Doral Direct is the online branch of Doral Bank, a community bank and Member FDIC. Doral Bank is an wholly-owned subsidiary of the bank holding company Doral Financial Corporation which trades on the New York Stock Exchange.
I opened a 12 month CD last year with Doral & they held the check for approx. 3 weeks without depositing it. When I complained they said that they needed some info not asked for on their form and was planning to write me a letter. I wrote to the Feds & Doral apologized and agreed to enter the account dated when they received the check.
Now when the CD came due they are making it VERY difficult to get my money back. They will not give you a supervisor & do not return promised calls. They do not respond to emails. They are not letting me access my account online.
I will never use this bank again.
Doral Direct is a bad bank!
PEOPLE SHOULD KNOW THAT THE BAUER STAR RATING ON THIS BANK IS "ZERO-STAR", THE LOWEST FINANCIAL RATING THAT BAUER GIVES. BAUER RATINGS ARE BASED ON THE QUARTERLY FINANCIAL REPORTS REQUIRED OF ALL BANKS
Applying was easy enough and customer service was fabulous. Had some issues about the information I needed to supply but called and was greeted by warm, friendly and but most of all extremely knowledgable service reps. What a relief! Very competitive rates too and happy to have found them. Thank you deposit accounts!
Application takes some time to complete but you can call them if you have questions. Good experience overall.
Really wonder how this bank is still operating in today's world with such horrendous customer services, my guess would be that people don't have options. Where in the world you can find a bank where you fax documents and no one knows where that document is - it takes days (3-4 days) for someone to locate a fax.
Everytime you call there is a standard 10 min wait.
A change of address takes 2 weeks. I guess planets were built during this time. I changed the address of all my "US" banks and credit cards in minutes (YES MINUTES) and this bank takes 2 weeks for a change of address.
The Texas Ratio is an indicator of how much capital a bank has available compared to the total value of loans considered at risk. As of March 31, 2014 Doral Direct had $740.98 million in non-current loans and owned real-estate with $804.68 million in equity and loan loss allowances on hand to cover it. This gives Doral Direct a Texas Ratio of 92.08% which is below average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
The Texas Ratio for Doral Direct decreased slightly from 106.31% as of March 31, 2013 to 92.08% as of March 31, 2014, resulting in a positive change of 13.38%.This indicates that the balance sheet and financial strength for Doral Direct has improved slightly in recent periods.
In the past year, Doral Direct has increased its total deposits by $176.31 million, resulting in 3.65% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth Doral Direct has shown is excellent.
Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. Doral Direct has $7.84 billion in assets with $804.68 million in equity, resulting in a capitalization level of 10.27%, which is above average.
|FDIC Certificate #||32102|
|Assets and Liabilities|
|Equity Capital||$686.56 million|
|Loan Loss Allowance||$118.11 million|
|Unbacked Noncurrent Loans||$626.59 million|
|Real Estate Owned||$114.39 million|
|Historic Data - March 2013|
|Equity Capital||$668.02 million|
|Loan Loss Allowance||$114.69 million|
|Unbacked Noncurrent Loans||$626.59 million|
|Real Estate Owned||$110.27 million|
|Profit Margin - Quarterly|
|Net Interest Margin||3.38%|
|Return on Assets||-0.74%|
|Return on Equity||-8.4%|
|Interest Income||$83.86 million|
Always verify rates and promotions with the bank or credit union. We are not Doral Direct, we are a rate comparison website and can not provide official rates or promotions.
|0.88%||$100k||-||High-Yield Money Market|
|2.30%||$500||-||120 Month CD|
|1.95%||$500||-||84 Month CD|
|1.52%||$500||-||60 Month CD|
|1.34%||$500||-||48 Month CD|
|1.21%||$500||-||36 Month CD|
|1.08%||$500||-||24 Month CD|
|1.02%||$500||-||18 Month CD|
|1.02%||$500||-||18 Month Flex CD Promo|
|0.95%||$500||-||12 Month CD|
|0.91%||$500||-||9 Month CD|
|0.87%||$500||-||6 Month CD|
Doral Direct is an Internet only bank and does not have branch locations. Its headquarters is located at 1451 F.D. Roosevelt Avenue - San Juan, PR 00920