I inherited some money from my father once he passed away and needed a bank I could trust to open a CD account. After finding this bank, I knew I had found the right one. They have a deal where if you open a CD with just $500.00 for 24 months, the APY is only 2.25%, which is the lowest I've seen around! They are very friendly, and always answer my questions promptly and respectfully. I'm always answered within one phone call, I've never been transferred. The employee I'm put through to always provides excellent customer service. If you have a large sum of money and need to open a CD, look no further.
i had almost 200,000.dollars in this bank and it took me over a month to get it transferred to another bank
I am stll trying to get the last 50,000 out
they have tried all kinds of postponements and have cancelled my transactions - told me it was above the allowed amount (sometimes) cancelled the transfer because i didnt answer their phone call during a work day and they said they call all their customers up when they make a transfer????????
really...i cant believe them- they are robbing me --what if i need the money to pay an urgent bill?????
We previously used mybabkingdirect when we lived in New York City for the first few months we were there. The rates on the CDs were very good at the time and so we thought it would be a good thing to try. We used a 12 month CD and upon completion of that time, we had an incredibly difficult time getting our money back and the rates they had quoted us (and were on our contract) were not the ones that had compounded. It took multiple conversations with customer service agents to get it squared away and it was definitely not worth our time and effort. Eventually they made it right, but it took quite a long time and was not worth it to us when the rates were not drastically different than competitors.
I overall found my experience with My Banking Direct to be satisfactory. Signing up was easy, given the website's intuitive layout. It took me about 45 minutes, with a couple of minor problems along the way, to have me account set up. The one thing I don't enjoy about My Banking Direct were the fees, though fees are part of any banking experience. They are an online bank, so their website is better than most banks. I like them and will continue to use them.
I currently have a savings account with MyBankingDirect. Direct deposit is set up to pull a specific amount from my paycheck every pay period. It makes saving a little bit easier because I don't have to manually transfer money from my check account to my savings account. The set up of the account was fairly easy. I've never had to use customer service because withdrawals have been seamless. I like being able to check my account and watch the interest growth. They do not have a very good mobile app/site option that I use. Not being able to check my account from my cell phone is probably the only complaint I have about the institution. All of the features within their desktop website are extremely easy to use.
I recently opened a checking/savings account here for a home business. The staff were very friendly and made the whole process very easy for me and had me setup with everything I could need in a very short time. Their online services make access to my accounts as easy as anyone could hope for and their interest rates are very competitive, just about the best that I could find. I will be getting a loan from them in the future to expand my business and I have no doubt they will help that process go smoothly. We also find it extremely convenient that we are able to use a mobile app for this bank, which allows us to perform transactions from anywhere. It's a great sign that the bank has kept up with technology as it makes me feel like I am always getting the latest and greatest, and that my money is safe! I don't think you could ask for a banking solution!
I have been using My Banking Direct for a number of years with no real problems. I use the mobile banking to keep track of my account and make deposits. When I have had an issue they have been good to deal with the reps seem knowledgeable. I also have a couple of CD's with them the rates are average. I once had my ATM card stolen I called then and they put a hold on my account and sent me a new card and after an investigation they refunded me the $275 that was fraudulently spent with relative ease. That's the main reason I have kept them they have been easy to deal with unlike my other bank in the town where I live.
Although the bank currently has one of the more competitive savings rates (1.14% as of this post), I was disappointed with a few things...
First, the account opening process takes too long. Many online banks will have you up and running the day you sign up. Unfortunately, MYBankingDirect took over 1 week to get my account open, let alone funded. I think their back end process is manual. It took a few calls to the bank to make sure everything was moving along. When I asked when I would have internet access to my account, it was actually a few days after they told me I would have access. I wasn't too impressed. They didn't have their act together on the opening process.
Second, I noticed that my statement cycle was on the 20th of the month. I requested that it cycle at the end of the month and they wouldn't change it. They told me the product cycles on the 20th. In the age of computers, they should be able to accommodate such a simple request.
Third, and most importantly, external transfers to and from other banks that are initiated from the MyBankingDirect website take three business days to complete. So if you attempt to make a transfer on Monday, it won't appear until Thursday. This is ridiculous. Most other banks are able to effect a transfer in one day through the ACH system that all the banks use. That is, I request a transfer on Monday and I get it Tuesday. They are fully capable of doing this since the trial deposits they sent to verify my external account appeared in one day. I just think they are playing games and trying to make a little money on the float.
On the positive side, the online interface is stable, intuitive and informative. They also provide tools to categorize transactions and perform simple budgeting which you don't see with many online banks.
Bottom line, slow account opening process, inflexible customer service, slow external transfers, but competitive rate with a decent online banking experience.
I applied for their Money Market account at the end of January, sent the paper version also and have not gotten any information from them since then !
Called the CS twice. They recommended me to apply again. No way ! Just guessing where my personal information can be now. Stay away from them !
My Banking Direct has been the best bank that I have ever had.I find it easier that many brick and mortar banks.I pick what I need and it always there.My employer deposits my weekly check into my account.My funds are instantly available.I pay my bills,shop anywhere and shop online all with peace of mind that I wont be charged any fee's.There is never a surprise charge on my account.This bank is normal and easy to use.I had a problem,which was totally my fault,I called customer service,they were polite and helped me find a way to fix my error.They are very professional and take care of their customers.
To withdraw money, they want a notarized letter sent to them. They do not allow external banks to ACH into the money market account. Never using this bank again.
You spend 20 + minutes entering information on the online application that looks like it was created by a third grade student and then are presented with electronic versions of information that should have been presented before you actually began (interest calculation used/fee structure etc.).After final review of info you provided your told to Print Submit Sign and Mail. Mailing them a signed copy of application defeats the whole online process in my mind. Canceling will end things, but no mention of what happens and how long all that data will hang around on the internet. Just returned to main page with not explaination.