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Giftsforbanking.Com

I opened an account. Took about a week to get the email that the account was funded. I then tried to call, over and over. Can never get anyone on the phone. So I emailed and emailed again. I left phone messages for them to call me back. Nothing! Its' been three weeks since my account was funded and I haven't got the email for the free gift. I haven't gotten a reply. It's like they have fallen off the face of the earth. Now I'm worried about the money I deposited. .

So Far So Good

Last time they had simillar deal with gift certificates (Apple and iTunes) , I had no issue what so ever going through the process of opening CD and receiving gifts. I contacted them multiple times (iGoBanking and people who issue gifts) since it sounded fishy back then and I had no issues. The one thing that they can imporve is the look and feel of their website. It looks like some college passout came up with the website to learn the technology...it's going to cost this bank one star in rating.



Health

Data for Q4 2013

Institution Health

A

Texas Ratio

GRADE:
A

The Texas Ratio is an indicator of how much funds a bank has available compared to the total value of loans considered at risk. As of December 31, 2013 GiftsforBanking.com had $52.34 million in non-current loans and owned real-estate with $481.36 million in equity and loan loss allowances on hand to cover it. This gives GiftsforBanking.com a Texas Ratio of 10.87% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Deposit Growth

GRADE:
A+

In the past year, GiftsforBanking.com has increased its total deposits by $2.55 billion, resulting in 366.06% 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 GiftsforBanking.com has shown is excellent.

Capitalization

GRADE:
B+

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. GiftsforBanking.com has $4.73 billion in assets with $481.36 million in equity, resulting in a capitalization level of 10.19%, which is above average.

Institution Statistics

Overall
FDIC Certificate #58564
Year Established2007
Employees371
Primary RegulatorFDIC
Assets and Liabilities
Assets$4.73 billion
Loans$3.40 billion
Deposits$3.25 billion
Equity Capital$449.58 million
Loan Loss Allowance$31.78 million
Unbacked Noncurrent Loans$49.35 million
Real Estate Owned$2.99 million
Historic Data - December 2012
Assets$769.49 million
Equity Capital$70.28 million
Loan Loss Allowance$0
Real Estate Owned$0
Profit Margin - Quarterly
Net Interest Margin3.34%
Return on Assets0.87%
Return on Equity8.99%
Interest Income$203.89 million
Rates
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Always verify rates and promotions with the bank or credit union. We are not GiftsforBanking.com, we are a rate comparison website and can not provide official rates or promotions.

GiftsforBanking.com CD Rates

DetailsAPYMINMAXPRODUCT
0.25%$5k-5 Year CD Gifts
0.15%$5k-3 Year CD Gifts
0.10%$5k-2 Year CD Gifts
Locations

GiftsforBanking.com is an Internet only bank and does not have branch locations. Its headquarters is located at 144-51 Northern Boulevard - Flushing, NY 11354