About Virtual Bank

VirtualBank, a federally chartered, FDIC-insured bank based in Palm Beach County, Florida, is a division of Sabadell United Bank, N.A.
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Overall Rating

B
Grade

Virtual Bank Report Card

Overall rating score 63%
Customer Rating
Based on 4 Reviews
Financial Health
Based on Texas Ratio: 37.97
Bank Fees
vs. Average
Bank Rates
vs. Average
Mobile Deposits
Mobile Deposits
Mobile Banking
Quality of Mobile Services

Customer Reviews

Most Helpful Customer Reviews

Fisherman1's Profile Image

Reviewed by Fisherman1

Mar 7th 2014

4 out of 5 marks

Had some excess money, had to spread it out so I tried Virtual Bank. It is going well.

I had to spread some money out between banks, so I compared rates and found Virtual Bank. The rates are okay. Not the best, but lets face it, rates are not great anywhere. What I wanted was a strong bank for safety reasons.

The application was easy. They use some system to verify me and I had to answer questions to prove I was me. OK, I understand that. The account was opened quickly. The money was automatically transferred. The rate is much better than I could get at my regular bank.

All in, I had a good experience. The rate is decent. I did have a question so I sent them a message thru online banking, and they answered quickly and nicely. I have no complaints. Will see how it goes.

Is this review helpful? ▲ Yes 1 ▼ No 0

happyBOAcustomer's Profile Image

Reviewed by happyBOAcustomer

Sep 15th 2013

1 out of 5 marks

Worst ever. On a scale of 1 to 5, below zero

Virtual Bank, its holding company Lydian Bank aka Sabadell United Bank failed, it's in FDIC receivership. Listen to how they treat loan customers with 9 years of flawless payment history: The loan subordination department just told our refinance mortgage broker (Bank of America) to not contact them again. After over 100 days and four drafts of subordination requests (per Virtual Bank's revision requests) with the same title company, they're refusing to subordinate a home equity line of credit so that the borrower may refinance their first mortgage. The 1st mortgage rate would drop in half and they are treating their customer horribly. Their behavior is nearing tortoise interference and the FDIC Ombudsman's office is being notified.

Is this review helpful? ▲ Yes 1 ▼ No 0

MCK's Profile Image

Reviewed by MCK

Dec 2nd 2013

1 out of 5 marks

Terrible Bank, like many banks they like to steal your hard earned money

They originally got my money by offering $30 if i put in $100. So I did. Years ago. Now all of it is gone because of some maintenance fee the implemented in Feb 2013. They said they sent an email, I never got it and i have been using it for the last 10 plus years. They said they sent me a letter by snail mail as well. Never got it. They said if i would have been using my online banking to check it I would have seen what was happening. Well the last time i checked in April there was no change from when i checked 6 months before. It's a money market account you put $$ in and then forget about it. Don't fall for their scam. They have just figured out a way to rob you of your money legally. I can't believe banks can treat customers this way after our tax dollars bailed them out.

Is this review helpful? ▲ Yes 1 ▼ No 0

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Bank Rates

NAME RATE (APY) MIN TO EARN APY MIN TO OPEN
High Yield Checking

0.25%

$0

$500

High Yield Checking

0.30%

$2,500

$500

High Yield Checking

0.35%

$10,000

$500

High Yield Checking

0.50%

$25,000

$500

High Yield Checking

0.65%

$50,000

$500

TERM RATE (APY) MIN TO OPEN
1 Month CD

0.15%

$10,000

2 Month CD

0.15%

$10,000

3 Month CD

0.40%

$10,000

6 Month CD

0.65%

$10,000

9 Month CD

0.70%

$10,000

12 Month CD

1.01%

$10,000

18 Month CD

1.01%

$10,000

24 Month CD

1.11%

$10,000

36 Month CD

1.21%

$10,000

48 Month CD

1.51%

$10,000

60 Month CD

2.02%

$10,000

Banking Fees

Type Fee National average
Monthly Inactivity

$5

More than 36 months inactive

$6

Non-Sufficient Fund (Overdraft)

$25

$30

Stop Payment item

$25

$27

Return Deposit

$15

$17

Domestic Wire Transfer (Outbound)

$20

$22

Domestic Wire Transfer (Inbound)

$0

$8

Non-Bank ATM

$0

$1

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