Vio Bank High Yield Online Savings Account Review

Vio Bank High Yield Online Savings Account is offered by MidFirst Bank, a bank founded in 1982 and based in Oklahoma City, OK. Vio Bank High Yield Online Savings Account is available in 50 states (and Washington, DC).

• Higher than average APY. Vio Bank High Yield Online Savings Account has an annual percentage yield of up to 0.57%, which is higher than the national average interest rate on savings accounts. Note that you must keep a minimum balance of $0.01.
• $0 monthly fee. This account does not charge a monthly Service Charge.
• $100 minimum deposit. This is a typical minimum initial deposit, but there are accounts that require a smaller initial deposit or have no minimum.
• Hard credit pull. MidFirst Bank may require a hard pull on your credit report to open a checking account.

Pros	Cons
Available in all 50 states. Interest-yielding account. No charge on incoming domestic or international wire transfers.	No signup bonus. Online-only account with no access to physical branches. Does not provide access to a nationwide ATM network. Does not come with a debit card Higher than average wire transfer fees. No ATM access to savings.

Are savings accounts from MidFirst Bank federally insured?

Yes, your MidFirst Bank savings accounts are insured up to $250,000 per person by the Federal Deposit Insurance Corporation (FDIC #4063). The FDIC is an independent agency of the United States government that protects you against the loss of your insured deposits if an FDIC-insured bank or savings association fails. FDIC insurance is backed by the full faith and credit of the United States government.

Does MidFirst Bank offer a signup bonus?

Vio Bank savings account doesn't offer a signup bonus.

What is the minimum initial deposit for Vio Bank savings account?

The minimum deposit to open a Vio Bank savings account is $100.

Vio Bank High Yield Online Savings Account Minimums

Description
APY Minimum Balance	$0.01
Minimum Opening Deposit	Starting at $100
Minimum Required Balance	$0

What APY does MidFirst Bank offer?

Vio Bank savings account offers an APY of 0.57% (APY stands for annual percentage yield, rates may change).

The interest rate on a savings account or checking account can change based, in part, on what the Federal Reserve does. Note that the APY of a savings account is the amount of interest you will earn if you keep your money in the account for a full year expressed as a percentage. The difference between an APY and an interest rate is that the APY takes into account how often your money earns interest (or compounds). The more often your money compounds, the more it will earn. Savings accounts with an interest rate that compounds daily, for example, will earn a higher return (and therefore a higher APY) than savings accounts that compound annually.

What fees does Vio Bank savings account charge?

Vio Bank savings account does not charge a monthly service fee. See the fee breakdown section below to view all fees.

• Outgoing domestic bank transfers come with a $30 fee.
• Outgoing international bank transfers come with a $30 fee. You can save a ton of money in fees if you use use a nonbank money transfer service.
• Vio Bank savings account charges $5 every time you request a paper statement.

What features and perks does Vio Bank savings account offer?

This savings account includes the following features:

• Fraud monitoring - Vio Bank savings account monitors transactions for potentially fraudulent activity, such as when a debit card is unexpectedly used in a different location, or you make a sudden string of costly purchases.
• Mobile Banking Services - Vio Bank savings account allows you to manage your money online or with a mobile app. This includes depositing checks in your account with a mobile app on your smartphone.

Can you set up a direct deposit to Vio Bank savings account?

In most cases, the answer is yes. However, it depends on the direct deposit program your employer uses. Most direct deposit programs allow you to send your paycheck to a savings or checking account. In some cases, you can even split your paycheck between the two.

What is the customer support email for Vio Bank savings account?

The customer support email for Vio Bank savings account is contact@midfirst.com.