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2 Days of not being able to reach anyone. If I call it d just hangs up. I want to cancel my cd. Seems sketchy.
www.myebanc.com is the online bank for US RESIDENTS of the https://bradescobank.com/en/ and is FDIC insured under the bradescobank. Both pages are linked together that is a good thing. If you go to their myebanc page directly, then you should use the full address with www, as it looks like that they have some issues with redirecting pages. As of Q1 2024, myebanc has a deposit account ratings of A+. It has a solid balance sheet, not only their Texas Ratio is low as 1.18% but also if you include “delinquencies” blow 90 days it gives them a Texas Ratio of 3.12%, that is very good. Additionally their Commercial Real Estate Exposure to their total equity capital and allowance for loan and lease losses is about 41%. Any bank with a CRE exposure above 300% is considered risky. Additional reports can be generated from fdic.gov page. Additionally to these good ratings myebanc has relatively high CD rates. At the time I opened a 6 month cd it was 5.51% APY. They call their CDs TIME DEPOSIT that is FDIC insured. However, they pay the interest at maturity for all their CD products no mater of terms.
Their opening account is not 100% online. It starts with applying online that includes applying for the product you want, and fill a questionary that requires more information than usually is required. It also asked for how the interest should be compounded and payed, I found that odd as interest is compounded daily and can be paid at the maturity, anyway I chose compound daily and as how to pay the interest I chose compound that I believe it means the cd will be extended at maturity date. However, before the maturity or during grace period you can request to pay your interest and principle at maturity. Once your application is “temporarily” approved you can only check your application status but not create a real account. In second step you need to download, sign and upload a document signature that include also your cd account number. You also need to verify your ACH deposit if you chose to use ACH. You supposedly, after couple days, should get a welcome email instruction on how to create the actual CD account that involves clicking on first login option provide your email and etc… I believe they will not permanently approve you application and send you the welcome email until the funds are withdrawn from your original bank. I believe they use some sort of intermediary account to withdraw the funds via ach, at least that is what I saw in my original bank transaction. As I saw the funds are withdrawn I called my both banks for clarification and I asked myebanc to send my welcome emails so that I can create my actual myebanc account, that they did within 10 minutes. All together it took me 4 business days to complete a successful application. They are very responsive via email or phone within their Eastern office time.
I opened 6 months 5.77% APY CD today. The process took about 20 minutes.
They did ask for the following questions, including:
* where did you get the funding money from (job, investments, inheritance, etc).
*your current address and past addresses
*what is your job is and what career field you are under
*social security, date of birth, full legal name, driver's license
*and so much more !
They also connect your bank to their bank prior to any account approval. Then after all that, after divulging all my information, I was advised that the application will be under consideration. Of course I was upset and acted immediately to remove money from my own bank (the bank that I connected to this bank) less they suck it three weeks later (who knows).
I read the complaints in the BBB website, where people have had difficulty getting their money back after the CD matured. To have good sleeps at night, I decided not to continue and called my current bank to block Myebanc from taking money out of my personal bank.
I would not recommend this bank at all. Their small presence means just that, small customer service.
The good rate Bradesco offered six months ago required an absurdly high $100,000 minimum. When the rate was no longer competitive, I moved my funds and was penalized $50 for closing the account in less than 6 months. And, there is a $15 monthly charge for accounts at less than $5000. Customer service is helpful and knowledgeable IF you can get them to answer the phone. As for leaving a message, don't. The call won't be returned.
Long delay in getting back status on ticket or no response at all
Looks like the 5.23% 12-month and 18-month CDs didn't last long and neither did their 4.97% 6-month CD. Oh, well.
Been with this bank for about 10 years now. They offer excellent rates and even better customer service. Hugo is always very attentive and makes every effort to cater to my needs. Since I use this bank mainly to park funds long term I cannot comment on day to day banking experiences here but the few times I have had to take care of minor banking issues it has been taken care of immediately. I do wish they had a more user friendly website though! My only negative feedback would be that one is only allowed to withdraw $10K per day/$30Kpm online or pay $40 for a wire transfer. But I will live with it since I really like and trust this bank!