My Banking Direct

Unhelpful Website, Hidden Fees, Unprofessional Approach
- KiwiLass - Monday, March 12, 2012 - 1:30 PM

My experiences from opening a Money Market Account with MyBankingDirect.com so far:

Positives;

- High interest rate on MMA's

- Easy to open an account

Negatives;

- Login information for their website isn't sent until you request it, and not sent immediately on request

- Emails from customer service are written in Papyrus font and look unprofessional

- There's a $25 monthly fee to link to outside bank accounts which is not mentioned anywhere before you sign up

- There's a $30 closing fee

- Your account number and the bank's routing number aren't available on their website anywhere, and cannot be requested via email

- The website is difficult to navigate

 

I'd be very interested to hear other people's experiences, there doesn't seem to be much information around from other customers and I'm trying to decide if I should just weather the storm and stay with these guys.

Application Process Stinks
- Newguy - Tuesday, March 12, 2013 - 4:37 PM

You spend 20 + minutes entering information on the online application that looks like it was created by a third grade student and then are presented with electronic versions of information that should have been presented before you actually began (interest calculation used/fee structure etc.).After final review of info you provided your told to Print Submit Sign and Mail. Mailing them a signed copy of application defeats the whole online process in my mind. Canceling will end things, but no mention of what happens and how long all that data will hang around on the internet. Just returned to main page with not explaination.

Amtrust/Mybankingdirect Deleted My External Accounts
- katigurou - Monday, October 22, 2012 - 11:13 PM

The Amtrust website was never the most user friendly but at least I finally got external accounts set up and was able to transfer money between them. Now that both Amtrust and MyBankingDirect are in the header, and the website is mybankingdirect.com, I am less pleased.

Tonight I logged in to cancel a scheduled transfer. I found the scheduled transfer but there was no Edit or Delete button or option. Then I saw "External Transfer HQ" which is a fee-based transfer service. Apparently now Amtrust is charging even for DEPOSITS (excuse me--transfers in from an external account). I thought okay, I have to do this, because I need to cancel that transfer. I clicked to sign up, clicked that I agreed to whatever they were making me agree to in order to get to my own bank account (though when they have it, it isn't yours), and then I was told (even though I had been using the website continually for about 10 minutes) that I was logged out due to inactivity (I am supposed to be able to be inactive for 13 minutes and 59 seconds before that happens).

I logged back in and my external accounts and all record of my recurring transfer are gone. The transfer is scheduled to occur in three days and I have to assume that it will still occur, even though I cannot find it or cancel it. Yet it will take three (bank) working days to verify my external accounts and another three to transfer money back into them to replace the external transfer INto Amtrust that I am trying to cancel, and that is too late. If I could schedule the transfer tonight out of Amtrust to offset what will be coming in, that would work, but of course I have no external accounts.

I would call it a case of Catch 22, but it is more like, we have your money, and you are (I am) ****ed.

Would I recommend this bank? NO.