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9/10 - Vio Cornerstone MMA Boosts Rate To 2.22%
8/11 - Vio Up To 2.10% APY
5/31 - Vio Bank Ups Money Market Rate While Savings Account Rate Remains Low
3/17 - Vio Bank Ups Cornerstone Money Market Account Rate
10/7 - High Yield Online Savings 0.76%
9/4 - Rate Drop This Morning SV From .91% To .83% APY
8/22 - Another Vio Bank Rate Cut
8/13 - Another Rate Drop From 1.04% To 1.01% APY... Next Drop Below 1% Comming Soon
8/4 - Greeted This Morning With A Rate Drop From 1.11% To 1.04% APY
7/10 - Another Vio Bank Rate Drop
6/24 - Vio Cuts To 1.21 From 1.35
6/11 - Review of Vio Bank Savings Account and CD Rates
6/10 - Vio Bank Savings Cut From 1.50% To 1.35%
5/15 - Vio Drops Again Two Weeks Later To 1.50%
5/1 - Vio Bank Savings Rate Reduction To 1.60%
4/30 - Vio Bank High Yield Savings Rate Continues To Be Competitive
6/7/19 - New Rate Leader - Vio Bank's High Yield Online Savings, 2.52% APY
6/7/19 - Online Savings Account 2.52% APY
3/27/19 - Vio Bank Ups High Yield Online Savings To 2.46% APY
2/8/19 - Vio Bank Nudges Up Savings Account Rate Again
1/25/19 - Vio Bank Nudges Online Savings To 2.39% APY
11/20/18 - Vio Bank Boosts High Yield Online Savings Rate
10/31/18 - Vio Bank Ups High Yield Online Savings APY
8/22/18 - Vio Bank Opens Its Virtual Doors With Savings Account
Excellent Online "Savings" Bank
I've too have had an account with Vio for years. I've too have never had an issue. And the few customer service calls I've made were handled very well. One thing to note... this bank offers a much higher and very competitive interest rate on their Money Market accounts vs. Savings account. They have become my primary bank for "savings". I couldn't be happier.
Please Read This Positive Review
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.
Everyone Deserves A Second Chance.
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.
Vio Doesn't Care About Its Customers...
I've had a Vio savings account for year. Now that interest rates are going up, all of my banks have raised their rates, with one exception: Vio. Rather than pass along higher rates to their existing customers, they established a new account that offers a far more competitive rate. In other words, Vio is screwing its existing customer in favor of luring in new customers. Not once did Vio contact me with information about this new Money Market account. I'm closing my account and opening a new account elsewhere.
Data as of Q2 2022
Health Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 4063 |
| Year Established | 1911 |
| Employees | 2994 |
| Primary Regulator | OCC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 2.23% |
| Return on Equity - YTD | 23.08% |
| Annual Interest Income | $586.8MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2022vs Q2 2021 | $33.08B$31.05B |
| Loans | Q2 2022vs Q2 2021 | $26.47B$25.23B |
| Deposits | Q2 2022vs Q2 2021 | $20.75B$20.57B |
| Equity Capital | Q2 2022vs Q2 2021 | $3.34B$2.60B |
| Loan Loss Allowance | Q2 2022vs Q2 2021 | $170.6MM$199.4MM |
| Unbacked Noncurrent Loans | Q2 2022vs Q2 2021 | $33.1MM$61.2MM |
| Real Estate Owned | Q2 2022vs Q2 2021 | $7.0MM$15.0MM |