LR is a typical internet bank. All banks are very sensitive to "suspicious activity" now. Chase restricted my accounts three times to block so called "unknown transfers" to myself at LR.
The only bank I am writing a review for. I opened a savings account, with a lot of money in it. They froze my account, cut my access to my funds for months, asked me for a lot of documents, not giving me any good reason, other than telling me to wait until their concerns are met. It turned out to be their mistake. They are still not returning my funds. They are a mess and very irresponsible and a bully when I ask them to return my funds, telling me I might have to wait for years. You have to sue them in the court to get your funds back, otherwise they will just shrug their shoulders and bully you.
i can't believe i got scammed into this.... I was watching George Kamel (he works for Dave Ramsey) who happens to endorse and promote Laurel Road. I love them so i trusted what they promote. Opened an account and transfered $23k of my savings. my account got locked after I have made the transfer. i called everyday to check on them and see what is the issue. It's been 10 days now. nothing. your case is pending and under review, just have to wait they say. and now i'm learning all the horror stories of this fraud bank! I have 2 other high yeld savings banks (Cit Bank and Webster Bank) and non have issues like this. Stay away from this fraudulent shady business!!!!
I created a checking account at Laurel Road and deposited more than $2700 in the account. When I attempted to withdraw the money, the bank locked the account without notice.
I called customer support and explained to them what happened. They told me the account was "under review", threw a metric ton of "Unfortunately,"s at me, and then told me that my account would be locked for a duration of the bank's discretion.
This bank is illegitimate, malicious and maximally rapacious. Avoid them like you would a diseased close talker
Overall | |
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FDIC Certificate # | 17534 |
Year Established | 1849 |
Employees | 17523 |
Primary Regulator | OCC |
Profit Margin | |
---|---|
Return on Assets - YTD | 0.67% |
Return on Equity - YTD | 8.42% |
Annual Interest Income | $4.08B |
Assets and Liabilities | ||
---|---|---|
Assets | Q2 2024vs Q2 2023 | $185B$192.8B |
Loans | Q2 2024vs Q2 2023 | $106.3B$119B |
Deposits | Q2 2024vs Q2 2023 | $149.3B$148.2B |
Equity Capital | Q2 2024vs Q2 2023 | $15.05B$13.75B |
Loan Loss Allowance | Q2 2024vs Q2 2023 | $1.56B$1.5B |
Unbacked Noncurrent Loans | Q2 2024vs Q2 2023 | $855.1MM$530.4MM |
Real Estate Owned | Q2 2024vs Q2 2023 | $23MM$22.7MM |
Always verify rates and promotions with the bank or credit union. We are not Laurel Road, A Brand of KeyBank N.A.; we are a rate comparison website and cannot provide official rates or promotions.
* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.
APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS | |
---|---|---|---|---|---|
5.00%* | $5k* | - | Laurel Road High Yield Savings Account | ||
OTHER TIERS: 4.80% → $0 - $5k |
APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
---|---|---|---|---|
0.01% | $0 | - | Laurel Road Checking Account |
Laurel Road, A Brand of KeyBank N.A. is an Internet only bank and does not have branch locations. Its headquarters is located at 855 Main St - Bridgeport, CT 06604