FAQs

Whether you're just getting started with online banking or looking for more details on specific offerings, these answers will provide the clarity you need.

Savings

What are the current interest rates for savings accounts?

Our high-yield savings accounts currently earn an Annual Percentage Yield (APY) of 3.25%. This rate is variable and can fluctuate based on market conditions, but we aim to keep ours highly competitive.

How do I set up automatic transfers?

It’s easy! Just log into your Verity Spurt account, navigate to the Savings tools, and set up a recurring transfer from your checking. You can choose the amount, frequency (weekly, bi-weekly, monthly) and start date. This automates your savings.

Is my money FDIC insured?

Yes, all Verity Spurt deposit accounts like savings and checking are insured by the FDIC up to $250,000 per depositor. Your funds are just as safe with us as a traditional bank.

Can I create multiple savings goals?

 Absolutely. Our savings dashboard allows you to create unlimited customized goals and buckets to divide your money. For example, you can have pots for an emergency fund, upcoming vacation, new car, etc.

Are there any fees for savings accounts?

 Our standard savings accounts have no monthly fees as long as you maintain a minimum $500 balance. We believe your money should work for you, not be eroded by excessive charges.

What kinds of accounts can transfer into savings?

 In addition to transfers from your Verity Spurt checking, you can easily link and transfer funds from external checking/savings accounts at other banks. We also allow direct deposits like paychecks.

Registeration

What documentation is required to open an account?

To open a new Verity Spurt personal account, you’ll need to provide your contact info only, then upon withdrawal you would need to go through a final verification which needs a valid government-issued photo ID  for AML KYC verification purposes.

How long does the approval process take?

For most individual accounts, our application review and approval process usually take 1 business days from submission. Final verification cases for withdrawal could take up to 2 business days.

How long after a referral signs up do I get the bonus?

 Once your referral successfully opens their new account/loan and make a deposit, the bonus will be deposited into your Verity Spurt account within 5 business days.

How do I fund my new account?

 There are a few easy ways to fund your new Verity Spurt account – you can electronically transfer funds from an external address, initiate a direct deposit from income sources like crypto wallet.

Is there a minimum deposit to open accounts?

While this varies, we recommend an opening deposit of at least $100, opening deposit is needed to start earning interest.

Do I need to keep a minimum balance?

Always make sure your account balances are above $500 especially when you opt in for savings and loans packages. 

Referral

Just log into your Verity Spurt account, click on the “Referrals” tab, and your personal referral link will be displayed. You can then copy that link to share with friends and family.

What are the current bonus reward amounts?

 The referral bonuses is 10% on referral first deposit.

How long after a referral signs up do I get the bonus?

 Once your referral successfully opens their new account/loan and make a deposit, the bonus will be deposited into your Verity Spurt account within 5 business days.

Is there a limit on how many friends I can refer?

 No, there is no cap! You can refer as many people as you’d like and earn unlimited referral bonuses. The more the merrier!

How do referral bonuses get deposited to my account?

The cash bonuses will be automatically deposited right into your primary Verity Spurt  account associated with your profile.

What if the person I refer doesn't qualify?

 As long as they used your valid referral link and go through the application process, you’ll receive the bonus once they make their first deposit.

Crypto & Blockchain

What cryptocurrencies can I transact with?

Verity Spurt’s support cryptocurrencies like Bitcoin, Ethereum, Litecoin, as well as popular altcoins and stablecoins. We regularly evaluate adding support for new cryptocurrencies.

What fees are involved for crypto transactions?

For crypto purchases using USD, we charge a small 0-0.5% transaction fee which is lower than most exchanges. Transferring crypto out has a modest flat fee depending on the cryptocurrency. All fees are clearly displayed but wont exceed 0.5%.

Is crypto FDIC insured like cash deposits?

No, cryptocurrencies held in wallets are not currently insured by the FDIC since they are not considered fiat currencies.

Can I use crypto to pay off loans or make purchases?

 Absolutely. A key benefit is the ability to make loan payments directly from your crypto wallet balance instead of just cash accounts. You can also use crypto anywhere Verity Spurt debit cards are accepted.

How do I make loan payments?

You can easily make payments from your Verity Spurt personal banking account via free automatic drafts or one-time electronic transfers. We accept payments from external accounts as well. You also have the option to make payments directly from your crypto wallet. We deduct loan payments when your deposit funds into your account.

Loans

What types of loans do you offer?

Verity Spurt offers a variety of personal loan products including auto loans, debt consolidation loans, home equity loans and lines of credit, and personal unsecured loans for things like home renovations, weddings, or other major expenses.

How does the pre-qualification process work?

Our quick and easy pre-qualification application simply requires some basic information about your finances, employment, and the loan amount you’re seeking. This allows us to make a firm loan decision without impacting your credit score. If approved, you can then proceed with the full application.

What credit score is needed to apply?

While credit requirements vary by loan product, we generally look for scores of 660+ for auto loans, 700+ for mortgages, and 640+ for personal loans. However, we evaluate your overall financial profile, so we may still approve some applicants outside of those ranges.

How fast can I receive my loan funds?

Upon final approval, personal loan funds can typically be deposited into your Verity Spurt account within 1-2 business days. Auto loans get disbursed to the dealer within 1-2  days. Home equity and mortgage timelines vary more based on the property evaluation process.

What are the typical interest rates and fees?

Interest rates are determined by factors like your credit, income, and loan type/amount. Current APRs range from 5.99%-24.99% for personal loans, 3.99%-9.99% for auto loans, and 3.75%-7.5% for home equity products. We charge minimal fees besides an possible origination fee up to 5%.

How do I make loan payments?

You can easily make payments from your Verity Spurt personal banking account via free automatic drafts or one-time electronic transfers. We accept payments from external accounts as well. You also have the option to make payments directly from your crypto wallet. We deduct loan payments when your deposit funds into your account.

Financial Fitness Made Easy

Invite Friends, Earn Rewards 10%

We believe that better banking should be shared with those closest to you. That’s why we offer a generous referral program when you spread the word about our services.

Plan Your Financial Future with Confidence

Whether you’re planning a major purchase or consolidating debt, our loan & savings tools simplifies the process, so you can focus on achieving your goals.

Customer Testimonials

Earn Bonus. Transfer Freely. Save Smarter.

Don’t let your hard-earned money sit idle. There are never any fees to deposit funds. Earn free funds by referring.

Earn Bonus. Save Smarter.

 Why settle less? Our savings plan and rewards consistently outperforms national averages .