iGObanking.com®, a division of Flushing Savings Bank, FSB, is an online bank that allows you to manage your money simply and securely. We offer high-yielding savings, money market savings, checking and CD products that can be opened online, or by mail. Once your iGObanking® account is opened, you can automatically make deposits and withdrawals to and from your regular banking account.
What's Under The Rate?
Great rate at 4.45%, however the hula hoops are vast Although call center is there 24/7 the person I spoke to spoke broken english, pulled up the product on her screen to discuss unfortunately. Things to be aware of that deal break it for me: 5k/daily limit to transfer funds, call in ONLY for a one time exception, 250k/M. Beneficiary information can be set up after opening the account on line or through a secure message to through your online account. IGO Bank is the online platform for Flushing Bank est. 1929 NY. Supposedly first transfer into account takes up to 48 hours, once established again supposedly will take 24 hours. Dashboard only reflects interest at the end of the month not ongoing like the Emigrant online platrform provides.
Worst Bank Ever
At first I thought they were a good bank, so I opened up checking, savings, and CD's. When I needed to transfer money to pay for quarterly federal taxes, first I had to move it from savings into checking, and they denied moving the full amount. So I set it up to transfer smaller amounts on different days. Again, they denied transferring all the money from savings into checking. Next, I tried to start transferring money into the checking account I use at another bank to pay taxes, but they denied that too. I sent them a secure message when I was logged into my account explaining why I needed my money transferred to pay taxes. They never responded and instead locked me out of my own account and said it's fraud. Now I only have days left to pay taxes and they're holding up the process. Never trust this bank!
Experience Closing CD At Igobank
Had a CD and no other account at Igobank. Had no trouble receiving the matured funds at an outside bank via a ACH the Day after it matured. I sent all the information to them via an internal bank message. Also they have one of the best alert systems I have ever experienced at any bank.
Deplorable Customer Service
I had never encounter a problem in all the years I was with them that needed their costumer service until a few months ago with my debit card. When It was being decline with one vendor. I sent a message, they replied back with 'your card is still active, no blocks.' Any further problems, contact them at the listed phone number in the message! Fast forward to last week, Now I have nine vendors declining my card. They seem reluctant to help me or they don't know what to do. So I send another message to them saying since I have been paying my bills with another bank account, I am going to stop depositing with them until this is resolve.
I was disappointment when I received a message, no apologies for the inconvenience I am having, just they will offer to help to stop recurring transactions. No reassurance to fix the problems.
I am in the process of an account at another bank. After I am finish, I am going to transfer majority of my money without their help. I still undecided to close out my accounts,
Things To Know About Transfers
Consumer Account Transaction Limits Internal
Transfer Limits • Up to 10 transfer transactions per day (no more than 5 per account per day) not to exceed 50 per month. • Cannot exceed $10,000,000 per transfer, per day, per account not to exceed a total of $10,000,000 for the day. • Total transfer amount for the month may not exceed $10,000,000.
External Transfer Limits • Up to 10 transfer transactions per day not to exceed 20 per month. • Cannot exceed $5,000 per transfer, per day, per account not to exceed a total of $5,000 for the day. • Total transfer amount for the month cannot exceed $25,000.
External transfer transactions cannot bring account balance to $0.00.
Mobile Check Deposit • The current daily dollar limit is $2,500 per business day and the current monthly dollar limit is $25,000 per any 22 consecutive business day period. For accounts with a balance of $50,000 or greater, the current daily dollar limit is $10,000 per business day and the current monthly dollar limit is $75,000 per any 22 consecutive business day period. There is no daily or monthly statement cycle limit on the number of items, as long as the respective dollar limits are not exceeded.
Zelle® • Initial send limits are set at $1,500 daily with a maximum transaction limit of $1,500 per calendar day. Limits may be automatically adjusted from time to time at our sole discretion based on the user activity and account standing.
ATM/Debit Card • ATM Card: The current daily withdrawal limit is $1,000. • Debit Card: The current daily withdrawal limit is $1,000 and the daily purchase limit is $1,500.
I Think I'll Pass
I applied for a 3 month CD with this bank. I completed the funding and hours later I get 2 identical emails requesting that I verify my email. I verified then I was asked to supply my account number. I was never given an account number during my application. I called their so -called solutions center and encountered the most dumbed down people I have ever spoken with. After getting nowhere with this clown show I see no money waa taken out of my checking account. Im not out anything.
Interest rates are steadily rising with the field of high performers broadening. I'm confident I can do better somewhere else.
It Looks Like They Have Very Wrong Banking Habits.
I've easily opened and funded an iGOmoneymarket account @ 4.45% APY, but, upon getting funds, they blocked my access to the account and were not able to give any explanations when I called them regarding this.
Very Shady Practices IMHO
They will likely place a block on your savings account once you decide to move money to get a better rate at another institution. If you don't mind putting money somewhere with the idea that you will never be able to access it when you need it, then this might be a good option. This is the only bank I have ever seen where random people will call you from random numbers and ask you for personal information. Every other institution I have seen says you should NEVER respond to calls asking for personal information. This bank also operates the giftsforbanking promotion you may have seen.
Data as of Q4 2024
Health Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 58564 |
| Year Established | 2007 |
| Employees | 571 |
| Primary Regulator | FDIC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | -0.2% |
| Return on Equity - YTD | -2.2% |
| Annual Interest Income | $471.7MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q4 2024vs Q4 2023 | $9.05B$8.54B |
| Loans | Q4 2024vs Q4 2023 | $6.78B$6.87B |
| Deposits | Q4 2024vs Q4 2023 | $7.26B$6.91B |
| Equity Capital | Q4 2024vs Q4 2023 | $883.4MM$799.3MM |
| Loan Loss Allowance | Q4 2024vs Q4 2023 | $40.2MM$40.2MM |
| Unbacked Noncurrent Loans | Q4 2024vs Q4 2023 | $30.9MM$22.6MM |
| Real Estate Owned | Q4 2024vs Q4 2023 | $0$0 |