|APY||ACCOUNT TYPE||ACCOUNT NAME|
|2.10%||1-year CD||12 Month eCD|
|2.20%||2-year CD||24 Month eCD|
2.25% - Synchrony Bank 24 Month CD
|1.57%||18-month CD||18 Month eCD|
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.
I had some questions, after the new website launched, and since Virtual Bank was taken over by Iberia Bank. They had unsubscribed me from electronic statements, and I was receiving an error message when I tried to access my statements online.
The phone number they tell you to call for help is NOT for Virtual Bank, it's for Iberia Bank, and so I was told to email them my concerns.
I did so, and got a rather snarky reply, that they had mailed all this info to my "last know address", but they would now put me on paperless statements.
So...they may have nice rates, but they sure are snippy and not so pleasant to deal with, even by email.
Got this email:
Our goal is to be your primary bank – to support all of your savings and checking needs. That is why we are investing in these important upgrades. However, these upgrades are costly, and to help cover our expenses we will begin charging a small monthly maintenance fee on low balance eMoney Market accounts as of Jan 31st 2013.
How small is the fee? $5.00. What is the minimum balance? $100. Same as the minimum opening balance. This means that if you keep a monthly average collected balance of just $100 in your eMoney Market account, you will not be charged a maintenance fee.
For more information go to https://www.virtualbank.com/ServCharge0512.pdf
Thank you for your business, and please let us know how we can serve you better. We look forward to continuing to bring you the very best in internet banking.
So I said: "Goodbye Ernest."
I signed for a CD because the rates were good and had it for years. Here's why I won't use them again:
1. Simple interest only, not compound. 2. They have no ability to transfer electronically in or out to other institutions, they'll only mail you a check. 3. Since Iberia Bank took over, penalty for early withdrawal is now 2% of amount withdrawn! Usually, it's an interest penalty, not a % of withdrawal. 4. When sending a confidential message through the website, they take days to respond and give no confirmation that they've even received your message. 5. Customer service is spotty ... some are nice and helpful, some are surly. Too many good banks around. Go elsewhere.
|FDIC Certificate #||28100|
|Return on Assets - YTD||0.66%|
|Return on Equity - YTD||5.29%|
|Annual Interest Income||$913.8MM|
|Assets and Liabilities|
|Assets||Q4 2017vs Q4 2016||$27.82B$21.57B|
|Loans||Q4 2017vs Q4 2016||$20.08B$15.08B|
|Deposits||Q4 2017vs Q4 2016||$21.64B$17.85B|
|Equity Capital||Q4 2017vs Q4 2016||$3.61B$2.58B|
|Loan Loss Allowance||Q4 2017vs Q4 2016||$140.9MM$144.7MM|
|Unbacked Noncurrent Loans||Q4 2017vs Q4 2016||$147.6MM$224.9MM|
|Real Estate Owned||Q4 2017vs Q4 2016||$20.6MM$20.9MM|
This section lists recent deals, promotions and rate changes submitted by our community within the past 90 days. Always verify official rates and promotions with the bank or credit union.
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.
|APY||MIN||MAX||ACCOUNT NAME||VIEW DETAILS|
|OTHER TIERS: 0.25% → Up to $250k|
|APY||MIN||MAX||ACCOUNT NAME||VIEW DETAILS|
|2.65%||$10k||-||60 Month eCD|
|2.20%||$10k||-||24 Month eCD|
|2.10%||$10k||-||12 Month eCD|
|1.79%||$10k||-||48 Month eCD|
|1.66%||$10k||-||36 Month eCD|
|1.57%||$10k||-||18 Month eCD|
|1.56%||$10k||-||6 Month eCD|
|1.30%||$10k||-||9 Month eCD|
|0.82%||$10k||-||3 Month eCD|
|0.15%||$10k||-||1 Month eCD|
|0.15%||$10k||-||2 Month eCD|
Virtual Bank is an Internet only bank and does not have branch locations. Its headquarters is located at 1111 Brickell Avenue - Miami, FL 33131