VNB Healthcare Advantage Checking

Our VNB Healthcare Advantage Checking account is ideal for healthcare businesses that experience high volumes of monthly transactions. Whether you operate a medical practice, clinic or hospital, you can benefit from 1,500 free monthly transactions, paying no fee for the first year and no monthly maintenance fee after the first year if you maintain a monthly average collected balance of $5,000.

  • Key Benefits
    • No transaction fees for the first 1,500 transactions, including checks paid, deposits, deposited items, ACH credits/debits
    • Exclusively for healthcare professionals
    • Avoid a monthly maintenance charge by maintaining a minimum monthly average collected balance of $5,000
  • 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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