What You Need to Open a VIO Bank Account
VIO Bank is an online savings bank that does not have physical branches. To open an account, you will need a valid government-issued ID, a Social Security number, and a way to verify your identity through video call or document upload. You can start the process entirely online from your computer or phone, and the bank will ask you to link a bank account for initial funding.
The entire process typically takes 10 to 15 minutes to complete. VIO Bank does not charge monthly maintenance fees, and there is no minimum balance requirement to open or keep the account open. The account becomes active once your identity is verified, which usually happens within one business day.
Key Takeaways
- You will need a valid government ID, Social Security number, and a linked bank account to fund your VIO Bank savings account.
- The online application takes about 10 to 15 minutes and can be completed on a computer or phone.
- VIO Bank verifies your identity through video call or document upload, and your account becomes active within one business day in most cases.
- There are no monthly fees or minimum balance requirements, though the interest rate on savings varies and is set by the bank.
- You can transfer money in and out using ACH transfers from another bank account, though transfers typically take one to three business days.
Step-by-Step Process to Create Your Account
Start by visiting the VIO Bank website and clicking the button to open a new savings account. You will be asked to enter your email address and create a password. The bank will then ask for your full name, date of birth, Social Security number, and current address. Have your government-issued ID ready—a driver's license, passport, or state ID card all work.
After you enter your personal information, VIO Bank will ask you to verify your identity. You can choose between a video call with a VIO Bank representative or uploading a photo of your ID and a selfie. The video call method is usually faster and takes about five minutes. If you choose the document upload route, the bank reviews your photos and typically confirms your identity within a few hours.
Once your identity is confirmed, you will link a bank account to fund your VIO Bank savings account. Enter the routing number and account number from the bank where you currently have money. VIO Bank will make two small test deposits to that account (usually under $1 each) and ask you to confirm the amounts. This step protects both you and the bank by proving you control the account you are linking.
After you confirm the test deposits, your VIO Bank savings account is open and ready to use. You can then transfer money from your linked bank account into your VIO Bank savings account using ACH transfer, which typically takes one to three business days.
What Happens After Your Account Opens
Your VIO Bank savings account will show a current interest rate when you log in. This rate changes periodically based on market conditions and VIO Bank's decisions. Interest accrues daily and is deposited into your account monthly. You can check your current rate and balance anytime by logging into your online account.
You can transfer money out of your VIO Bank account back to your linked bank account at any time. The transfer takes one to three business days to appear in your other account. VIO Bank does not charge fees for transfers in or out, though your other bank may charge a fee on their end—check with them first.
If you need to add another bank account to link to your VIO Bank savings account, you can do that in your account settings. You will go through the same verification process with the test deposits for any new account you link.
Identity Verification Methods and Timing
VIO Bank offers two ways to verify who you are: video call or document upload. The video call method connects you with a VIO Bank representative who will ask you to show your ID and take a selfie while they watch. This usually takes about five minutes, and your identity is confirmed immediately. You can schedule a video call for a time that works for you, or do it right away if a representative is available.
The document upload method lets you photograph your ID and take a selfie on your phone, then upload both images through the VIO Bank app or website. The bank reviews these photos and typically confirms your identity within a few hours, though it can take up to one business day during busy periods. This method works well if you prefer not to do a video call or if you are opening your account outside business hours.
If VIO Bank cannot verify your identity through either method, they will contact you to ask for additional documents. This is rare but can happen if your ID photo is unclear or if there is a mismatch between your ID and the information you provided. The bank will tell you exactly what they need and how to send it.
Funding Your Account and Moving Money
After your account opens, you fund it by transferring money from another bank account you own. You will use your VIO Bank account number and routing number to receive transfers, or you can initiate transfers from your other bank's website or app by entering VIO Bank's routing number and your VIO Bank account number.
ACH transfers—the standard way to move money between banks—take one to three business days. Weekends and bank holidays do not count as business days, so a transfer you start on Friday afternoon may not arrive until Tuesday. VIO Bank does not charge fees for incoming or outgoing transfers, but confirm with your other bank that they do not charge on their end.
There is no minimum amount you must transfer into your VIO Bank account, and no limit on how much you can transfer at once. However, your other bank may have its own limits on how much you can transfer in a single day or month—check your account agreement or call them if you are unsure.
What to Do If Your Application Is Denied or Stalls
VIO Bank may deny your application if they cannot verify your identity or if there is a problem with your Social Security number or address. If this happens, the bank will send you an email explaining why. Read the reason carefully—it usually tells you what information did not match or what document they need.
If your identity verification stalls—for example, if your document upload is unclear—VIO Bank will contact you by email or phone to ask you to try again or provide different documents. Respond as soon as you can, because some verification requests expire after a certain number of days. If you miss the deadline, you may need to start the application over.
If you believe VIO Bank made a mistake, you can contact their customer service team through the website or by phone. They can review your application and tell you whether you can reapply or what steps to take next. Keep any emails or documents VIO Bank sends you, as these help explain what went wrong.
Frequently Asked Questions
Can I open a VIO Bank account if I do not have a Social Security number?
No. VIO Bank requires a valid Social Security number to open an account. If you have an Individual Taxpayer Identification Number (ITIN) instead, VIO Bank does not currently support that. You would need to look for a bank that works with ITIN holders.
How long does it take for my first transfer to show up in my VIO Bank account?
ACH transfers typically take one to three business days. If you start a transfer on a Friday, it may not arrive until Tuesday because weekends do not count as business days. VIO Bank will show the transfer as pending in your account while it processes.
What if I want to close my VIO Bank account later?
You can close your account anytime by logging in and contacting customer service or using the account settings menu. Transfer any remaining balance out first, or VIO Bank can send it to your linked bank account. There is no penalty for closing the account.
Can I open a VIO Bank account on my phone?
Yes. The VIO Bank app and website both work on phones and tablets. You can complete the entire process—application, identity verification, and linking your bank account—from your phone. Make sure you have good lighting for the selfie if you choose document upload verification.
Does VIO Bank report my account to credit bureaus?
No. VIO Bank is a savings bank and does not report savings account activity to credit bureaus. Opening a VIO Bank account will not affect your credit score, and the account will not show up on your credit report.