Valley National Bank Review: Regional Bank With a Wide Range of Products
Written by
Caitlyn Moorhead
Edited by
Melanie Grafil
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Wide variety of products and services
Founded in 1927, Valley National Bank is best for customers in its service area who want a wide range of products and multiple checking account options.
If you live in the Valley National Bank service area which includes branches spread between New York, New Jersey, Florida and Alabama, and like doing all of your banking in one place, you may appreciate the variety of services it offers. The bank is a member of the FDIC, so deposits up to $250,000 are protected.
GOBankingRates has given it the Gold for New Jersey for Best Banks by State 2025.
Valley National Bank Checking Accounts
Valley National Bank offers seven checking accounts, and four of these accounts can be opened online. Here are some features to consider:Â
- All Access Rewards Checking: All Access Rewards Checking is a basic account that has no minimum balance requirement and has a $100 minimum opening deposit. Valley National will pay $20 a month to All Access Rewards Checking account holders for a full year if they set up qualifying direct deposits of at least $750 per month.
- All Access Checking: The All Access Checking account has a minimum opening deposit of $100, and there’s no monthly maintenance fee as long as you maintain a balance of at least $99.
- Interest Checking Plus: Valley National does offer an interest-bearing account, called Interest Checking Plus, which has a $100 minimum opening deposit and comes with a nominal APY. The $15 monthly fee is waived with an average daily collected balance of at least $1,000.
- Teen Checking Accounts: The Valley Teen Checking and Valley My Choice Checking accounts are available for teens and have a $25 minimum opening deposit. It offers a $25 reward for signing up for a debit card. Teens and young adults between the ages of 17 and 25 can open a Valley My Choice Checking account and earn rewards worth up to $150. Other perks of this account are up to $10 in ATM fee rebates when using out-of-network ATMs and no monthly maintenance fees.
- Milestone Checking: Milestone Checking, intended for adults 55 and older, has no balance requirements or monthly service fee. Customers can open an account with a minimum $100 deposit.
- My Loyalty Checking: Valley National mortgage customers can open a My Loyalty Checking account, which comes with up to $10 in monthly rebates for ATM fees and offers up to $250 cash back for setting up bill pay or a qualifying direct deposit. A minimum opening deposit and a minimum balance of $100 is required. There is no fee for this account as long as the customer has a mortgage account and receives qualifying direct deposits.
Here are some pros and cons for the All Access Rewards Checking account:Â
Best For
Mobile App
Great APYs
Banking in New Jersey
Low Monthly Fees
Loan Options
Fees as Low as $0
Valley National Bank offers seven checking accounts, including options with low fees, rewards for direct deposits, and accounts for teens, seniors and mortgage customers.
Fees
$0 to $15
APY
Min Opening
$25 to $100
Pros
- Only a $100 minimum opening deposit is required.
- You get $20 a month for the first year with qualifying direct deposits of $750 or more per month.
- Debit card included
Cons
- You have to be a new customer, as the All Access Rewards Checking account isn’t available to current Valley National Bank checking customers.
- $2 fee for using an out-of-network ATM.
- Valley charges $5 to replace your debit card if it gets lost or stolen.
Quick Take
If you’re looking for a checking account that will allow you to earn hundreds in rewards and avoid monthly maintenance fees for a full year, the All Access Rewards Checking account is for you. However, keep in mind that it isn’t available to current Valley National Bank checking customers.
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Valley National Bank Savings Accounts
Valley National Bank offers one savings account, the Valley All Access Savings account. Here’s all you need to know about All Access Savings:Â
- There’s no monthly service fee if you maintain a minimum balance of $300.
- The account and can be opened with a minimum deposit of $100.Â
- The interest rate for the Valley All Access Savings account is APY.
- Valley Direct, Valley National Bank’s online-only division, also offers an online high-yield savings option. Not only can you earn a higher APY, but you also don’t have to worry about monthly maintenance fees as there are none. It’s a great account to grow your money, as it’s an FDIC-insured account with a high rate.
Best For
Mobile App
Great APYs
Banking in New Jersey
Low Monthly Fees
Loan Options
Low Fees and Minimums
Valley National Bank’s All Access Savings account offers low fees and a $100 minimum deposit, while the Valley Direct High-Yield Savings option provides a higher APY with no monthly fees.
Fees
$4, waivable
APY
Min Opening
$100
Pros
- There is an ATM card included with the savings account.
- No fees and low minimums
Cons
- $4 monthly fee unless you meet minimum balance requirements.
Quick Take
The All Access Savings has no monthly maintenance fees and low minimums to maintain, but it doesn’t offer the highest APY around.
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Valley National Bank CD Accounts
CDs are one of the many savings products offered by Valley, here are some factors to consider:
- Valley National Bank’s certificates of deposit come in a limited number of terms, but they do offer competitive rates.Â
- The minimum opening deposit on all CDs is $500.Â
- Customers also can open a CD online with a deposit of up to $500,000.
Best For
Mobile App
Great APYs
Banking in New Jersey
Low Monthly Fees
Loan Options
Competitive Rates With $500 Minimum
Valley National Bank offers CDs with competitive rates, a $500 minimum deposit, and limited term options, including six, 12, and 36-month variable rate CDs.
Fees
No monthly service fee
APY
Up to
Min Opening
$500
Pros
- Reasonable $500 minimum opening deposit on term CDs
- There is a three-year variable CD, which offers you wiggle room to earn more.
- Competitive APYs
Cons
- Not as many term lengths or APY options as other competitors
Quick Take
Rates are competitive but terms are limited as Valley National Bank offers only two standard CD terms for six and 12 months, and one 36-month variable rate CD.
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Valley National Bank Money Market Accounts
Valley National Bank has three money market accounts. Here are some key takeaways:
- There are three options, including Money Market Savings, Valley Tiered Money Market Savings and Valley Premium Money Market.Â
- With the Money Market Savings account, holders can earn up to APY on balances from $10,000 to $1,000,000.Â
- If you’re looking for a money market account that has a lower minimum balance to earn interest, the Valley Tiered Money Market Savings account has a minimum balance of $2,000.
- If you’re looking to get the highest rate, the Valley Premium Money Market account is the better choice, but it requires a minimum initial deposit of $25,000.
Here are some pros and cons of the Premium Money Market account:Â
Best For
Mobile App
Great APYs
Banking in New Jersey
Low Monthly Fees
Loan Options
Save Smarter With Flexible Options
Valley National Bank offers three money market accounts, including a Premium Money Market with competitive rates, a $25,000 minimum deposit, and fee waivers for maintaining balances.
Fees
$0 to $25, waivable
APY
Min Opening
$0
Pros
- It pays a more competitive APY if you link it to a Select Checking account.
- Competitive rates with or without linking to a Select Checking account
Cons
- High minimum opening deposit of $25,000.
- High minimum daily balance requirement of at least $10,000 to avoid a $25 monthly service fee.
Quick Take
You can earn well above the national average on your savings by simply linking to the Select Checking account which helps both grow and streamline your finances.
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Banking Experience
Valley National Bank customers can visit one of its 233 physical branches in Alabama, Florida, New Jersey and New York. They also have access to their accounts through the website or mobile app, where they can check balances, deposit checks, pay bills, transfer funds and more.Â
The app has a rating of 4.2 stars on Google Play and 4.8 on the App Store. Valley Bank’s website also includes a robust customer self-service center with videos and articles that answer frequently asked questions. For these reasons and many others, GOBankingRates has ranked it Gold for New Jersey in Best Banks by State 2025.
How Does Valley National Bank Compare?
Find out how Valley National Bank’s offerings compare to similar regional banks.
SELECTED BANK
MOST COMPARABLE
MOST COMPARABLE
Fees
Fees
Fees
$0 to $15
$0 to $10
$0 to $15 monthly
APY
APY
APY
N/A
Up to
Min Opening
Min Opening
Min Opening
$25 to $100
$50 to $2,500
$10 to $50
SELECTED BANK
MOST COMPARABLE
MOST COMPARABLE
Fees
Fees
Fees
$4, waivable
$0 to $10
$0 to $15 monthly
APY
APY
APY
Up to
Up to
Min Opening
Min Opening
Min Opening
$100
$0 to $50
$1 to $1,000
SELECTED BANK
MOST COMPARABLE
MOST COMPARABLE
Fees
Fees
Fees
No monthly service fee
No monthly service fee
Early withdrawal penalties will apply
APY
APY
APY
Up to
Up to
Min Opening
Min Opening
Min Opening
$500
$1,000
$1,500
SELECTED BANK
MOST COMPARABLE
MOST COMPARABLE
Fees
Fees
Fees
$0 to $25, waivable
$10
$10 to $15 monthly
APY
APY
APY
Up to
Min Opening
Min Opening
Min Opening
$0
$0
$1,000 to $5,000
Valley National Bank vs. Ameris Bank
Ameris Bank operates in eight states, including Alabama and Florida. It offers three types of checking accounts and a standard savings account as well as savings accounts for minors, health savings and education savings.Â
The Free Checking account is completely free and does not earn interest, but customers can avoid the monthly service charge on most accounts by maintaining a nominal minimum balance. Customers can check with their local branches if they want to see rates.
Valley National Bank vs. First Financial Bank
First Financial Bank offers six checking accounts and three savings accounts. One checking account has no monthly service charge, but most of the others can be avoided by meeting minimum requirements. The bank advertises CD specials with higher APYs than what you’d find in traditional savings, though interested customers should reach out to the bank for more information on rates.
Valley National Bank vs. Citizens Bank
Citizens Bank offers a wide variety of accounts, many of which have no monthly account fees or easy fee waiver requirements, similar to Valley. The relatively few number of states in the Citizen’s service area have numerous branches and ATMs, which make it a convenient option However, where Valley got the gold in New Jersey, Citizens got the silver, so it was slightly edged out in the Best Bank by State 2025.
Final Take
Valley National Bank’s main strength lies in its diversity of banking products — no matter what your financial goals are, you should be able to find a Valley product that will help you make it happen. It’s best for someone who lives near a Valley branch and finds its many products appealing as it was awarded the Gold for New Jersey in GOBankingRates’ list of Best Banks by State 2025.
Valley National Bank FAQ
Here are the answers to some commonly asked questions about Valley National Bank.- Is Valley Bank a national bank?
- Though it’s called Valley National Bank, as it has about $62 billion in assets, it’s technically a regional bank.
- What is the minimum balance for Valley National Bank?
- The minimum balance for Valley National Bank will vary by account. For example, many of the standard checking and savings accounts require a $100 daily balance whereas the Money Market Savings account requires a minimum of $10,000 to earn the APY
- Can I use Zelle with Valley National Bank?
- Yes, Valley National Bank uses Zelle so you can make payments through the platform on your account.
- Are Valley Bank and Valley National Bank the same?
- Yes, Valley Bank and Valley National Bank are the same as in 2024, Valley National Bank announced a brand refresh to reflect the bank's commitment to its customers and evolving needs. The new brand will be reflected in various branches, digital channels, marketing materials and communications with its customer base.
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Allison Hache, Cynthia Measom, John Csiszar and Vance Cariaga contributed to the reporting for this article.
Rates are subject to change; unless otherwise noted, rates are updated periodically. All other information on accounts is accurate as of Dec. 12, 2024.Â
Editorial Note: This content is not provided by any entity covered in this article. Any opinions, analyses, reviews, ratings or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by any entity named in this article.
To discover the Best Banks by state, GOBankingRates analyzed the top institutions (excluding online banks and neobanks) by state branch locations. To determine rankings, GOBankingRates looked at the following factors: (1) total assets as sourced from the FDIC; (2) checking product minimum deposit; (3) monthly checking fee ratio (percentage of the minimum to avoid fees compared to the monthly fee itself); (4) savings product minimum deposit; (5) savings product APY; (6) Bauer rating (out of 5 stars); (7) products/services offered (auto loans, mortgage loans, credit cards, investment services and insurance); and (8) the average mobile app rating between the Google Play (Android) and Apple stores. All factors were then scored and combined, with the lowest score being the best. Factors (1), (2) and (4) were weighed 0.5 times, factor (5) was weighed 2.5 times and factor (7) was weighed 1.5 times. All products and offerings had to be available as of Nov. 8, 2024, to be considered. Rates are subject to change; unless otherwise noted, rates are updated periodically. All other information on accounts is accurate as of Dec. 12, 2024.
To qualify as one of the Best Banks in the state, the institution needed at least five branch locations in the respective state, with some exceptions for larger and/or smaller states.
