Note: Many readers have reported being rejected in the application for the Absolute Checking account.
WORST BANK EVER...They rejected my application for a checking account! I'm shocked...I have net worth of a million dollars and a high 800 credit score. No loans except a mortgage which is current. One credit card for 30 years with a high credit limit...also current...I've NEVER been late on any payments. Apparently I had too many inquiries? Well FDIC only insures up to 250K...DUH! They are turning away good customers...How STUPID! Don't know what kind of customers qualify...Maybe DEADBEATS? Don't waste your time applying at this bank
Alas, I was also rejected for the same reason as most-- too many inquiries (in other words, too many other reward accounts or CDs, etc.). My credit rating is likewise very high. But think about why they would want to reject someone like me... It's not because I'm a deadbeat and owe money or the like. It's because they know I will move a lot of money into their no-limit high-interest account but I will NOT in turn borrow money from them for a mortgage. They also know (based on the # of bank inquiries) that I will turn around and move ALL my money out of their account as soon as their interest rate drops or I can find a bank that will offer a higher interest rate. I was extremely upset that I was rejected for a CHECKING account, but in retrospect, I can understand why. (PS: No I don't work for them nor do I like their businsess practice. I think they should stop offering NATIONWIDE rewards checking and instead restrict it to their local area. They are obviously too small to deal with a lot of money flowing in and out and they will likely go belly-up trying to pay out the high interest. Just look at what happened to CBDirect - they offered 3% on no-max-balance and now they are bankrupt.)
I had the same problem as others and was rejected because of the report from Checksystems (too many inquiries). I sent an e-mail to the President of the Bank and followed up with a call. I received a call from a woman in the President's office and she was able to get everything resolved. It was definately not easy to open an account. I have been a customer for two months and so far everything is going fine.
I opened an account with viewpoint online and via the mail this month and did not have any problems...it was completely painlessly. I forgot to answer one of the questions and a representive called me to get the information over the phone so that she could complete the account activation right then and not send the paperwork bank to me in the mail to update. I received my debit card and free checks in less than a week. I don't have any credit card debt and I have multiple checking and savings accounts.
The Texas Ratio is an indicator of how much funds a bank has available compared to the total value of loans considered at risk. As of December 31, 2013 ViewPoint Bank, National Association had $20.09 million in non-current loans and owned real-estate with $461.99 million in equity and loan loss allowances on hand to cover it. This gives ViewPoint Bank, National Association a Texas Ratio of 4.35% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
The Texas Ratio for ViewPoint Bank, National Association decreased slightly from 6.14% as of December 31, 2012 to 4.35% as of December 31, 2013, resulting in a positive change of 29.22%.This indicates that the balance sheet and financial strength for ViewPoint Bank, National Association has improved slightly in recent periods.
In the past year, ViewPoint Bank, National Association has increased its total deposits by $83.19 million, resulting in 3.69% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth ViewPoint Bank, National Association has shown is excellent.
Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. ViewPoint Bank, National Association has $3.52 billion in assets with $461.99 million in equity, resulting in a capitalization level of 13.11%, which is excellent.
|FDIC Certificate #||58006|
|Assets and Liabilities|
|Equity Capital||$442.64 million|
|Loan Loss Allowance||$19.36 million|
|Unbacked Noncurrent Loans||$19.61 million|
|Real Estate Owned||$478,000|
|Historic Data - December 2012|
|Equity Capital||$419.87 million|
|Loan Loss Allowance||$18.05 million|
|Unbacked Noncurrent Loans||$19.61 million|
|Real Estate Owned||$1.89 million|
|Profit Margin - Quarterly|
|Net Interest Margin||3.74%|
|Return on Assets||0.95%|
|Return on Equity||7.7%|
|Interest Income||$142.42 million|
Always verify rates and promotions with the bank or credit union. We are not ViewPoint Bank, National Association, we are a rate comparison website and can not provide official rates or promotions.
|0.30%||$100k||-||Platinum Premier Savings|
|0.05%||$100||-||Kid's Club Savings|
|0.05%||$25||-||Coverdell Education Savings|
|0.05%||$1k||-||IRA Ultimate Savings|
|0.05%||$250||-||SEP IRA Savings|
|0.05%||$1k||-||SEP IRA Ultimate Savings|
|0.05%||$250||-||Roth IRA Savings|
|0.05%||$1k||-||Roth IRA Ultimate Savings|
|0.20%||$7,500||-||Business Money Market Account (More Moolah)|
|0.15%||$50k||-||Money Market Checking|
|0.15%||$10k||-||Money Market Savings|
|0.85%||$1k||-||60 Month Regular CD|
|0.55%||$1k||-||48 Month Regular CD|
|0.50%||$1k||-||36 Month Regular CD|
|0.45%||$1k||-||24 Month Regular CD|
|0.35%||$1k||-||18 Month Regular CD|
|0.25%||$1k||-||12 Month Regular CD|
|0.15%||$1k||-||6 Month Regular CD|
|0.10%||$100||-||12 Month Regular Start-Up CD|
|0.05%||$1k||-||3 Month Regular CD|
|0.85%||$1k||-||60 Month IRA (Traditional,SEP,Roth)|
|0.55%||$1k||-||48 Month IRA (Traditional,SEP,Roth)|
|0.50%||$1k||-||36 Month IRA (Traditional,SEP,Roth)|
|0.45%||$1k||-||24 Month IRA (Traditional,SEP,Roth)|
|0.35%||$1k||-||18 Month IRA (Traditional,SEP,Roth)|
|0.25%||$1k||-||12 Month IRA (Traditional,SEP,Roth)|
|0.15%||$1k||-||6 Month IRA (Traditional,SEP,Roth)|
|0.10%||$100||-||12 Month IRA Start-Up (Traditional,SEP,Roth)|
|0.10%||$100||-||12 Month Coverdell Educational Savings CD|
|0.05%||$1k||-||3 Month IRA (Traditional,SEP,Roth)|