VNB Business Money Market

This unique savings account is designed to provide you with competitive rates and limited check writing ability so you can maximize the earning power of your money while retaining the liquidity you need to run your business, with a minimum average daily collected balance of $10,000.

  • Key Benefits
    • Low minimum average daily collected balance of $10,000
    • Business Money Market is a variable rate product and all rates are subject to change at any time
    • Competitive yields with tiered APY according to balances
  • 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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