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Capital One 360 VS Vio Bank

Which bank is better for you?

  • Financial Rates: 5.0 Star Icon
  • Customer Service: 5.0 Star Icon
  • Website Experience: 5.0 Star Icon
  • Bank Fees: 5.0 Star Icon
No Rate Information
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Pros:

  • Free checking account for teens
  • No fees for any accounts
  • Interest earning account for kids
  • High-interest rate on money market

Cons:

  • Large amount required for highest rates
  • Must link savings to checking account
  • Teen accounts do not offer checks
  • No ATM fee refunds
  • Financial Rates: 5.0 Star Icon
  • Customer Service: 5.0 Star Icon
  • Website Experience: 5.0 Star Icon
  • Bank Fees: 5.0 Star Icon
2.52%APY
Savings/MMA
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Pros:

  • Competitive interest rates
  • Low required opening amounts
  • Variety of CD terms available
  • No monthly fees

Cons:

  • Limited personal accounts offered
  • Customer service not available 24/7
  • No business accounts offered
  • Specific transfer regulations
Capital One 360 Review

The checking account for teens does not have any fees. The parent can receive text alerts when their account balance is running low. This checking account earns interest. No minimum amount required to open the account or to keep in the account.

There are no fees for any Capital One 360 accounts. There is no minimum required amount to open any of their accounts, or required to stay in the accounts. Capital One 360 accounts are free.

The Capital One 360 savings account for kids pays interest on any amount in the account. There are no fees and no amount required to keep in the account. You will earn the same interest on whatever the balance is. Kids can upload checks through their mobile app. Adults must sign in and use a pin to make transfers out of the savings account.

Capital One 360 offers high-interest rates for their money market accounts. The money market account does not have any fees, and there is no required amount to keep in the account.

To earn the high-interest rates for the money market account, you must have $10,000 deposited. You will earn lower interest rates for any amount under $10,000 in the money market account. To earn the highest interest the $10,000 is necessary.

Capital One 360 savings accounts must link to a checking account when opened. You can link the account to a Capital One 360 checking account or a checking account with another bank. However, the savings account must link to a checking account.

The Capital One 360 checking account comes with a debit card and the possibility of checks. The teen MONEY checking account only comes with a debit card. The teen account does not offer checks.

Capital One 360 does not offer refunds for fees charged at ATMs other than their own. If you use a non-Capital One ATM, you will be charged a fee. Capital One has over 39,000 ATMs across the U.S. Find a Capital One ATM on their website.

Read the full Capital One 360 review.

Vio Bank Review

Vio Bank offers competitive interest rates on their CDs and high yield savings account. The interest rates are much higher than typical brick and mortar bank rates. Vio Bank interest rates are competitive with other online accounts. They monitor their interest rates to keep them competitive with national rates.

Vio Bank accounts have low opening required amounts. All the different CD terms only require $500 to open. The high yield savings account only requires $100 to open.

Vio Bank offers a good variety of CD terms. The CDs range in length from six-month to 120-month terms. Each of the CDs requires $500 to open. They are all FDIC insured and can be opened online. The CD terms all earn competitive interest rates.

The savings account at Vio Bank does not have a monthly fee. There is no required balance to avoid a monthly fee. The CDs only have a fee if the money is withdrawn before the maturity date of the CD.

Vio Bank offers limited personal deposit accounts. Only a personal savings account and CDs are available. The CD terms range from six-months to 120-months. No checking or money market accounts are available.

Customers cannot reach a Vio Bank representative 24/7. Customer service has specific hours of operation. They are open Monday through Friday from 7:00 a.m. to 9:00 p.m. Central Time. Saturday they are open from 8:00 a.m. to 6:00 p.m. Sunday they open from 12:00 p.m. to 4:00 p.m.

Vio Bank does not offer business accounts. Only personal deposit accounts are available. Those accounts include a personal high yield savings account and CDs. The CDs range in term from six-month CDs to 120-month CDs.

Money can only be transferred from the savings account to external bank accounts. If you want to make a wire transfer, you must submit the forms 72 hours before the transfer takes place. Federal regulations only allow six withdrawals per month from your savings account.

Read the full Vio Bank review.

Favorite Rates

CIT Bank
Savings 08/16/2019
APY 2.30%
Rate 2.27%
For APY $100
Monthly Fee $0.00
Checkbook No
$25k+ balance or $100+/month deposit for 2.30% APY. Member FDIC.
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State Farm Bank
MMA 08/16/2019
APY 2.00%
Intro Rate 1.98%
Intro Duration 12 Months
Post Intro 1.00%
For APY $1,000
Monthly Fee $10.00
To Avoid Fee $500
Checkbook Yes
Intro APY, $1,000 to Open, $5,000 Min Bal post intro, See Limits
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