I've had an account with Vio for years. I've never had an issue. My only complaint is when I had to call customer service to reset my password and they were cold, and not friendly. They helped me and resolved the issue. But had no personality. That's not always the case, that was just one time. Otherwise, I couldn't be happier.
After reading several negative reviews, l would like to clarify how "linked" transactions work. Regarding daily ($5,000) and monthly ($20,000) deposit/withdrawal limitations: These limits ONLY apply for transactions "initiated" from your Vio external transactions panel. If you don't want to be limited by Vio's policies, simply establish your linked account(s) from an external source (other bank), and initiate transactions through THEM. This way, the linked institution's policies (if better) will supercede Vio's limitations. For instance, one of my linked banks has FAR greater transaction limits and no 5 day holds, etc. Simply put, wherever the transaction is "initiated" from determines whose policies will be enforced. Vio's FAQ page substantiates what I've noted, although in far less detail. My experience with Vio has been good to this point, including their customer service. Hope this helps.
On June 12, i discovered the 2.52% APY rate that VIO Bank began offering on June 7 so I phoned with questions about limits on external transfers. Dominique was very cordial and answered all my questions. THEN, I read reviews on this site which contradicted what I was told by phone. Phones again and Casey gave me different information which mirrors the negative reviews on this website.
Thus, I kept my $ at other banks.
August 19, 2019, phoned VIO again because my other banks keep lowering their rates. Spoke to Alicia who confirmed the $5K daily and $20K monthly ACH limits if initiated at VIO website. I also confirmed that to close an account with a large amount there is no closing fee but wire transfer costs $18.
BOTTOM LINE: I will now go through the application process and report any new findings thereafter.
After calling 5 different times over the course of three weeks and having every customer service rep tell me my account is being "processed" I finally got the refund. Every call I made produced conflicting and vague information about what was going on with my account and when I will get my money. Finally on the last call the rep told me that he informed a supervisor about the issue and they would deal with it. I had little hope this would change anything and was about to pursue legal action until two days later my money was finally back in my account. This was only after they withheld my $5,000 initial deposit without informing me of when I will get it back and harrasing poor customer service reps about it. And this was all after my account was arbitrarily closed not even a week after it was opened without any reason or explanation as to why it was closed. Thank god I got my money back but please stay far far away from this "bank".
I opened a savings account and a couple weeks later I got a letter saying my account was closed. Did not inform me of any reason for it closing just stated it was exercising it’s right stated in paragraph 11. Would have been nice to know why my account was suddenly closed without any notice. They said I will receive a check in the mail with any remaining balance in the account. After talking to customer service they echoed the same statement not giving me any further reason as to why my account was closed. They also said it would not be a check mailed but instead the balance would be returned to my linked checking account. Neither has happened yet. I do not recommend this bank at all. Terrible customer service.
|FDIC Certificate #||4063|
|Return on Assets - YTD||1.49%|
|Return on Equity - YTD||22.01%|
|Annual Interest Income||$743.6MM|
|Assets and Liabilities|
|Assets||Q3 2020vs Q3 2019||$28.17B$21.61B|
|Loans||Q3 2020vs Q3 2019||$22.51B$15.38B|
|Deposits||Q3 2020vs Q3 2019||$17.86B$11.55B|
|Equity Capital||Q3 2020vs Q3 2019||$1.80B$1.71B|
|Loan Loss Allowance||Q3 2020vs Q3 2019||$175.9MM$112.5MM|
|Unbacked Noncurrent Loans||Q3 2020vs Q3 2019||$63.8MM$30.3MM|
|Real Estate Owned||Q3 2020vs Q3 2019||$12.0MM$23.0MM|
Always verify rates and promotions with the bank or credit union. We are not Vio Bank; we are a rate comparison website and cannot provide official rates or promotions.
|APY||MIN||MAX||ACCOUNT NAME||VIEW DETAILS|
|0.57%||$100||-||High Yield Online Savings Account|
|APY||MIN||MAX||ACCOUNT NAME||VIEW DETAILS|
|0.70%||$500||-||120 Month High Yield Online CD|
|0.60%||$500||-||84 Month High Yield Online CD|
|0.50%||$500||-||60 Month High Yield Online CD|
|0.40%||$500||-||48 Month High Yield Online CD|
|0.30%||$500||-||36 Month High Yield Online CD|
|0.25%||$500||-||24 Month High Yield Online CD|
|0.20%||$500||-||9 Month High Yield Online CD|
|0.20%||$500||-||18 Month High Yield Online CD|
|0.15%||$500||-||6 Month High Yield Online CD|
|0.15%||$500||-||12 Month High Yield Online CD|
Vio Bank is an Internet only bank and does not have branch locations. Its headquarters is located at 501 NW Grand Boulevard - Oklahoma City, OK 73118