| 5 star: | (5) | |
| 4 star: | (1) | |
| 3 star: | (4) | |
| 2 star: | (1) | |
| 1 star: | (10) |
I have liked Customer's Bank PRIOR to their involvement with "MAX MY SAVINGS".
I am actually hoping they might allow me to change my existing account to their high (5.3APY) account without the third party involvement of MAX MY INTEREST... some time in the future maybe.
But my inquiry here is whether anyone has entirely read, and UNDERSTANDS, the plethora of documentation, agreements and terms that MMI requires.
I know one respected party on here has not had any evident issue,...
But I just read the entire Federal Complaint filed against another third party service named "MX TECHNOLOGYS" and now I'm even more so apprehensive and skeptical of any third party involvement and specifically MAX MY INTEREST.
The complaint is "scary". I believe this will provide it if you're interested.
https://pdfserver.amlaw.com/legalradar/48675699_complaint.pdf.
Basic question:
ANYONE REALLY CONFIDENT IN "MAX MY INTEREST" involvement.
Thanks in advance for any knowledge or opinion.
(PS...Had to rate Customers so gave them a neutral due to their involvement with MMI. Prior to their involvement with MMI , and having to change my account over to their high interest account, I rated them 5 star...*****)
I don't use them for savings, but as a checking account they are the best of the best.. has never let me down. Honestly would've been screwed in many situations if I hadn't had an account here.
Their "rates" are absolutely predatory and their customer service is bottom of the barrel. If anything, save yourself the hassle and and go elsewhere.
Talk to your banker for details about your specific savings account.
It appears Trust Accounts are allowed at this bank.
https://www.customersbank.com/consumer-disclosures/
I would give them high 5 stars at least for their CSR people.
I have their former account that pays approx 4% and I did pull mid6 from them for a much better rate... BUT I called today and immediately got a professional and friendly CSR (ANNA) that just told me the TRUTH... I appreciate that.
Yes, they have at this time suspended their 5+% account.. while management assesses the current banking situation. QUITE FRANKLY, I don't blame them... and that is fair and honest and probably darn prudent.
They are not putting out a "leader" that they may have to back out of later.
However, I do not understand why any FI would use exclusively that "MAX MY INTEREST" program. I went on it and after putting in my preliminary information , I got a page with numerous contracts to read and a "continue button" that required I agree to their charges I walked away immediately with all that KRAP.
Anybody have any idea why FI would use "MAX MY INTEREST" exclusively (only method to establish an account).?????????????????
Based on advise from Midas89, I initiated this account on the Max site and as soon as it was up and running on the Customers site I deleted by linked checking account on the Max site. So there can be no "optimization" and I will therefore not be charged a fee.
Customer Service for Customs Bank told me that I could even terminate my account on the Max site and still get the 5.05% APY as long as I initiated the account from the Max site. But as long as they can't charge me a fee as there is no longer a linked checking account in my Max account, I'll leave it up and running to play it safe.
Sends you some 3rd party app sounds like Raisin or savebetter generic version?
Yes! Max is not a bank and never takes custody of your funds. Max simply helps you earn more interest on the cash in your existing bank accounts and any additional accounts that you may choose to open.
Can't open an account without a cell phone tracking device? Sorry I don't microwave my brains for cash.. Keep your higher rate.
Rep: "The upper management has taken the button of the website to open an account. We don't know when it will be fixed."
Rep: "No we don't have a way to open an account over the phone."
So they have an advertised rate, but can't handle more accounts right now, but don't note that on the website.
Opened High-Yield Digital Savings when they advertised 4.05% APY on their website. Deposited money in the same day. since I had other accounts opened. Consumer Disclosures showed The annual percentage yield (APY) is 4.05%.
Received a statement on 12/15 with 3.17% APY interest instead.of 4.05% APY. Please check your statements. The details showed 3.98% Interest rate during the month.
Update 12/28/22: They credited me missing interest today after multiple calls to the bank and messaging to them through their website. Customer service had no understanding and keep telling everything is correct. You have to request a Customer Service rep to connect you with a banking team to have have any resolution! I have replaced Bait and switch header as result.
Total waste of time. What a fraud.
Wasted over an hour already trying to set up my online access. I think I just lost my 100 dollars I authorized them to take to set up the account. Now I have no access to cancel this and there is no stateside customer service.
There is much more. I will update this when I have calmed down..
Update Dec 21, 2022 - I didn't think this posted, so I tried posting another review. Personally, I like talking to women from Asia; but I just don't want to 'have' to do it regarding my banking. Not sure someone would try to imply there is any preconceived bias here regarding foreigners. Seems a bit presumptuous.
Could not get a hold of any help stateside & the out of country help wasn't able to do all the things I needed done. In the end, CB emailed me and said the account was closed & the initial dep would not go through. Well it did.. My credit union was able to get the money back after I showed them the email stating the account was closed.
As an aside, I found several numbers stateside for CB & none of them work.. Very off putting.
Garbage bank. Opened a checking and got the account number instead of doing the slow funding method. Then a a day after I created a login they locked my account for no reason. There cs team will send u to the fraud department in which u have to leave a voicemail and they will call u in 3 days. Its been like this for the past month as “they’ve been backed up on requests” when really there too lazy to get a good fraud team. Stay away
Because of this lawsuit - https://www.bankingdive.com/news/customers-bank-kservicing-58m-ppp-dispute-kabbage-amex/635468/ - I am guessing this bank is way short of funds due to which they have raised the rate to 4.05% APY, which I suspect will drop soon.
Application process was straight forward. ACH limits...Deposits 5k per day, 30k per month. These limits are greatly expanded after 30 days of account opening. The limits then increase to 250k per day and one million per month. Customer service was good, the 2 times I contacted them. There are no limits to the amount of external accounts you can link. There are NO monthly or closing fees associated with this account.
UPDATE: Effective immediately, ALL transfers will be SUSPENDED for 30 days from account opening.
I have been a long standing Health Saving Account client of Optum Bank after the account transfer from Wells Fargo(they quit doing them). I wanted to increase the number of investment choices so I decided to transfer my funds to a discount broker.
I set up the new HSA account and they tried to pull in my funds. I was told that Optum can not do in-kind transfers. When I looked at Optum's Investment tabs on their website I did not see the possibility of selling the mutual funds for cash. There was only the possibility to transfer them into Money market securities. I figured that a Money Market security also would be a in-kind transfer.
I called up the Wellsfargo past client number. The customer service staff walked me through which screen to go to for a link to hit that said "liquidate investments." That's where the problem occurred because the software had a option to invest the cash into preselected investments choices once it cash level gets over `$2020. The customer service rep did not tell me to turn that feature off in their software. Or more importantly the software is not smart enough not to turn that feature off if you "liquidate investments". SO, the day after I called my investments were sold(October 12, 2022). On October 13th, the Mutual fund auto investment Purchase was done. Once again I had my new brokerage house pull the cash from Optum. On October 14th I received a email telling me once again that they can not do in-kind transfers. REALLY!!
So I go back into their website and sure enough mutual funds were reinvested. I remembered where I had to go on the Website to "liquidate investments" and I knew that I had to find where I should turn off the Auto Investment Purchase option. So, I turned it off. Unfortunately, the market dropped during the few days and their incompetence costs me $2,263.
I have been on the phone numerous times and no one calls me back with a solution and a refund of my money so I can get my cash out to reinvest into the market.
I recently received information from Optum that my complaint can not be acted upon. They said when you activate the "liquidation Assets" button that there is a Bubble Warning to turn off the HSA autoinvest feature. Well I did the liquidation twice, once with a Customer Service helping me on their website and the second time by myself. I never saw or heard from the Customer Service rep any Warning bubble. I feel it is likely a recent feature to the Website(i.e. after my experience).
I can not recommend using Optum for any type of account. It is obvious that their Website has bugs and their Customer Service Representatives unknowledgeable of their software. Worse yet, they don't document the phone calls received, they don't act on questions asked or information requested(I asked for my audios of my phone calls into to them). What about the Freedom of Information Act??
Cheers to Customers for being near the top
of the pack!