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Valley National Bank Review 2022

Updated December 2, 2022
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At a glance

3.3
Rating: 3.3 stars out of 5
Bankrate Score
Caret Down

CDs

Rating: 2.8 stars out of 5

Checking

Rating: 4.1 stars out of 5

Savings

Rating: 2.4 stars out of 5

MMA

Rating: 2.1 stars out of 5

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Overview

Valley National Bank is a good option for residents of Alabama, Florida, New Jersey and New York who need basic personal or business banking products and want digital banking, in addition to access to branches.

Highlights

  • Reward Checking
Compare offers
Bank logo
Member FDIC
Savings Account
4.00
%
APY
Rating: 3.3 stars out of 5
$0
Min. balance for APY
View offer Arrow Right
Bank logo
Member FDIC
Savings Account
3.00
%
APY
Rating: 3.3 stars out of 5
$0
Min. balance for APY
View offer Arrow Right
Bank logo
Member FDIC
Savings Account
4.05
%
APY
Rating: 3.3 stars out of 5
$0
Min. balance for APY
View offer Arrow Right

Overall

Valley National Bank is a regional bank that offers consumer deposit products, mortgages and auto loans, financial planning, asset management and a variety of business products.

Pros

  • Checkmark

    Valley National Bank offers a combination of branch and digital banking.

  • Checkmark

    Its product lineup serves consumer and business customers alike.

Cons

  • Valley has branches in only four states: Alabama, Florida, New Jersey and New York.

  • It's not a strong choice for savers looking for top yields.

Valley National Bank bank products

2.4
Rating: 2.4 stars out of 5
Bankrate Score

Valley National Bank savings overview

Valley’s All Access Savings account requires only $100 to open. You can avoid paying a $5 monthly maintenance fee by keeping a balance of $300 if the account was opened online and $500 if it was opened at a branch. The account comes with an ATM card, access to online and mobile banking and electronic account statements. However, the APY is not competitive.

The overdraft/nonsufficient funds fee is $36. Overdraft protection is $5 per transfer. The account is available only in Alabama, Connecticut, Delaware, the District of Columbia, Florida, Maryland, New Jersey, New York, Pennsylvania, Virginia and West Virginia.

Pros

  • Checkmark

    The All Access Savings account requires only $100 to open.

  • Checkmark

    All Access Savings comes with an ATM card, online and mobile banking and electronic statements.

Cons

  • You can find banks offering much higher APYs on savings.

  • There is a $5 monthly fee unless you meet minimum balance requirements.

  • The account is available in a limited number of states.

Current Savings Rate
Bank logo
Member FDIC
Savings Account
4.00
%
APY
Rating: 3.3 stars out of 5
InfoHover for more
$0
Min balance for APY

Bank experience

Valley National Bank’s mobile app scores high 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.

Customer service is available by phone, by sending an email through the bank's website and at a branch. It may be necessary to make an appointment to go inside a branch, so check before you go.

About Valley National Bank

Valley National Bank is a federally insured regional bank with 226 locations in Alabama, Florida, New Jersey and New York. Its headquarters is in Passaic, New Jersey. The bank's holding company, Valley National Bancorp, has about $41 billion in assets.

Review methodology

With so many financial institutions to choose from, it can be hard to know who to trust. Bankrate’s ever-growing list of bank and credit union reviews is updated regularly. Our editorial team analyzes and reviews each institution across deposit products such as savings accounts, checking accounts, certificates of deposit (CDs) and money market accounts (MMAs). Banks are rated by important factors such as offered interest rates, fees, minimum balance requirements, access to funds and more.

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.