| 5 star: | (3) | |
| 4 star: | (0) | |
| 3 star: | (3) | |
| 2 star: | (1) | |
| 1 star: | (2) |
If you are in the state of IL you will need to call the bank to get a direct email link to sign up for the rate. The website does not allow IL residents to open the account but it can be done.
As others have mentioned, the initial service and ease of access to have questions answered by real people was stellar. Beyond that, good luck actually opening, funding and getting enrolled in their online banking, with the glitchy enrollment process and non-functional digital online banking enrollment process (and no, not due to hardware/software on my end). Finally gave up. Now have a funded account that I can't access digitally. Final frustration was a very rude Customer Rep (contract/outsourced presumably, to service the online banking platform only, and not to be confused with the great service I had received prior when opening the account). Since the whole point of having money in Savings versus brokerage or CD is to easily ACCESS it, without dealing with glitches, or inaccessibility due to software problems, now closing this account. Plenty of other more reliable banking options out there, with interest rates rising.
I just opened a MM account with Republic/Chicago and can not speak high enough of their professional and friendly service.
In no certain order:
1) Opening an account: Their online system was straight forward and uncomplicated with good identification security to determine who I was.
It was still quick, and virtually immediate in response and establishing my account.
2) Funding: Their funding system was easy and none of this PLAID system whereby you have to give your passwords/etc, They sent trial deposits immediately.
3) Beneficiaries: POD designations are done by separate and quick E-mail. (POD designations are very important to me in regard to both estate planning and FDIC insurance coverage.)
I reached a CSR IMMEDIATELY who immediately supplied me the forms,, and followed through immediately with confirmation and evidence that my beneficiaries were properly of bank record.(If you are unaware, it is extremely important that those records are of proper bank record in regard to FDIC coverage and estate records.)
4)Security: In completing my online account, I had to second confirm several decisions with telephone or text confirmations. Worked flawlessly. I like good security.!!!!
Their ACH transfer capability, originated by Republic , is relatively very limited in dollars permitted... but they fully honor an external source's push or pull demand. I understand their limited originator restrictions, as it minimizes their liability, and I consider it an additional security measure for me.
CUSTOMER SERVICE: I give it multi star**********+ plus stars on my experience. I reached a representative immediately. BIANCA was well spoken and fully understandable and a local bank agent. She was knowledgeable, professional, courteous and honestly friendly. Her subsequent E-mail responses were almost immediate and her follow-up thorough with additional helpful information.
She even caught MY MISTAKE and promptly took care of it.
I felt like I had a local banker that honestly gave a darn about my business and wanted to do a great job. I suspect any other interactions with Republic will be similar.
Telephone banking: I'm older and don't use that, so I can not speak to it.
From my initial experience, I very much look forward to banking with this institution.
Due to numerous bad experiences over many years with many banks, I emailed questions BEFORE applying online to open a Digital Money Market account. I received a very prompt response and here is what I learned:
1. No $ cap on balance in the high yield account.
2. Initial funding by ACH from your other bank.
3. Initial funding limit: $75,000.
4. $50 credit for wiring $ into account (limit 1).
5. Online application process was as easy as they get but you do not get instant approval or account number so I deducted 1 overall star.
6. Two mini deposits will be made to link external funding account within 1 to 3 days. After you verify with Republic, your ACH deposit/transfer will be made. They don't have/use Plaid for instant linking so I deducted 2nd overall star.
I was considering opening an account. Called the customer service to find out where on their website I could find Legal Terms and Agreement.
Day 1
Spoke with a person number 1. The person number one did not know how to find the legal document and was not willing to answer any of my questions on their products….
was transferred to a person number 2. No answer. Was prompt to leave a message with my phone number and name. Message left. No call from the bank.
Day 2.
Spoke with a person number 1 who was not willing to answer any of my basic questions on potential accounts, was transferred to a person number 2 who did not want to talk with me either. Was transferred to a person number 3. Same story. Was transferred to person number 4 who appeared to be the same person I left a message a day before. No answer. Left a message with my name and phone number. No call back…
How can I trust a bank which my funds if I cannot find out how my account would be handled?
Confused…