Vio Bank Review: High Interest Rates on a Variety of Products

GOBankingRates Score

GOBankingRates Best Banks 2023 scores and rankings are objectively determined by our research/editorial team. Our scoring formula weighs several factors that differ from category to category depending on what consumers want from varying products and banks.
Quick Take: With the Cornerstone Money Market account offering a competitive APY, plus auto transfer capabilities, Vio Bank could be an excellent choice for serious savers. Vio also offers a variety of online Certificates of Deposit with terms from 6 months to 120 months.
  • Savings
  • Money Market Savings
  • CDs
  • Customer Service
How did we calculate this?


  • 4.88% APY on money market account
  • No monthly fees
  • High rates on CDs
  • FDIC-insured and backed by MidFirst Bank
  • No overdraft fees


  • No debit card to withdraw funds
  • Vio Bank may place a hold of up to 5 business days on deposits from outside accounts

Overview of Vio Bank

As the online division of MidFirst Bank, the largest privately held bank in the U.S., Vio Bank combines stellar customer service and personalized banking with high savings rates and no monthly maintenance fees. MidFirst Bank holds assets of $34.7 billion.

Vio Bank Account Offerings and Features

Vio Bank offers three different types of accounts for customers: Cornerstone Money Market account, online savings and certificates of deposit. Let’s explore the interest rates, requirements and fees for each type of account.

Cornerstone Money Market Account

A money market savings account typically offers higher interest rates than a standard savings account. Yet, unlike a CD, your money is not tied up for a specific length of time and there are no early withdrawal fees or penalties. As with most money market accounts, Vio Bank charges a fee of $10 per transaction for any withdrawal after 6 withdrawals during any monthly statement cycle. While it’s not an excessive charge, these fees can provide an incentive to keep your money in the account where it will continue to earn interest and grow.

Vio Bank’s Cornerstone Money Market account provides APY with interest compounded daily and paid monthly. You only need $100 to fund the account initially, and there is no monthly fee. You can set up automatic transfers from another bank account, which can make saving easy.

Online Savings Account

Money in Vio Bank’s online savings account earns interest. As with your money market account, there is a $100 minimum opening deposit. However, since accounts are FDIC insured for up to $250,000 per account type, you might want to limit your Cornerstone Money Market to $250,000 and put additional funds in your linked savings account. Vio Bank allows customers to hold up to $2.5 million in various Vio accounts.

As with Vio Bank’s money market account, you’ll pay a $10 fee for each transaction over six if you make more than six withdrawals per statement period, which is common for most savings accounts.  

Online CDs

Vio Bank offers CDs with terms ranging from 6 months up to 120 months with highly competitive interest rates. CDs require a minimum opening deposit of $500. You’ll get the best rate with a six-month CD, delivering APY, which is one of the highest rates available for CDs today.

Keep in mind you’ll pay a $25 fee, plus 1% of the amount withdrawn, on early withdrawals on CDs with terms of up to 12 months, and $25 plus 3% of the amount withdrawn on CDs with terms longer than one year.

You can roll over the money from a matured CD account into another Vio Bank CD with different terms within 10 days of the maturity date. You can also withdraw the funds, fee-free, during this 10-day grace period. If you opt not to take action, your CD will renew at the same term, with the current interest rate for that term.

Customer Service

Vio Bank makes it easy to open an online account and fund it from an external account via ACH deposit. You can also deposit funds in the Vio Bank app using the mobile deposit feature.

Vio Bank makes it easy to reach a customer service representative by calling 888-999-9170 from Monday through Friday, 7 a.m. to 9 p.m. CT, on Saturday from 8 a.m. to 6 p.m. CT, and Sunday from Noon to 4 p.m. CT.

If you call customer service at other times, you’ll reach the automated system. You can also send an email using the online form at

Who Should Choose Vio Bank?

If you’re looking for an easy online savings option with a high APY and no monthly fees, Vio Bank’s Cornerstone Money Market account could be a good choice for you. Similarly, their online bank CDs offer competitive yields and a variety of terms.

Final Note

Vio Bank offers the convenience and high interest rates of an online bank, backed by a reputable brick-and-mortar financial institution and customer service by phone for those who feel more comfortable speaking to a bank representative if they have questions or concerns about their account.

More From GOBankingRates

About the Author

Dawn Allcot is a full-time freelance writer and content marketing specialist who geeks out about finance, e-commerce, technology, and real estate. Her lengthy list of publishing credits include Bankrate, Lending Tree, and Chase Bank. She is the founder and owner of, a travel, technology, and entertainment website. She lives on Long Island, New York, with a veritable menagerie that includes 2 cats, a rambunctious kitten, and three lizards of varying sizes and personalities – plus her two kids and husband. Find her on Twitter, @DawnAllcot.
Learn More


See Today's Best
Banking Offers