Vio Bank Review 2022
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At a glance
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Vio Bank is an option for consumers comfortable with banking online who are looking to earn competitive yields on CDs, savings accounts or money market accounts.
Highlights
- Low Min Deposit
- No Monthly Fees
Overall
Vio Bank is an online-only financial institution serving savers nationwide. The bank consistently offers top-tier rates on their money market account, but those looking for a checking account will need to go with another option.
Pros
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Vio Bank offers competitive rates for savers.
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Minimum deposit requirements are low.
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Customers can choose from a wide range of CD terms.
Cons
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Vio bank doesn’t offer checking accounts.
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Customers have access to limited budgeting tools and a peer-to-peer payment tool such as Zelle isn’t offered.
Vio Bank bank products
Vio Bank savings overview
Pros
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The account offers a competitive yield that is paid on all balances.
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There's no monthly fee.
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The $100 minimum deposit requirement is low.
Cons
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Customers are charged $5 a month to receive paper statements.
Bank experience
The Vio Bank mobile app offers digital-banking staples, such as mobile check deposit, account alerts and statement access, but it doesn’t offer more cutting edge features, such as a peer-to-peer payment option like Zelle. The app gets a solid score in the Apple App Store, but Android users are much less enthusiastic in their reviews on Google Play.
Vio Bank customers can reach a bank representative weekdays, 7 a.m. to 9 p.m., Central time, Saturday, 8 a.m. to 6 p.m., and Sunday noon to 4 p.m.
About Vio Bank
Vio Bank is the online division of MidFirst Bank, a privately owned bank based in Oklahoma City. It launched in 2018.
Vio Bank, like most internet-based banks, is best for consumers who are comfortable banking online, who are also looking for higher yields than what many brick-and-mortar banks pay.
Review methodology
We assign a score to each type of account and its features, weigh them carefully based on importance to account holders and determine an overall score. Read our full review methodology.
