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expireddealwars posted Jul 31, 2023 7:07 PM

Vio Bank - Cornerstone Money Market Savings Account - Interest Rate Tracks Fed (5.15% APY as of 7/28/2023)

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There are a lot of "high interest" savings accounts out there, but after looking through a bunch, none of them beats Vio.

If you want a no frills, easy-to-use, high-interest savings account to complement your existing checking/investment/etc. account, Vio is ideal. They regularly adjust their rate as the Fed adjusts, with no action needed on your part.

Vio rates are highly competitive, with no fees and a low opening balance, which also means it is good for kids.

Pair this with a no-fee checking account like T-Mobile Money, and you have access to all basic banking needs with no fees and high interest savings.

Pros:
  • Interest compounds daily, pays monthly.
  • Tracks the Fed changes.
  • No need to do anything when rates change, it automatically applies.
  • FDIC insured.
  • Links to any existing bank account for easy transfers.
  • Deposits are credited the next day.
  • $100 min balance required to open.
  • Can setup as a solo or joint account
  • No monthly fees if you select online statements.

Cons:
  • Must do online statements to avoid fees.
  • Website is SUPER BASIC.
  • Savings account only. You'll need a checking account elsewhere to link to.
  • Deposits have a 1 week withdrawal hold. Not a big deal for most, but something to be aware of.
  • No physical branch.
  • No debit card or ATM access.

https://www.viobank.com/cornersto...et-savings
Community Notes
About the Poster
Deal Details
Community Notes
About the Poster
There are a lot of "high interest" savings accounts out there, but after looking through a bunch, none of them beats Vio.

If you want a no frills, easy-to-use, high-interest savings account to complement your existing checking/investment/etc. account, Vio is ideal. They regularly adjust their rate as the Fed adjusts, with no action needed on your part.

Vio rates are highly competitive, with no fees and a low opening balance, which also means it is good for kids.

Pair this with a no-fee checking account like T-Mobile Money, and you have access to all basic banking needs with no fees and high interest savings.

Pros:
  • Interest compounds daily, pays monthly.
  • Tracks the Fed changes.
  • No need to do anything when rates change, it automatically applies.
  • FDIC insured.
  • Links to any existing bank account for easy transfers.
  • Deposits are credited the next day.
  • $100 min balance required to open.
  • Can setup as a solo or joint account
  • No monthly fees if you select online statements.

Cons:
  • Must do online statements to avoid fees.
  • Website is SUPER BASIC.
  • Savings account only. You'll need a checking account elsewhere to link to.
  • Deposits have a 1 week withdrawal hold. Not a big deal for most, but something to be aware of.
  • No physical branch.
  • No debit card or ATM access.

https://www.viobank.com/cornersto...et-savings

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3 Comments

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Jul 31, 2023 8:30 PM
297 Comments
Joined Feb 2011
firehawk407Jul 31, 2023 8:30 PM
297 Comments
I def have a use for this. Anyone have experience banking with them? This is the first I've heard of Vio. But to be fair, I haven't been looking
Jul 31, 2023 11:58 PM
25 Comments
Joined Nov 2011
ikripakJul 31, 2023 11:58 PM
25 Comments
It's OK, they move money quickly between banks
Original Poster
Pro
Aug 1, 2023 7:45 PM
1.2K Comments
Joined Mar 2008
dealwars
Original Poster
Pro
Aug 1, 2023 7:45 PM
1.2K Comments
Quote from firehawk407 :
I def have a use for this. Anyone have experience banking with them? This is the first I've heard of Vio. But to be fair, I haven't been looking
I had not heard of Vio before this year, but I did a bit of research/reading to find a low-hassle, high-interest place to hold funds. I didn't want to have to constantly churn accounts or worry about fees/lost interest if the balance didn't meet a certain minimum.

All the reviews of Vio gave it high marks. It's a division of MidFirst Bank, that is online only and focuses on savings + CDs.

I've never seen a Vio advertisement. I think they get most of their customers via word-of-mouth. I only discovered them after finding them listed in reviews. Been pleased with them so far.

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