Virtual Bank offers many different types of accounts, but one that stands out is their eMoney Market account.  According to their description, the eMoney Market offers, “the high rate savings of an online money market with the convenience of free withdrawals and deposits.”

Details of Virtual Bank eMoney Market Account

One of the biggest benefits of this account is you only need $100 to open this account.  Other money market accounts can require thousands of dollars, but by only requiring $100 to open the account, it provides anyone the opportunity to gain more interest on their money.  Even though it only takes $100 to open the account, the more money you can invest, the more interest you will make.  For example, the interest rate and APY on less than $10,000 is 0.80 percent, while over $100,000 has an interest rate and APY of 1.01 percent.  This account also comes with no monthly fees, free online statements, free electronic deposits and withdrawals and free online transfers from your existing checking account.

According to Bank Truths Best Banks Chart, there are other banks that offer higher APY on your money, but beware because along with the higher APY could come more monthly fees and a higher opening balance or daily minimum balance.  This account is FDIC Insured, convenient to access and secure.  Virtual Bank works hard to keep your money safe and help you make the most interest on your money. We found that it has been worth our time to review Virtual Bank and it might worth your time to check it out as well. As an internet based bank, the name Virtual Bank is very fitting.

How to Open an Account at Virtual Bank

Opening an eMoney Market account with Virtual Bank is easy and only takes three steps.  First you have to fill out an online application.  They will then send two deposits to your personal checking account.  The third step only requires you to confirm you received the two deposits into your account and review your whole application.  This account is a good way to gain a little extra interest on your money, especially since it only requires $100 to open the account.