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Problems Funding Account

Posted by: kingpain | Jun 10, 2016

I don't usually review but I did have a strange experience with opening up an on-line money market account.

I opened it on-line and the next day linked it online to an account at another bank so I could fund this new account. It then took three business days before the trial test amounts appeared in the EBSB account so that I could link them. Once they appeared, I transferred the funds to the EBSB account. Five days later the funds came back. I called my bank and they said the EBSB account had been closed.

I called EBSB and it said that I hadn't funded my account quickly enough. I told it that I couldn't see how it was possible to fund it any more quickly than I had online.

Over the years I've had online accounts at several different banks and can't recall ever having this problem with another one.


Health Grade Components

FDIC Certificate #33510
Year Established1991
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD0.82%
Return on Equity - YTD7.72%
Annual Interest Income$41.9MM
Assets and Liabilities
AssetsQ1 2017vs Q1 2016$4.55B$3.61B
LoansQ1 2017vs Q1 2016$4.02B$3.21B
DepositsQ1 2017vs Q1 2016$3.69B$2.92B
Equity CapitalQ1 2017vs Q1 2016$478.4MM$433.7MM
Loan Loss AllowanceQ1 2017vs Q1 2016$41.8MM$34.4MM
Unbacked Noncurrent LoansQ1 2017vs Q1 2016$12.8MM$30.0MM
Real Estate OwnedQ1 2017vs Q1 2016$0$638.00K
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EBSB Direct Savings Account Rates

0.88%$5k-High Yield Savings Account

EBSB Direct is an Internet only bank and does not have branch locations. Its headquarters is located at 10 Meridian Street - Boston, MA 02128