Do you have questions about how our merger will affect your USAmeriBank accounts and services? We understand and are here to help. We’ve compiled the answers to many of the questions we thought you might have. If the question or answer you’re looking for isn’t here, you can easily stop by a branch or give us a call and we’ll be happy to help you.


 
  • General Information

    Important Dates About Our Systems Conversion

    Although USAmeriBank merged with Valley on January 1, 2018, the systems conversion takes time and is scheduled for the weekend of May 4, 2018. As of Friday, May 4th at 6 PM ET, you will not be able to access your personal and business accounts using online, mobile or telephone banking. Beginning Monday, May 7th, you will have access to your accounts using Valley’s personal and business online, mobile or telephone banking platforms.


    How To Contact Us

    You may continue to contact your local bank representative or call our Customer Service Team from 6 AM to 11 PM ET, 7 days a week, at 800-522-4100. For calls made from outside of the U.S. and Canada, call 973-305-8800.


    Will I be able to conduct banking transactions at any Valley office?

    Yes. Beginning May 7th, you’ll be able to conveniently transact business at any one of Valley’s 237 convenient branches located throughout Florida, Alabama, New Jersey, and New York. However, if you’re in Florida, New Jersey or New York prior to this date and need to conduct a transaction, please stop in any Valley branch and our professional, knowledgeable staff will be able to assist you. To find a branch nearest you, please visit valleyNationalBank.com, tap locations from our Mobile App or call Customer Service at 800-522-4100 from 6 AM to 11 PM ET, 7 days a week. For calls made from outside of the U.S. and Canada, call 973-305-8800.


    Will the banking hours or staff be changed?

    No. All branch offices will continue to operate the same hours with the same staff.
     

    What additional Personal Banking Services will be available after the system conversion?

    In addition to our robust line of personal banking products and services, you will also benefit from financial planning, investment management, trust and estate services, insurance services and much more. You can also link your Valley debit and credit cards to mobile wallet apps that use Apple Pay®, Google Pay™ or Samsung Pay®. Plus, you can count on continuing to receive exceptional service from the USAmeriBank management team and staff members that you already know and trust.
     

    What additional Commercial Banking Services will be available after the system conversion?

    In addition to the great commercial banking and lending products offered by USAmeriBank, the additional resources and customized solutions offered through Valley will enable us to make larger scale loans that accommodate our clients’ growth strategies. Business clients will now have access to a wider selection of services such as business credit cards, title services, insurance premium financing, equipment leasing, automotive floor plan financing, wealth management and much more.
  • Deposit Accounts

    Will my USAmeriBank account number(s) remain the same?

    Yes. Unless we advised you otherwise, your account number(s) and ABA routing number will remain the same. Please continue using your existing supply of USAmeriBank checks and deposit slips unless you are otherwise advised. Check reorders will include Valley’s routing number, name and address.


    Will I be able to use my USAmeriBank checking account checks and deposit slips?

    Yes. There will be no interruption in your check writing privileges. Please continue using your existing supply of USAmeriBank checks and deposit slips unless you are otherwise advised. Check reorders will include Valley’s routing number, company name and address.
     

    If I have direct deposit or ACH transactions, will they continue?

    Yes. If you are currently receiving a direct deposit or ACH credits and debits into your USAmeriBank account, they will continue uninterrupted.
     

    When will I receive my monthly checking account statement?

    Your final USAmeriBank Personal or Business checking or Money Market account statement will be generated in May and will include your transaction history through Friday, May 4th. You’ll receive your first abbreviated Valley checking account statement soon thereafter during the normal time of the month to which you are accustomed.
     

    Will any of my deposit account fees change?

    Fees for your deposit account may change. Please refer to the Schedule of Fees included in this package.
     

    Do Inactivity Fees apply to any Valley accounts?

    Checking accounts with no customer deposit or withdrawal activity for a period of 12 months will be charged $15 per month as stated in our Schedule of Fees. In addition, standard service charges for your account will continue to be assessed. Savings accounts with no deposit or withdrawal activity for a period of 24 months will be charged $9 per quarter on balances less than $1,000. Money Market accounts with no deposit or withdrawal activity for a period of 24 months will be charged $15 per month. In addition, standard service charges for your account will continue to be assessed. Customer activity constitutes a deposit or non-electronic check presentment. Automated Clearing House (ACH) transactions do not constitute customer activity.


    Will my interest calculation basis change because of leap year?

    Although USAmeriBank is calculating interest on a 366-day basis for leap year, Valley National Bank calculates interest based upon a 365-day basis. In some cases, Valley uses a 360-day basis which results in slightly higher interest payments.
     

    Will the existing funds availability policy be modified?

    Yes. Our policy is outlined below:



    We will notify you if we delay your ability to withdraw due to exceptions to Regulation CC (funds availability) and we will tell you when the funds will be available. They will generally be available no later than the seventh business day after the day of your deposit.


    Will there be cash withdrawal limitations?

    We place certain limitations on withdrawals in cash or by similar means (i.e. Cashier Checks, Wire Transfers, etc.). In general, cash withdrawal availability may be extended by one business day from normal availability schedule. The first $200 of a deposit is available for withdrawal in cash on the first business day after the day of deposit. The remainder of a deposit is normally available for withdrawal in cash on the second business day after deposit. The time of availability for cash withdrawals will be after 5 PM ET on the day of availability. (Note: All funds that make up a deposit would be available for withdrawal by check on the second business day after the day of deposit, provided the account is not on extended holds, if the check is presented to us through the Federal Reserve System).
     

    What happens when my Certificate of Deposit (CD) matures?

    If your CD is automatically renewable, it will renew at the then current rate available for that specific CD term. If you have a non-renewable CD, you’re invited to stop by any branch to reinvest the funds in another account or CD product of your choice.


    What penalties will be assessed if I withdraw the funds from my CD early?

    The following early withdrawal penalties will apply for all new accounts opened after close of business on May 4th, and for maturing accounts that rollover after close of business May 4th:

       • Less than 1 year — 90 days loss of interest on the amount withdrawn
       • 1 year but less than 2 ½ years — 180 days loss of interest on the amount withdrawn
       • 2 ½ years but less than 5 years — 365 days loss of interest on the amount withdrawn
       • 5 years and greater — 540 days loss of interest on amount withdrawn

    Existing USAmeriBank CD accounts will maintain their existing penalty structure until maturity.


    How will I be notified about my CD and IRA account activity?

    A final USAmeriBank CD or IRA account statement will be generated in May and will include your transaction history through Friday, May 4th. In the meantime, you can always check your account balances anytime, anywhere by using Banking-By-Phone, Personal Online Banking and Mobile Banking or Business Online Banking.


    When will I receive my personal or business savings account statement?

    Your final USAmeriBank savings account statement will be generated in May and will include your transaction history through Friday, May 4th. You’ll receive your first abbreviated Valley savings account statement soon thereafter. Personal and business savings account statements will be processed either monthly or quarterly, following the same schedule of your current USAmeriBank account.


    If I close my interest-bearing account, will interest be paid?

    If your interest-bearing account is closed prior to the statement cycle closing date, interest will not be paid at closing.
     

    Will I still be able to combine account balances to increase my rates on the money market accounts?

    Valley does not offer an increased rate for combined balances between accounts;but will, however, honor your existing rate until the guaranteed rate end date.

  • FDIC Insurance Coverage

    Will my FDIC coverage be affected if I already have $250,000 on deposit at Valley?

    The FDIC will provide separate insurance, in addition to FDIC Insurance of your current Valley deposits, for at least a six-month period on all former USAmeriBank deposits that have been assumed by Valley. The FDIC provides separate insurance for the assumed deposits for a six-month period beginning January 1, 2018.

    In the case of Certificates of Deposit (CDs) and Individual Retirement Accounts (IRAs), the FDIC provides separate insurance up to the earliest maturity date after the six-month period. For CDs and IRAs, which mature during the six-month period following January 1, 2018 and are renewed at the same dollar amount for the same term as the original deposits, the separate FDIC insurance is applicable to the renewed deposits until the first maturity date after the six-month period. CDs and IRAs, which mature during the six-month period following January 1, 2018 and are not renewed or are renewed on any other basis, are separately insured by the FDIC only until the end of the six-month period.

    After the term of the separate insurance has concluded, all former USAmeriBank and current Valley deposits in the same ownership capacity will be combined when determining your total FDIC insurance coverage. Our customer service representatives will be available to work with you to help explain how you can allocate the ownership capacity of your accounts to maximize your FDIC insurance coverage. For your convenience, we encourage you to visit the FDIC’s Electronic Deposit Insurance Estimator (EDIE) at https://www.fdic.gov/edie/ to help you know how the insurance rules and limits apply to your specific group of deposit accounts.
  • ATM and Debit Card

    Will I be able to continue to use my USAmeriBank Debit Card or Business Debit Card?

    Your USAmeriBank Debit Card or USAmeriBank Business Debit Card can continue to be used until further notice. A letter with your new Valley Visa® Debit Card or Valley Visa® Business Debit Card will be mailed to you on or about April 16th with instructions for its use. You may begin using your new card after 3 AM ET on May 7th. You can activate your new card as soon as you receive it. Any automatic payments set up using your USAmeriBank Debit Card will need to be updated and added to reflect your new Valley card information.

    One great feature of Valley debit and credit cards is you can connect them to your smartphone’s Mobile Wallet, letting you make quick and secure payments anywhere Apple Pay®, Google PayTM and Samsung Pay® is accepted. All you have to do is add your card(s) to the app and make payments at participating merchants using fingerprint technology to activate and confirm your payment.
     

    Will my ATM access be impacted?

    We’ll be replacing or upgrading ATMs beginning in mid to late April. As we migrate to the new ATM machines, there may be periods where you will only have access to make cash withdrawal transactions. More detailed notifications will be available in the branch for your convenience. After our system conversion on the weekend of May 4th, all ATM machines in the network will have full functionality including deposit capabilities of cash and check without the use of an envelope.
  • Personal Online, Mobile, Telephone Banking and Paperless Statements

    How will I access my accounts online?

    If you’re currently using online banking, you will automatically be enrolled. Personal banking customers will be able to access their accounts using Valley’s Personal Online and Mobile Banking, which includes bill payment, mobile deposit and text message banking. This service connects you to your accounts from anywhere, anytime using a computer, tablet or smartphone. Beginning May 7th, you’ll be able to access your accounts by visiting ValleyNationalBank.com, hovering over “Sign In,” and selecting “Personal/Small Business” which will launch a login page that also features other online banking solutions.
     

    What is my Personal Online Banking user identification and password?

    Your current USAmeriBank User Name will be your User ID for Personal Online Banking. Your Temporary Password will be mailed to you separately on or about April 23rd, and will expire on May 21, 2018. If you’re using your Social Security Number as your User ID, you’ll be required to change it for security reasons. For enhanced security, you will also be required to enter a phone number to receive a verification code either by a telephone call or text message. Once you receive the code, you’ll be required to enter it online in the field provided. If you’re logging in from a trusted computer, you can register your computer as “private” and will only be required to enter the code once to verify your identity. If you don’t register your computer as “private” or login from an unrecognized computer or device, you will be required to obtain a verification code each time.
     

    How can I enroll in Personal Online Banking and/or Bill Payment?

    If you are interested in enrolling in Personal Online Banking, please visit ValleyNationalBank.com after May 7th, hover over “Sign In,” select “Personal/Small Business”, then select “Register for online access” and follow the prompts. Once you have completed enrollment, you will receive a confirmation email. If you are interested in using bill payment, you may enroll for free by clicking on the “Bill Pay” tab once you’ve logged into online banking. Bill payment is only available for use from a checking account.
     

    Will my bill payment payees and transactions convert over?

    Your payees and six (6) months of payment history will be automatically converted and may not be available for viewing until on or about May 9th. During the week of April 30th to May 4th, please do not schedule any new payments, make any changes or edits to future dated payment amounts or dates. Any new payments or changes after April 30th may not be converted and will have to be re-entered on or after May 7th. After the system conversion takes place, the manner in which your bill payment transactions are processed will change. Please make sure you verify that the correct checking account is selected as your primary default funding account for bill payments. Your payments will process on the date you request them to be sent, but your account will be debited via an automatic debit (ACH) 1-2 business days after the scheduled payment date. Once a processing date is selected, a “Deliver by” date will also be displayed. Please be sure to maintain adequate funds in the account until the payment is deducted in order to avoid any overdrafts. When the transaction is processed, the description will appear on your account as “Payee’s Name Bill Paymt.” You may not initiate a single bill payment transaction greater than or equal to $10,000 nor can the daily aggregate amount for bill payment transactions exceed $19,999.99 per business day.
     

    Will I be able to continue to make transfers between my accounts using Personal Online Banking?

    Yes. You’ll be able to transfer funds between your Valley checking, statement savings and money market accounts as well as the capability to schedule recurring or future dated transfers. You may also make payments to your Valley residential mortgage, home equity loan or line of credit, auto loan and personal loans by making a transfer, schedule recurring or future dated transfers. Customers that have a line of credit may also be able to draw from it by transferring funds to their deposit account. Will my recurring transfers and payment reminders stay in place with Personal Online Banking? After May 7th, you will need to re-enter all recurring internal transfers and payment reminders scheduled prior to online banking system conversion.
     

    Will my recurring transfers and payment reminders stay in place with Personal Online Banking?

    After May 7th, you will need to re-enter all recurring internal transfers and payment reminders scheduled prior to online banking system conversion.
     

    How can I enroll in Personal Online Banking SMS Text and Mobile Banking?

    Online and Mobile Banking, including mobile deposit and text message banking, are complimentary to all customers. Please follow these steps to activate it:

       • Log into Online Banking from a computer
       • Click the “Additional Services” tab followed by the “Mobile Banking & Alerts” link
       • Click “Activate” to enroll in text banking and follow the three simple steps

    If you’re currently using Mobile Banking, you will automatically be enrolled. Download Valley’s Mobile Banking app by visiting the Apple® App Store, Amazon® Appstore or the Google PlayTM store. The USAmeriBank Mobile App will be discontinued.

    When using Valley’s Mobile App, you’ll be able to view your account balance(s), view check images, deposit checks using Mobile Deposit, transfer funds, pay bills, view your Paperless Statements and locate a branch near you. Download Valley’s Mobile App today. Data rates may apply; please contact your wireless phone provider for details. Mobile Deposit is only available using our Mobile App.
     

    Will I continue to receive my statements electronically?

    If you’re currently receiving your checking and statement savings account statements electronically, you’ll need to re-enroll by accepting the Paperless Statements disclosure once you have logged into Online or Mobile Banking. We recommend that you download your account history, account statements and print any needed check images prior to May 4, 2018, for your records. Beginning May 7th, your prior USAmeriBank account history, check images and electronic account statements will no longer be available.

    All other personal deposit and loan accounts that receive Paperless Statements will continue to receive them uninterrupted. The terms and conditions for Paperless Statements are located online for your convenience. By continuing to receive Paperless Statements you agree to these terms and conditions.
     

    What is Banking-By-Phone?

    All Valley customers are automatically enrolled in Banking-By-Phone. It conveniently allows you to check your account balance(s), transaction history, transfer funds or make payments to your Valley loan(s) at no additional cost to you.
     

    Will my USAB Voice Banking access continue uninterrupted?

    Your USAB Voice Banking can be accessed until 6 PM ET on Friday, May 4th.
     

    How can I access Valley’s Banking-By-Phone system?

    After Monday, May 7th, please call 800-522-4100 and press 1 on your telephone keypad. Enter the information requested with the Personal Identification Number (PIN) that will be mailed to you separately on or about April 23rd. Once you access Valley’s Banking-By-Phone, you’ll be prompted to change your PIN for security purposes.
     

    When is Banking-By-Phone updated?

    Banking-By-Phone is updated immediately for debit card transactions, cash deposits and cash withdrawals. Check deposits will be adjusted in your ledger balance at the time of the transaction, but will not be reflected in the available funds information. Loan payment transactions will be posted within 24 hours.

     

    Downloadable instructions in order to avoid loss or duplication of transaction history:

  • Automated Clearing House (ACH) Processing

    Beginning on May 7th, ACH deposits and payments will be posted to your account immediately when received, rather than processing that evening. This means that deposits will be made available in your account sooner than before, but also that payments will be withdrawn from your account earlier. Please make any necessary adjustments to ensure that funds needed to cover these incoming payments are on deposit in the morning to avoid a potential overdraft and return of your payment.


    What is Valley’s routing code or ABA Number for ACH processing?

    You may continue to use the same routing code or ABA Number, for incoming ACH transfers which is 063116177. We highly recommend that you use Valley’s ABA Number 021201383 for any future ACH processing.


    Frequently Asked Questions

    Will the cutoff time for delivering files to the bank change? No, the cutoff time for receiving ACH files will remain the same and continue to be 5:30 PM ET.

  • IOTA and IOLTA Accounts

    How will interest on IOTA and IOLTA accounts be handled?

    The interest on IOTA and IOLTA accounts will post to the attorney account at the end of the month. The interest will be debited/withdrawn the next business day and sent to the Florida Bar Association, Alabama Law Foundation, or other State Bar Association as applicable. Also, the attorney account will be linked to the Florida Bar Association, Alabama Law Foundation, or other State Bar Association and will bear the applicable State Tax Identification Number.
  • Domestic Wire Transfers

    Outgoing Domestic Wire Transfers

    How can I send an outgoing domestic wire transfer?

    You may send a domestic wire transfer by visiting a local branch or by using Business Online Banking. If you have an agreement on file with the Bank, you may fax wire transfer requests.
     

    What are the fees associated with outgoing domestic wire transfers?

    Please refer to the Schedule of Fees included in this package.
     

    What is the daily cutoff time for outgoing domestic wire transfers?

    The daily cutoff time for domestic wire transfers is 5 PM ET and 4 PM CT, Monday through Friday.


     

    Incoming Domestic Wire Transfers

     

    Will the routing code or ABA Number change for incoming domestic wire transfers?

    Although you can still receive incoming wires using the 063116177 code, we recommend using Valley’s ABA number 021201383 for any future wires.


    What instructions do I need in order to receive an incoming domestic wire transfer to my account at Valley?

    Wire transfer funds from the remitter’s bank need to be directed to the Federal Reserve Bank (FED) for further credit along with the following information:

    Valley National Bank
    ABA 021201383
    Your account number
    Your full name and address
    The name(s) and address(es) of the remitter
    The remitting financial institution


    How do I access Valley’s online banking transfer system for domestic wire and/or foreign wire transfers?

    All domestic and foreign online wire transfers for Business Online Banking clients will continue to be processed through the Business Online Banking platform, if you have a wire agreement on file with the Bank. You’ll be able to send wire transfers from anywhere you have internet access. Beginning May 7th, you’ll be able to access your accounts using your existing login credentials by visiting ValleyNationalBank.com, hovering over “Sign In,” and selecting “Business Banking” which will launch a page featuring various online banking solutions. To access your accounts, choose “Business Online Banking.”


    Will I receive a callback verifying my PIN for each of my wire transfers?

    No. You will only receive a call back if your wire amount exceeds $10,000 and was not performed through Business Online Banking or in a branch.
     
  • International Wire Transfers

    Outgoing International Wire Transfers

     

    How can I send an outgoing international wire transfer in a Foreign Currency or in U.S. Dollars?

    You may send an international wire transfer by visiting a local branch or by using Business Online Banking. Fax requests are available for business customers if an agreement is on file with the Bank.


    What foreign currencies are available?

    Valley offers 125 different foreign currencies for wire funds transfers.
     

    What are the fees associated with outgoing and incoming international funds transfers?

    Please refer to the Schedule of Fees included in this package.


    What is the daily cutoff time for outgoing international wire transfers?

    The daily cutoff time for international wire transfers is 3:45 PM ET and 2:45 PM CT, Monday through Friday.


     

    Incoming International Wire Transfers


    What are the payment instructions to receive international incoming wire transfers?

    The following information is required for incoming payments to be properly credited to your account:

    Valley National Bank’s SWIFT Code – MBNYUS33
    Your account number
    Your full name and address
    The name(s) and address(es) of the remitter
    The remitting financial institution

    Instructions for international incoming wire transfers are:

     
  • Foreign Check Collections

    How do I collect a check payable from a foreign bank?

    Canadian checks, either in Canadian or USD may be deposited directly into your account as long as they are under $25,000. Canadian checks over $25,000 will be sent for collection.

    All other currencies, including USD foreign checks, drawn on foreign entities must be presented to a local bank representative who will process the check for collection.
     

    Are there fees associated with foreign check collections?

    Yes. Please refer to the Schedule of Fees included in this package.
  • Loan Payments and Advances

    How do I make my commercial loan or mortgage payment?

    All commercial loan, commercial line of credit and commercial mortgage customers will receive a monthly statement that includes the transaction history, payment amount and payment due date information. To make a payment send a check made payable to Valley National Bank, mail it to the address below or by bringing it to any one of our convenient branch locations.

    Valley National Bank
    Loan Operations Department
    Post Office Box 17540
    Clearwater, FL 33762-7540

    If you do not have a checking account with Valley or prefer to make your payment electronically, visit ValleyNationalBank.com, hover over “Sign In,” and select “Business Banking.” Select “Online Loan Payment” from one of the options listed, enter your loan account number and follow the prompts to make an electronic loan payment.


    How do I make my residential mortgage loan payment?

    All residential first mortgage loan customers will receive monthly statements as you do today approximately 15 days prior to their due date. You can make payments by transferring funds from your Valley checking account to your Valley loan using Personal Online or Mobile Banking, sending a check made payable to Valley National Bank, mailing it to the address below or by bringing it to any one of our convenient branch locations.

    Valley National Bank
    P.O. Box 954
    Wayne, NJ 07474-0954
    If you do not have a checking account with Valley or prefer to make your payment electronically, visit ValleyNationalBank.com, hover over “Sign In,” and select “Personal/Small Business,” Select “Online Loan Payment” from one of the options listed, enter your loan account number and follow the prompts to make an electronic loan payment.
     
    Valley National Bank does not credit partial payment to your mortgage account but holds those funds in an Unapplied Account tied to your mortgage loan. Once a full payment is received, the system will automatically make your monthly payment. If a full payment is received after the late date, a late charge will be assessed.
     

    How do I make my consumer loan payment?

    All automobile, personal or home equity term loan customers will continue to receive a monthly billing statement approximately two weeks prior to the due date. Upon receiving your monthly billing statement, you can make payments by transferring funds from your Valley checking account to your Valley loan using Personal Online or Mobile Banking, sending a check made payable to Valley National Bank and mailing it to the address below or by bringing it to any one of our convenient branch locations.

    Valley National Bank
    PO Box 953
    Wayne, NJ 07470-0952
     
    If you do not have a checking account with Valley or prefer to make your payment electronically, visit ValleyNationalBank.com, hover over “Sign In,” and select “Personal/Small Business,” select “Online Loan Payment” from one of the options listed, enter your loan account number and follow the prompts to make an electronic loan payment.

    All home equity and executive lines of credit will receive monthly statements, and payment information will be included on the statement. Your home equity and/or executive line of credit cycle date will change to the 24th of every month, starting May 24th. This means you’ll have five additional days of interest due with your first payment to Valley National Bank. Upon receiving your monthly billing statement, you can make payments by transferring funds from your Valley checking account to your Valley loan using Personal Online or Mobile Banking, sending a check made payable to Valley National Bank and mailing it to the address below or by bringing it to any one of our convenient branch locations.

    Valley National Bank
    PO Box 952
    Wayne, NJ 07470-0952

    If you do not have a checking account with Valley or prefer to make your payment electronically, visit ValleyNationalBank.com, hover over “Sign In,” and select “Personal/Small Business,” select “Online Loan Payment” from one of the options listed, enter your loan account number and follow the prompts to make an electronic loan payment.
     

    Can I advance on my home equity line of credit through Personal and Business Online Banking?

    If you are already able to advance money on your home equity line of credit using Personal and Business Online Banking you will continue to do so uninterrupted.


    We are here to answer your questions

    For more information or if you have any other questions, please call Customer Service at 800-522-4100 from 6 AM – 11 PM ET, 7 days a week or speak with your Bank representative. For calls made from outside of the U.S. and Canada, please call 973-305-8800.


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