Prime Alliance Bank Reviews

Average Rating:
Based on 11 review

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Awesome Customer Service

They answer the phone and respond to emails very fast. And they offer extra FDIC insurance through INTRAFI for large accounts.

Easiest Bank To Do Business With

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I can't say enough positive things about the customer service at this bank. Always a remarkably pleasant experience, with informed answers to questions. I just love this bank!

Online Money Market

Excellent customer service. They actually pick up the phone when you call them without going through a long automated service.

Could Not Open An Account

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I tried twice to open an account and twice, using two different valid IDs, and the site said they couldn't verify my identify. The information was valid and I can't recall ever having that problem before with a bank application. I guess they don't want my business.

High Interest Savings

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I opened an account because the bank was offering the highest interest rate at the time on a savings account. The rate has decreased since then but is still up there among the top banks. I found the application process to be pretty easy, it only took me 15 min to apply. New customers aren't able to pull funds from another bank, so I set up a transfer from my original bank to my new savings account, but there was no hold on the money I transferred which was a nice change.

60-Day Hold On New Accounts

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I opened the savings account with Prime Alliance Bank (PAB) last month. For initial deposit, inbound ACH took one business day to clear. That was pretty good. I haven't withdrawn any money for 10 business days after opening the account. This morning I finally had a chance to test out outbound ACH with PAB before I planned to deposit more money into the acccount, but I couldn't withdraw a small amount of money from the account because PAB placed a 60-day hold on the account. Therefore, you should not deposit too much money with PAB before 60 days of account opening if you think you will need to withdraw your money soon.

Updated 5/23/2020: I wanted to deposit more money to savings account today. However, before making deposit I tried to withdraw $100 this morning. I was surprised PAB still didn't allow me to withdraw $100. My savings account has been opened more than 60 days. I'll have to call Customer Service to ask why I couldn't withdraw money.

Updated 6/12/2020: I just found out interest on savings account is credited at quarterly.

Closing My CD - Smooth Experience

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My 48-month CD had a maturity date of September 5. I submitted a request by email, about a month ago, for the CD to be closed upon maturity and for the balance to be sent to my external bank account. I woke up on September 5 to an email notification from my external bank of the deposit from Prime Alliance. Pleasantly surprised that it went so smoothly.

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