Citizens Access™ vs. Varo Bank
Citizens Access™'s Citizens Access® Savings pays 2.80% APY while Varo Bank's High-Yield Savings Account pays 3.75% APY.
Note: Varo Bank's High-Yield Savings Account also needs a checking account.
See how they compare on rate stability, mobile app ratings, and more below.
The Bottom Line
Who pays more interest on $10,000? Citizens Access™ pays $43 more than Varo Bank annually ($280 vs $237).
Choose Citizens Access™ if getting the best rate matters most, or you want a no-strings-attached account. Choose Varo Bank if you want Zelle for quick transfers.
Important Considerations
Varo Bank's High-Yield Savings Account pays its top rate only if you also open a checking account with Varo Bank, while Citizens Access™'s Citizens Access® Savings stands alone.
| Metric | Citizens Access™Citizens Access® Savings Sep 2, 2026 | Varo BankHigh-Yield Savings Account Sep 4, 2026 |
|---|---|---|
| APY | 2.80% | 1.00% - 3.75% |
Earns in a year | $5,000+$140 $10,000+$280 $25,000+$700 | $5,000+$187 $10,000+$237 $25,000+$387 |
Min. Deposit | $0.01 | $0 |
Snapshot view. Rates subject to change. | ||
Terms | - | Earn the stated APY on up to $5,000 and a lower APY on the rest. A Varo bank account & direct deposit required. |
| Features | FDIC InsuredNo MinimumsGreat iOS AppGreat Android AppDaily CompoundingRate Changes Often | FDIC InsuredNo MinimumsGreat iOS AppGreat Android AppZelle® SupportedDirect Deposit ReqChecking BundleDaily CompoundingRate Changes Often |
Market Reality Check
Both of these institutions offer rates below the top 10 savings and money market accounts we track. Those institutions all pay at least 4.01% APY.
Comparison Analysis
Comparing Citizens Access™ vs. Varo Bank
Executive Summary
Varo Bank offers a High-Yield Savings Account with a competitive APY of 3.75%, which is significantly higher than Citizens Access™'s Citizens Access® Savings at 2.80%. However, to earn the top rate, a Varo bank account and direct deposit are required. For deposits over $5,000, the rate drops to 1.00%. Citizens Access™ provides a straightforward savings option with no direct deposit requirement, making it more accessible for those who prefer not to link accounts. Both accounts are online-only and have no maintenance fees.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
Why Citizens Access™?
- No checking account or direct deposit required
Why Varo Bank?
- Higher potential APY (3.75% vs 2.80%) on balances up to $5,000 (requires checking bundle & direct deposit)
- Fast transfers via Zelle®
Key Feature Differences
Better Returns at $10,000
Citizens Access™Citizens Access™'s Citizens Access® Savings earns more on smaller deposits (approx. $280 vs $237/yr).
Better Returns at $25,000
Citizens Access™Citizens Access™'s Citizens Access® Savings pulls ahead with larger amounts (approx. $700 vs $387/yr).
Shared Benefits
Over a 1-year period, Citizens Access™'s Citizens Access® Savings pays $43 more interest on a $10,000 balance than Varo Bank's High-Yield Savings Account.
*This calculation assumes current rates remain consistent for 1 year and does not include temporary bonuses.
Non-sponsored link to official site
Non-sponsored link to official site
Top Market Contenders
Citizens Access™ vs. Varo Bank Savings Calculator
You earn $42.5 more with Citizens Access™ than Varo Bank 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+$280.00(2.7%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,280.00
Varo Bank
High-Yield Savings Account
Savings Breakdown
- Interest Earned+$237.50(2.3%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,237.50
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
Still at a large branch bank?
A typical branch-bank savings rate is 0.05% APY. On a $10,000 balance, the gap to these two banks is at least $232 a year in interest.
Both Citizens Access™ and Varo Bank advertise far more than that typical branch-bank rate.
| Feature | Citizens Access™ | Varo Bank |
|---|---|---|
| APY | 2.80% Observed: 9/2/2026 0.20%90-day change | 3.75% Range: 1.00% - 3.75% Observed: 9/4/2026 1.25%90-day change |
| 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 |
| Compound Frequency | Daily | Daily |
| In-Branch Access | No | No |
| Account Type | Online Only | Online Only |
| Physical Branches | Not reported | 1 (UT) |
| Direct Deposit Req. | None | Required |
| Checking Bundle | No | Yes |
| Mobile Apps | ||
| FDIC or NCUA Insured | YesVerify FDIC | YesVerify FDIC |
| Zelle® Support | Not Supported | Available Requires history of qualifying direct deposits. |
| BBB Rating | A+ | A |
| Important Notes | - | Earn the stated APY on up to $5,000 and a lower 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 | 2.80% | 3.75% |
Trend | Stable | Stable |
Speed of change | -0.08 | -0.06 |
Days Since Change | 34 | 64 |
12-Month High | 3.50% | 5.00% |
12-Month Low | 2.80% | 3.75% |
Changes per month | 0.33 | 0.08 |
Steadiness | 0.049 | 0.038 |
How to read these metrics(Click to expand)
Trends and speed
- Trend: The general direction of the rate over the analyzed period. Useful for seeing whether a bank is raising its rate or letting it slip.
- Speed of change: How fast the rate moves. A high positive number means they raise rates quickly. A reading of 0.10 is a tenth of a percentage point each month.
- Changes per month: How often the rate moves. A high number means it changes constantly; a low number means it holds.
Risk & Range
- High/Low: The absolute ceiling and floor of the rate during the 364-day window.
- Steadiness: How far the rate swings around its average. A lower score means a steadier, more predictable rate.
- Days Since Change: A high number, for example above 90, means the rate rarely moves. A low number means it changed recently.
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Compare Citizens Access™'s APY of 2.80% with other banks
| Bank Pair | Competitor APY | Min Deposit |
|---|---|---|
| Citizens Access™ vs Ally Bank | 3.00% | $0 |
| Citizens Access™ vs American Express | 3.00% | $0 |
| Citizens Access™ vs Axos Bank | 4.21% | $0 |
| Citizens Access™ vs Barclays | 3.65% | $0 |
| Citizens Access™ vs Capital One | 3.50% | $0 |
| Citizens Access™ vs Chime | 3.75% | $0 |
| Citizens Access™ vs CIT Bank | 3.75% | $100 |
| Citizens Access™ vs EverBank | 3.90% | $0 |
| Citizens Access™ vs Marcus by Goldman Sachs | 3.40% | $0 |
| Citizens Access™ vs Newtek Bank | 4.20% | $100 |
| Citizens Access™ vs Openbank | 3.80% | $500 |
| Citizens Access™ vs Pibank | 4.10% | $0 |
| Citizens Access™ vs SoFi Bank | 4.00% | $0 |
| Citizens Access™ vs Synchrony Bank | 3.30% | $0 |
| Citizens Access™ vs Wealthfront | 3.95% | $0 |