Worse Operations And By Far Worse Customer Service

It took several weeks to set up account which everyone already spoke about. I was not notified when rates dropped by nearly 1%. Then I moved and called in to change my address. Several weeks later I needed to get $300 out of ATM and was denied (This account had roughly $50k at the time of denial). Well I called the bank and was told if I dont send a written notice, I can't get money out of the ATM. I was stranded at DMV and tried to explain but it fell on deaf ears. Instantly I told the CSSR that I need the account closed and she passed me over to another person who basically calls my bluff and says she can't close it without a written letter. She did not even try to understand the issue at hand. Anyhow,  the following day, I transfered all the money into my Fidelity online brokerage account proving that I can get my money out and when the bank gets tired of the account being dormant it will close it down.

I'm a finance analyst with one of the biggest 4 banks in the country and know that core deposits are the most important source of lending $ in any bank. Contrary to popular beliefs the bank wants the small peoples money  since a) the high volume usually outweighs the rich peoples CD's or high balance b) Core deposits presents low risk compared to high deposits.

I dont mean to lecture but the point is that the bank has idiots running its operations expecially the customer service reps. They probaly think what harm can 50K do but multiply that by thousands and you get the idea. Deposits fund loans, loan fund interest income finito.