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 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
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!
I just opened a new money market account for $1.00 and was going to transfer in some money from my other bank account but got the following message:
"Regretfully, we are temporarily discontinuing our Bank-to-Bank Transfer service from our current provider. We apologize for any inconvenience this may cause you. We will notify you when our new provider is in place." They go on to say that you should use the "Bill Pay" feature to transfer money in or out, or use a check.
Needless to say, that's quite a shock for an online bank not to have a working online system for transferring money between banks.
I tried opening an online account and they did a $1.00 test withdrawal from my other bank account. I decided to close my new Americanet account even before I used it. They are very unprofessional.
They kept my dollar!
Is that how they make money?
I opened an account with them online, verified the security transactions, but never received an account number. What kind of service is that???
Be aware of the charges they debit without notifying you. Unhelpful customer service. Terrible online interface. No bank to bank transfer!
I have the interest checking account and have had no problems. As long as you adhere to the guidelines there should be no problems.