Trying to open a CD at this bank was an adventure and hopefully, it failed - I was told on the phone two different things by the same person so I won't know for a few days if he manually approved my account or not. I usually don't spend the time reviewing banks on this or other sites but this experience inspired me to warn others.
First thing I noticed was that the online application was identical, page for page, to a different bank were I also opened a CD recently. Apparently there is a third party that runs the app process for both banks though they don't indicate this anywhere. Same application except for 1 or 2 lines. One of the lines was a question asking if I wished to enroll in something called FirstLine. No explanation what FirstLine was so I chose NO. The other line came at the end where I was asked to confirm my email address. On the other bank that page actually wanted me to click a button to start the confirmation process. FNBA indicated they had already sent the confirmation and I needed to enter the code they sent.
But I did not receive ANY emails from them, not even a note saying I had filled out their application.
After 15 minutes I called the bank and the receptionist decided she couldn't help and transferred me to what she called "an online specialist." He was very polite and explained to me that that part of the application didn't work for "some reason" and he would confirm me manually. While talking with him I logged out and tried to log back in on the same page but ended up on a page showing FirstLine. The credentials I had created for FNBA didn't work there and the bank rep said that was a different company they worked with and if I wanted to actually see my account page, do banking, etc. I would have to enroll with them. What???
The rep, who was very friendly and constantly apologetic about the problems, sent me a personal email from his account that had a link to what he said was the login to my FNBA CD account. Yes, it seems confusing because it is. I logged in there and guess what? That page wanted me to start the application process over again. The rep said no, they had received my application and I had been approved. I asked about the two small deposits to my local banks checking account where the funds were going to be transferred from and he said that wasn't necessary. I just had to provide a scan of my state driver's license, which would go to another company called Docu-something and when I asked what that was he said don't worry it would be stored on the FNBA server. When I said no other online bank account I have (and I have 10 of them) asked for stuff like that he explained that Michigan state laws required this. He also said this third party company would also require me to digitally sign three documents. I told him no other online bank I had dealt with recently required this, esp. since I had already given them a heap of personal info in my application, but he said state law required it. And he apologized some more.
At that point I said I didn't want to open an account anymore but he said not to worry, everything was approved. (Methinks that is unlikely.)
So there you go. Apply at this bank at your own peril.
6/23/19: Started Q&Answs. Then got thru the tedious application forms, got approved,& got more forms.
7/7; Funding for jumbo CD becomes available.
7/9: CD funded @ FNBA & drawing interest!. More forms "in mail " .
7/13 Advised FNBA that ACH transfer had not really occurred .
7/17: Expiration of CD grace period @ funding bank.
7/16;Frantically emailed FNBA -again no response. Two phone calls later was belatedly
told that my account was now closed & I would have to start all over.
In short the sloppiness & unresposiveness @ FNBA cost me three + wks of effort/frustration & worry plus some $500 in lost interest which
was all completely unnecessary . Cann't wait to see their sad excuses.
I also submitted this disaster to the Federal Reserve Consumer Help.
Trying to payoff my high interest rate loan after paying for 17 + years. You would think after FNBA got all there money and more they would be willing to negotiate a lower cash payoff on the balance. Well my friend's, no, they won't budge. It's sad to know that FNBA a billion dollar company does not care about us. I WOULD NOT RECOMMEND THIS BANK TO ANYONE , I would rate bank no stars. 0
Website process for requesting a CD was pretty standard, but that appears to be the end of automation for FNBA. After that, the archaic funding process is the worst I have encountered. Numerous followup contacts are required, and after a week the CD still had not been funded.
They don't use the automated deposits and withdrawals that any established online bank does, so be prepared for significant delays and slow responses to your communications. Wouldn't bother going through that pain again, wouldn't recommend FNBA.
I established two CDs with this institution online over the past weeks (with no other prior banking relationship with them).
I did not experience any of the delays in communication referenced in another recent review.
FNBA has invested in pretty sophisticated software to manage the application process; I was impressed for what is obviously a small bank. Prior to initiating the application, I emailed them to make sure I could transfer proceeds at maturity via ACH (some of the smaller, high yield banks won't do this, you need to ask to find out). FNBA (promptly) assured me they provide this option, so we are off and running. The online CD application process provides a written overview of what to expect during the process. You would think such would be obvious, but almost no other online bank in fact does this, rather, with most others, you just blindly stumble forward at the mercy of the programmers and their undisclosed procedures.
The FNBA approval process includes several steps interspersed with an actual review by humans (so it is not solely automated). The only glitch is that as each stage is completed, they send you an email that instructions are ready for the next step, at the secure Message Center (you set up access as part of the initial application). Unfortunately, my internet service provider interprets these automated messages as "spam" and sends them to the spam folder. I couldn't over ride this, so if you are using Comcast, be forewarned.
FNBA does NOT use test deposits with your funding account. Once they have approved your application, they withdraw the funds and send you email notification the application is approved (and send you documents to sign electronically using a service called DocuSign). The good news is that your CD starts on the day they notify you and initiate transfer, not when they get the funds, so you don't loose any interest. The bad news is that you had better have the funds available in the designated funding account, as you have no control over when they approve/fund.
Subsequent CDs have fewer steps to approval. You don't have to set up an online banking account with them to get this expedited processing (still takes several days from application to funding).
Some other internet banks have you start all over from the beginning for subsequent CDs, unless you have set up online banking with a transaction account. I hate that because I'm trying to invest in CDs below the FDIC limit, not set up lower paying transaction accounts littered all over the internet.
well I I'm very happy with FNBA their service was awesome , I live in California and I thought will be hard but no. It was less then I expected, not only that but they had sense of humor they were not stressed . And thank you guys. .. in case someone in spanish
excelente el Personal fue muy amable. yo estube buscando prestamo para una casa pero los bancos no me daban !asta que encontre a FNBA estoy muy satisfecho con ellos . actualmente vivo en California y esto no fue un problema para aser el prestama
THE BEST EDY
I have an unreturned voice mail into a Doug Johnson, a branch operations specialist, that is 4 days old and counting regarding a CD application. I mention it here since I get feedback from the bank quicker on the DepositAccounts’ user forum than I do when I leave voice mails or send emails to the bank! Let’s see what happens with this complaint!
Over the past three years our family has moved a significant portion of our resources to First National Bank of America. We made our decision initially because FNBA had competitive CD interest rates and still continues to have the best rates in town. We knew we made the right decision as time passed and have had several occasions to interact with the great staff at FNBA. We would encourage everyone to give FNBA a try.
In conjunction with our business we rely on Relationship Banking. I have known Scott Raymond for a number of years. Over that time we have had the opportunity to work with him on financing for our commercial properties. Scott understands the role that relationships play in attracting and retaining customers. It is always a pleasure to work with Scott and his support staff. They are always professional while still displaying the people to people skills. We consider Scott to be a friend in addition to our banker. We look forward to a continued relationship with Scott and First National Bank of America.
The beauty of having a smaller bank firm for your business is the level of customer service you receive. If there is a concern, it is taken care of immediately. Amanda Mattson at the Grand Rapids branch is great to work with and we at Redstone Properties appreciate her promptness and attention to detail.
I have been a member of the Traverse City FNBA for a few years now. Right from the start I was pleasantly surprised at the atmosphere and physical appearance of the bank. The tellers and local manager always make you feel welcome and take the extra time to "get to know you". I have been in customer service for many years. FNBA really knows the "definition".
I stop in to FNBA a minimum of 2 times a week. Always very professional, helpful and friendly when I come in. Over seeing about 100 accounts can get very confusing at times, but Britten Krieve set up everything in a way that makes life easier. She is also always there for my questions whether it's a phone call or email. Overall banking with FNBA is enjoyable and pain free.
We have a few accounts with FNBA and I found this bank just excellent because people -especially Britten Krieve - so professional, so nice with customers, promptly respond to any inquiry and immediate solve any problem, that was arise. Around managers like Britten all employee took her as example and act professionally too. She is very friendly and knowledgeable. I recommend this bank to all my friends.
Joseph & Rita Slutsker
I have banked at FNBA in Traverse City for several years with my business and it has been an awesome experience, when my account was hacked they worked with me to take care of the issue, returned my money to my account with no delay in my banking. Everyone is very friendly and knowledgeable of their products and if they need to get me an answer on something they get back to me promptly. I love working with these guys and would recommend them to anyone.
I am very happy with the accounts that I have with FNBA. What really makes a difference is the service at the Traverse City branch; they know my name, they are professional and are always helpful. I can honestly say that the customer service goes above and beyond. I would highly recommend FNBA and Jodi Harrand and her staff.
Seven years ago I was renting a building for my business with the intention of buying it from the owner. Our rent payments were always timely and I thought nothing of investing 40k in reconstruction to support the business we were doing.
One morning I arrived to find a 'notice to quit' tacked to the door. The long story short being the owner took my money but failed to pay the bank and we were never notified of the pending foreclosure until that day.
We tried working with FNBA to purchase the building at the fair market rate but that was not to be.
Taking full advantage of our lack of leverage they forced a closing less than 60 days later for the full amount owed by the prior owner plus penalties and interest, well in excess of what should have been paid. To further add insult to injury, FNBA assessed an 11% APR due to the fact that the company had no "credit history" that they found acceptable, primarily because I did not use credit to operate the business nor did I have so much as a credit card in the name of the company. Now we are nearly half way through the 15 year mortgage with no missed or late payments and they will not even discuss a refinancing of the buildings in spite of our considerable equity in them. The representative I contacted rudely announced that they "we're not going to refinance that property" When I asked for an explanation the reply was simply "we're not going to do that." I asked him one more question which only seemed to annoy him further to which he replied, "I'll call you, back." Naturally, he never did. We are now seeking a commercial re-fi through other banks and will likely close this year at the low end of the commercial lending rate.
So, instead of getting a fair interest rate for the duration of the mortgage, they will simply get 100% of nothing. FNBA seemingly has no further interest in the customer than to line their pockets and has no sense of doing what is right. The sooner we can be rid of them, the better.
My husband and I bought our mobile home and land through this bank. They've always worked with us. We have a really high interest rate but, we are working on getting that lowered. When my husband was out of work for a layoff they were always so nice! They worked with me to try and keep the mortgage paid! Wonderful wonderful! It's good to have someone who understands and works with you! Thanks for you help!