VirtualBank
On Friday, August 19, 2011, Lydian Private Bank, the parent of VirtualBank, was closed by the Office of the Comptroller of the Currency. All deposit accounts were then transferred to Sabadell United Bank. Unlike many online banks that failed recently, VirtualBank has been kept open for business by its new owner and the rates are still competitive.
eMoney Market Account Rates
| Balance | APY | Rate |
|---|---|---|
| $0.00 - $10,000 | 0.70% | 0.70% |
| $10,000 - $24,999 | 0.70% | 0.70% |
| $25,000 - $49,999 | 0.73% | 0.73% |
| $50,000 - $99,999 | 0.78% | 0.78% |
| $100,000+ | 0.83% | 0.83% |
Rates as of 4-10-12. $100 minimum deposit required to open. No monthly fee. APY = Annual Percentage Yield
Certificate of Deposit (CD) Rates (More Info)
| Term | APY |
|---|---|
| 3 Month | 0.50% |
| 6 Month | 0.70% |
| 1 Year | 0.90% |
| 2 Year | 0.90% |
| 3 Year | 1.31% |
| 4 Year | 1.46% |
| 5 Year | 1.51% |
Rates as of 4-10-12. $10,000 minimum deposit required to open. APY = Annual Percentage Yield
High Yield Checking Rates
| Balance | APY | Rate |
|---|---|---|
| $0 - $2,500 | 0.25% | 0.25% |
| $2,500.00 - $9,999 | 0.30% | 0.30% | $10,000 - $24,999 | 0.35% | 0.35% | $25,000 - $49,999 | 0.50% | 0.50% |
| $50,000+ | 0.65% | 0.65% |
Rates as of 1-18-12. $500 minimum deposit required to open the High Yield Checking Checking Account. An average daily balance of $1,500.00 per statement cycle must be maintained in order to avoid the monthly maintenance fee of $5.00. APY = Annual Percentage Yield
VirtualBank Reviews
Review from pops
"Not at all competitive. Don't waste your time or money."
Read More VirtualBank Reviews >>
Contact
www.virtualbank.com
(877) 998-2265
Account Notes
Seekers of high rates (and those who don't mind the risk of banking with a recently failed bank) may be interested in the eMoney Market account and the certificates of deposit from VirtualBank.
The rate that's earned on the eMoney Market account depends on how much money you have in the account. As of this writing, there are five balance tiers, so it takes a bit of money to get the best rate. The eMoney Market account can be opened with a minimum deposit of $100.
VirtualBank has high CD rates too, but like the eMoney Market account, a bit of money is required. The certificates of deposit requires a minimum deposit of $10,000. That's one of the largest minimums required by a bank listed on eMoneyCentral.com.