Virtual Bank

Deposits held and insured by IBERIABANK

Overview / Commentary
877-998-2265
1111 Brickell Avenue
Miami, FL 33131
Deposits held and insured by IBERIABANK

Related Posts

Rate Drop To 1.24% 3/24/20 - 3/25/2020

Virtual Bank is no longer competitive in any respect. If you plan on keeping your account open I suggest maintaining only a minimal $100 balance.

Rate Drop To 1.39% 3/6/20 - 3/6/2020

Prior rate was 1.78%. I was about to send them funds from another bank that had slashed their rate. Oh well.

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Great Rates!!

Posted by: |

I found out about VirtualBank by searching for CD rates. I decided to open an account since they offered me better rates than my main bank was offering.

Overall, I've had a great experience with them. Opening my account was pretty easy. I linked my primary bank account to make my initial deposit and the rest was taken care of. I really like the fact that I can quickly transfer funds between my VirtualBank account and my main bank without any issues.

I haven't really considered VirtualBank as a primary bank, but to earn a bit of extra cash, why not.

Top-Tier Rate, But ...

Attractive promotional rate with one-year guarantee, but that's about it. Spartan website, not up to the competition, unpredictably inaccessible. Primitive e-messaging system accepts sent messages, but doesn't retain them. Doesn't matter actually since so far all ignored. CSR's willing, but information often unreliable. No weekend telephone support. Quick ACH, then annoying 3-day hold.

Uncomfortable, moving on.

Very Shady Bank.. Selling Applicants Info....

After learning this bank has ads stating its paying 1.25% interest on their E money market, I decided to do the online application, and to open a Virtual Bank acc. 2 hrs after applying I get a notice stating they were unable to approve my request, and a letter turning me down, because "of Experian credit report". I have always had above 760 credit score so this was very surprising.So I went to Experian, got a current copy of my Full report,and it also proves I have EXCELLENT credit, with above 760 score! There is nothing in the report that is negative. I also have above average savings to put in a new acc.
I now feel Virtual Bank is Stealing applicants info and selling it...When I did the online app, I had to give my SS#, and much other very private info, including I had to link my present Checking/savings accs by giving routing #'s and acc #'s, before my Virtual Bank app could even be approved. When applying, I also had to agree to 5 different privacy notices that stated Virtual Bank can share ALL my info with other companies and marketers. I think they do this( bait folks with high interest rates) just to steal ALL their private info, to sell ! I will be reporting them to the appropriate gov officials... Very Shady.

If The High Rate Only For The 1St Year

Posted by: |

If the high rate only for the 1st year

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Health
A+

Data as of Q4 2019

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

Health Grade Components

Overall
FDIC Certificate #28100
Year Established1887
Employees3148
Primary RegulatorFED
Profit Margin
Return on Assets - YTD1.24%
Return on Equity - YTD9.46%
Annual Interest Income$1.31B
Assets and Liabilities
AssetsQ4 2019vs Q4 2018$31.61B$30.74B
LoansQ4 2019vs Q4 2018$24.09B$22.49B
DepositsQ4 2019vs Q4 2018$25.39B$23.95B
Equity CapitalQ4 2019vs Q4 2018$4.25B$3.95B
Loan Loss AllowanceQ4 2019vs Q4 2018$146.6MM$140.6MM
Unbacked Noncurrent LoansQ4 2019vs Q4 2018$139.0MM$134.4MM
Real Estate OwnedQ4 2019vs Q4 2018$28.0MM$30.4MM
Rates
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Always verify rates and promotions with the bank or credit union. We are not Virtual Bank; we are a rate comparison website and cannot provide official rates or promotions.

* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Virtual Bank Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.25%$100-eMoney Market Special
0.80%--eMoneyMarket

Virtual Bank CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.95%$10k-24 Month eCD
0.95%$10k-36 Month eCD
0.90%$10k-48 Month eCD
0.90%$10k-60 Month eCD
0.85%$10k-18 Month eCD
0.80%$10k-12 Month eCD
0.75%$10k-6 Month eCD
0.75%$10k-9 Month eCD
0.60%$10k-1 Month eCD
0.60%$10k-2 Month eCD
0.60%$10k-3 Month eCD
Locations

Virtual Bank is an Internet only bank and does not have branch locations. Its headquarters is located at 1111 Brickell Avenue - Miami, FL 33131

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.