Vectra Bank Colorado

Questions and Answers About Vectra Bank Accounts

Questions & Answers About Vectra Bank Accounts

Questions & Answers About Vectra Bank Accounts

Review the questions below to get answers to some of the questions we get about online accounts.

What do I need to open an account with Vectra Bank?

To complete this application:

  • You must be 18 years of age or older.
  • You must be a U.S. Citizen or U.S. Resident Alien with a Social Security number.

In addition you will be asked to provide:

  • A current U.S. Driver’s License number or State ID Card number.
  • A current U.S. home address and previous home address (If you have lived at your home address for less than two years).
  • A U.S. checking or savings account number, or a check, to fund your new account.
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Is my online application secure?

Vectra Bank uses encryption technology to provide secure transmission of information along the Internet by encoding the transmitted data. A “closed lock” icon on your browser will tell you that encryption is being used on a Web page you are viewing. Any Web address beginning with “https://...” indicates the page you are viewing uses encryption. The “s”stands for “secured”.

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What information do I need to open a joint account?

The same information that is required for opening an individual account will be required from each of the joint applicants. For details, select “What do I need to open an account with Vectra Bank?” above. Please note that each applicant will need to sign the signature card. For accounts opened online, there is a maximum of two signers per account.

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What do I do if I need help?

If you have any questions, please contact a Vectra Bank Web Account Specialist toll–free at 1-866-251-2180. Our Online Banking Center hours are Monday through Saturday, 8:00 am to 8:00 pm. You can also email us at Internet.Bank@vectrabank.com

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Why is personal information required to open an account online?

The personal information that you provide allows us to verify your identity. (For more information, select “What do I need to open an account with Vectra Bank?” above.)

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Is a minimum deposit required to open an account online?

Yes, we offer several different accounts online with minimum deposit requirements. Please refer to the chart below:

Checking Accounts $50.00
Money Market Accounts $1,000.00
Savings Accounts $50.00
Internet Savings Accounts N/A
Personal Certificates of Deposit $1,000.00
Jumbo Certificates of Deposit $100,000.00
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When is the opening deposit processed?

Electronic transfers from your existing account at another financial institution are processed within five business days. Based on the completion and approval of your application, you can expect your new Vectra Bank account to be opened within 5 – 7 business days.

If you are a Vectra Bank customer and are transferring money from an existing account with us, the transfer will occur on the business day your account is opened. Check(s) will be deposited to your account on the business day your account is opened.

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Can I change the information on my account application?

You have the option to edit your account information, including the initial deposit amount, prior to submitting the information to Vectra Bank. Simply, click on the “Edit” button above the grouping of information you would like to change, and you will be permitted to change your input.

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What is the contact information for Vectra?

  • Contact Email Address: Internet.Bank@vectrabank.com
  • Contact Phone Number: 1-866-251-2180
  • Hours of Operation: Monday through Friday, 8:00 am to 6:00 pm.
  • Website URL: www.vectrabank.com
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Once I make the opening deposit electronically, is my information saved
in the system so I can make additional electronic transfers?

The information that you entered is used to process your initial electronic transfer only; It does not constitute authorization for future transfers. For future electronic transfers, please log in to Personal Online Banking and navigate to the Transfers page. Select Other Accounts, then Add an External Account, completing the required information. After the transfer has been authenticated and validated, you may begin to process transfers online. The External Transfer feature is not available within Business Online Banking.

Please note that you may make internal transfers between your Vectra Bank accounts at any time by logging into Online Banking and selecting the Transfers tab. To transfer between business and personal accounts, a Multi–Party Addendum is required.

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When will I start earning interest?

We accrue interest daily on collected funds no later than the business day on which we receive credit for such funds. Deposits made by electronic transfer will begin to earn interest once the funds are received from the other bank, usually within three business days. Interest begins to accrue no later than the business day we receive credit for non-cash items (for example, checks).

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What happens after I complete the application?

Shortly after you complete your application, you will receive an email from Vectra Bank confirming the status of your application and giving you further information regarding your account. Upon approval, you will receive a Welcome Letter and an initial supply of checks and/or deposit slips within 5–7 business days. If you have ordered a debit or ATM card, you can expect to receive it within 7–10 business days.

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What information do I need to open a small business account?

You will need to provide the business name, physical address, phone number and EIN. We will also need to receive a copy of your business ownership documents, such as; Articles of Incorporation, Partnership Agreement, Articles of Organization for an LLC or a Trade Name Registration. Please send the requested documents to us by one of these methods: scan and email, fax or by U.S. Mail.

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What information do I need to open a Trust Account?

You will need to provide the legal name of the Trust, the Tax ID number for the Trust and the names and personal information for the Trustees. We will also need copies of certain pages of the Trust agreement; the Title page, the Trustee page(s) and the Signature and Notarization pages. Please send the requested documents to us by one of these methods: scan and email, fax or by U.S. Mail.

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Is a minimum deposit required to open a business account online?

Yes, we offer several different accounts online with minimum deposit requirements. Please refer to the chart below:

Business Checking Accounts $100.00
Business Savings Accounts $100.00
Business Online Savings Accounts N/A
Business Money Market Accounts $1,000.00
Business Certificate of Deposit $1,000.00
Business Jumbo Certificate of Deposit $100,000.00
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