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Friday, April 29, 2011 - 3:25 AM

Absolute Checking - Watch Out For Technical Requirements To Earn High Interest Rate

ViewPoint Bank (2 stars)
I opened an absolute checking account in Sept. 2010 to take advantage of the high interest rate.  I thought I followed all directions given for establishing auto-pay.  Much to my surprise, I was told that the auto-pay I established did not qualify.  Then, once this problem was taken care of, the bank refused to give credit the first month I qualified, claiming they can change the terms.  I was very upset.  One bank manager was non-responsive and uncaring.  One, who I believe was higher up on the management chain, was compassionate and tried to no avail, to convince the bank to change its decision and give the credit the month it was earned.  Just be aware of all the technical requirements the bank sets. I am hoping that the situation is solved.  We'll see with my April statement.  I learned a hard lesson.  I am hoping you won't have to.
5
disappointeddisappointed1 posts since
Apr 29, 2011
Rep Points: 5
1. Friday, April 29, 2011 - 6:14 AM
Thanks for sharing your experience with ViewPoint's Absolute Checking. How was the auto-pay established? Was it set up outside of ViewPoint as a monthly debit of your Absolute Checking?

Most reward checking accounts will count any ACH payments or deposits toward the direct deposit requirement. However, ViewPoint has a history of being difficult. I described one reader's experience in this ViewPoint gotcha post.
1
KenBDGKenBDG4,048 posts since
Nov 29, 2009
Rep Points: 106,905
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