AmericaNet Bank

This Is For Anyone Using Or Considering Americanet Bank
- Anonymous - Thursday, May 6, 2010 - 12:24 PM

This is for anyone using or considering AmericaNet Bank, be very very careful!  I put $5000 in an AmericaNet Bank savings account because they offered a 2% rate.  Every quarter I'd go online and check my account.  Well, come to find, after my one year anniversary with AmericaNet Bank they began to charge a $10/month fee.  AmericaNet Bank did not provide any notice whatsoever when they started helping themselves to my money.  It wasn't until I logged on recently for my quarterly account review I found $20 missing.  After invesitigation I found that after one year, if you don't add more money, your account is considered dormant, and AmericaNet Bank starts penalizing your account $10/month every month until you add more money.  Almost seems like extortion to me!  I've used at least a dozen online Savings accounts and have never had money drained from my account like AmericaNet Bank is doing!  No bank has ever penalized me for leaving my money in their account!  But AmericaNet Bank does!  Beware, beware, beware!  AmericaNet Bank is a sham and ripoff. 

Security/Privacy Issues
- cody_trahan - Thursday, January 27, 2011 - 7:05 PM

I am an online rate shopper and was attracted to the 1.75% in April 2010.  I opened the account online and moved $100 in to start.  As soon as I was able to login to view my new account, I came across a statement that was available for me to view in the previous statements section of the website.  Weird, because I had not had an account with AmericaNet Bank previously... I opened it up, and was very surprised to see another individuals past money market statements.  I saw their name, address and balances on the statement and was also able to view the social security number.  I immediately sent a 'secure message' to customer service letting them know.  I received a response the next day, and was told that the account I saw was a test account, not a real account, that was included in my profile in error and that it had been removed.  I logged in again, and the statement was still there.  I grew suspicious of the explanation I was given and googled the persons name and address, which I found several entries and confirmed that this was indeed a real person.  I sent yet another message letting them know that I could still see the account, and that it appeared to be real.  They did not respond after 4 days, and I asked for the account to be closed.  Hoping that my own SSN is not out there viewable to someone who would do harm...  Stay away.

Americanet Bank Web Site Atrocious
- Shorebreak - Sunday, January 23, 2011 - 6:17 PM

If it were not for it's top-tier yield on it's deposit account I would have rated AmericaNet Bank only one star. What bank sends out to it's customers that their statement is available to view then at it's web site says no statements are available upon properly following correct instructions on the site? This bank has possibly the worst site of on-line financial institutions. I thought a number of months ago that they were going to switch web designers and improve their site but I guess that never materialized. I really don't know if the measly 3/4 of a percent is really worth the aggravation.

Qualifiers To Comments Of Previous Reviewer
- patientsoul - Monday, November 15, 2010 - 9:55 AM

Dormant account fees only apply if you have neither deposited any money to the account NOR made a withdrawal in 12 months AND the bank has been unable to contact the account owner.  The only complaint I have with this bank is that it takes 5-7 business days for withdrawal transfers to an external bank account.  So, if you need to cover funds drawn against an external bank account in a hurry, forget it!

Not Worth It At All Anymore!
- coolraz - Thursday, May 31, 2012 - 8:39 PM

I used to be an AmericaNetBank customer for several years. Their yields were great, until last year when everything fell and the yields everywhere are now so low that the only differentiator is customer service. I actually like the people that work CS at ANB, they are friendly, and are AMERICAN (which nowdays is rare in customer service!). However, the big problem is that now there is NO bank to bank transfers. This means that there is no easy way to transfer money in or out of your ANB account. This alone makes the bank account wortheless. Bill pay actually has a CHARGE ($0.50) whereas all other banks I have give bill pay for free. So now, there is no reason why anyone would pick ANB anymore.

I do hope that they raise their rates so that it would make sense to bank with them again, but right now I would stay away : (

I Love This Bank!
- moka123 - Tuesday, February 28, 2012 - 6:31 PM

I really love this bank, have had it for 4 years now and have not had any issues with them. The people are really nice and my money is always right :)

Best thing about this bank is that they consistantly have a much higher rate than any other bank. Worst thing is that it does take a long time to get your money 5-7 days and can only transfer 2,500 at a time (so for 10,000 you'd do 4 transactions). once they fix that, which they did for a short period, like a couple months it only took 1-2 days, but it's back to the same 5-7 days for now, but either way I love this bank!

Account Locked, Still Not Notified As To Why
- IHateToRegister - Thursday, January 5, 2012 - 1:10 AM

I try to log in one day and it says your account is locked, please contact Administrator. But there is no contact information for this Administrator and they still haven't called me, emailed me, or sent me anything in the mail. Luckily, I was able to transfer out all my money using another bank's transfers, but now I have no way of closing it or getting the interest for the final month.

 

ps. the star rating wouldn't save using Firefox