Deposits held and insured by MidFirst Bank

Overview / Commentary
501 NW Grand Boulevard
Oklahoma City, OK 73118
Deposits held and insured by MidFirst Bank
Reviews (7)

I Guess I Got Lucky

Posted by: |

Within a week of opening and funding, I received bonuses totaling $275, which was more than I was expecting. I'm now inclined to close the account, though I'd hate to miss out on additional promos. I did find the app a bit glitchy, and it was initially impossible to see my transaction history.

I Should Have Researched Further…

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I opened my account on October 30th and made deposits between the 30th and the 9th.on the 11 th I was locked out of my account. I then received an email on the 11th stating my accounts would be closed on the 24th and my account access would be revoked on the 17th. My account access was revoked on the 9th according to the customer service department for “business reasons “ that reason also contradicted the “missing documents “ reason I was given in the email. I now have 1040.00$ they will not allow me to access. But they approved a transfer of 500$ to that account on the 12th.each time I called I was given a different date for return of the deposits and I checked my chexsystem report;no negative remarks were listed by any other bank.

Horrible Bank - Avoid

Posted by: |

In >50 years, I have never bounced a check nor had a negative account value with any bank. I have banked with Midfirst for over three years since I moved to Oklahoma and never had any problems with them. I have over $700,000 on deposit with them! But they refuse to open a Monifi account for me because I do not meet "industry standards" decided by Chex Systems. I looked at my Chex Systems report. There is nothing negative at all on this report, but three enquiries from Midfirst Bank. I pointed this out to Midfirst, but they just repeat incessantly that I do not meet "industry standards", not even looking at the report nor my banking records with them. Who gave Chex Systems so much power? Whoever these guys are need to be regulated. Anyway, avoid Midfirst unless you wanted to be treated impersonally by idiots who don't appreciate your loyalty.

Don't Waste Your Time With Monifi

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I opened a checking and savings account with Monifi on 6/15/21. My log-in failed the next day so I called them. I was informed that they closed my account, and they refused to tell me why. I wouldn't recommend them.

Closed Account After Approving It And Flagged It As Fraud

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Within few weeks of approving Monifi account and after receiving direct deposits from my employer, they closed my bank account without my notice and flagged me in ChexSystems as FRAUD without any basis or even communicating with me about any issues. Now I am no longer eligible to open new bank accounts. A shady bank and third-world business practices. Screwed me as a new customer big time!

Absolutely Appalling Experience — Avoid Or Risk Losing Your Money

Posted by: |

On May 20th, 2021, I opened two accounts (checking & savings) with Monifi.

I understand the value of money, so after reflecting on the few, very basic benefits provided by my existing (local) bank, I found myself seeking an alternative bank that could offer more services.

I wanted a bank that was more “with the times”, user-friendly, and accessible. I tend to handle my finances on an ad hoc basis, so the features advertised by Monifi seemed like a great fit.

To add to this, I happened to have 3 checks to deposit at the time, and took note that Monifi sold itself as a convenient, online way in which to take care of those, too.

All of this was a very, very big mistake.

After opening my accounts, I read the T&Cs once more and confirmed that check deposits would be an acceptable means to fund my new checking account for the first time.

For context, I should mention that each check came from a conventional, legitimate source (a payroll check, an official check from my other bank, and a settlement check from an insurance company).

Shortly after I deposited the checks, I received email notifications that each was approved, but my pending account balance did not reflect the deposits I had made. That remained at $0.00.

On the evening of May 20th, I received a message to explain that a hold had been placed on the funds related to one of the deposits (the check from the other bank) while Monifi processed it. Fair enough, I thought, and decided to check back in a couple of days.

On May 22nd, 2021, while attempting to check the progress of my deposits and explore the features on the app, I found myself unable to log into my account. After a couple of attempts, the app displayed a message stating that my account did not exist.

Upon calling Monifi’s support team, I was given a laundry list of explanations for this, ranging from a “glitch”, to a representative’s denial of my accounts’ existence at all, to the more truthful answer, being that my account had been closed for “business reasons”.

Of course, I escalated my complaint about this immediately, but it was pointless. Staff hung up on me, refused to disclose the whereabouts of my money, and repeatedly supplied me with false & misleading information.

No amount of effort led me to an answer. However, I had the advantage of working in corporate litigation for many years, so pulled out all the stops to force it out of them.

After filing complaints with the Federal Reserve, BBB and CFPB, alongside my state’s department of banking and finance and our attorney general’s consumer protection division, I began sending duplicate complaint emails to Monifi until they responded.

Two days ago (June 10th), someone named Priscilla called to inform me that a check for the full balance was in the mail, but remained steadfast in her refusal to discuss the situation any further.

The check arrived today, with a letter attached. The letter read:

“ | FRAUD”.

Please, please, please look at the reviews online for this bank — they are not good.

If Monifi does this to you, get a copy of your ChexSystems report; you’ll need it, because Monifi will ensure that you have no chance of getting another conventional bank account afterwards. You’ll need to dispute their entry on the report.

Stay away from this atrocious business.

Do NOT Bank Here

Posted by: |

Made an account on April 28, 2021. Transferred the bulk of my account over because my bank was closing. That Friday my account was apparently closed. Never got a notification or anything about my account status. On Tuesday May 1, 2021 I tried logging into my account and was unable to get into it. Kept telling me that my credentials were incorrect. I called and was told that my account was closed for "business reasons". A check was sent out the Friday before on April 30, 2021. I was told it takes 5-7 days to get and the person I talked to said it would arrive on Wednesday at the earliest and Friday the latest. Well it is Saturday May 8, 2021 and I still haven't gotten the check. I called and after the girl put me on hold multiple times to figure out what is going on she informed me that my account was closed for fraud reasons and under investigation. My account would officially be closed on May 14, 2021 after whatever they're doing is finished and afterwards a check would be sent to me. That leaves them having nearly all my money with no way of me getting any of it back until they decide to send it to me. I have no one to talk to about this because the representative says it's out of her control and there's no way of contacting the fraud department to sort this issue.

I strongly recommend not making an account here and going somewhere else. Their service is less than helpful. If there was something suspicious about my account I should of been contacted about it. Not keep my money from me for over a month


Data as of Q1 2023

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

Health Grade Components

FDIC Certificate #4063
Year Established1911
Primary RegulatorOCC
Profit Margin
Return on Assets - YTD1.44%
Return on Equity - YTD14.27%
Annual Interest Income$407.8MM
Assets and Liabilities
AssetsQ1 2023vs Q1 2022$37.24B$32.23B
LoansQ1 2023vs Q1 2022$30.41B$26.50B
DepositsQ1 2023vs Q1 2022$20.10B$19.04B
Equity CapitalQ1 2023vs Q1 2022$3.55B$3.24B
Loan Loss AllowanceQ1 2023vs Q1 2022$186.4MM$174.9MM
Unbacked Noncurrent LoansQ1 2023vs Q1 2022$35.4MM$34.5MM
Real Estate OwnedQ1 2023vs Q1 2022$7.8MM$11.2MM

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Monifi is an Internet only bank and does not have branch locations. Its headquarters is located at 501 NW Grand Boulevard - Oklahoma City, OK 73118

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