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  Virtual Bank Savings Account

Virtual Bank Savings Account

in Savings Accounts from Virtual Bank · fdic

Unaffiliated

Virtual Bank Savings Account

Unaffiliated

in Savings Accounts from Virtual Bank · Member FDIC

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Highlights
Monthly Fee N/A
APY (Annual Percentage Yield) 0.25% - 0.4%
APY Minimum Balance N/A

Virtual Bank Savings Account Review

Virtual Bank Savings Account is offered by Virtual Bank, a bank founded in 2009 and based in Trenton, NJ. Virtual Bank Savings Account is available in 50 states (and Washington, DC).

Key Takeaways
  • Higher than average APY. Virtual Bank Savings Account has an annual percentage yield of up to 0.4%, which is higher than the national average interest rate on savings accounts.
Virtual Bank savings account Pros & Cons
Pros Cons
  • Available in all 50 states.
  • Interest-yielding account.
  • No signup bonus.
  • Does not offer mobile check deposits.
  • Does not provide access to a nationwide ATM network.
  • Does not come with a debit card
  • Higher than average wire transfer fees.
Virtual Bank savings account FAQ

Are savings accounts from Virtual Bank federally insured?

Yes, your Virtual Bank savings accounts are insured up to $250,000 per person 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 Virtual Bank offer a signup bonus?

Virtual Bank savings account doesn't offer a signup bonus.

What is the minimum initial deposit for Virtual Bank savings account?

Virtual Bank Savings Account Minimums
Description

What APY does Virtual Bank offer?

Virtual Bank savings account offers an APY starting at 0.25% and ranging up to 0.4% (APY stands for annual percentage yield, rates may change).

What fees does Virtual Bank savings account charge?

Virtual Bank savings account does not charge a monthly service fee. See the fee breakdown section below to view all fees.

  • Outgoing domestic bank transfers come with a $25 fee.
  • Incoming domestic bank transfers come with a $15 fee.
  • Outgoing international bank transfers come with a $50 fee. You can save a ton of money in fees if you use use a nonbank money transfer service.
  • Incoming international bank transfers come with a $15 fee.
  • An overdraft on your account will trigger a $35 fee per item.
  • Virtual Bank savings account charges $10 every time you request a paper statement.

Does Virtual Bank savings account charge overdraft fees?

Yes, Virtual Bank savings account charges a $35 overdraft fee.

Virtual Bank savings account offers overdraft protection at a cost of $35 per transaction. This overdraft protection fee is charged every time the bank arranges a transfer from another one of your accounts, typically a savings account, to cover the overdraft.

What features and perks does Virtual Bank savings account offer?

This savings account includes the following features:

  • Mobile Banking Services - Virtual Bank savings account allows you to manage your money online or with a mobile app.

Can you set up a direct deposit to Virtual Bank savings account?

In most cases, the answer is yes. 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 Virtual Bank savings account?

The customer support email for Virtual Bank savings account is info@virtualbank.com.

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Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author’s alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.

Availability

  Available in 50 states and Washington, D.C.
  • Alaska
  • Alabama
  • Arkansas
  • Arizona
  • California
  • Colorado
  • Connecticut
  • Washington, DC
  • Delaware
  • Florida
  • Georgia
  • Hawaii
  • Iowa
  • Idaho
  • Illinois
  • Indiana
  • Kansas
  • Kentucky
  • Louisiana
  • Massachusetts
  • Maryland
  • Maine
  • Michigan
  • Minnesota
  • Missouri
  • Mississippi
  • Montana
  • North Carolina
  • North Dakota
  • Nebraska
  • New Hampshire
  • New Jersey
  • New Mexico
  • Nevada
  • New York
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Virginia
  • Vermont
  • Washington
  • Wisconsin
  • West Virginia
  • Wyoming

Feature Breakdown

Overdraft Item Fee $35
Overdraft Protection Fee (per transfer) $35
Paper Statement Fee $10
Returned Deposit Fee (Domestic) $5
Wire Transfer Fee - Domestic (Incoming) $15
Wire Transfer Fee - Domestic (Outgoing) $25
Wire Transfer Fee - International (Incoming) $15
Wire Transfer Fee - International (Outgoing) $50
Account Features Mobile Banking
APY (Annual Percentage Yield) 0.25% - 0.4%

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