Based in 1927, Valley Financial institution is a regional financial institution with $64 billion in belongings as of the primary quarter of 2023. Bauer Monetary offers it a stability ranking of 5 stars.
Valley Financial institution has greater than 200 department and business banking areas throughout Alabama, Florida, New Jersey, New York, California .
Valley Financial institution choices
Valley Financial institution has an in depth providing of deposit accounts to assist prospects handle and develop their cash, together with checking, financial savings, cash market, and CD accounts.
Checking and financial savings accounts
There are a number of checking account choices at Valley Financial institution to satisfy the wants of nearly anybody. Checking accounts additionally provide the chance to earn money again rewards (the precise quantity is determined by particular account). Moreover, Valley Financial institution presents one fundamental financial savings account. At the moment, there is no such thing as a high-yield savings account possibility.
- All Entry Rewards Checking
- APY: None
- Minimal opening deposit: $100
- Minimal steadiness: $0
- Charges:
- Month-to-month charge: None
- Overdraft charge: $36
- ATM charge: $2 (non-Valley ATM), $5 (worldwide)
- Inactivity charge: $15 per 30 days for accounts with no deposit or withdrawal exercise for a interval of 12 months
- Curiosity Checking Plus
- APY: 0.02%
- Minimal opening deposit: $100
- Minimal steadiness: $1,000
- Charges:
- Month-to-month charge: $15 if steadiness falls beneath minimal
- Overdraft charge: $36
- ATM charge: $2 (non-Valley ATM), $5 (worldwide)
- Inactivity charge: $15 per 30 days for accounts with no deposit or withdrawal exercise for a interval of 12 months
- My Alternative Teen Valley Checking
- For teenagers aged 13-16
- Minimal opening deposit: $25
- Minimal steadiness: $0
- Charges:
- Month-to-month charge: $15 if steadiness falls beneath minimal
- Overdraft charge: $36
- ATM charge: $2 (non-Valley ATM), $5 (worldwide)
- Inactivity charge: $15 per 30 days for accounts with no deposit or withdrawal exercise for a interval of 12 months
- My Alternative Checking
- For younger adults aged 17-25
- Minimal opening deposit: $25
- Minimal steadiness: $0
- Charges:
- Month-to-month charge: None
- Overdraft charge: $36
- ATM charge: as much as $20 month-to-month rebate, then $2 (non-Valley ATM), $5 (worldwide)
- Inactivity charge: $15 per 30 days for accounts with no deposit or withdrawal exercise for a interval of 12 months
- My Loyalty Checking
- Accessible to Valley Mortgage Clients with out an present Valley checking account
- Minimal opening deposit: $100
- Minimal steadiness: $0
- Charges:
- Month-to-month charge: $25 (waived so long as Valley mortgage is retained and three month-to-month recurring on-line invoice funds or a recurring qualifying direct deposit of $750 or higher is ready up, or common month-to-month steadiness of $1,000 is maintained).
- Overdraft charge: $36
- ATM charge: as much as $10 month-to-month rebate, then $2 (non-Valley ATM), $5 (worldwide)
- Inactivity charge: $15 per 30 days for accounts with no deposit or withdrawal exercise for a interval of 12 months
- Milestone Checking
- For purchasers over age 55
- Minimal opening deposit: $100
- Minimal steadiness: $0
- Charges:
- Month-to-month charge: None
- Overdraft charge: $36
- ATM charge: $2 (non-Valley ATM), $5 (worldwide)
- Inactivity charge: $15 per 30 days for accounts with no deposit or withdrawal exercise for a interval of 12 months
- Choose checking
- APY: Bumps Premium Cash Market APY to 1.75%
- Minimal opening deposit: $100
- Minimal steadiness: $99
- Charges:
- Month-to-month charge: $15 if steadiness drops beneath minimal
- Overdraft charge: $36
- ATM charge: $2 (non-Valley ATM), $5 (worldwide)
- Inactivity charge: $15 per 30 days for accounts with no deposit or withdrawal exercise for a interval of 12 months
- Valley All Entry Financial savings
- APY: 0.85%
- Minimal opening deposit: $100
- Minimal steadiness: $0
- Charges:
- Month-to-month charge: None with common every day collected steadiness of $300 per 30 days
- Inactivity charge: $9 per quarter for accounts with no deposit or withdrawal exercise for a interval of 24 months and steadiness of lower than $1,000
Cash market accounts
Valley Financial institution additionally has a number of completely different money market deposit accounts, which reward depositors with greater charges on bigger balances.
- Cash Market Financial savings
- APY:
- 1.31% on balances from $10,000 as much as $1,000,000
- 0.50% on balances underneath $10,000 or over $1,000,000
- Minimal opening deposit: $10,000
- Minimal steadiness: $10,000
- Charges:
- Month-to-month charge: $25 if steadiness drops beneath minimal
- APY:
- Tiered Cash Market Financial savings
- APY:
- $0.01—$4,999: 0.60%
- $5,000—$24,999: 0.70%
- $25,000—$49,999: 0.80%
- $50,000—$99,999: 0.90%
- $100,000—$499,999: 1.00%
- $500,000—$9,999,999: 1.35%
- $10,000,000 & above: 0.10%
- Minimal opening deposit: $2,000
- Minimal steadiness: $10,000
- Charges:
- Month-to-month charge: $25 if steadiness drops beneath minimal
- APY:
- Premium Cash Market
- APY:
- 1.00%
- With Choose Checking account: 1.75%
- Minimal opening deposit: $25,000
- Minimal steadiness: $10,000
- Charges:
- Month-to-month charge: $25 if steadiness drops beneath minimal
- APY:
Certificates of deposit
If you wish to earn greater rates of interest by retaining you cash on deposit longer, contemplate a certificates of deposit from Valley Financial institution, which supply a number of the best CD rates obtainable.
- Valley CDs
- APY:
- 6-month: 4.75% APY
- 12-month: 5.00%
- 19-month: 4.75%
- 36-month: 5.35%
- Minimal opening deposit: $500
- Charges:
- Month-to-month charge: Early withdrawal charge might apply; contact financial institution for contemporary charges
- APY:
Different companies Valley Financial institution presents
As a full-service financial institution, Valley Financial institution presents all kinds of monetary services and products, together with:
- Particular person retirement accounts: Valley Financial institution presents each conventional and Roth IRAs, with a particular 18-month variable IRA that earns 5.22% (NJ and NY solely)
- Bank cards: There are a number of playing cards obtainable with a variety of advantages, from low introductory charges to journey rewards.
- Lending: Valley Financial institution supplies a wide range of loans, together with mortgages, refinancing, dwelling fairness loans and contours of credit score, life insurance coverage loans, auto loans, and private loans.
- Monetary planning: Clients can get help with asset administration, belief and property planning, and insurance coverage companies.
- Enterprise companies: Along with particular person accounts and companies, Valley Financial institution additionally supplies a number of enterprise merchandise, together with deposit accounts, bank cards, and loans.
The Valley Financial institution platform and buyer help
Valley Financial institution presents secure and safe on-line banking in order that prospects can handle their accounts any time, wherever. Moreover, it has a cell banking app (which has a 4.8 star ranking within the Apple retailer and a 4.5 star ranking on Google Play), in addition to a devoted mortgage app.
In case you need assistance or have questions, you may communicate with a Valley Financial institution consultant by calling 800-522-4100 or submitting a message on the financial institution web site.
Execs and cons of Valley Financial institution
You have got many selections in relation to the place you financial institution. So when you’re contemplating opening an account with Valley Financial institution, assessment these professionals and cons first:
Execs
- Many checking accounts to accommodate a wide range of prospects, from teenagers to seniors
- Aggressive CD charges
Cons
- Low deposit charges in comparison with opponents
- Minimal steadiness necessities for a lot of accounts
Regularly requested questions
Is Valley Financial institution and Valley Nationwide Financial institution the identical?
Sure. Valley Nationwide Bancorp, a regional financial institution holding firm headquartered in Wayne, New Jersey, does enterprise underneath the title Valley Financial institution.
How secure is Valley Nationwide Financial institution?
Valley Financial institution has been a good and trusted monetary establishment since 1927 with a historical past of strong monetary efficiency.
Is Valley Nationwide Financial institution FDIC insured?
Sure. Valley Financial institution is insured by the FDIC as much as $250,000 per depositor.