June 4, 2024

FVCbank Review

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On the hunt for a savings account with a solid APY? FVCbank offers a high-yield savings option through Raisin. Keep reading for all the details.

5-point scale (the higher, the better)

Pros and Cons

  • High APY on savings account via Raisin
  • Various checking and savings options
  • High minimum balance for some accounts

Bottom Line

Community bank offering a high APY savings account along with a diverse range of financial products

FVCbank provides a diverse selection of banking services for individuals and businesses alike. They also offer an exclusive high-yield savings account through Raisin, perfect for growing your funds.

Whether you're looking to enhance your savings or improve your financial management, FVCbank may have the ideal account for you. So, keep reading to see what they have to offer!

What is FVCbank?

Established in 2007, FVCbank is a community bank headquartered in Fairfax, VA.[1] They have checking and savings accounts, credit cards, and various loan products, all paired with top-notch service and advanced banking technology.

FVCbank also offers a high-yield savings account with a great APY through Raisin, an online platform that works with many banks to provide savings products.

Pros & Cons


  • High APY on savings account via Raisin
  • Various checking and savings options
  • Free ATM transactions for checking
  • Accounts with no monthly fees
  • Easy-to-use online banking platform


  • $2,500 minimum balance for Personal Money Market
  • $1,000 opening deposit for CDs
  • Limited physical locations

Is FVCbank a good bank?
FVCbank is a good bank if you're after a high-yield savings account with a competitive APY to boost your savings quickly. However, it's worth mentioning that this option is currently exclusively offered through a third-party platform. Nevertheless, your funds remain secure with FDIC coverage.

Savings Accounts

FVCbank offers a high-yield savings account available exclusively through Raisin. It features a competitive APY and no fees, making it the ideal pick for boosting your funds. Plus, you can open an account with just $1.

Raisin is an online platform that partners with different banks to provide savings products with good rates, minimal fees, and low minimum requirements. It allows you to open and handle multiple savings accounts, money market accounts, and CDs all in one place.

FVCbank also provides simple savings options like First Statement Savings and First Student Savings. Both earn interest on any balance, need no minimum balance, and just $5 to open.

How to open an FVCbank account via Raisin:

  1. Go to FVCbank on Raisin and select Savings.
  2. Open an account with your name, SSN, date of birth, and address.
  3. Link a bank account so you can fund your savings product ($1 minimum deposit).

What's most important to you when choosing a savings account?

Personal Money Market

This account is for individuals who can maintain larger balances to earn better returns. You need $50 to open it, and there's a $12 monthly fee. You can avoid the fee with a balance of at least $2,500 per statement cycle.

It also includes a Mastercard check card, free ATM transactions globally, unlimited deposits at no charge, and online banking access.

What does FVCbank stand for?
FVCbank stands for First Virginia Community Bank.

Certificates of Deposit

FVCbank offers CDs with decent rates and flexible terms, ranging from 3 to 60 months. But, a minimum initial deposit of $1,000 is required to open an account.

Checking Accounts

All FVCbank personal checking accounts include online and mobile banking, a Mastercard debit card, free ATM transactions worldwide, unlimited check writing, e-statements, and online check image access.

Here are the types of checking accounts they offer and how they differ: [2]

  • Free Personal Checking
    An easy, free checking account with $0 monthly maintenance fees and no minimum balance. All you need is $50 to open.

  • Interest Checking
    With this checking account, you can earn interest on all balances. Maintain a monthly balance of at least $1,000 to avoid the $10 maintenance fee. You need $50 to open one.

  • Student Checking
    This is for students up to age 25 years old. It has no monthly fees or balance requirements, and no charge for overdrafts below $20. But, you do need a $50 minimum opening deposit.

  • Senior Checking
    For individuals who are at least 50 years old, and looking for an interest-earning checking account. It has no monthly fees, no minimum balance, and requires a $50 minimum opening deposit.

How Much Can You Earn?

Use this savings calculator to see how much your money can grow with an FVCBank account:

Savings Calculator

Fees to Look Out For

For savings, most options don't have monthly fees including the high-yield savings account offered on Raisin. However, the Personal Money Market account has a $12 monthly fee that can be avoided by keeping a balance of at least $2,500.

Meanwhile, among the personal checking options, only the Interest Checking account has a $10 monthly fee, but you can avoid it by keeping a minimum balance of $1,000.

How FVCbank Compares

Who is FVCbank Best For?

FVCbank is a solid pick for aiming to achieve their financial goals. With their high-yield savings account via Raisin, you can enjoy a competitive rate and zero fees, making it an ideal option for growing your funds.

It is also a good choice for those looking to explore other banking products. FVCbank directly offers a range of personal and business banking solutions that you can access through both physical branches and online banking.

Check for FVCbank locations here.

Is My Money Safe in FVCbank?

Yes, your money is safe in FVCbank. They are an FDIC member (Cert #58696) which means deposits are covered up to $250,000 per depositor, per ownership category.

If you're opening a high-yield savings account via Raisin, you still get to enjoy full insurance coverage from FVCbank. So, should FVCbank fail or Raisin go out of business, you are guaranteed to get your funds back.

How to Contact FVCbank
Here are several ways you can reach FVCbank via:[3]

  • Phone at (703)-436-4740 on weekdays from 9 AM to 5 PM EST
  • Website through the bank's message box
  • In-person branch visit at their locations in VA and MD

Bottom Line

FVCbank is a great option for those aiming to save money and those seeking better financial management. With their high-yield savings account through Raisin and a range of banking products in their catalog, you'll find the perfect account in no time.

On the other hand, if you're looking to explore more options, online banks and credit unions may be worth considering.

Which among FVCbank's offerings interests you the most?


  1. ^ FVCbank. About FVCbank, Retrieved 02/10/2024
  2. ^ FVCbank. Personal Checking Accounts, Retrieved 02/10/2024
  3. ^ FVCbank. Contact Us, Retrieved 05/21/2024
Bank of America
Member FDIC

Bank of America Advantage Banking - $200 Bonus Offer

Expires 9/30/2024
  • The $200 bonus offer is an online only offer and must be opened through the Bank of America promotional page.
  • The offer is for new checking customers only.
  • Offer expires 9/30/2024.
  • To qualify, open a new eligible Bank of America Advantage Banking account through the promotional page and set up and receive qualifying direct deposits totaling $2,000 or more into that new eligible account within 90 days of account opening. Bank of America Advantage SafeBalance Banking® for Family Banking accounts are not eligible for this offer.
  • Once all requirements are met, Bank of America will attempt to pay bonus within 60 days.
  • Additional terms and conditions apply. See offer page for more details.
  • Bank of America, N.A. Member FDIC.
Member FDIC

Chase Total Checking® - $300 Bonus

Expires 10/16/2024
  • New Chase checking customers enjoy a $300 bonus when you open a Chase Total Checking® account with qualifying activities
  • With over 4,700 branches, Chase has the largest branch network in the U.S. plus access to more than 15,000 ATMs.
  • Chase Mobile® app - Manage your accounts, deposit checks, transfer money and more -- all from your device.
  • JPMorgan Chase Bank, N.A. Member FDIC
  • Open your account online now
  • Available online nationwide except in Alaska, Hawaii and Puerto Rico. For branch locations, visit locator.chase.com.
  • Chase Overdraft Assist℠ - no overdraft fees if you're overdrawn by $50 or less at the end of the business day or if you're overdrawn by more than $50 and bring your account balance to overdrawn by $50 or less at the end of the next business day*
Discover Bank
Member FDIC

Discover® Online Savings - $200 Cash Bonus

Expires 9/12/2024

To qualify for Bonus: Apply for your first Discover Online Savings Account, enter Offer Code CY624 at application, deposit into your Account a total of at least $15,000 to earn a $150 Bonus or deposit a total of at least $25,000 to earn a $200 Bonus. Qualifying deposit(s) may consist of multiple deposits and must post to Account within 45 days of account open date. Maximum bonus eligibility is $200.

What to know: Offer not valid for existing or prior Discover savings customers, including co-branded, or affinity accounts. Eligibility is based on primary account owner. Account must be open when bonus is credited. Bonus will be credited to the account within 60 days of the account qualifying for the bonus. Bonus is subject to tax reporting. Offer ends 09/12/2024, 11:59 PM ET. Offer may be modified or withdrawn without notice. See advertiser website for full details.

CIT Bank
Member FDIC

CIT Bank Platinum Savings - 5.00% APY

  • 5.00% APY with a balance of $5,000 or more
  • 0.25% APY with a balance of less than $5,000
  • $100 minimum opening deposit
  • No monthly maintenance fee
  • Member FDIC

Free Business Checking - Up to 2.0% APY

  • 2.0% APY on your balance up to $250,000 for customers that meet monthly eligibility requirements
  • $0 minimum opening deposit
  • $0 monthly service fee
Banking services provided by Coastal Community Bank, Member FDIC

Darlene Santos is a research analyst at CreditDonkey, a bank comparison and reviews website. Write to Darlene Santos at darlene.santos@creditdonkey.com. Follow us on Twitter and Facebook for our latest posts.

Note: This website is made possible through financial relationships with some of the products and services mentioned on this site. We may receive compensation if you shop through links in our content. You do not have to use our links, but you help support CreditDonkey if you do.

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