5 star: | (14) | |
4 star: | (2) | |
3 star: | (4) | |
2 star: | (2) | |
1 star: | (6) |
Like Midas89 said, every thing is true and more than that. After I transfered large amount to fund two accounts, the rate dropped to 5.24% the following day and without telling.
2. Several rep told no free out bound wiring if my balance is $50K+. After several of them made jumped through hoops ( sending my driver license again, verifying the recipient, ie myself,,,,,), after two weeks and told me no wiring service for online account. And no apology given.
3. Reps told me to ACH, I had external accounts already verified by two small deposits. But NASB decided to freeze my account because they could not verify my external account?????? I sent in a bank statement and 1099-Int and a letter in details to explain those banks are the same entities, just using different name for their digital account names. They would not accept and would not call the other banks to verify. Despite numerous phone calls and secured messages, about another week, they said they removed the restriction of my account. But it was true. NASB rejected my ACH transfer again. It has wasted 3 weeks+ of time. And the superviser promised to call back and never did.
I have spoken with the least 6 rep. Most of them were sweet, They said they were doing this to prevent scam. But I feel NASB is the one that scammed me. Their term is even unclear to their rep. You just dont know if there are more surprises.
I am so impressed with the team I've worked with on an external transfer into NASB. They were professional, helpful, and beyond patient helping me with funding my account. Hannah H and her supervisor are just a fantastic team!! I'm thrilled to be a new customer and look forward to a long and happy relationship with NASB.
I've had an account with this bank for at least 7 months and have had no issues so far. Their ACH transfer limits are reasonable and have not been a problem for me. On my most recent ACH transfer I noticed that I had the option to choose between standard and 1 business day transfer speeds which is nice. My only complaint is that they only allow me 5 linked external accounts.
When I opened my NASB account, I provided my bank and account number to indicate how I was going to fund the shared savings account, which is required first, before opening a CD. What surprised me was how funds were taken out of my external account, via ACH, immediately, without the micro deposits. Just listing my bank and account number at my external financial institution somehow gave them authorization to withdraw money. Something to keep in mind. Otherwise, I'm very happy with NASB.
My 7 month CD matured recently and I called to get their new rates since I couldnt find anything on their website. Unfortunately, NASB has no CDs available for out of state/area customers. They auto renewed my CD but for only 3.5 for 12M so Im closing it out and will reinvest elsewhere. Too bad, it was a very easy account to set up.
NASB is doing a great job now. They had a rough start, but they have been competitive as far as rates are concerned.
Your available balance might show $0. According to NASB there has been a large amount of fraud that they are working on to fix. If you need a withdrawal, you can call and request it.
I just learnt the hard way. Transferred a large amount by pulling from Premium Savings account at NASB from my external linked account. The funds were withdrawn from the external account on day 2 and apparently will show up as credit at NASB tomorrow. So, I lose 2 days of interest on the large amount. VERY slow ACH, never seen this before with any other bank/CU.
Now I have to try pushing funds out from NASB and see how long that takes. I suspect the funds will be debited immediately, but will show up in the external account after 3 days.
Recently opened a couple of CD accounts online. It was a good experience. Everything went smoothly. Although they don't do test deposits into external account, the funding was fast. Got done in one business day. They do NOT have online POD option. You have to email/secure message them with details about your beneficiary. Well, that was excellent as well. Got done in one day. Website is not that great, but good enough for basic operations. Many account related functions are not available online--like maturity settings, beneficiary change options, etc. But, overall, not a bad experience.
Update on Dec. 12--Tried to open ANOTHER account. They REJECTED my application because their software cannot "verify me" even though I already am their customer. NOT any easy link inside the online account to open additional accounts. The application process recognized me and took me straight to the funding page, still they rejected me! Their fraud specialist emailed me with a phone number that does NOT work. Looks like this bank has a lot of homework to do to support existing clients. There are plenty of other options. If they keep doing like this, they will certainly lose repeat business...
Very easy to set up. Easy application. Quick approval. Easy connection to existing bank for ACH transfer of funds.
Only glitch...You will need to call the bank to set up online banking if you wish to view your account. You will be issued a temporary password to gain access. The website, by itself, will not recognize new accounts.
Don't know what to tell you...but my experience has been excellent.
NO PROBLEM setting up the account, initial funding or subsequent funding.
I did have to contact the CSR's in regard to setting up my beneficiaries. I got to them very quickly, they gave and sent the subsequent forms, and verified my beneficiaries were recorded.
I will say I did not type anything wrong.
I wish NASB good going forward....they are treating me excellently.
Peter
I'm filing a complaint with the Comptroller of the Currency about NASB. Use this bank at your own risk, CSRs are clueless and will just make up stuff to give you an answer. They have a great rate on their MM, but the headache isn't worth the couple of extra basis points.
I knew I should not have fallen for this. North American Savings Bank had a 2.5% savings rate. Other banks were offering 2.2%. I called the bank first to ask how often they change their rates. The representative told me they were very stable and usually do not change for an extended period of time and the 2.5% rate should stick around.
Well wouldn't you know it, two week later guess what? The savings rate is now 1.77%. Lie lie lie. Why do that to new customers or any customers? Now I am moving my money out into another bank.
Account opeing process was simple and was funded next day. Website is usable and function as intended. Need to figure out how to add a PO Box mailing address and beneficiaries.
• Easiest opening a savings account, all online
• No credit check except ChexSystems
• Funding via ACH initiated from North American Savings Bank
• Account maximum limit is $5 million
I opened an account with NASB on 8/5/2022 because of the high interest rate. It was super easy and they used plaid to automatically transfer the initial deposit from my account. I then did a very large pull initiated from NASB to my bank. It only took 3 business days to be credit to my account. Hoping they continue to keep the Interest rates high. The website is functional and works well.
From Customer Service: You have to keep the account open for 90 days if you close it within the 90 day period a $30 early withdrawal penalty will apply.
NASB is without a doubt one of the easiest accounts to open online. The approval process was slow (undoubtedly because they introduced an account paying a high interest rate) but everything went smoothly. In addition, their ACH limits are excellent.
Had to call to set up the online registration. The rep helped me out and took care of it. Also, it looks like the daily limit and max monthly limit to ACH out of their site is 250K. It's my new favorite online bank !!
Wow! So far so good. Everything has been as promised. Customer service has been great.
Just opened account 8/5/22 so easy its all done. Took about 1 hour.What a difference from others I just opened in the last few weeks some are still in "limbo" Bask, Brio,My Banking Direct,First Foundation Time will tell about other services
I saw the NASB savings rate jump to top of list today, searched for their website, navigated around but found nothing about this premium savings account. I clicked "I'd like to save more money" and got a pop up box asking for my zip code. I enter zip code and get another box instructing to call a number, option 3. I get connected to a very friendly CSR who is new to the bank and inquire if this savings account is not available in all locations. She says the website is having some issues and goes up chain for help. She comes back and offers to send me a link that might work so I give my email address. She said the inquiries are running hot today which is easy to surmise from DepositAccount ranking today. She waits on phone as I retrieve the email and click link which gets me in the door without asking for my zip code. As I start filling in blanks she says the site won't save anything if I get to a point and back out. We end a most pleasant call, I continue though account opening pages until seeing the funding page. That is the first time I see the minimum to open an account is $25,000, maximum $1,000,000. So it looks like NASB has just entered the high rate online saving product world and are having some teething issues. I backed out as I will need to transfer funds to our checking account first before going further. I will likely open an account but may wait a few days to see if the website is more informative. I gave 5 stars for CSR who was most helpful, 3 stars for website.
I inquired via chat and also verbal. One was telling me there was a $20K limit on ACH transfers only if initiated through NASB's site and would not apply if initiated with external bank's site, the verbal one said it applies in all ACH transfers regardless of where initiated. Anyone have any real, and current data points?
This 'savings' bank charges you a $7.50 per month inactivity fee for depositing money with them in a savings account and simply leaving it on deposit. The interest paid hardly compensates for this charge.