Are my deposits in the High Yield Savings account FDIC insured?

Yes. Xenith Bank is a digital banking division of Atlantic Union Bank. Xenith Bank and Atlantic Union Bank are the same FDIC-insured institution. Deposits are held at Atlantic Union Bank, member FDIC. For purposes of FDIC coverage, deposits under each trade name are not separately insured, but are combined to determine whether a depositor has exceeded the FDIC limit.

Are there any fees for using High Yield Savings?

No, there are no fees associated with this account.

Is there a minimum deposit required to open a High Yield Savings account?

Yes, a $100 minimum opening deposit amount is required.

Is there a minimum balance I must maintain?

No, once an account is opened with at least $100, there is no minimum balance requirement. It’s your money, so use as much as you need. 

Where are my High Yield Savings account funds held?

Your funds are held with Atlantic Union Bank, Member FDIC.

How is interest calculated?

The interest for the High Yield Savings Account accrues daily and is paid to you monthly. Interest calculations start on the first business day your funds are received. Closed accounts may forfeit unearned interest.

Can I have more than one High Yield Savings account?

No, you can only maintain one High Yield Savings Account with Xenith Bank.

Will my rate change?

Periodically, we adjust interest rates to align with current economic conditions. By regularly evaluating the rates we offer, we can provide the most competitive rate possible.

How do I transfer funds in and out of my account?

You will link a funding account upon account opening, and you can transfer funds to and from this linked account at any time. You cannot have more than one linked account.

When will funds be available after I deposit them into my High Yield Savings account?

Funds received by ACH transfer initiated from the designated linked account to your account will generally be available four (4) business days after you initiate the ACH transfer.

How long does it take to transfer funds from my High Yield Savings account back into my designated linked account?

Generally transactions are available the next business day; however, they can take up to five (5) business days to complete based on when they’re requested.

What can I use to fund my High Yield Savings account?

A checking or savings account maintained at a U.S. financial institution that is either owned by you individually or jointly with another person as long as you maintain control over such account.

What is the process for changing my linked account?

Any change to your linked account must be made by logging in at XenithBank.com and sending a secure message to Xenith Bank. Changes to your linked account are subject to Xenith Bank approval and, depending on the circumstances, may result in your High Yield Savings Account with Xenith Bank not being accessible for a period of time.

My linked account has been closed. How do I update my linked account and transfer funds to/from my High Yield Savings account?

Please log into your account at XenithBank.com, and send a secure message to indicate that your linked account has been closed. Please include the reason for closure (for example, closed due to fraud, closed at your election, etc.). Xenith Bank will then restrict your High Yield Savings Account and may require you to complete additional information in order to authenticate and validate the change to your linked account.

How do I make deposits and withdrawls?

To move money in or out of your High Yield Savings account, all transactions must be initiated within your account portal. Funds can only be transferred to or from your linked external account.

1. To Deposit: Click the “Deposit” button on the home page and follow the steps to schedule a deposit.
2. To Withdraw: Click the “Withdraw” button on the home page to schedule a withdrawal.

Can I add a joint account holder?

Not at this time.

Can I add a beneficiary?

Yes, you can add one or more beneficiaries during or after account opening; however a trust cannot be added as a beneficiary. Click on “My Account” and then “Add Beneficiary.”

I’m having trouble logging in. How do I gain access to my account?

Please email us at support@XenithBank.com and we will help you regain access to your account.

How do I contact customer service?

You may contact customer service via the secure message center or by emailing us at support@XenithBank.com. Please never send your personal information, including your account information, to us or anyone else.

Is there a downloadable app for my mobile phone or other devices?

No. However, you can access your account on your computer, smartphone or mobile device at XenithBank.com. We strongly recommend that you bookmark the site for easy access.

What if I suspect fraud on my account?

Contact us immediately via secure message or email support@XenithBank.com.

How can I change my contact information?

When you login to your account, you can change your email address or phone number under Settings. For any other changes, please reach out to us via secure message in the Message Center.

How do I close my account?

You may close your account by withdrawing all available funds and selecting “Close my account.” Alternatively, you may log into your account to contact customer service via the secure message center.

How will I receive monthly account statements?

You will receive email notifications when your monthly account statement is ready. To access statements, log into your account and click on “Documents.”

How will I receive year-end tax forms?

You will receive an IRS Form 1099-INT for your High Yield Savings account. An email notification will be sent when the form is ready. To access your form, log into your account and select “Documents” to easily view and download it.