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Virtual Bank
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VirtualBank built an online banking process from the ground up.
Newly built for security and ease of use, both our clients and staff have all the tools and information they need right at their fingertips.

Ahead of the pack, VirtualBank has always had its eye on the future.
A future of banking forever changed by the convenience of online banking. While most traditional banks have adapted and cobbled together legacy systems and an online interface, VirtualBank has one platform, built to do business online and founded to save clients’ money on everyday banking and lending.

Website:

http://www.virtualbank.com/

Phone Number:

1-877-998-BANK / 8:30AM - 9PM Mon - Fri

Address:

VirtualBank
ATTN: Client Service
P.O. Box 109638
Palm Beach Gardens, FL 33410

Minimum Balance:

$100 (money market), $10,000 (CDs)

Interest:

compounded daily

ATM Withdrawl Fees:

Three withdrawls per month at no charge.

Fees:

Excess Withdrawls:$10
Maintence Fee:$10 if balance if balance falls below $500.

Current Money Market Rates:

[http://www.virtualbank.com/Banking/MoneyMarket.aspx]

Current CD Rates:

[http://www.virtualbank.com/Banking/CDs.aspx]


Comments

bocaoma
2008-12-31 16:29:13
i've used them for years, great bank!
PG
2008-09-11 20:37:32
JD - These guys are just brutal, with little or no consideration for fairness and equity. The do what they want and if you don't like it, tough. They also suspended my HELOC with no notice based on "a significant reduction in property value" but they can't ro won't tell me what they think my property is worth. I bought my house for $290K over 5 years ago and did a $50k addition out of my own pocket a year ago, not even using their stupid HELOC. Based on Zillow AND my property tax assessors statement of value, the house is worth $315K. I've paid my 1st down to $200k so and I've got a $70k HELOC with these schmucks without a penny drawn down. If I drew the entire $70k down, I'd still only have an 85% CLTV on the 1st and 2nd combined! Like you JD, apparently they didn't feel that a Zillow report and a county tax assessors market value statement were adequate, so they declined my request to reconsider suspension of the HELOC. I shouldn't have to spend $400 on an appraisal if they don't have to tell me what they think my property is worth and why they think that. I've read the recent guideance by the Office of Thrift Supervision addressing the grounds under which a Thrift can suspend a HELOC, and in my opinion based on 25 years working in banking, they are not following that guideance. I'm filing a complaint with their primary regulator, the Office of Thrift Supervision (OTS), and I recommend that everyone else who has had their HELOC frozen arbitrarily with no statement of what they think your specific property is worth should do the same. You can contact the OTS at 800-842-6929 and they will be happy to help you file a formal complaint. If a few hundred of us do this, it might get their attention at ol' my way or the highway VirtualBank.
JD
2008-05-20 19:11:38
Bank pulled my HELOC with NO notice!! claimed "significant reduction in property value" based on the greater metropolitan area. If I wanted to appeal, I needed to pay for my own certified appraisal. Then, they would consider it. And I didn't even have 40% of the line pulled out and have well over the 80/20 loan to value. They refused to honor a check written before the date of the notice! DON'T do business with this bank. If you've got an HELOC, withdraw your money now, while you still can!
mike s
2008-02-07 07:35:50
Customer service through phone has been excellent. No waits, always get answers to questions. I picked up their product through a teaser promotion and wish their rates had remained high but now their rates are mediocre. Would like to stay with them if they could up their returns.
loyal cutomer
2007-12-06 04:59:49
I've been using them for over 5 years now and I am very satisfied. The website is awesome, very quick and intuitive. It's the customer service that's unprecedented though. Email them about anything and it gets resolved in less than 24 hrs. I mean resolved not just addressed. This bank is owened by a huge wealth management company called Lydian.
EARL J. PEABODY, IV
2007-11-29 10:12:31
I have been banking with this bank for a few years and I am very pleased. The online banking web site is very user friendly once it is set up correctly. Hold time on telephone customer service is very short, and every attempt is mad to resolve any problems. I am very pleased with this bank. E mail questions and renewals are handled very quickly.


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