Bank Of The Sierra

Thankfully, I've only had good experiences with this bank so far. (Knock on wood, after reading some of the other reviews.)  When I've called, a CSR usually answers directly (w/o navigating a phone system). They've all been pleasant and helpful.

I obtained a Rewards Ckg a year ago and just found out about Rewards Savings (2% if Rewards Ckg qualifications are met, since they're linked.)  When I called about applying online again, I learned it's not necessary.  Just log in to my account, hit "Services" on the left menu, then "Bank Mail" on its drop-down, then the "New" button (bottom right under mail box.) 

I wrote requesting Rewards Savings, and it was executed a few hours later.  Same day. I just need to fund it with "new money" (external source via ach or check mailed, etc.)  They're mailing the info packet, but I can fund anytime.

After reading some of others' difficulty with this bank, maybe my initial app went more smoothly because I live in-state?  Maybe the bank had a tougher time processing out-of-state apps? (Moot now that they're no longer accepting out-of-state.)  My qualifying record isn't perfect, but the mistake was ultimately a misunderstanding on my end.  Chalk it up to learning curve on both sides, since this was my first rewards checking.  All in all, I'm pleased so far.

Btw or fyi - for those not familiar with CA, this bank is located in Central CA, which is rural/suburban. Very community oriented v. large urban or major market institutions. It's not L.A. or S.F., even tho' many community-based banks within those big cities can be basic in how they operate.

With everyone chasing rates, it seems the sudden national demand overwhelmed many of these community banks, who weren't yet that experienced, both personally and technically, in handling the range of situations and attitudes in such volume.  I've noticed evolving differences between banks that are local, national, national-turned-local, and local-turned-national. Then again, the economy these last few years put all of us on a learning curve.

Which is why I've appreciated all the info and insight from BG/DA, since it's facilitated for me, anyway, dealing more effectively with various banks.  My patience seems tied to my expectations.

Thanks BG!











 

HUGELY disappointed in the rate drop to 2.09% the beginning of December.

BUT now they can do external online transfers!

In response to client requests (likely heightened by the rate drop), they mailed authorization forms for external transfers to external accounts, which the client must own.  Until they streamline the process, they require you to fax the authorization form, so they can at least set up. But you must also mail the hard copy thereafter for it to stay in effect. 

I suggest calling them to fill out the form properly, since it's confusing - you have to submit two forms if you want to authorize two-way transactions. It's not clear that you must circle debit above and credit below (wherever you see "credit/debit"), then vice versa on another form. 

You must also fax them proof of your ownership of the external account (bank statement or voided check).

However, once set up, it's very simple - you Bank Mail the request from your logged in account (Bank Mail is in the "Services" link at the left).  They said it would transact by next day, if you make the request by 3p PT.  I was skeptical, but lo and behold it arrived in my other account the next day.

$500 minimum transfer.  Maximum is your account balance.