Valley National Bank Review 2024
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At a glance
CDs
Checking
Savings
MMA
About Bankrate Score
Overview
Valley National Bank is a good option for residents of Alabama, Florida, New Jersey and New York who live near a branch and need basic personal or business banking products and want digital banking, in addition to access to branches.
Highlights
- Reward Checking
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These are sponsored offers rated highly by us for competitive rates, fees, and minimums.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate Savings rating = 4.4/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate Savings rating = 4.7/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate Savings rating = 4.5/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
Offers featured here have been sponsored which impacts how, where, and in what order the products appear. Not all offers are displayed on this page.
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Overall
Valley National Bank is a regional bank that offers consumer deposit products, mortgages and auto loans, investment management and a variety of business products. Customers looking for high yields can find various accounts here, but keep in mind that Valley National Bank has a limited geographic footprint, only spanning approximately 230 branches.
Pros
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Valley National Bank offers a combination of branch and digital banking.
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Its product lineup serves consumer and business customers alike.
Cons
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Valley has branches in only four states: Alabama, Florida, New Jersey and New York.
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It's not a strong choice for savers looking for top yields.
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A network of more than 200 ATMs isn’t competitive with larger banks and banks with large bank networks.
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Valley National Bank banking products
Valley National Bank savings overview
The overdraft/nonsufficient funds fee is $36.
Pros
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The All Access Savings account requires only $100 to open.
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All Access Savings comes with an ATM card.
Cons
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You can find banks offering much higher APYs on savings.
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There is a $4 monthly fee unless you meet minimum balance requirements.
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Valley National BankAPYAPY last updated between 12/14 and 12/20.APYAPY last updated between 12/14 and 12/20.National average APYHow do we get this data?Bankrate independently tracks hundreds of APYs and product details for banking institutions nationwide. We retain the historical data of every rate we track in our database. If there are any gaps where we weren’t actively tracking a rate at the time, the graph will reflect the missing data.
Bank fees
| Fee | Charged? |
|---|---|
| Overdraft fee | $36 |
| Non-sufficient funds fee | $36 |
| Monthly maintenance fee | $0 – $25 |
| Out-of-network ATM fee | $2 |
| Excessive transaction fee | None |
Customer experience
Customer support. Customer service is available by phone 6 a.m. to 8:30 p.m. Eastern during the week and 8 a.m. to 5 p.m. Eastern on weekends and holidays.
Mobile app. Valley National Bank’s mobile app scores well among iOS and Android device users. The bank also offers telephone banking and allows person-to-person payments with Zelle. The Valley Visa debit card works with Apple Pay, Google Pay and Samsung Pay.
About Valley National Bank
Valley National Bank is a federally insured regional bank with more than 230 branches in Alabama, Florida, New Jersey and New York. Its headquarters is in Wayne, New Jersey. The bank's holding company, Valley National Bancorp, has about $61 billion in assets.
How Valley National Bank compares to other banks
Valley National Bank vs. Chase Bank
Chase Bank is the largest bank in the U.S., measured by total assets. As such, its branch reach and ATM network are leagues above Valley National Bank. That noted, some of Valley National Bank’s deposit products generally offer higher yields, including CDs. Both banks are still charging stiff overdraft fees, whereas many other banks have slashed their overdraft fees or eliminated them entirely.
Valley National Bank FAQs
Review methodology
We assign a score to each type of account and its features, weigh them carefully based on importance to account holders and determine an overall score. Read our full review methodology.
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