Vio Bank Review: Savings and CDs

High rate and no monthly fees. Vio Bank offers a highly competitive rate: 4.66% annual percentage yield on all balances. You need $100 to open this account and there's no monthly fee.

External transfers may take a week. Transfers between Vio accounts are instantly processed, but transfers involving an external bank can take up to five days (not including weekends and holidays). This timing is slower than some other online banks that can do transfers that take three days or less. (Learn more about bank transfer delivery times.)

Vio Bank’s deposit limit is high. You can deposit up to $25,000 per day via online transfer and $100,000 per day in checks using the app.

High rates, many terms, low minimum. Vio offers a wide range of CD terms, from six months to 10 years, with solid rates. You only need $500 to open a CD. Some banks have minimums as high as $10,000.

Straightforward website but limited support channels. Vio’s website clearly lays out interest rates, opening minimums and other account details. But the bank's support channels are limited. Customer service hours by phone are 7 a.m. to 9 p.m. CT on weekdays, 8 a.m. to 6 p.m. CT on Saturdays and 12 p.m. to 4 p.m. CT on Sundays. It doesn’t offer support on X (Twitter).

The online-only bank is really for earning interest on savings. There are no ATMs, branches or checking accounts.

Mobile app ratings are mixed. iOS users rate Vio’s app above 4 stars, but Android users give close to 3 stars. Both are out of five stars.