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Virtual Bank


Overview / Commentary
877-998-2265
1111 Brickell Avenue
Miami, FL 33131

Related Posts

VirtualBank eMoney Market Now Earns 2.36% APY - 12/22/2018

VirtualBank (internet bank) has raised the rate on its variable rate eMoney Market account to 2.36% APY. Minimum opening deposit is $100.

Interest Rate Increase At Virtual Bank - 12/21/2018

Virtual Bank has jumped the APY on their eMoney Market account to 2.36%. You must keep at least $100 in the account at all times else they will impose a service charge.

VirtualBank Pushes 12-Month eCD Rate Up - 11/16/2018

VirtualBank has raised the rate on its 12-month eCD to 2.81% APY and is currently the rate leader for 1-year CD offered by internet banks. Minimum deposit is $10k.

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If The High Rate Only For The 1St Year

Posted by: henryr | May 9, 2019

If the high rate only for the 1st year

Poor Service And Options

Posted by: EricJ | May 10, 2018

I'm being generous about the 3 stars. Have had a CD here since 2015, rates were decent then. They would mail a statement every quarter although at least once I did not get it.

So trying to be patient and always balancing my numerous accounts at various banks I waited until today (5-10-18) to log in to see if I could get the info. I clicked the link to go to statements but got an error message (just some numbers). Tried this a couple times and then gave up and called.

Apparently they were bought by another bank and no longer have statements mailed or online, you have to go to transactions to get the info. I never received any info in mail or online about this.

Seems when banks make changes like this they should be required to notify you... poor management and not very good customer service, no more CDs here. I like to feel when I have thousands invested somewhere that they know what they are doing and keep me informed.

Poor Communication And Very High Penalties

Good promotional rates, but bank will auto-renew CD accounts without notification. Early withdrawal penalties are based on a percentage of the entire account balance and are very high.
Avoid this bank unless you are very on top of your maturation dates, otherwise you'll end up getting soaked.

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.

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Health

Health Grade Components

Overall
FDIC Certificate #28100
Year Established1887
Employees3123
Primary RegulatorFED
Profit Margin
Return on Assets - YTD1.31%
Return on Equity - YTD10.11%
Annual Interest Income$326.1MM
Assets and Liabilities
AssetsQ1 2019vs Q1 2018$31.17B$29.39B
LoansQ1 2019vs Q1 2018$22.96B$21.67B
DepositsQ1 2019vs Q1 2018$24.26B$23.12B
Equity CapitalQ1 2019vs Q1 2018$4.05B$3.83B
Loan Loss AllowanceQ1 2019vs Q1 2018$143.0MM$144.5MM
Unbacked Noncurrent LoansQ1 2019vs Q1 2018$147.1MM$157.6MM
Real Estate OwnedQ1 2019vs Q1 2018$30.6MM$22.1MM
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
2.36%$100-eMoney Market Special
0.80%--eMoneyMarket

Virtual Bank CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.55%$10k-12 Month eCD
2.45%$10k-9 Month eCD
2.40%$10k-6 Month eCD
2.25%$10k-18 Month eCD
2.25%$10k-24 Month eCD
2.25%$10k-36 Month eCD
2.25%$10k-60 Month eCD
2.16%$10k-3 Month eCD
2.00%$10k-1 Month eCD
2.00%$10k-2 Month eCD
1.79%$10k-48 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

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