Do you require a minimum opening deposit?
Yes, the minimum opening deposit is just $1.
Do you have a minimum account balance?
No minimum balance is required in your online savings account. However, if you do not maintain a balance of $0.01 or more for sixty (60) days, we may close your account.
Are there any fees associated with my online savings account?
We do not charge fees for transfers to or from your online savings account. However, your external financial institution may charge you a fee.
How do I add money to my account?
There are 4 ways you can add money to your account:
- #1 Deposit funds during the initial account opening. You will need a valid U.S. bank online account username and password.
- #2 Initiate a money transfer or wire transfer from another financial institution, or transfer from a Valley Bank account.
- #3 Deposit checks via the Valley Mobile Banking App.
- #4 Set up a direct deposit of your payroll, pension or government benefit such as Social Security.
How do I set up direct deposit?
To set up direct deposit follow the procedures outlined by your payroll or benefits provider. They will need the following information:
Is my online savings account FDIC insured?
Yes, your online savings account is FDIC insured. For more information about FDIC insurance, visit the FDIC website at fdic.gov.