Frequently Asked Questions

• Account Opening

  How long does it take to open an account?
  It should take less than 10 minutes to open an account.

  What will I need to open an account?
  To open a Valley Direct online savings account, you must be at least 18 years old with a valid U.S. bank account and Social Security Number. You will also need a government issued ID (i.e., U.S. Driver's License, Non-Driver State ID, Passport, U.S. Permanent Resident Card) and a valid U.S. bank online account username and password.

• Making Deposits

  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 6 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 an inbound external transfer from another financial institution through Personal Online Banking on your computer, or using the Valley mobile app on your phone or tablet.
  • #3 Initiate a money transfer or wire transfer from another financial institution, or transfer from a Valley Bank account.
  • #4 Receive money in your ValleyDirect account from another account via Zelle. You must ensure your ValleyDirect account is your primary account for Zelle within Valley Personal Online Banking.
  • #5 Deposit checks via the Valley Mobile Banking App.
  • #6 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:

  • - Valley's routing/ABA number: 021201383
  • - Your Valley Direct account number
  • - Download a Direct Deposit form

  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 .

• Withdrawing Money

  How do I make a withdrawal from my account?

  There are 3 ways to withdrawal your money from your account:

  • #1 You can easily transfer funds to an external account through Personal Online Banking using your computer, or using the Valley mobile app on your phone or tablet.
  • #2 You can initiate a Zelle transaction through Personal Online Banking using your computer, or using the Valley mobile app on your phone or tablet. This method is best if you are initiating a transaction to someone else.
  • #3 You can withdraw your money by requesting a check either by sending a secure message via online banking on ValleyDirect.com, or by calling 866-899-9900. For calls made from outside of the U.S. and Canada, please call 973-305-8800. We're available Monday through Friday from 8 AM - 6 PM ET. Checks are payable to the account owner only.

  
  

  How many withdrawals can I make from my account each month?
  You are typically allowed only six transfers per monthly statement cycle, according to federal law. However, a recent change in federal law has temporarily suspended this limit, allowing you to make more than six withdrawals or transfers in a monthly statement period. That means there's currently no limit to the number of withdrawals or transfers you can make. Please keep in mind that this change is likely temporary and the monthly transfer limit it could be reinstated in the future.

• Account Access

  How can I access my account?
  We offer 24/7 online access from your computer, tablet or mobile device at ValleyDirect.com, as well as our Valley Mobile Banking app. You can also call us at 866-899-9900. For calls made from outside of the U.S. and Canada, please call 973-305-8800. We're available Monday through Friday from 8 AM - 6 PM ET.

  Where can I find the Valley Direct routing/ABA number or my account number?
  Valley's routing/ABA number is 021201383. To access your account number, simply log in to your Valley Direct online banking account, select the desired account, then view the Account Details.

• Contact and Support

  How do I change my contact information?
  For security purposes, you will have to call us to update your contact information. You can call us at 866-899-9900. For calls made from outside of the U.S. and Canada, please call 973-305-8800 . We're available Monday through Friday from 8 AM - 6 PM ET.

  How can I close my Valley Direct account?
  You may close your account at any time by calling us at 866-899-9900. For calls made from outside of the U.S. and Canada, please call 973-305-8800. We're available Monday through Friday from 8 AM - 6 PM ET.

• About Valley

  For more than 95 years, we've been committed to our mission of giving people and businesses the power to succeed. Because at Valley Bank, we believe when our customers and communities thrive - we all do. That's why we're one of the largest and most trusted regional banks in the country, with more than $41.7 billion in assets and branch locations across New Jersey, New York, Florida and Alabama. But we always knew we wanted to do more for people beyond our physical footprint. That's why we created Valley Direct. So, we could bring the high-quality, trusted service our customers know us for directly to you - no matter where you are. If you want to learn more about Valley Bank, go to Valley.com.