bank rates

VirtualBank 5.13% APY eMoney Market

Virtual Bank is offering a 5.13% APY on their eMoney Market account. To get this rate, however, you need to have a balance of $100,000+. Accounts with balances less than $100K but above $50K get a yield of 4.86% APY.
I personally have an e-Money Market account at VirtualBank, and I am happy with their internet online account manager and their fast ACH money transfers.

VirtualBank has been established from scratch: VirtualBank offers extensive security measures and tools to make the online banking experience a breeze. VirtualBank prides itself on the singular platform it offers its customers – all banking transactions occur via the Internet. VirtualBank affirms that its virtual platform saves the consumer money and allows the bank to offer better interest rates and lower banking fees. VirtualBank is a member of the FDIC, is federally chartered and its base is situated in Florida. VirtualBank is a subsidiary of Lydian Trust, and is one out of the five different financial institutions owned by Lydian Trust. The Chief Executive Officer of VirtualBank is I. Trevor Rozowsky, who also happens to be one of the founders of VirtualBank.

A higher yield on deposit accounts like savings and checking accounts are to be had at VirtualBank: a bank that offers no physical locations and conducts business via electronic means and ATM transactions. With a decrease in the amount of overhead that VirtualBank has, customers see lower fees and higher rates associated with the various banking accounts that VirtualBank has to offer. The banks current logo, “building wealth, not branches” clearly indicates the focus of VirtualBank – the bank is far more concerned with making its customers money than on establishing physical locations were customers can perform the very same transactions they can conduct on the Internet for far less money.

Every account at VirtualBank is handled personally – each account has its own personal banker and the banker works hard to ensure customer satisfaction. Now, customers no longer have to wait in line and see a different teller every time they visit the bank: VirtualBank ensures that the Internet banking experience is one where the customer can develop a working relationship with a single, knowledgable professional.

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