Last Updated: 04/18/2025
The Freedom Bank of Virginia Business Savings
Unaffiliated
Last Updated: 04/18/2025
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Highlights
APY (Annual Percentage Yield)
0.10%(Verified 07/20/2024)
Minimum Opening Deposit
Starting at $25
Minimum Balance to Earn APY
$200
The Freedom Bank of Virginia Business Savings Review
The Freedom Bank of Virginia Business Savings is offered by The Freedom Bank of Virginia, a bank founded in 2001 and based in Fairfax, VA. The Freedom Bank of Virginia Business Savings are available in 50 states, 5 US territories, and Washington, DC.
Key Takeaways
- Low interest rate. The maximum annual percentage yield for this account is only 0.10%.
- No ATM fees. The Freedom Bank of Virginia Business Savings does not charge fees on ATM transactions .
The Freedom Bank of Virginia Business Savings Pros & Cons
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The Freedom Bank of Virginia Business Savings FAQ
Are business savings accounts from The Freedom Bank of Virginia federally insured?
Yes, your deposits are insured by the Federal Deposit Insurance Corporation (FDIC). The FDIC is an independent agency of the United States government that protects you against the loss of your insured deposits if an FDIC-insured bank or savings association fails. FDIC insurance is backed by the full faith and credit of the United States government.
Does The Freedom Bank of Virginia offer a signup bonus?
The Freedom Bank of Virginia Business Savings doesn't offer a signup bonus.
What is the minimum initial deposit for The Freedom Bank of Virginia Business Savings?
The minimum deposit to open a The Freedom Bank of Virginia Business Savings is $25.| Description | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Minimum Average Balance to Avoid Monthly Service Fee | Starting at $200 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Minimum Balance to Earn APY | $200 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Minimum Opening Deposit | Starting at $25 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
What APY does The Freedom Bank of Virginia Business Savings offer?
The Freedom Bank of Virginia Business Savings offers an APY of 0.10% (APY stands for annual percentage yield, rates may change).
The interest rate on a savings account or checking account can change based, in part, on what the Federal Reserve does. Note that the APY of a savings account is the amount of interest you will earn if you keep your money in the account for a full year expressed as a percentage. The difference between an APY and an interest rate is that the APY takes into account how often your money earns interest (or compounds). The more often your money compounds, the more it will earn. Business savings accounts with an interest rate that compounds daily, for example, will earn a higher return (and therefore a higher APY) than savings accounts that compound annually. What fees does The Freedom Bank of Virginia Business Savings charge?
The Freedom Bank of Virginia Business Savings does not charge a monthly service fee. See the fee breakdown section below to view all fees.
However, you can waive the monthly fees if you have a minimum daily balance of $200.
What features and perks does The Freedom Bank of Virginia Business Savings offer?
This savings account includes the following features:
- Free Online Bill Pay - Online Bill Pay allows you to pay bills easily from your account.
- Nationwide ATM network - Conveniently transact at a nearby ATM.
Can you set up a direct deposit to The Freedom Bank of Virginia Business Savings?
Yes, you can typically set up a direct deposit to this account. However, it depends on the direct deposit program your employer uses. Most direct deposit programs allow you to send your paycheck to a savings or checking account. In some cases, you can even split your paycheck between the two.
What is the customer support email for The Freedom Bank of Virginia Business Savings?
The customer support email for The Freedom Bank of Virginia Business Savings is info@freedom.bank.
Is The Freedom Bank of Virginia Business Savings legit?
The Freedom Bank of Virginia was founded in 2001; it is a well-established company that has been in business for 25 years.
Unfortunately, we don't have sufficient community reviews to provide a reliable rating of their user experience and customer service.
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Hours of Operation
Sunday
Closed
Monday
9:00AM - 5:00PM
Tuesday
9:00AM - 5:00PM
Wednesday
9:00AM - 5:00PM
Thursday
9:00AM - 5:00PM
Friday
9:00AM - 5:00PM
Saturday
Closed