Incredible Bank

Incrediblebank - An Incredible SCAM!
- urhak - Friday, October 14, 2011 - 9:04 PM

I was hoping to get a decent interest on my $5000 deposit, i.e. somethng like 1.16% per year. Wow! IncredibleBank gave me $4.77 interest and applied $15 per month fee for the paper statement that I received in the mail but never requested. Every month that I had my money at the IncredibleScamBank, I lost part of it. Of course, that $15 fee was probably mentioned somewhere in their fine print. Of course, they a legit to do that scam and I am supposed to be smart enough not to deposit my money with this "incredible" offer. I then wanted to get my remaing money out of the inccredible hole as soon as possible... Not so easy! Still working on it. Do yourself a favor and don't waste your time and money on this too incredible bank.

Exorbitant Fees, Difficult To Reach...
- dwill - Wednesday, March 9, 2011 - 12:22 PM

The only upside to Incredible Bank is a marginally higher interest rate.

Unfortunately, this is eclipsed by a lot of other factors. Exorbitant fees, the bank is difficult to reach when you have issues, worst of all when you do reach a human being, nobody ever knows how to solve your problem or who to ask to get your issues fixed.

I should've known better than to start an account at a bank whose web page makes grunting noises.

I feel much better after transferring my money to a larger, more competant bank.

Unusable Online Banking Interface, Unexpected Changes In Service With High Fees
- onlinebanker - Thursday, June 21, 2012 - 4:21 PM

Lured by the relatively high interest rate, I opened an Incredible Bank account last year.  The idea was to use it for holding a 'rainy day fund' linked to my main checking account.

Once I signed up, the online banking interface immediately made me a little suspicious.  It is clumsy and ugly and unpolished compared to every other online service I currently use.  It looks like a throwback to the 1990's.

I was further put off by the difficulty of actually linking the accounts.  I had never had any trouble linking my checking account to accounts at other banks, so I can only assume the problem was with Incredible Bank.

The final straw was the surprise of receiving an old-fashioned paper statement (in typewriter font), and seeing that the bank had charged me $15 for it.  I called and was told that my account had reverted to 'offline banking' because I had not logged in for two months.  The representative said she would only give me a partial refund, but that was 2 days ago and I still do not see it in my online transaction history.

Overall, Incredible Bank is an incredibly shoddy outfit.  Not worth the tiny extra amount of interest at all.

Very Happy With Incredible
- Rob_XXYY - Friday, January 20, 2012 - 3:47 PM

My experience with Incredible bank for the past year has been terrific.

When I called the 1st time - a real person (Cindy) answered after just one ring. I've called a few times, and I always got a helpful person quickly. They also answered my emails quickly and acurately too.

They made it very clear when I called (and in follow-up emails) that I needed to signup for electronic statements to avoid the fee for paper statements - and it was fairly easy to do. If confused, just call and they will walk you thru it.

One strange thing: their "checking" account does not have checks. That is, you cannot write a personal check on the account. You can use their bill pay service to send a check (or electronic payment) but paper checks that you fill in by hand are not allowed - so this cannot be your primary checking account. They also do ACH transfers that can be entered online, but I had to first call and ask for the online ACH feature to be enabled (once enabled - it stays enabled).

Great rates (well - relative to other banks in these really low interest rate times) and excellent customer service.

Highly recommended.

-Rob

 

 

On-Line Setup
- DL10010 - Wednesday, June 16, 2010 - 11:31 AM

Had a great experience setting up online CD.  One glitch when doing fund verification process, but all else went smoothly.  Recommend speaking with Bhawika Bhakta who is responsible for the online banking if any issues.  The bank was very responsive and speedy in the account setup process compared to other banks.

Incredible Bank, It's Incredibly Difficult To Deal With
- soup2nuts - Tuesday, September 18, 2012 - 10:36 AM

How many banks and financial institutions do we all deal with in our lives?  Alot.  Well "incredible" makes it easy to accept your money, but try to get a redemption and you will spend several frustrating emails, phone calls and faxes before they can redeem a CD when in matures.  They must have experienced a large amount of fraud because it's a challenge to conduct what is normal business with other banks.  Ever been through a TSA checkpoint at an airport, done everything they asked and still almost missed your flight?  Welcome to incredible.  I would have to say, unless you are receiving a significantly above normal rate on your money, avoid this bank.

I've Tried To Open An Account 3 Times
- Anonymous - Monday, April 19, 2010 - 2:54 PM

I've tried to open an account 3 times.  Major headache with the online application.  Get to the funding page and it won't go forward.  Also impossible to cancel out of adding a beneficiary.  Called them and they say they have problems, not sure why.  Tried in both Mozilla and IE.  Doesn't look like it is possible for me to open an account.. very strange indeed... good luck.. R

Horrendous Website, Worse Service, Straight Up Theft From Account
- sdr984 - Friday, April 19, 2013 - 9:23 AM

I should have realized what I was getting into when I first saw their abnoxious flash animated landing page.  The bank is about as professional as their website (i.e. not at all).  It was a pain setting up the account and even worse just getting ahold of an ATM card.  I finally got it and things went ok for a while, but then they charged me $15 for not signing in for 6 months.  They are also starting to charge $15 for not maintaining a $300 balance.  I spoke to Bhabaika on the phone and she was incredibly rude and unhelpful.  I would recommend you stay far far away from this account as they WILL try to steal your money.

Most User Unfriendly Website I Have EVER Encountered
- QuickSilver - Thursday, April 18, 2013 - 12:44 PM

I am an existing customer of IB.  I wanted to open another account at IB.  Rather than being able to apply after I logged into my existing account, I was sent to a brand new applicatiion site.  There, I was asked for my email address and then I was asked two security questions.  One of the questions was for my shoe size.  I had never set up this security question before.  It finally gave me two questions that had been set up and I answered those and got to the next step.  It wanted my PW, which was rejected.  It does not accept the PW that you have on your existing account.  Yes, that is correct.  Somehow, this system expects you to have a PW even though you haven't set one up.  The CSR gave me a temporary PW and I got to the next page.  Next, they wanted me to choose and answer FIVE security questions.  I also had to select a new security image AND a new security phrase.  Keep in mind, this is just an application for a second account at a bank where I have had an existing account for years.  Once the new account is opened, I'll never have ANY reason to use the application process again.  They could not give me any valid reason why the secondary account application cannot be iniated through the login for my existing account.  It Is Just An Appication.

When I provided detailed examples as to why this is the most User Unfriendly Website - banking or otherwise - that I have ever used, the only response I got was, "I understand".

With no notification, they eliminated my existing online account because I had not logged on recently enough.  If I have no need to log on, why should I log on?  Rather than send me an email telling me that I needed to log on to keep from being dropped, they sent me a paper statement along with a FIFTEEN DOLLAR SERVICE CHARGE.  

For some reason, they will not send you a messgage through email.  They send you a notification.  Then you have to log on to your IB account to see the message.  Even if the message contains absolutely no sensitive information, you have to log onto their system just to read it.

I am speculating that lawyers have overruled any consideration towards common sense user friendliness in order to reduce their liability if your account is hacked.  Which suggests to me that if your account is hacked, this bank will do everything legally possible to avoid reimbursing your account.  

I expect banks to have rigorous security on their websites.  I am used to it.  What IB does is way beyond any measure of common sense or actual need.  If you suffer paranoia, this website may be exactly what you want.

Simply Incredible!
- IBCustomer - Friday, November 9, 2012 - 9:01 AM

Not often can you get an online experience that also allows for a real live person to help you when you need the personal touch.  Not only are rates competitive but service is unlike other online banking experiences either!

Rate Change
- cdthompso1 - Friday, March 4, 2011 - 6:47 AM

I have received notice that, as of March 4, 2011, Incredible's checking account rate will be lowered to 1.21% APY. 

REVISED: Incrediblebank Interest Rate Info
- 2Tall - Friday, August 20, 2010 - 9:58 PM

Online checking account rate will be adjusted to 1.42% APY as of August 20, 2010.

Checks Are Free To Send If You Do It With The Bill Pay Feature
- Quovatis - Monday, April 12, 2010 - 2:27 PM

Checks are free to send if you do it with the bill pay feature.  Just set it up to pay an individual or business and the check is sent to them in the mail for free.  The money doesn't come out of your account until they cash the check.

Great Interest Rate Bad Online Banking - But Worth It!
- Jeffrey_83 - Wednesday, May 8, 2013 - 7:31 PM

Yeah it's def a random bank with horrible online banking (obviously it's not Wells, BoA, Chase, etc).  But, you get what? 10x or 20x the interest rate on a check account than with the big guys.  It's a great place to park some cash if you are saving up for a short-term big purchase (ie house, car, etc.).