Citizens Access™ vs. Varo Bank
Compare rates, requirements, and features side-by-side to find the best option for you.
Citizens Access™
Citizens Access® Savings
3.35%APYDec 5, 2025FDIC InsuredNo MinimumsGreat iOS AppGreat Android AppShow Fine Print & Trends Hide Details
Citizens Access™
Citizens Access® Savings
Varo Bank
High-Yield Savings Account
Up to5.00%APYDec 5, 2025FDIC InsuredDirect Deposit ReqChecking BundleNo MinimumsGreat iOS AppGreat Android AppRange: 2.50% – 5.00%Show Fine Print & Trends Hide Details
Varo Bank
High-Yield Savings Account
Prefer In-Person Banking?
Both of these banks are online-only. If you need physical branch access, check out our list of high-yield accounts with brick-and-mortar locations.
Comparison Analysis
Comparing Citizens Access™ vs. Varo Bank
Why Citizens Access™?
- ✓No checking account or direct deposit required
Why Varo Bank?
- ✓Higher potential APY (5.00% vs 3.35%) on balances up to $5,000 (requires checking bundle & direct deposit)
— Key Feature Differences —
Better Returns at $10,000
Varo BankVaro Bank's High-Yield Savings Account earns more on smaller deposits (approx. $375 vs $335/yr).
Better Returns at $25,000
Citizens Access™Citizens Access™'s Citizens Access® Savings pulls ahead with larger amounts (approx. $838 vs $750/yr).
Best for Simplicity
Citizens Access™Citizens Access™'s Citizens Access® Savings offers 3.35% APY with no bundling, direct deposit requirement or caps.
Best for All-in-One Banking
Varo BankVaro Bank's High-Yield Savings Account pays a superior APY for customers who also open a checking account.
Shared Benefits
Over a 1-year period, Varo Bank's High-Yield Savings Account pays $40 more interest on a $10,000 balance than Citizens Access™'s Citizens Access® Savings.
Executive Summary
Varo Bank offers a High-Yield Savings Account with a competitive 5.00% APY on balances up to $5,000, making it the clear winner for higher returns. However, this account requires a Varo bank account and a minimum direct deposit of $1,000 monthly. Citizens Access™ provides a solid alternative with its Citizens Access® Savings account, which features a 3.35% APY and no direct deposit requirement, making it simpler to manage. Both banks operate online only and have no maintenance fees, but Varo's account structure may limit its appeal due to the direct deposit condition.
Analysis generated based on current Banksparency database records
* AI-generated content provided for informational purposes only. Accuracy is not guaranteed; always verify details with the provider.
| Feature | Citizens Access™ | Varo Bank |
|---|---|---|
| APY | 3.35% Verified: 12/5/2025 ↘︎ 0.15%90d Change | 5.00% Range: 2.50% - 5.00% Verified: 12/5/2025 Stable (90d) |
| Product Name | Citizens Access® Savings | High-Yield Savings Account |
| Minimum Deposit | $0.01 | $0 |
| Min. Balance for APY | $0.01 | $0.01 |
| Monthly Fee | $0 | $0 |
| Branch Access | None | None |
| Account Type | Online Only | Online Only |
| Direct Deposit Req. | None | RequiredMin. $1,000/month |
| Checking Bundle | No | Yes |
| Mobile Apps | iOS4.8 Android4.8 | iOS4.9 Android4.6 |
| BBB Rating | A+ | A |
| Important Notes | - | Earn 5.00% APY on up to $5,000 and 2.50% APY on the rest. A Varo bank account & direct deposit required. |
| Next Steps |
Savings Comparison
Varo Bank earns $192.6 more than Citizens Access™.
Citizens Access™
Citizens Access® Savings
Savings Breakdown
- Interest Earned+$2,018.80(10.1%)
- Total Contributions$13,000
- Initial Deposit$5,000
Projected Balance
$20,018.80
Varo Bank
High-Yield Savings Account
5.00% on first $5,000 and 2.50% thereafter.
Savings Breakdown
- Interest Earned+$2,211.40(10.9%)
- Total Contributions$13,000
- Initial Deposit$5,000
Projected Balance
$20,211.40
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | Citizens Access™ | Varo Bank |
|---|---|---|
| Citizens Access® Savings | High-Yield Savings Account | |
Current APY | 3.35% | 5.00% |
Trend | Stable | Stable |
Velocity (bps/mo) | -3.8 | 0.0 |
Days Since Change | 37 | 312 |
10-Month High | 3.70% | 5.00% |
10-Month Low | 3.35% | 5.00% |
Adjustments / Mo | 0.19 | 0.00 |
Volatility Score | 0.037 | 0.000 |
How to read these metrics(Click to expand)
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