Deposits held and insured by Flushing Bank

Overview / Commentary
144-51 Northern Boulevard
Flushing, NY 11354
Deposits held and insured by Flushing Bank

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.

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Experience Closing CD At Igobank

Posted by: |

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

Posted by: |

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,

Wonder What The I Stands For...

Posted by: |

The i can't stand for internet, when I asked about an electronic funds transfer at maturity, this is the reply I received. That is absurd, will not be using iGObanking in the future.

"Thank you for your recent message and we are sorry that you have decided to close out your account. We can certainly assist with your CD close out but we do not have the ability to transfer CD funds electronically. We do have the ability to mail a cashiers check upon maturity to your address of record. If you would like to proceed with the account closeout upon maturity and wish to have a check mailed for the balance please reply to this message with instructions. Thank you."

Stay Away From This Bank, Almost Impossible To Get Your Money Out

Use this bank at your own risk! I had a CD mature with IgoBanking for $200G. I also have a IGo Banking Money market account & a Savings Purely (by Bank Purely, same bank with different name) Money Market. When the CD matured, I did an internal transfer to my Bank Purely Money Market to attempt to transfer out the funds for other uses. When trying to transfer the funds out, they have a $15G limit per day, & $25G limit per month to transfer funds to your linked external account. So it would take me 8 months to get my money out for my CD funds while earning the poor rate of 1.3%. Luckily I also had the IGo Banking MMA linked to the same account (only paying 1.1% since I am not a new customer). That account has a $15G limit per day with a $50G monthly transfer limit. So I thought no problem, between the two accounts I will get my money out in about 3 months. I proceeded to do this for several months trying to get my money out.

When doing an ACH transfer, it takes 7-9 days for the ACH transfer to actually go through, pathetic compared to other online banks I use. It is hard to keep track of transfers when it take 9 days to arrive in your external account. Then they send me an email saying I exceeded my 6 transfers per month ,I really did not since the actual transfer dates were much later than initiated. Now they say they will be closing my account and my funds are locked, they said they will send out a check on 8-30-18 (1.5 months from now). Their advertised 2% IGo Banking Money market rate is only for new customers, mine has been at 1.1% since opening it, another poor practice.

Since I still have another CD yet to mature, now I will have no way to transfer funds out when that CD matures, if you do not transfer the funds in 10 days your funds revert to a new CD with the same length terms at .05% This is just one of the pains with this bank. Below is a list of several of the bad consumer practices of this bank compared to other online banks. Unless you are really desperate to receive their rates, I would avoid this bank at all costs. They try their very hardest to screw you at every turn.
I opened an IGO Banking money market when it was at 1.1%. Now the same money market rate is 2%, but it is for new customers only & my rate was still at 1.1%.
Takes 7-9 days for an ACH transfer to show up into your linked account, triple the time of most other popular online MMA accounts.
Bank Purely Money market only allows $15G per transaction, $25G per month out. Rate still at 1.3%
IGO Banking MMA only allows $15G per transfer daily out, $50G per month total
If you accidentally exceed your transfer limits, they close your account & lock up your funds for 2 months (they don't just allow them not to go through or give you a count like Amex MMA does)

Just a few of my problems with the deceptive practices of this bank. I have at least a dozen online MMA accounts & online CD's, no one operates with the restrictive & deceptive practices of IGO Banking/Bank Purely in my experience, except maybe Popular Direct. With so many great rates and consumer friendly online accounts out there, I would stay away from this bank unless you are putting in under $25G. For now I am stuck with them until my last CD matures next year, then I will be saying goodbye to this bank forever and having to quickly do a costly wire transfer to wrestle my remaining funds away from them.



Data as of Q4 2021

Data displayed below is for insuring bank: Flushing Bank
Learn why bank health matters

Health Grade Components

FDIC Certificate #58564
Year Established2007
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD1.21%
Return on Equity - YTD12.53%
Annual Interest Income$293.9MM
Assets and Liabilities
AssetsQ4 2021vs Q4 2020$8.05B$7.98B
LoansQ4 2021vs Q4 2020$6.60B$6.66B
DepositsQ4 2021vs Q4 2020$6.40B$6.16B
Equity CapitalQ4 2021vs Q4 2020$843.9MM$726.8MM
Loan Loss AllowanceQ4 2021vs Q4 2020$37.1MM$45.2MM
Unbacked Noncurrent LoansQ4 2021vs Q4 2020$14.3MM$22.9MM
Real Estate OwnedQ4 2021vs Q4 2020$0$0
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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

iGObanking Savings Account Rates

0.50%*-$5kiGOsavings Plus
OTHER TIERS: 0.25% $5k+
0.50%-$25kiGOsavings Plus w/Bonus

iGObanking Money Market Rates

0.50%$25k$500kiGOmoneymarket - New Money Only

iGObanking CD Rates

1.10%$1k-18 Month iGOCD
0.55%$1k-12 Month iGOCD
0.45%$1k-6 Month iGOCD
0.40%$25k$250kGiftsforBanking 5 Year CD
0.35%$25k$250kGiftsforBanking 3 Year CD
0.30%$25k$250kGiftsforBanking 2 Year CD

iGObanking is an Internet only bank and does not have branch locations. Its headquarters is located at 144-51 Northern Boulevard - Flushing, NY 11354

The financial institution, product, and APY (Annual Percentage Yield) data displayed on this website is gathered from various sources and may not reflect all of the offers available in your region. Although we strive to provide the most accurate data possible, we cannot guarantee its accuracy. The content displayed is for general information purposes only; always verify account details and availability with the financial institution before opening an account. Contact [email protected] to report inaccurate info or to request offers be included in this website. We are not affiliated with the financial institutions included in this website.