VNB Business Checking Plus

Enjoy up to 1000 free monthly transactions and no fee if you maintain a monthly average collected balance of $10,000 or combined deposit relationship of $100,000 in business, personal money market or checking accounts.

  • Key Benefits
    • Ideal for medium sized businesses with room to grow
    • 1,000 checking transactions FREE including checks paid, deposits, deposited items, ACH credits/debits
    • Low monthly average collected balance of $10,000 or combined balances of $100,000 that links with personal/business checking and money market accounts
    • Avoid monthly service fee by either maintaining monthly average collected balance of $10,000 OR maintaining a combined deposit relationship of $100,000 in business or personal money market or checking accounts
    • No fee for up to $50,000 in cash processing per month
  • Disclosure

    New Federal Regulation

    Starting May 11, Valley, and other financial institutions, will be required to follow a new federal regulation called the Customer Due Diligence (CDD) Rule. This means we’ll be required to obtain, verify and record information about the beneficial owner(s) of businesses and corporations, also considered legal entity customers.

    Who is a beneficial owner?
    Beneficial owner(s) include individuals who directly or indirectly own 25% or more of the legal entity’s equity interests, and one person with significant responsibility to manage the entity.

    What this means to you
    Each time an account is opened on behalf of a legal entity, we will be required to ask for:
    • Identifying information about the beneficial owner, including, but not limited to: name, residential address, date of birth, social security or similar number.
    • Documents to verify the identity of the entity, the ownership structure of the entity, and the identity of the beneficial owner.

    Questions about the CDD Rule?
    If so, please speak with your Branch Representative or call Customer Service at 800-522-4100 from 6 AM to 11 PM ET, seven days a week.

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