Comments For: 4.07% Reward Checking Account at Reliabank Dakota in South Dakota

Anonymous - #1, Wednesday, October 7, 2009 - 11:56 AM CT

Reliabank now has online account opening available. www.reliabank.com

Tuphat - #2, Friday, October 16, 2009 - 11:49 AM CT

I filled-out online application, and called few days later to check status. CSR was helpful, said that welcome sig cards were being mailed to me. HOWEVER, she also said that they weren't doing ACH transfers to fund accts, despite the application indicating otherwise. I told her I'd send in a check w/ my sig cards. I am not a local.

P.S. Wow, this is probably smallest bank I've ever done business with. Check out photos of their main office and branches.

http://www.reliabank.com/estelline.html

http://www.reliabank.com/hayti.html

http://www.reliabank.com/hazel.html

jackcrawfish - #3, Wednesday, December 9, 2009 - 9:58 AM CT

4 star ratings at Bauer and Bankrate.com

When I applied yesterday, they PULLED A HARD EQUIFAX CREDIT INQUIRY for my DW and I.

I also opened a joint checking account via email exchange with [NAME REMOVED]. There was no need for a new internet application submission to obtain the joint account.

I was also able to add POD to both of our individual accounts via email exchange.

jackcrawfish - #4, Wednesday, December 9, 2009 - 3:47 PM CT

I inquired regarding the hard inquiry. I said:

I'm confused as to why a hard credit inquiry was required to open these deposit accounts. Since we are not applying for overdraft protection/lines of credit, I am puzzled as to why an Equifax credit report was obtained.

Is there any way I/we can request these hard inquiries be removed? could they be updated at Equifax as soft credit inquiries rather than hard?

Please advise as you are able.

In response, they said:
Banks are required to comply with many regulations, including the Bank Secrecy Act which addresses the procedures to follow for customer identification. When we began to offer on line accounts, we did an assessment of the risks involved in on-line account opening. Since we cannot view identifying documents during the on-line account opening process as our Customer Identification Policy required, we decided to obtain credit reports for on-line applicants. We use the report as an additional tool to identify the applicant and safeguard against identity theft. I hope that our inquiry has not caused a problem for you. We will check into the possibility of updating this inquiry to reflect the nature of the request.

Henry - #5, Sunday, January 17, 2010 - 7:51 PM CT

At $153 M asset, it sure looks it.

Anonymous - #7, Tuesday, January 26, 2010 - 10:20 AM CT

They are no longer accepting online applications. =(

Just their 3 cd specials

Bill from DKK - #8, Thursday, February 25, 2010 - 7:24 AM CT

Reliabank Dakota's reward checking account (Ultimate Checking) is no longer available nationwide. In-state applicants only.

www.reliabank.com/checking.html