Valley National Bank Review
This article explains all you need to know about Valley National Bank.
About Valley National Bank
The bank is a suitable choice for people in Alabama, Florida, New Jersey and New York who seek basic personal or commercial banking products and access to branches.
Valley National Bank is a regional bank that provides personal and business banking services.
Valley National Bank Pros
* Valley National Bank offers both branch and online banking. Its products cater to both consumers and businesses.
Valley National Bank Cons
* Valley branches in Alabama, Florida, New Jersey and New York. It’s not a good choice for high-yield savers.
In addition to the 18-month “floating” CD, Valley National Bank provides 11 other CD durations ranging from 91 days to 60 months. Valley’s term CDs demand a $500 initial deposit. It also has jumbo and step-up CDs.
* A $500 initial deposit for a term CD is fair. Valley offers a 91-day CD for customers who don’t want to lock money up. On-demand CD-ROM.
* APYs aren’t competitive.
Valley’s All Access Savings account starts at $100. To avoid a $5 monthly maintenance fee, hold a balance of $300 online or $500 in a branch. It includes an ATM card, online and mobile banking, and electronic statements. But the APY is low.
The overdraft cost is $36. The fee is $5 per transfer. There are no restrictions on where you can use the account.
* The All Access Savings account starts at $100. There’s an ATM card, online and mobile banking, and e-statements with All Access
* Other banks provide higher APYs on savings. A $5 monthly fee applies unless you maintain a minimum amount. Only a few states allow the account.
Opening a Valley All Access Rewards Checking account costs $100. The account has a monthly service cost of $15 unless a balance of $99 is maintained, although this fee is waived for the first year. The account also provides a $20 monthly bonus for a year, totaling $240, when a cumulative monthly direct deposit of $750 is set up.
It includes a debit card, online and mobile banking, bill pay, and mobile deposits.
Earn $20 monthly for the first year with qualifying direct contributions of $750 or more.
* Open an account online or in a branch. It has a debit card.
* Current Valley National Bank checking clients cannot open an All Access Rewards Checking account. A balance enquiry at an out-of-network ATM costs $2. Valley costs $5 for a new debit card.
Valley National’s Premium Money Market account yield is marginally over the national average and substantially below the market rate. It pays a higher APY if linked to a Select Checking account. The MMA requires a $25,000 deposit and a $10,000 balance to avoid a $25 monthly service cost.
It includes free mobile and online banking.
* A Premium Money Market account linked to a Select Checking account gives a better rate. Mobile and online bill pay are included with Premium Money Market.
* The Premium Money Market requires a $25,000 initial deposit A daily balance of $10,000 or more is required to avoid a $25 monthly service fee. Only specific states’ residents can open an account.
The Valley National Bank app is well-liked by iOS and Android users. The bank also offers telephone banking and Zelle payments. In addition to Apple Pay, the Valley Visa debit card supports Google Pay.
Customer support is offered by phone, email, and in person at the bank’s branches. Check ahead of time if you need to make an appointment to visit a branch.
Valley National Bank locations
Valley National Bank has 226 locations throughout Alabama, Florida, New Jersey, and New York. Its headquarters are in Passaic. Valley National Bancorp has around $41 billion in assets.
Valley National Bank: Conclusion
Thanks for taking the time to read this blog post on Valley National Bank.