Atlantic Union Bank Review: A Full-Service Bank Worth a Look

GOBankingRates Score

4.5
Our Take: Even though Atlantic Union Bank’s physical locations are limited, it’s worth considering banking there if you live in Virginia or certain parts of Maryland or North Carolina. The bank offers a full suite of products and services, including checking accounts with no fees. Plus, you can get in touch with customer service on Saturday, which isn’t always the case with smaller banks. Here’s a look at the bank’s overall pros and cons.
  • Breadth of Products
    4.5
  • Opening Deposit Requirements
    4.5
  • Accessibility and Ease of Use
    4.5
  • Customer Service
    4.5
How did we calculate this?

      Pros

      • Offers a variety of personal, business and commercial banking account options and services
      • Both in-branch and online banking available
      • Low opening deposits on checking and savings accounts

      Cons

      • More competitive rates on deposit accounts available elsewhere
      • Limited number of locations

      About Atlantic Union Bank

      Atlantic Union Bank began as a modest, rural financial institution in Virginia with only $2,500. Today, the bank — headquartered in Richmond, Virginia — has 135 branches that are located throughout the state, as well as in portions of Maryland and North Carolina. In addition, GOBankingRates named Atlantic Union Bank one of the Best Regional Banks of 2021 in its annual Best Banks rankings.

      Sponsors of

      If you’re looking for a full-service bank with both in-person and online banking capabilities, Atlantic Union Bank may be the perfect choice. Explore what the bank has to offer to find out more.

        Atlantic Union Products

        Atlantic Union Bank has a variety of accounts to choose from, including checking, savings, money market and certificates of deposit. Here’s a quick look at what each type of account has to offer.

        Product Key Details
        Checking Accounts
        • Interest-earning accounts available
        • $25 minimum opening deposit
        • No monthly maintenance fees on some accounts.
        • Free customized debit card with all accounts
        Savings Accounts
        • 0.01% APY savings rate across all accounts
        • $25 minimum opening deposit required for Personal Savings and Loyalty Savings, $10 for Deluxe Savings Club
        • Deluxe Savings Club helps you save for holiday purchases and pays out in October
        Money Market Account
        • Rates from 0.01% APY to 0.04% APY
        • $500 minimum opening deposit required
        • $12 monthly service fee waived with minimum daily balance of $2,500
        CDs
        • Three-month to five-year terms available
        • Money grows at fixed rate
        • $1,000 minimum opening deposit

        Atlantic Union also offers credit cards; personal, auto and recreational vehicle loans; mortgage and home equity loans; and land and lot loans.

        Sponsors of

        Atlantic Union Bank Checking Account

        Atlantic Union offers an array of personal checking accounts, including its ThankU Checking, which is designed for first responders, health personnel, teachers and members of the military. Here’s more about the bank’s checking accounts:

        Features

        • Free online and mobile banking
        • Free Design Mine debit card
        • Discounts on personal loans
        • Free identity theft resolution services with a qualified monthly direct deposit

        Pros

        • Most checking options are interest-bearing
        • No monthly service fee for Free Checking or ThankU Checking
        • Each checking account includes an installment loan discount of 0.25% to 0.35% with autodraft payment

        Cons

        Atlantic Union Bank Savings Account

        Atlantic Union offers three savings accounts, depending on your needs. If your savings goals include creating a fund for holiday shopping, the bank’s Deluxe Savings Club account has you covered. Here are the details:

        Features

        • Both Personal Savings and Loyalty Savings require a $25 minimum opening deposit, while the Deluxe Savings Club account requires an opening deposit of just $10.
        • Waive monthly maintenance fees by maintaining a $300 daily balance for Personal Savings and Loyalty Savings.
        • Deposit checks from anywhere when you download the mobile banking app.
        Sponsors of

        Pros 

        • Low minimum daily balance required to avoid service fees.
        • Tiered rate offered on Loyalty Savings account.

        Cons

        • You can find more competitive interest rates at other banks, such as those offered by Discover and Ally.

        Atlantic Union Bank Money Market Account

        Atlantic Union offers two money market accounts for your consideration: Money Market and Loyalty Money Market. The Loyalty Money Market account offers exclusive tiered rates for loyal customers, from 0.02% APY to 0.10% APY. Here’s more:

        Features

        • Tiered rates
        • Options to waive monthly service charge
        • Free online and mobile banking

        Pros

        • Possibility to waive the monthly service fee by maintaining a $2,500 minimum daily balance
        • Higher balances mean higher rates

        Cons

        • $500 minimum opening deposit

          Atlantic Union Bank CD Account

          Certificates of deposit are a good alternative to a traditional savings account because you can earn a much higher interest rate. Plus, Atlantic Union offers a variety of terms on its CDs, including one that lasts just three months.

          Features

          • Terms vary from three months to five years
          • FDIC insured and a guaranteed return without risk
          Sponsors of

          Pros

          • Money grows at a fixed rate
          • Loyalty customers can earn even better rates

          Cons

          • More competitive rates may be found elsewhere.

          Banking Experience

          Atlantic Union operates 135 branch locations — mostly in Virginia — and approximately 155 ATMs. You can initiate online bill payments, deposit checks and manage your accounts with the bank’s mobile app. Here’s more about banking at Atlantic Union:

            Customer Service

            Atlantic Union offers various ways to get in touch with a representative if you need assistance with your accounts or other banking services:

            •  Phone: Call 800-990-4828 to reach a customer service representative. Hours are 7 a.m. to 8 p.m. ET on weekdays, 7 a.m. to 5 p.m. ET on Saturdays.
            • Live Chat: Click on the blue “Live Chat’ button on the right side of your screen on your PC or mobile app.
            • Email: Contact customeradvocate@atlanticunionbank.com if you need help with something other than opening an account or routine servicing requests.

            Accessibility and Ease of Use

            Atlantic Union Bank offers its customers a variety of ways to bank. Here’s what you need to know:

            Sponsors of

            Mobile and Digital Experience

            Once you’re enrolled in online banking, you can download the Atlantic Union Bank app and log in with your Atlantic Union online username and password. The app is available for both Apple and Android smartphones. Atlantic Union’s app has a rating of 4.7 out of 5 in the App Store, and its Google Play app rating is comparable.

            How To Open an Atlantic Union Bank Account

            Opening an Atlantic Union bank account is simple. Go to the bank’s website, and choose the type of account you’d like to open. Click on the green “Apply Now” button and follow the prompts. Here are some qualifications to apply.

            • Be a resident of Virginia, Maryland or North Carolina
            • Be at least 18 years old
            • Have a Social Security number and a government-issued ID
            • Have access to your personal email
            Sponsors of

            Key Information

            Customer Service: 800-990-4828 

            Routing Number: 051403164  

            Atlantic Union Bank Fees

            As with other banks, Atlantic Union does charge fees. Here’s a quick look at what you can expect.

            • Monthly maintenance fees: $0 to $25, depending on type of account
            • Overdraft fees: $38 per item
            • Wire transfer fees: $15 to $50, depending on type of wire transfer

            Atlantic Union’s fees are similar to what many other banks charge, although the $38 overdraft fee is a bit higher. However, account holders can choose to meet minimum balance requirements to avoid monthly maintenance fees.

            Atlantic Union vs. Other Banks’ Fees
            Bank Monthly Maintenance Fees Overdraft Fees
            Atlantic Union $0 to $25 $38
            Bank of America $4.95 to $25 $35
            Wells Fargo $5 to $30 $35
            Truist $0 to $30 $36

            Atlantic Union Bank vs. Competitors

            Atlantic Union vs. Bank of America

            Bank of America offers a lower overdraft fee than Atlantic Union Bank — $35 versus $38. But Atlantic Union beats Bank of America’s monthly maintenance fees. Atlantic Union’s start at $0, and Bank of America’s start at $4.95.

            Atlantic Union vs. Wells Fargo

            Wells Fargo’s overdraft fee is $35, which beats out Atlantic Union’s fee of $38. However, Atlantic Union Bank only charges a maximum monthly maintenance fee of $25, compared to Wells Fargo’s maximum fee of $30.

            Atlantic Union vs. Truist

            Truist also beats Atlantic Union when it comes to maximum overdraft fees — $36 versus $38. But Atlantic Union beats Truist’s highest monthly maintenance fee: $25 versus $30.

            Final Take

            If you’re looking for a bank that offers just about any banking product or service you may need and low minimum opening deposits, consider Atlantic Union.  The bank’s monthly maintenance fees are lower than those of some of the largest banks in the U.S., and the bank offers account holders the opportunity to waive fees by maintaining an average minimum daily collected balance. Plus, if you need to talk to a bank representative on Saturday, Atlantic Union will answer the phone.

                Editor’s Favorite

                Atlantic Union has lower monthly maintenance fees than some of the biggest banks, which can keep more money in your bank account. The bank also offers low minimum opening deposits of $25 on its checking and savings accounts and has a variety of customer service options, included automated telephone banking.

                FAQ

                Now that you know more about Atlantic Union Bank’s products and services, here are the answers to some of the bank’s more commonly asked questions.
                • Is Atlantic Union Bank FDIC-insured?
                  • Yes, the bank is insured by the Federal Deposit Insurance Corp., up to $250,000 per depositor and per ownership category.
                • Does Atlantic Union Bank use Zelle?
                  • Yes. You can find Zelle in the Atlantic Union Bank app or when you use online banking on your computer.
                • How many branches does Atlantic Union Bank have?
                  • The bank has 135 branches across Virginia and in parts of Maryland and North Carolina.
                • Does Atlantic Union Bank offer free money for signing up for an account?
                  • The bank currently is not offering any promotions. However, the bank does offer promotions from time to time, so check back.

                  Rates are subject to change. Information on accounts is accurate as of 12/17/2020.

                  This content is not provided by Atlantic Union Bank. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by Atlantic Union Bank.

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                  About the Author

                  Cynthia Measom is a personal finance writer and editor with over 12 years of collective experience. Her articles have been featured in MSN, Aol, Yahoo Finance, INSIDER, Houston Chronicle, The Seattle Times and The Network Journal. She attended the University of Texas at Austin and earned a Bachelor of Arts degree in English.

                  Atlantic Union Bank Review: A Full-Service Bank Worth a Look
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