Deposits held and insured by Valley

Overview / Commentary
1455 Valley Road
Wayne, NJ 07055
Deposits held and insured by Valley

Related Posts

Has Joined The 5% Apy Online Savings Club - 7/17/2023

I just noticed it today Valleydirect has increased to 5% apy for there online savings.

Valleydirect High Yield Savings Increased To 4.85% APY - 6/1/2023

Valleydirect High Yield Savings is now 4.85% APY.

ValleyDirect Increases Online Savings Account Rate - 12/10/2022

ValleyDirect (online division of Valley) has increased its nationally available Online Savings Account APY to a competitive level. Minimum opening deposit is $1.

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They’Ve Been Pretty Good To Me

Posted by: |

ValleyDirect has been good to me since I opened an account with them. The competitive savings rate that they’ve recently increased for new and existing customers is what keeps me with them. Their customer service has been helpful to me when I needed it.

Valley Bank has been around for a while and is in the top 50 banks in terms of assets nationally. They definitely don’t get enough attention for their competitive offerings, but they should! I’ve now moved all of my banking to Valley.

Daily Withdrawal Limits

FYI - If you're using their Savings Account for high $$$, there is a daily withdrawal limit of $25,000. Fine for 99.9% probably, but not for all. Then again, it's YOUR money so why the cap when others like CIT or DollarSavingDirect, etc., have none?

Beware Transfer Limits

Beware of transfer limits that make it near impossible to get your money if you need it quickly. You can send up to $3,500 per day and $12,500 per month.

You can receive up to $45,000 per day and up to $75,000 per month.

Only other way to get large sums is through a check that they will mail to you.
Also I believe they will not verify ownership of your account with other financial institutions if you want to connect your other bank accounts through their system to get around the limits.

I would NOT bank here if you plan on transferring larger sums of money.

Not Worth The Hassle

Posted by: |

I have very good credit, and 7 credit freezes going. I temp lifted Chexsystems, since that's the one Valley told me they check. When I applied, I was rejected. The email said something about "3rd Party Freeze". I literally spent/wasted an entire day dealing with this. Long story short, I temp unfroze ALL of my freezes, and tried again the next morning. Rejected again. Same reason given via email, even though I now had no active freezes. Tried calling ValleyDirect CS again, and (as usual) waited on hold for 15 minutes, and finally said, screw this.

I checked out Vio Bank, looked okay, same great rate, called CS as a test and they picked up immediately, and they were nice and helpful, so applied on their site, the process was easy, they asked me security questions (proving, I think, that my LexisNexis freeze was indeed temp unfrozen), it all worked, the two trial deposits were in my external account the next morning, and that morning I was up and running with my new Vio account and online banking. Easy, and smooth. The opposite of Valley Direct.

The couple times I spoke with Valley Direct CS (after waiting on hold for too long, IMO), they were very nice, which spurred me to keep trying, but it just wasn't worth the hassle, not when there are so many other viable options.



Data as of Q2 2023

Data displayed below is for insuring bank: Valley
Learn why bank health matters

Health Grade Components

FDIC Certificate #9396
Year Established1927
Primary RegulatorOCC
Profit Margin
Return on Assets - YTD0.99%
Return on Equity - YTD8.4%
Annual Interest Income$1.51B
Assets and Liabilities
AssetsQ2 2023vs Q2 2022$61.70B$54.44B
LoansQ2 2023vs Q2 2022$49.47B$43.11B
DepositsQ2 2023vs Q2 2022$49.78B$43.92B
Equity CapitalQ2 2023vs Q2 2022$7.31B$6.92B
Loan Loss AllowanceQ2 2023vs Q2 2022$436.4MM$468.8MM
Unbacked Noncurrent LoansQ2 2023vs Q2 2022$269.0MM$329.9MM
Real Estate OwnedQ2 2023vs Q2 2022$824.00K$422.00K
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Valleydirect Savings Account Rates

5.25%--High Yield Savings

Valleydirect CD Rates

5.60%$500$500k36 Month Variable CD
5.25%$500$500k13 Month CD

Valleydirect is an Internet only bank and does not have branch locations. Its headquarters is located at 1455 Valley Road - Wayne, NJ 07055

The financial institution, product, and APY (Annual Percentage Yield) data displayed on this website is gathered from various sources and may not reflect all of the offers available in your region. Although we strive to provide the most accurate data possible, we cannot guarantee its accuracy. The content displayed is for general information purposes only; always verify account details and availability with the financial institution before opening an account. Contact [email protected] to report inaccurate info or to request offers be included in this website. We are not affiliated with the financial institutions included in this website.