Valley National Bank engages in personal, commercial, corporate and institutional banking and offers depository products, loans, and insurance options to its customers and potential customers.
The bank makes several checking and savings accounts available, which include basic and senior checking as well as health and children’s savings accounts. Money Market accounts are available and differ from the savings accounts with regard to account requirements. CDs and IRA CDs are also offered with term lengths ranging from 7 days to 72 months.
Valley National Bank online banking is called VBankWorks and gives customers access to free online account management services. It offers them the ability to check account balances, view transaction history, transfer funds, and pay bills.
Valley National Bank was originally established in 1927 as the Passaic Park Trust Company, before changing to its current name in 1976. It is headquartered in Waynen, New Jersey and is the principal subsidiary of Valley National Bancorp, operating hundreds of branches predominantly in the states of New Jersey and New York.
Stay Away!
Before even considering doing any business with this bank, review all the comments on Doctor of Credit website.
https://www.doctorofcredit.com/al-ct-d-c-md-va-wv-fl-nj-ny-and-pa-only-valley-national-bank-400-checking-bonus-20-per-month/#comments
Withdrawal Hold
I opened a Valley National online account and verified my bank account information. My numerous deposits into the account. Valley then dropped the interest rates so I decided to withdraw my money. A screen comes up telling me my account is on hold because they can't verify my identity and won't let the transfer go through. It's funny when they never questioned the deposits in but take money out and they put a hold on your account. Called Customer Service. They put you through all these question, verify your identity, then they state they are going to recommend the hold be removed. Why can't they do it? After several hours I called back and had to do it all again. Same result. It seems to me they have no problem holding on to your money refusing to give back your own money. Do not use Valley National.
Don't Do Business With This Bank!
I had an automobile loan with these jokers. It's all paid off now. However, at the end of the loan we took a move from Florida to Illinois. For three (3) years I called, wrote letters and emails trying to get a change of address accomplished. How difficult is it for these lazy workers to type in the new address information, look it over for accuracy, and tap enter and then update? I didn't want my title going to my previous address, none of you reading this would want this for yourselves. My monthly statements were always mailed to our old Florida address for those 3 years, as well, but we always received their junk mail. You know, the start an account with us, or get approved for one of their credit cards. So you can clearly see, they changed our address for the crap but not where it counted. Put these jokers out of business and do business with your local credit unions. This bank sucks!
Valley National Bank - Fort Lee Palisades Branch - The Worst!
Absolute worst bank, do not trust them with your money. Customer service, without warning or reason, blocked my 87 year old mothers bank account and told me I had to go to the branch to unblock. I go there with my mom, immediately show our ids and ask them to unblock. I informed them I didn't have much time as i had to catch a flight. They precede to say they can't do anything without the branch where we originally opened the account. I explained the back office told us to go to any branch to unblock but they wouldn't listen. They continued to waste our time and call the branch we opened it at, and after wasting another 15min, the branch told them exactly what I told them, the back office needed to lift the block. Then an absolutely horrible employee Omar Marte, accuses me of kidnapping my mom and forcing her to take out the money for me!! Then he refuses to let her withdraw any funds from her account even though she was there in person with picture ID. I would like to file a formal complaint against Omar Marte. The amount of stress this branch gave me and my 87 yo mom today is unacceptable. The fact that they did not allow my mom access to her money is unacceptable! Me being accused of being a criminal is unacceptable! Also, the people at the branch do not know what they are doing!!
Rejected By Chex
I just tried to open a high-yield savings and was rejected. Was also interested in their 3-yr flex rate CD. There is no clear reason why (no bounced checks in years) or easy way to resolve, so I proceeded to my third choice, Vio Bank, and am awaiting comfirmation via micodeposits. Also, credit score of 692 is not mine. Discover Bank reports this on my account today: "Your FICO® Score 8 based on TransUnion® data: FICO score based on TransUnion data 850 Exceptional."
Unbearable
They always blamed on the Post Office when they have to send you a check . Bills and letter gets to your mail no problem. Checks always delay. I am be waiting for a check for 30 days and today they told me i have to wait for a new one because the one i was waiting for they don’t know what happened. This is the second time, not the first one. They retain the money to the min. Dealing with Valley has been so far a nightmare. I do not recommend business with this institution.
The Bank From The Pits Of Hell
I hate this bank with the biggest passion. In my lifetime, I have never had such issues with wire transfers, bank accounts, statements, and everything else. I had a kid passbook savings account and they wouldn't let me change it to a regular account, and when I changed it, they wouldn't let me use it. I moved out of NJ to Miami and they told me to fly back to NJ to deal with a wire transfer. This bank should go bankrupt and everyone who works there should get trained to go work elsewhere. This place sucks. Point blank.
Customer Service Deteriorating
This bank once had four branches in my city -it’s down to one, and they amazingly took out the last walk -up ATM. Now you need to compete with every business customer to withdraw cash. The first time I went for cash in the drive-up it was broken and they were only able to give me 50s and hundreds at the drive-up window, a 20 minute transaction. The next time it wasn’t functional at all. And so forth.
When I last tried to remove something from my
safe deposit box,for which I pay , it took three times going there for them to succeed in opening the box. The faces inside are always new.
When banks paid interest that wasn’t incredibly minimal they were never competitive. They made me close and reopen my account to give me a better rate, since the promotions were always for new customers only.
Good luck doing any face-to-face with this bank.
Data as of Q4 2024
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 9396 |
| Year Established | 1927 |
| Employees | 3697 |
| Primary Regulator | OCC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.59% |
| Return on Equity - YTD | 4.92% |
| Annual Interest Income | $3.36B |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q4 2024vs Q4 2023 | $62.45B$60.94B |
| Loans | Q4 2024vs Q4 2023 | $48.27B$49.79B |
| Deposits | Q4 2024vs Q4 2023 | $50.36B$49.44B |
| Equity Capital | Q4 2024vs Q4 2023 | $7.88B$7.28B |
| Loan Loss Allowance | Q4 2024vs Q4 2023 | $558.9MM$446.1MM |
| Unbacked Noncurrent Loans | Q4 2024vs Q4 2023 | $365.4MM$304.8MM |
| Real Estate Owned | Q4 2024vs Q4 2023 | $12.2MM$71K |
