Citizens Access™ vs. Varo Bank
Compare rates, requirements, and features side-by-side to find the best option for you.
| Metric | Citizens Access™Citizens Access® Savings Jan 21, 2026 | Varo BankHigh-Yield Savings Account Jan 21, 2026 |
|---|---|---|
| APY | 3.15% | 2.50% - 5.00% |
Est. Earnings | $5,000+$158 $10,000+$315 $25,000+$788 | $5,000+$250 $10,000+$375 $25,000+$750 |
Min Deposit | $0.01 | $0 |
Snapshot view. Rates subject to change. | ||
Terms | - | Earn 5.00% APY on up to $5,000 and 2.50% APY on the rest. A Varo bank account & direct deposit required. |
| Features | FDIC InsuredNo MinimumsGreat iOS AppGreat Android App | FDIC InsuredNo MinimumsGreat iOS AppGreat Android AppZelle® SupportedDirect Deposit ReqChecking Bundle |
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
As of Citizens Access™ offers an APY of 3.15% 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 pays $60 more than Citizens Access™ on a $10,000 balance after one year. Citizens Access™ pays $315, while Varo Bank pays $375 (with an effective APY of 3.75%) - an APY advantage for Varo Bank.
Why Citizens Access™?
- ✓No checking account or direct deposit required
Why Varo Bank?
- ✓Higher potential APY (5.00% vs 3.15%) on balances up to $5,000 (requires checking bundle & direct deposit)
- ✓Fast transfers via Zelle®
— Key Feature Differences —
Better Returns at $10,000
Varo BankVaro Bank's High-Yield Savings Account earns more on smaller deposits (approx. $375 vs $315/yr).
Better Returns at $25,000
Citizens Access™Citizens Access™'s Citizens Access® Savings pulls ahead with larger amounts (approx. $788 vs $750/yr).
Best for Simplicity
Citizens Access™Citizens Access™'s Citizens Access® Savings offers 3.15% 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 $60 more interest on a $10,000 balance than Citizens Access™'s Citizens Access® Savings.
*This calculation assumes current rates remain consistent for 1 year and does not include temporary bonuses.
Executive Summary as of
Varo Bank offers a High-Yield Savings Account with a competitive 5.00% APY on deposits up to $5,000, requiring a Varo bank account and a minimum direct deposit of $1,000 per month. In contrast, Citizens Access™ provides a Citizens Access® Savings account with a lower APY of 3.15%, but it has no direct deposit requirement or caps, making it simpler for customers. Both accounts are online-only and have no maintenance fees. While Varo Bank's account yields a higher return, it requires additional conditions, whereas Citizens Access™ focuses on ease of access.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
Non-sponsored link to official site
Non-sponsored link to official site
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Citizens Access™ vs. Varo Bank Savings Calculator
You earn $60 more with Varo Bank than Citizens Access™ on a $10,000 initial deposit for 1 year*.
*This calculation assumes that APYs remain unchanged for 1 year, and takes into account known promo rate periods, but does not factor in bonuses. You can see how often these banks have changed their rates in the Compare Savings Rates Over Time section below.
Citizens Access™
Citizens Access® Savings
Savings Breakdown
- Interest Earned+$315.00(3.1%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,315.00
Varo Bank
High-Yield Savings Account
5.00% on first $5,000 and 2.50% thereafter.
Savings Breakdown
- Interest Earned+$375.00(3.6%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,375.00
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
| Feature | Citizens Access™ | Varo Bank |
|---|---|---|
| APY | 3.15% Verified: 1/21/2026 ↘︎ 0.35%90d Change | 5.00% Range: 2.50% - 5.00% Verified: 1/21/2026 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 Android4.9 | iOS4.9 Android4.6 |
| Zelle® Support | Not Supported | Available Requires history of qualifying direct deposits. |
| 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 | Visit SiteVerify at Citizens Access™ Non-sponsored link to official site | Visit SiteVerify at Varo Bank Non-sponsored link to official site |
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | Citizens Access™ | Varo Bank |
|---|---|---|
| Citizens Access® Savings | High-Yield Savings Account | |
Current APY | 3.15% | 5.00% |
Trend | Stable | Stable |
Velocity (bps/mo) | -5.0 | 0.0 |
Days Since Change | 42 | 357 |
12-Month High | 3.70% | 5.00% |
12-Month Low | 3.15% | 5.00% |
Adjustments / Mo | 0.25 | 0.00 |
Volatility Score | 0.055 | 0.000 |
How to read these metrics(Click to expand)
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