Virtual Bank eMoney Market Account $20 Referral Bonus

I thought I closed my Virtual Bank account more than a year ago (that is, I can no longer log in). But apparently my account seems to be still alive, except that there’s no money in it.

Anyway, I successfully logged into my account at Virtual Bank tonight and saw their Refer a Friend program they are having now for the eMoney Market account. Since I don’t use this account any more, I don’t know too much about it, but here’s a quick look at what’s being offered (the first thing I look at a bank is their interest rate, assuming the bank is FDIC insured). The account has a tiered rate structure depending on the account balance:

• Under $10,000.00: 2.28% APY
• $10,000.00 – $24,999.99: 3.05% APY
• $25,000.00 – $49,999.99: 3.25% APY
• $50,000.00 – $99,999.99: 3.30%  APY
• $100,000.00 and up: 3.51% APY

Though the minimum balance required to open an account is only $100, that amount of money won’t earn you too much return. You have to have at least $10,001 to get the 3.05% APY. Well, if you ask me, then your money can be better served at other banks that offer better rates and require lower minimums (FNBO Direct 3.25%, E*Trade 3.20%, EverBank 3.93%, and DollarSavingsDirect 4.00%, to name a few).

If you are interested in getting a Virtual Bank eMoney Market Account, you can use the Contact form to request a referral link and get $20 bonus.

BTW, Virtual Bank is a division of Lydian Private Bank, which has been insured by the FDIC since April 6, 2000 (FDIC Certificate number 35356).