Citizens Access vs. Varo Money
High-Yield Savings Account Comparison
By Aviel Fahl|Last Updated: November 16, 2025
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Summary of Citizens Access™ vs. Varo Bank
Key Metrics at a Glance
| Feature | Citizens Access™ | Varo Bank |
|---|---|---|
| Top Savings APY | 3.35% Citizens Access® Savings | 5.00% High-Yield Savings Account |
| Minimum to Open | $0.01 | $0 |
| Minimum Balance for Top APY | $0.01 | $0.01 |
| Note | Earn 5.00% APY on up to $5,000 and 2.50% APY on the rest. A Varo bank account & direct deposit required. |
Citizens Access™
Strengths
- Citizens Access™ has no direct deposit requirement for its savings account.
- Citizens Access™ offers a competitive APY of 3.35%, though it decreased from 3.50% last month.
- Citizens Access™ has a strong BBB rating of A+.
Potential Drawbacks
- Citizens Access™ has a lower APY compared to Varo Bank's 5.00%.
- Citizens Access™ does not have any physical branches.
Varo Bank
Strengths
- Varo Bank offers a high APY of 5.00%, unchanged from last month.
- Varo Bank's app ratings are higher, with 4.9 on App Store and 4.6 on Google Play.
- Varo Bank is also BBB Accredited with a rating of A.
Potential Drawbacks
- Varo Bank requires direct deposit of at least $1,000/month to earn the highest APY.
- Varo Bank has no physical branches.
→ As of November 16, 2025 Citizens Access™ offers an APY of 3.35% for its Citizens Access® Savings account, with a minimum balance of $0.01, compared to Varo Bank's 5.00% APY for its High-Yield Savings Account, with a minimum balance of $0.01.
→ Varo Bank yields $40 more than Citizens Access™ on a $10,000 balance after one year. Citizens Access™ pays $335, while Varo Bank pays $375 (with an effective APY of 3.75%) - an APY advantage for Varo Bank.
Calculate Savings Growth for Citizens Access™ vs Varo Bank
Citizens Access™ - Citizens Access® Savings
Total savings breakdown:
- Interest earned: $2,018.8 (10.08%)
- Total contributions: $13,000 (64.94%)
- Initial deposit: $5,000 (24.98%)
Your total balance
$20,018.80
Total balance: $20,018.8
Earnings: $2,018.8
Bank OverviewVaro Bank - High-Yield Savings Account
ℹ️You earn 5.00% on the first $5,000 and 2.50% on the rest.
Total savings breakdown:
- Interest earned: $2,211.4 (10.94%)
- Total contributions: $13,000 (64.32%)
- Initial deposit: $5,000 (24.74%)
Your total balance
$20,211.40
Total balance: $20,211.4
Earnings: $2,211.4
Bank OverviewWith a $5,000 initial deposit and $13,000 in total contributions over 5 years, Citizens Access™'s total earnings would be $192.6 lower than Varo Bank's total earnings.
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
Compare Citizens Access™'s vs Varo Bank's Savings Accounts
| Citizens Access™ | Varo Bank | ||
|---|---|---|---|
| Product | Citizens Access® Savings | vs | High-Yield Savings Account |
| APY | 3.35% (as of 11/16/2025) | 2.50% - 5.00% (as of 11/16/2025) | |
| Bundled Account | No | Yes | |
| FDIC-insured | Yes | Yes | |
| Online Only | Yes | Yes | |
| Compound Frequency | Daily | Daily | |
| Minimum Deposit | $0.01 | $0 | |
| Minimum Balance for APY | $0.01 | $0.01 | |
| Maintenance Fee | $0 | $0 | |
| Direct Deposit Required | No | Yes. Min. $1,000/month | |
| Note | Earn 5.00% APY on up to $5,000 and 2.50% APY on the rest. A Varo bank account & direct deposit required. | ||
| App Store Rating | 4.8/5 | 4.9/5 | |
| Google Play Rating | 4.8/5 | 4.6/5 | |
| BBB Rating | A+ | A |
Comparative Historical APY Insights (Last 10 Months)
| Citizens Access™ | Varo Bank | ||
|---|---|---|---|
| Product | Citizens Access® Savings | vs | High-Yield Savings Account |
| Latest APY | 3.35 % | 5.00 % | |
| Trend | Sideways | Sideways | |
| Slope (bps/mo) | -3.6 | 0.0 | |
| Rate Changes / Mo | 0.21 | 0.00 | |
| Days Since Last Change | 17 | 291 | |
| High (-10 m) | 3.70 % | 5.00 % | |
| Low (-10 m) | 3.35 % | 5.00 % | |
| Draw-down from High | -9.5 % | 0.0 % | |
| Volatility (CV) | 0.034 | 0.000 |
APY Insights Glossary
- Latest APY
- Most recent advertised annual-percentage yield.
- Trend
- Direction over the last 10 months (regression slope).
- Slope (bps/mo)
- Average monthly change; 10 bps = 0.10 pp.
- Rate Changes / Mo
- Typical number of APY moves per month.
- Days Since Last Change
- Recency of the latest APY adjustment.
- High (-10 m)
- Highest APY in the last 292 days.
- Low (-10 m)
- Lowest APY in the last 292 days.
- Draw-down from High
- How far today sits below the 10-month peak.
- Volatility (CV)
- Coefficient of variation = stdev ÷ mean.
Why Track Savings-Account APYs?
- See how quickly a bank reacts to Fed moves or competition.
- Gauge “twitchiness” - frequent moves can annoy savers.
- Spot if you're buying near a peak (draw-down) or riding a rise.
- Slope (bps/mo) shows speed of change.
- Volatility (CV) scales jumps by average level.