Vio Bank

Vio Bank Reviews

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About Vio Bank

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Vio Bank is an online bank with one savings account, a money market account (MMA) and CD terms ranging from six months to 10 years. Most accounts have competitive yields, but its online savings account is lackluster compared with other high-yield savings accounts. Customers can expect no monthly fees, but the lack of debit card or checks makes it hard to use your MMA daily.

Pros & Cons

  • Good rates for money market account and CDs
  • CD terms go up to 10 years
  • No monthly fees
  • No checking accounts
  • Low savings account interest rate
  • No debit card or checks for money market account

Our editor’s take

Vio Bank is ideal for anyone wanting to build a CD ladder. Its CD terms start at six months and go all the way up to 10 years, which is a wider range than you’ll find with most banks. This makes it ideal for creating a customized laddering strategy that fits your goals.

But if you’re looking for a high-yield savings account, Vio Bank falls short. Its Online Savings Account earns a low APY of 1.10% at the time of publishing. And although its money market account earns an impressive 5.30%, it doesn’t come with a debit card or checks, which typically come standard with similar accounts.

How does Vio Bank work?

Vio Bank is the digital banking arm of MidFirst Bank, meaning it has no physical branches. You can’t speak to a teller in person, but the upside is that you have the potential to earn better interest rates and pay fewer fees because the bank has less overhead to manage.

If you need customer service, you can call Vio Bank at 888-999-9170. Its customer service hours are:

  • Weekdays from 7 a.m. to 9 p.m. Central Time
  • Saturdays from 8 a.m. to 6 p.m. CT
  • Sundays from 12 p.m. to 4 p.m. CT

Vio Bank products and services

Vio Bank has one savings account, one money market account and a string of certificates of deposit (CDs). 

Online Savings Account

Vio Bank’s Online Savings account earns a rate that’s higher than the national average but is much lower than high-yield savings accounts (HYSAs) from similar online banks. The current rate is 1.10% on all balances. Meanwhile, similar online accounts earn 4.00% or more.

You need at least $100 to open a Vio Bank Online Savings account, which is also a higher minimum than other HYSAs. But there’s no monthly fee as long as you opt into digital statements. Otherwise, you’ll pay $5 a month for paper statements.

Money Market Savings Account

Vio Bank’s Cornerstone Money Market Savings Account earns 5.30% APY on all balances. It has a $100 minimum opening deposit requirement. There’s no monthly fee, but you’ll pay $5 per month if you request to receive paper statements. You can set up automatic transfers with this account, which is a good feature if you’re looking to automate your savings.

Certificates of deposit

Vio Bank has more CD terms than a typical bank, ranging from six months to 10 years. All terms require a $500 minimum deposit, which is also a lower opening deposit requirement than many institutions.

As with all CDs, you’ll pay an early withdrawal penalty if you need to access your money before maturity. You have a 10-day grace period at maturity to withdraw your money or adjust your balance before it renews again.

These are Vio Bank’s current CD rates:

6 months5.15%
12 months4.70%
18 months4.50%
24 months4.25%
36 months3.50%
48 months2.75%
60 months2.75%
84 months2.75%
120 months2.75%

Vio Bank rates

Although some of Vio Bank’s rates fall short of other online banks, its rates are still much higher than the national average.

Here’s a quick look at how Vio’s savings, money market and CD rates compare to the averages published by the Federal Deposit Insurance Corporation (FDIC):

Vio Bank fees

Vio Bank has no monthly fees when you enroll in digital statements. It also doesn’t have overdraft fees. But you may run into these charges depending on which account you have:

  • $5 for paper statements
  • $30 for stop payment requests
  • $30 for outgoing wire transfers

Overall, Vio Bank has fewer fees than many banks. Of the fees it charges, rates are pretty standard compared to other institutions.

How does Vio Bank compare?

Since Vio Bank is an online bank, it can be helpful to see how it compares to other digital institutions.

Compared to Ally Bank and Synchrony Bank, Vio has more CD terms to choose from. So if you want a lot of variety, Vio Bank could be the way to go.

But when it comes to high-yield savings accounts, Vio Bank’s option pales in comparison to Ally’s and Synchrony's—it has a lower interest rate, a higher minimum opening deposit requirement and fewer account features.

Here’s how high-yield savings accounts compare at all three institutions:

Vio Bank FAQ

What is Vio Bank’s routing number?

The routing number for Vio Bank is 303087995. You can view your routing number and full account number by logging into your account.

Who is Vio Bank owned by?

Vio Bank is owned by MidFirst Bank, and it operates as the bank’s online banking arm.

What’s the minimum balance for a Vio Bank account?

You need $100 to open a Vio Bank Online Savings or Cornerstone Money Market Account and $500 to open a Vio Bank CD.

What is the maximum transfer amount for Vio Bank?

You can transfer up to $25,000 per day and $100,000 per month using Vio Bank’s external transfer service. If you’re using a third-party transfer service, there is no limit, but you’ll need to be mindful of any FDIC insurance caps that apply to your account. For checks, you can deposit up to $100,000 per day and $250,000 per month. There’s no cap for checks sent by mail to Vio Bank for deposit.

Is Vio Bank legit?

Vio Bank is the digital banking arm of MidFirst Bank, which is the largest privately owned bank in the U.S. It reportedly manages $37.2 billion in assets. Vio Bank is FDIC-insured through MidFirst Bank, so if you open an account with Vio, your funds will be safe up to the federal limits.

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Vio Bank Company Information

Company Name:
Vio Bank
P.O. Box 76149
Oklahoma City
Postal Code:
United States