My CD expired and I didn't want to renew so I called and was told that I cannot cancel over the phone I would need to send an email. So I sent an email through online banking requesting that a check be sent to me and a confirmation sent to my email address. Apparently this is not good enough. They do not want an email sent though their online banking, (you would think this would be a more secure way of sending), but they want a email sent straight from my email address. I did this and 3 days later still no confirmation email. I had to once again call to find out what was going on as the 10 grace period was just about ending. The rep was quite snippy and I am not please with the way the whole thing was handled. It seems to me they were dragging their feet in order to hang onto the CD. I do not like making multiple phone calls and emails in order to get something done. I believe if I hadnt called my CD would still be sitting there and no check would have been cut. I wont be doing business with them anymore.
This is a really bad bank. They make it very difficult for the average person to figure out that their CD will automatically renew at an extremely low interest rate. If you don't stop it in time you have to pay a penalty to get out- one year's interest for a 5 year CD!. I have had many CD's and never dealt with a bank this shady. Where is the FDIC?
On-line access to your accounts from an unregistered computer requires that you receive a security pass code at a phone number or via text. If you don't have immediate access to a phone or text-capable cell phone, you're out of luck. They do not allow or have the capability of sending an email with the pass code - gave me some BS reason like email isn't secure. And I'm thinking "and phone calls texts are (guaranteed secure)???" Because I don't have access to a phone or text capable cell for incomming calls during the time and days I'm doing my banking I advised the CSR Manager (Maria) (after speaking to the snotty and very unhelpful CSR) I'd have to use a friends cell for the text. Now, they're going to send this pass code to a phone that is neither mine nor on record for my account. (Maria assurred me that this phone number would be used only one time for the one-time passcode...we'll see...) I have multiple CD accounts with iGo. Sure, at least at this moment in time, they're rates are among the best. They have to be. That's likely the only way they can lure in customers. They probably have a pretty low retention rate. As soon as my accounts mature I'll be closing them and will do business with banks that are more customer accommodating and friendly.
They automatically renewed several of my CD's even after they assured me that they would not. Another thing they do is force you to contact them regarding CD maturity through your regular, unsecure 3rd party email (say Yahoo or whatever you use). Absolutely horrid and rude customer service.
Stay away from this bank if you want good customer service and any sort of control over your account. I have been with this bank for 2 years. It took almost 30 days to get all of my accounts set up because their system is so archaic and Customer service is only available 9-5pm EST M-F, so if you are on the West, you only have until 2pm. They have no overdraft, and if you make one mistake, their bill pay company Metavante will freeze your account for 5 business days which cancels all pending payments. Recently their system duplicated a payment which overdrew my account, but Metavante still won't unfreeze my account even though the bank asked them to. Now suddenly I am locked out of my online account with no access at all and of course customer service isn't available because it's 3:30 PST. Not worth the aggravation. I just moved everything to Ally where they have overdraft, 24/7 customer service and equal interest rates. All of my accounts were set up in about 2 hours compared to 30 days with iGo. iGo elsewhere and can't get there fast enough.
I have two CD's with this bank, and the first one was opened fairly easy - The second, being funded with $10,000 at a 3.15% rate took over 2 weeks for them to open and then they opened it at 2.75% - They say the rate is at the time they fund the account. They ignored ALL requests for a status until they lowered the rate and now I am stuck losing .5% for 5 years. Their customer service can really suck.
Customers service is either pathetic or willfully malicious. The terms on the CD's ought to be illegal. If you withdrw early, you have to pay them the entire interest the CD would have paid over the term?? I am now locked out of my accounts and have been calling customer service for two weeks trying to find someone who can reset it. Sort of like ground hog day.
Gistsforbanking.com/Igobanking.com customer Service
Reading all your concerns about these banks, I decided to e-mail them some of your and my concerns. I sent the e-mail Sunday November 21 at 9:13pm est. They responded Monday November 22 at 10:47am est.
Their responses are in Bold.
My concerns as stated by others is the time it takes from when I first open the Cd till you actually open it. As one person describes a 2-week gap and then got a reduced rate... Your rate is locked in at the time of application date. Should you start an application today, and the rate lowers you would be guaranteed for the higher rate. In some cases there were gaps in opening due to documents that we may have required from the customer and they have delays in sending to us
Also asking access to my outside funding account vie my password with that bank... · We have 3 different ways to fund your accounts. They are as follows real time deposits, trial deposits and check deposits. Should you opt to transmit your transaction real time you can input your financial institutions online id and password and they confirm via real time which eliminates time delays etc. This is a total electronic process and no person is involved and we are unable to obtain the information from that real time transaction for your security. Trial deposits are when you input your routing number and account number and we try deposit 2 credits into your checking of savings account, you go into your account verify the amounts and revisit our application and validate the amounts. Check deposits- good old fashion check is mailed to us. You make the check payable to yourself and mark on the back for deposit only and mail via US postal mail to our address 1979 Marcus Ave LL C103 Lake Success, NY 11042 Also heard story's of terrible customer service, with the inability of getting anyone on the phone, email etc.One even stated he hasn't heard from you in 3-weeks since he opened his account and is WORRIED about his money Our normal turnaround time is 24- 48 hours not including weekends or holidays. I am unable to validate your concerns at this time. Without specific persons, or email address etc. Sorry I cannot elaborate more on this question.
I have had an account with iGObanking for over 5 years. When I first joined I used it as an online savings account. Then their rates got progressively worse over the years. Obviously all rates have dropped but they were near the top of their competitors when I joined, now they're offering a measly .25% for an online account. My biggest gripe is that I've been hassled 3 times over "security concerns". After 5 years I don't know why I'm all of a sudden a threat. Most recently I transferred money into my account from one bank, followed by a transfer out the following day. I do this several times a month to move money between my bank accounts. They accepted the money in from my first account, then suspended my account and did not allow me to transfer money out. This happened at 6 pm and they have nobody working customer service after 5 pm. So I had to wait until the next day to inquire about it. After talking to a very rude customer service supervisor (every conversation I've had with them has been extremely rude customer service reps). I was told that my account was frozen and I could not have access to my funds unless I sent them bank statements for the last 90 days from every bank account I had linked to them. After I tried to explain that my bank statements were none of the their business (I tried, but was cut off by the supervisor), I told them I'd be closing my account. As with everything else there, it will take a week or more to get my money back from them. So, in my opinion, they've just stolen my money from me for the next week. Horrible, archaic, system they have.
Either their software is buggy, or they change your application after you submit it. I applied for several of their "Giftsforbanking" CD's and they processed as normal CD's. After several months wrangling, it was worked out, but I had to deal directly with a manager. The customer service person I was supposed to deal with, was far too rude and uniformed (dangerous combination) to even get the process started.