Ivy Bank Reviews

Average Rating:
Based on 16 review

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TERRIBLE! Not Ready For Prime Time

Posted by: |

I've dealt with many internet banks and this was possibly the worst experience. They have some serious systems problems and possibly regulatory failures too. I opened a new account without any problem. They debited funds from my linked account and the funds showed up as a deposit and then a withdrawal on the same day - leaving a $0 balance. WTF? Customer service said that my account wasn't "fully vetted" and the funds should never have been pulled from the linked account. BUT WHERE IS THE MONEY? AND WHO'S GETTING THE INTEREST? The Ivy rep said "they are having lots of these sorts of errors... and it could take days to figure this out." DON'T BANK HERE!!!

Denied Application For High Yield Savings Account

I applied for a High Yield Savings Account and was denied. No reason was provided. Money was to be transferred from my credit union via their online tools.

Oh well. No 150K for them.

Total waste of time.

Couldn't Open An Account

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The application process was a mess. Nothing seemed to work right. When I finally completed my application, I received this message: "Unfortunately, we cannot open your Ivy Bank account at this time. A review of the information submitted determined that your application did not meet our account opening criteria."

Great Experience

Posted by: |

This bank seems to be the real deal! Super easy process to open an account and I was immediately able to get into online banking. I opened the account a few months ago and they proactively increased my rate and emailed to tell me. Nothing bad to say... exactly what I expect from a digital bank.

Unknown Rejection Of Savings Account Application

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I was concerned with savings account transfer limit. Therefore, I emailed them asking. They courteously replied promptly. I further asked that if it is possible to pull money from another US bank from Ivybank beyond their limit. They also replied promptly. So I have confidence in them.

During the account opening application process, all steps were cleared and swift. However, in the end, their website had me wait for confirmation of opening. A couple of days later, they emailed me that they cannot open a savings account for not "meeting their account opening criteria" in the time being . Confused! No reasons for rejection. I suspect that they are afraid of me sudden pulling money out of their account might be the reason for not allowing me to bank with them.

They just lost a potential loyal customer with at least $250K.

So Far, So Good!

Posted by: |

I decided to check out Ivy Bank when I saw the rate was one of the highest out there. The account opening process was really quick and easy, took about 5 minutes. I also like the mobile banking experiences so far...it's easy to use and I was happy that I was able to easily deposit a check and transfer funds from my other bank accounts using the app.

Good Experience So Far

Posted by: |

I opened a high yield savings account with Ivy Bank and have had no issues so far. It’s one of the highest rates I’ve seen and their online banking tools work well for what I need.

Fraud Alert

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- The application process was glitchy due to dysfunctional web site.
- The first bank that ever asked me to link to an existing savings account prior to authorization. After they took my user ID and password to the funding account, they informed me that they would review the application and get back to me.
- Despite a perfect credit file and 825+ credit score, and high income, they requested that I email them via insecure email copies of my state ID, Social Security Card, and telephone bill. Basically, anyone who hacks to this info would be able to take over the telephone, fake my identity and steal my money.
Never trust this bank.

Overall A Great Experience

I opened my account in minutes, was approved immediately and was able to setup online banking. I had a question about my account and was able to do a live chat with one of their representatives. Their current high yield savings rate is paying much higher than the national average and their mobile app is highly rated - nothing shady going on at this digital bank! Highly recommend!

Terrible Experience

Posted by: |

Had a question about money being moved from my account. Called Ivy Bank and rep (Erma) said she would call me back. She never did. Called back when more money was removed without explanation from my account. Called the 800# and got Erma - again. Said she'd call me back, and never did. Now they've closed out my account - with neither my request nor consent - and sent me my balance. They honestly did me a favor. Stay away.
You've been warned.

Nonsense Bank

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Perfect credit, substantial income and this is the only bank in the past 40 years that has turned me down for establishing an account. No specific reason given. Changed my password to the account I was going to fund the Ivy Bank account with immediately after being denied since Ivy Bank asked for it to link accounts. Something seems fishy here. I would avoid this bank like the plague.

Garbage-Don't Waste Your Time

Did not open the account with no reason, after long glitchy application process. Their system is broken and they don't give you any reason for not opening your account. I never have problems opening accounts!
After calls they say they don't deal with some states. Why are they on this website?

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