appreciate Vio’s high APY, though there are still some complaints about application denials and unexpected account closures.
What do people on Reddit say?
Redditors seem to like Vio Bank’s high-yield savings account. A few people even recommended Vio Bank’s high-yield savings account when asked which bank to park their cash in.
Frequently asked questions
Sources
Your reviews
Jamela Finder
Contributor
Hi there, looking for more information? Ask us a question.
You are about to post a question on finder.com:
- Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
- finder.com is a financial comparison and information service, not a bank or product provider
- We cannot provide you with personal advice or recommendations
- Your answer might already be waiting – check previous questions below to see if yours has already been asked
Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our finder.com Terms of Use and Privacy and Cookies Policy.
This site is protected by reCAPTCHA and the Privacy Policy and Terms of Service apply.