Vio Bank Boosts High Yield Online Savings Rate


Deal Summary: High Yield Online Savings, 2.35% APY on all balances, $100 min opening deposit

Availability: Nationwide (internet bank)

About four months ago, MidFirst Bank’s newest internet division, Vio Bank, made its debut on the internet bank stage. The inaugural product line included a variety of CDs and the High Yield Online Savings account, which had an initial 2.10% APY. This morning, Vio Bank upped that rate to 2.35% APY on all balances.

2.37%$100-Vio BankHigh Yield Online Savings Account
Rates as of January 21, 2019.

Funding and Accessing the Savings Account

A High Yield Online Savings account can be opened with a minimum $100 deposit. The initial deposit must be made by ACH from the linked bank account named on the online application. After the account is established, up to five external bank accounts can be linked and deposits from those linked accounts can be made via ACH or wire. The speed of incoming ACHs is anywhere between 2-5 business days, with hold times for incoming ACH about 2 or 3 business days.

With no ATM or debit card, this is a “true” savings account and all withdrawals must be made through ACH or wire. Withdrawals initiated through Vio Bank’s online banking platform are limited to $2k per outgoing ACH transaction, with an aggregate monthly total of $6k. Withdrawals initiated by an external bank have no dollar limits. There is a $10 excessive transaction fee “for each limited withdrawal in excess of six withdrawals per monthly statement cycle.”

Potential Fees

While there is no monthly maintenance or service fee, there are other potential charges, including,

  • $5 per month after 12 months of inactivity
  • $5 per month for paper statements
  • $18 for an outgoing domestic wire and $15 for an incoming international wire


Multiple payable-on-death (POD) beneficiaries are allowed and Social Security numbers are NOT required for beneficiaries. While there is no set limit on the number of beneficiaries permitted, the online application only allows for two beneficiaries to be named at a time. While charities/non-profits cannot be named as a beneficiary, trusts can.


Vio Bank offers accounts to US persons, defined as “a citizen or resident of the United States,” 18 years or older with a valid Social Security number.

Only individual and joint accounts can be opened with Vio Bank. Custodial accounts and trust accounts are not permitted, but as mentioned above, trusts can be named as a beneficiary.

As an internet bank, Vio Bank has no brick-and-mortar branches. Opening a High Yield Online Savings account can only be done online.

Bank Overview

As an online division of MidFirst Bank, Vio Bank operates under MidFirst Bank’s FDIC Certificate and shares its financial history.

Vio Bank/MidFirst Bank has an overall health grade of "A" at, with a Texas Ratio of 4.67% (excellent) based on June 30, 2018 data. In the past year, the Bank increased its total non-brokered deposits by $578.82 million, an excellent annual growth rate of 7.59%. Please refer to our financial overview of Vio Bank/MidFirst Bank (FDIC Certificate # 4063) for more details.

Note: According to Vio Bank’s FDIC Coverage page,

Deposits held at Vio Bank are deposits of MidFirst Bank and are combined with any other MidFirst Bank deposits for FDIC insurance purposes. MidFirst Bank deposits includes deposits at MidFirst Bank and any of its divisions including Vio Bank, MidFirst Private Bank, 1st Century Bank, and MidFirst Direct.

As mentioned above, MidFirst Direct is also a division of MidFirst Bank. Like Vio Bank, MidFirst Direct offers an online savings account and online CDs. I first reported on MidFirst Direct in 2012 when it offered very competitive online CD rates. We began tracking MidFirst Direct’s savings account in January 2016 when the rate was 0.45%. The rate has risen, but it is still low when compared to other internet savings accounts. For current rates and rate histories, please refer to the rates section of our MidFirst Direct information page.

MidFirst Bank, one of the five largest privately-owned banks in the United States, traces its roots to Midland Mortgage Company, which was founded in 1950 by a group of Oklahoma City area bankers. The name was changed to MidFirst Bank in 1982, following the purchase of a thrift charter. Through continued growth and market expansion, today’s MidFirst Bank has assets in excess of $15.3 billion and 78 branch locations in Colorado, Oklahoma, and Arizona.

How the High Yield Online Savings Compares

When compared to the Savings Accounts tracked by that are available nationwide, Vio Bank’s High Yield Online Savings APY currently shares the top spot with MySavings Direct’s MySavings Account APY.

The above rates are accurate as of 11/20/2018.

To search for the best Savings Account, both nationwide and state specific, please refer to’s Savings Account Rates page.

Related Pages: savings accounts, nationwide deals, Internet banks

deplorable 1
deplorable 1   |     |   Comment #1
I'm watching this one closely as this appears to be the rate leader for a non-teaser account. I still have 2.5% @ EBSB for now but if that rate drops this is looking good.
DCGuy   |     |   Comment #3
MySavingsDirect savings account is also at 2.35%. Is that a teaser account?
deplorable 1
deplorable 1   |     |   Comment #5
True but with much more restricted ACH capabilities.
Test3   |     |   Comment #6
DCGuy, not necessarily. They were at 2.25% previously.
YieldTracker   |     |   Comment #8
I agree, I am sticking with the 2.5% EBSB for now with the majority of my funds until someone can crush that rate. The real advantage I see to EBSB is the DIF insurance. No need to have funds spread all over in $250K increments. My 2 EBSB 2.5% accounts can house up to $2M, fully insured! I guess we will see what happens if the Fed ups the rate again next month, or if someone steps up to beat their rate. That might prompt me to move $250K out, but it would take a rate drop from EBSB or a bunch of 2.75% players for me to clear out my EBSB right now.
Anonymous   |     |   Comment #14
EBSB is for a bunch of Liberal DEMOCRATS. I took my money out, or tried to. It was hard. They FROZEN my account. They STOPPED my ACH from my EBSB into my external linked checking account that was properly verified. Christina in the South Boston branch did this on her own. She is a puta as fat as I am concerned. I did advised the bank I will let every one know what kind of business they are running there. If you are from Boston, MA, well you probably be ok, but if you are an outsider, then for get it. When this PUTA stopped my account and stopped my ACH, she illegally cut a paper check and sent me my money via USPS. It took about a week for me to receive my money. The ACH should had hit on Friday, I didn't get my money until the following Friday. Also EBSB takes almost 2 whole working weeks or aprox 9 to 10 working days to clear your money. That is really bull. Again it's your money, you do what you wish, but the so called 2 5% APY is not worth the headaches.
#13 - This comment has been removed for violating our comment policy.
Att   |     |   Comment #2
I'm looking for 2.75% and move my money out of EBSB.
DCGuy   |     |   Comment #4
I'm still waiting for the 5% e-checking account rate that I had with Citibank back in 2006.
aaron  from philly
aaron from philly   |     |   Comment #12
How did you all find out about EBSB 2.5% ? I check sites this these often but I would have never found it without regarding the comment's section from you guys. Thanks!
Dom   |     |   Comment #15
It is in Personal Saving and $5000 up $10000 is 2.5%
YieldTracker   |     |   Comment #7
One thing I would like to add to Kens comments above, Vio actually changed their ACH limits on external transfers using their internal system on October 26th, 2018. Ken mentions above that the internal ACH limit is $2K Daily & $5G monthly. The new limit in effect is $5K daily and $20K monthly. You can view the new updated internet & mobile banking agreement here at:

In the above document, Section 8(f) states:
"External Transfers (inbound and outbound combined) are limited to and may not exceed $5,000 daily and per transaction and are limited to and may not exceed $20,000 per calendar month. Furthermore, the number of both inbound and outbound External Transfers is limited to five (5) transfers daily and nine hundred and ninetynine (999) per calendar month"

Still pretty low internal ACH transfer limits. But it is a step in the right direction. I fund/withdrawal from my vio account externally using Purepoint for push/pull and have been had no problem moving 6 figures daily this way when needed.
myounger   |     |   Comment #9
How are you able to move 6 figures daily when the monthly limit is $20K in and out combined? Please explain. Thanks!!
larry   |     |   Comment #10
(Comment #9)They are pulling it from another bank/cu.
YieldTracker   |     |   Comment #11
Larry is correct, I was referring to using the ACH system from Purepoint Financial (or any other online account with ACH capability) to pull money out or push money in. There is no daily limit on the amount you can push or pull using someone elses system. The limitations are only when using the internal Vio bank ACH system. Hopefully they will eventually up their own transfer limits to a reasonable limit and this will not be necessary. But for now it is good to know that is can be done this way.
Vio Bank Ups High Yield Online Savings APY
Deal Summary: High Yield Online Savings, 2.25% APY on all balances, $100 min opening deposit.

Availability: Nationwide (internet bank)

In early August, MidFirst Bank’s newest internet division, Vio Bank, opened its virtual doors for business. The inaugural product line included a variety of CDs and the High Yield Online Savings account, which had an initial 2.10% APY. This morning, Vio Bank increased that rate to 2.25% APY on all balances.

Funding and Accessing

A High Yield Online Savings account can be opened with a minimum $100 deposit....

Continue Reading
Vio Bank Opens Its Virtual Doors With Savings Account
Deal Summary: High Yield Online Savings, 2.10% APY on all balances, $100 min opening deposit.

Availability: National (internet bank)

About two weeks ago, Vio Bank, the new internet division of MidFirst Bank, opened its virtual doors for business. The product line debuted with a High Yield Online Savings account, earning 2.10% APY on all balances.

Funding and Accessing

The High Yield Online Savings account requires a minimum $100 opening deposit. The initial deposit must be made by ACH from the linked bank account named on the online...

Continue Reading

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