Vio Bank Review: High Rates and Low Minimums
Written by
Rudri Bhatt Patel, CFHC
Edited by
Elizabeth Constantineau, CFHC
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Start saving with just $100 and enjoy flexible access to your funds.
Vio is the online-only division of MidFirst Bank, the largest privately held bank in the U.S. As an FDIC-insured institution, your funds are protected up to $250,000. Vio Bank specializes in simple and accessible banking products, including CDs, money market savings accounts and regular savings accounts, all managed online or through its mobile app.
When you’re looking to grow your savings without fuss, Vio Bank stands out as a refreshingly simple — and surprisingly generous — online banking option. As the online-only division of MidFirst Bank, Vio makes it easy for savers across the U.S. to open an account in minutes with just $100, skip monthly maintenance fees if they go paperless, and enjoy competitive interest rates. It’s a no-frills, all-digital solution built for people who want to earn interest quietly in the background — without needing a local branch or a complicated sign-up process.
Whether you’re new to saving or just tired of banks charging every little fee under the sun, Vio Bank offers a clear answer: open once, forget about it, and let your money grow.
Why Vio Bank Excels as an Online Bank
Vio Bank keeps its focus on the things online customers value most: strong rates, simple setup, and no monthly fees eating into your balance. You can open an account with just $100 and manage everything digitally, which makes it a great fit for anyone who wants an easy, low-maintenance place to grow their savings.
- Competitive APYs that outperform many traditional banks
- No monthly maintenance fees when you choose paperless statements
- Only $100 needed to open an account
- Fully online banking backed by the security of MidFirst Bank
- Straightforward features without unnecessary extras
Vio Bank Savings Accounts
Vio Bank’s Online Savings account offers a straightforward way to save with no monthly maintenance fees — unless you opt for paper statements, which cost $5 per month. You can open an account in minutes with a low minimum deposit and earn APY.
- Earns APY.Â
- No monthly maintenance fee.
- Minimum deposit is $100.Â
- Other online banks offer a higher APY.
- Paper statements cost $5 a month.Â
Best For
Money Market Accounts
Great APYs
Online Banking
Mobile App
Low Monthly Fees
No Monthly Fees
Vio Bank’s Online Savings account is a basic account with no monthly fees to chip away at your savings. Opening an account takes just a few minutes and requires only $100.Â
Fees
$5 monthly fee with paper statements
APY
Min Opening
$100
Pros
- Low minimum deposit
- No monthly fees
- Earns APY
Cons
- Other online banks offer a higher APY
- $5 charge on paper statementsÂ
Quick Take
With a low minimum deposit of $100 to open, Vio Bank’s savings accounts are accessible for those who want to save. While the APY is low compared to other online banks, it is still higher than the national average.Â
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Vio Bank CD Accounts
Vio’s certificates of deposit all pay attractive rates like those on its Online Savings account. The shortest term of four months offers the best rate of APY. However, 12-month CDs earn a respectable APY.
- Many options for different CD length terms.Â
- $500 minimum deposit required to open a CD.
- APY on a one-year CD is .Â
- CD offerings are only online.Â
- Terms up to 10 years long.
Best For
Money Market Accounts
Online Banking
Great APYs
Mobile App
Low Monthly Fees
CDs With Terms up to 10 Years, All Online
Vio’s CDs offer solid rates like its Online Savings account, with a top APY for four-month terms. You can open a CD with just $500.
Fees
Early withdrawal penalty may apply
APY
Up to
Min Opening
$500
Pros
- Variety of CD terms
- Low minimum deposit
- Solid rates
Cons
- Online access only
- $500 minimum may be high for some customers
- CDs automatically renew — you will have to call if you don’t want automatic renewal
Quick Take
Vio Bank’s CD rates are solid with ranges from to APYs and the minimum deposit of $500 is manageable for most.
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Vio Bank Money Market Accounts
GOBankingRates chose The Cornerstone Money Market account as the Best Money Market Account in 2025. It, like the Online Savings account, requires just $100 to open, and it has no monthly fee unless you opt for paper statements. Balances earn an excellent APY of , and you can auto-transfer funds to stay on track with your savings goals.
- Earns APY which is higher than most money market accounts.
- Minimum opening deposit of $100 makes it accessible for most people.
- Enroll in e-delivery of statements to waive the $5 monthly fee.
- You cannot transfer funds to an internal checking account since VIO doesn’t offer those accounts.
- There are no physical branches so no ability to process cash deposits.Â
Best For
Money Market Accounts
Online Banking
Great APYs
Mobile App
Low Monthly Fees
Start Saving With Just $100
Vio Bank’s Cornerstone Money Market account was named as the Best of 2025. Open with $100, enjoy no monthly fees (with e-statements) and earn competitive interest while automating savings.
Fees
$5 monthly fee with paper statements
APY
Min Opening
$100
Pros
- Higher interest rate than most money market accounts
- Minimum deposit of $100
- No monthly feeÂ
Cons
- External transfers to another bank may take longer
- No check writing capabilitiesÂ
- No physical branchesÂ
Why We Like Vio Bank
VIO Bank’s Cornerstone Money Market account is the best option on the market. It’s affordable since the minimum deposit is $100 and the payoff is APY.
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Vio Bank Banking ExperienceÂ
The banking experience can make or break a financial institution’s relationship with its customers. Vio Bank’s mobile banking app lets you manage your accounts using your iPhone, iPad, Android smartphone or Android tablet. In addition to checking balances and transaction histories, you can transfer funds between linked accounts.Â
The app may be best suited to iOS users, who give it a 4.6 out of 5-star rating. The Android version gets just 2.8 out of 5 stars, with users complaining about the lack of a fingerprint or PIN option for easy access in addition to bugs and limited functionality.
Vio offers multiple ways for customers to get in touch with the service department, including email, phone or online chat. The phone lines have better hours than you might expect even a brick-and-mortar bank to be open:
- Monday through Friday from 7 a.m. to 9 p.m. CT
- Saturdays from 8 a.m. to 6 p.m. CT
- Sundays from 12 p.m. to 4 p.m. CT
Comparable Online Bank Options Â
Compare how Vio Bank stacks up against other online banks in terms of products, features and APYs to find the best fit for your financial needs.
SELECTED BANK
MOST COMPARABLE
MOST COMPARABLE
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$5 monthly fee with paper statements
$0
No monthly maintenance fees
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Min Opening
Min Opening
Min Opening
$100
$0
$0
SELECTED BANK
MOST COMPARABLE
MOST COMPARABLE
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Early withdrawal penalty may apply
No monthly service fee
No monthly fee
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APY
Up to
Up to
to
Min Opening
Min Opening
Min Opening
$500
$0
$1,000 to $10,000
SELECTED BANK
MOST COMPARABLE
MOST COMPARABLE
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$5 monthly fee with paper statements
$0
No monthly maintenance fees
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APY
APY
Min Opening
Min Opening
Min Opening
$100
$0
$0
Final TakeÂ
Vio is a simple, straightforward online bank backed by the largest privately held bank in the country, MidFirst Bank. Your money is FDIC insured up to $250,000, and with a money market account or CD in particular, your savings can grow quickly thanks to high interest rates, compounded daily.
If your financial goals include building up savings to prepare for a trip, save for a down payment on a home or pay for an event, Vio’s high APYs and low minimum deposits to open an account make it a great choice.
Vio Bank FAQ
Here are the answers to some of the most frequently asked questions about Vio Bank.- Is Vio Bank safe?
- Yes. All accounts are protected by FDIC insurance and are guaranteed up to $250,000.
- Is Vio Bank legitimate?
- Yes, Vio Bank is a legitimate institution. It operates as the online baking division of MidFirst Bank, one of the largest privately held banks in the United States.
- Is Vio Bank FDIC insured?
- Yes. As a MidFirst Bank division, Vio Bank deposits are insured up to the standard FDIC coverage limits. This means your funds are protected up to $250,000 per depositor per category.
- Does Vio Bank have fees?
- Vio Bank offers savings and money market accounts with no monthly service fees. Certain services may come with charges. For example, paper statements cost $5 a month, but you can waive that fee if you opt for electronic statements.
- How can you withdraw money from Vio Bank?
- Vio Bank doesn’t offer ATM or debit card access, so all withdrawals must occur online through an external or wire transfer. Alternatively, you could ask that a check be mailed to your address on file.
Dawn Allcot and Daria Uhlig contributed to the reporting for this article.
Editorial Note: This content is not provided by any entity covered in this article. Any opinions, analyses, reviews, ratings or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by any entity named in this article.
Rates are subject to change; unless otherwise noted, rates are updated periodically. All other information on accounts is accurate as of Dec. 8, 2025.Â
To determine the Best Money Market Accounts of 2026, GOBankingRates analyzed the following factors from all banks (excluding neobanks): (1) total assets as sourced from the FDIC; (2) number of branch locations as sourced from the FDIC; (3) minimum deposit to open an account; (4) APY on the money market account; (5) the minimum balance needed to earn the APY; (6) monthly money market fee ratio (percentage of the minimum to avoid fees compared to the monthly fee itself); and (7) the average mobile app rating between the Google Play (Android) and Apple stores. All factors were then scored and combined, with the lowest score being the best. Factors (1) and (2) were weighed 0.5 times, and factor (4) was weighed 4 times. All products and offerings had to be available as of Dec. 8, 2025, to be considered. Rates are subject to change; unless otherwise noted, rates are updated periodically. All other information on accounts is accurate as of Dec. 8, 2025.
