Is Vio bank savings account good?

Vio Bank is basically online as well as one -only a financial institution that works online. This is a private bank, which was founded in 2018. This is basically based in Oklahoma City and serves or functions in many other cities and states such as Texas, Colorado, California, and Arizona.

Vio Bank operates as a Midfirst Bank division which has an asset of $ 20 billion and thus, Midfirst Bank is categorized as the largest private financial institution in the U.S.

Table of Contents

Vio Bank Reviews:

Product Name	Vio High Yield Savings
Min Sum deposit	$ 100
APY	1.50 percent APY
Type of Account	Savings account
Promotions	No promotions
Monthly account maintenance fee	$ 0

A quick review of Vio Bank features:

High APYs: It offers viable savings account APY
No monthly fees: Its fees are easy to avoid and are comparatively less, compared to other competitors in the market.
Low Minimum Deposit: You just need $ 100 to open up an account and don’t require a minimum daily balance.
Other Fees: Vio bank does not charge any monthly fees or savings account fees. But it does have some other fees associated, that are charged from the customers, although some are minimum and some are barely charges which are as follows:

Type of Fee Charged	Associated Fee
Monthly Maintenance	$ 0
Excess Withdrawal	$ 10
Stop Payment Fee	$ 30
Returned Item Fee	$ 7
Domestic Incoming Wire Transfers	$ 0
Domestic Outgoing Wire Transfer	$ 18

FDIC-insured: The Vio bank is FDIC insured like other traditional and online banks. Per customer and per account of the bank is insured by FDIC up to $ 250,000.

Pros of Vio Bank Reviews:

Vio Bank offers competitive rates for savers.
The minimum deposit necessities of the bank are low.
The bank offers an assortment of CD terms.

Cons of Vio Bank Reviews:

A small range of products is offered by the bank.
There is no access to budgeting tools or the ability to make person-to-person payments to the customers.
There are no mobile apps developed as of yet.

So, according to a review at Vio Bank is an online special financial institution that serves the country and offers a high -yield savings account customer or CD that has competitive rates.

Vio bank saving reviews:

Vio Bank Savings Recount is a high results savings account available at all balances and offers competitive results. Furthermore, to open a Vio savings account, a low $ 100 deposit is required, but there is no monthly fee related to the account.

Associated Penalty with Vio savings account:

Vio savings account operates on Regulation D rules, that limits you to withdrawal only six withdrawals per month as more than 6 withdrawals would cost you $ 10 as a penalty.
$ 5 is to be paid in case you don’t have any bank activity for more than 12 months. So, as a monthly inactivity fee, you need to pay $ 5 to the bank.
$ 25 is to be paid in case you want to close down your account within the first 90 days after opening the account. So, $ 25 is the account closing fee charged by the bank.

Pros of Vio bank saving reviews:

The Vio bank saving account has an APY that is amongst the top yields available in the market.
On all bank balances the APY is available.
The interest is compounded regularly.

Cons of Vio bank saving reviews:

In case you receive paper statements then you need to pay $ 5 per month to the bank as a statement charge.

Vio bank CDs reviews:

Minimum opening deposit: $ 500
Minimum balance to earn APY: $ 0.01
Early withdrawal penalty: You need to pay 1 percent of the amount that you withdraw with a penalty of a $ 25 for a period of 6 months to 12 month CDs, and you need to pay 3 percent of the amount you withdraw with a penalty of a $ 25 for a period of more than 12 months.

Six months to 10 years traditional CDs are offered by Vio Bank, where the minimum deposit for each Vio bank account is as low as $ 500. Here, the CD is automatically updated before they are mature, if not, the bank prohibits account holders. Furthermore, some initial withdrawal sentences are also collected by banks that depend on the period.The table below illustrates APY offered by Vio Bank based on a different period of time, although the $ 25 penalty fee is the same in all cases.

Term	APY
6 months	0.20 percent
9 months	0.25 percent
12 months	0.20 percent
15 months	2.05 percent
18 months	0.30 percent
24 months	0.35 percent
36 months	0.45 percent
48 months	0.50 percent
60 months	0.60 percent
84 months	0.70 percent
120 months	0.80 percent

Pros of Vio bank CDs reviews:

The interest is compounded on a regular basis.
There is moderately a low minimum deposit requirement of the bank.
An assortment of CD terms is offered by the bank.

Cons of Vio bank CDs reviews:

The withdrawal penalties which are levied early are harsh.
There are no special types of CDs or promotions available.
Some other online banks also do offer higher yields than Vio online bank.

So, as per the Vio bank CDs review, competitive rates, as well as low cost, are provided by the Vio bank.

How Can you Open a Vio Bank Account?

To open a Vio bank account, you need to visit where you need to fill out the Vio Bank application form available online. When your account will be opened, you can link your external bank current account to move money or operate your Vio savings account.

Vio bank login:

You can directly enter the Vio bank account at (Vio Bank website). However, if you have not registered, then first you have to register at the Vio Bank.

Vio bank routing number:

The number of Vio Bank’s stomach is 303087995. This is also registered as the first bank’s stomach number because Vio Bank is part of the Midfirst Bank.

Vio bank reviews scams:

Fraud is common in online banking. So, Vio Bank has taken the right steps to prevent Vio Bank’s online fraud, namely as:

Phishing
Identity Theft
Software Threats
Spyware
Bogus Check Scams

Phishing: Identity Theft: Use of fake emails and web sites, by which personal information of the user or individual such as credit card numbers, Social Security numbers, and online banking usernames and passwords are retrieved. So, it is the most common way in which emails are sent to the user, that holds the website link of the fraudster upon which all the detailed information is gained. So, be sure that Vio Bank never asks for any personal information.
Software Threats: Software threats will attack your computer and will eventually leave out your computer unusable, in which the information is accessed by another person. The common types of Vio bank Software Threats include:

Viruses
worms and
trojans

Spyware: Spyware gathers information about the websites you use, your bookmarks, use of patterns, etc.
Bogus Check Scams: These scams are used to counterfeit checks or deposits checks into your bank account and withdraw money from the account.

Vio bank ratings:

Vio Bank Review
Interest Rates	5 / 5
Fees and Charges	5 / 5
Customer Service	4 / 5
Ease of Use	4 / 5
Products and Services	4 / 5
Tools and Resources	4 / 5

Thus, the overall Vio bank rating is 4.3. These ratings are based on Vio bank customer reviews.

Vio bank reviews BBB:

The overall ranking or BBB review of Vio Bank is A +. Because it has fewer customer complaints and the level of interest offered to customers.

Is Vio bank legit?

Vio Bank does not have frills and it is only an online bank that offers a few products to its customers. In addition, he does not have a monthly fee to pay and offer competitive tariffs, further customer service is also easy to available. So, yes, legitimate to use Vio Bank.

Is Vio bank safe?

Yes, Vio Bank is safe because it uses the bank level encryption and is also insured by FDIC, which means that your Vio savings account is insured by the government up to $ 250,000.