Very good rates. Once the account is created & web-access is set up, everything works fine and the online app is nice. Getting there for me was not as easy and streamlined as their competitors however. Be prepared to possibly jump through some hoops & make some phone calls. To be fair, Rising is relatively new at this and I guess "ease-of-use" will take some time. I would strongly suggest not opening an account on a Friday after normal business hours, which is what I did. The account-creation was fine, but it would not let me set up the online access. First phone rep said she did not know why, someone will call on Monday. The 'Monday-rep' said it was probably because I did it off-hours, & also that the money had to transfer into the account before the online access could be setup. Money arrived on Tuesday, & the online-access was created okay. Could not find the routing number online so I had to get that over the phone. Could not create a CD on Wed. because my Rising savings account was not one of the options when you go to fund it! The rep said this was a glitch in the software, but that if you click on 'enter routing manually' it would work. However, even then it would not allow it because (according to another rep) the money needs to be in the account for a few days. I will give them that. As of this writing (May 20 '19) they have very competitive rates and hopefully "ease-of-use" will be improved for future customers. Rising has BOTH online savings and CDs which gives them an advantage over other "CD-Only" online banks: these return your money via a physical check, and I have seen one review saying it took a whole month to get it (which means the money can't be working for you during that period). With online Savings however you can close the CD at maturity & put everything there, & at least it will be getting the Savings account rate.
I recently helped my mom open her first online only account, and I must share that I have really liked the entire experience we've had with Rising Bank. I had called to ask about her concerns with online only bank and the customer service rep was patient, knowledgeable and informative. She was able to open multiple CD's with various grandchildren as beneficiaries with ease and got a great rate also. So far she's had a few glitches in renaming her accounts online but she set up her external accounts and transferred money into her account without any problems.
Everything was fine until I placed my 2nd transfer request. I initiated the request on 3/27 from the Rising Bank website to transfer money from my external checking account into my Rising Bank savings. Today is 4/1, and my account still shows no activity. Talked to customer service, who had no idea when the transfer is going to happen. They said maybe today. This is not how normal banks operate!!!
6/12/19 update: I placed another transfer over the weekend, this time to withdraw money from the Rising Bank savings. After 3 business days, the account showed no activity. CSR said I could try to transfer again. This is totally unacceptable. I will be looking to move my money to more reliable banks.
Tried to open an account for the high rates. Disclosure statement lists accounts as individual, joint and revocable trust. Several calls and they all say they only allow a trust to be a beneficiary.
Tried to open an account and could not get through the final process. Several more calls and they tell me that they show two pending accounts. Not worth the aggravation.
Account opening was a breeze. Funding the account was instant. Adding the checking account as expected and was done on the next day. All of my ACH transfers are posted on the account on the next day. Customer service is outstanding. You can talk to a real person without waiting. The messaging platform within the app is also very efficient, You get a reply within hours. And most importantly, the interest rate is unbeatable so far! FDIC insured and backed by the Midwest BankCenter is the peace of mind you need for a saving account.
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Rising Bank Fee Schedule:
The fee schedule is pretty blank and seriously lacking information. Below is the only information included on the fee schedule.
RISING BANK FEE SCHEDULE
Following are fees that may be assessed based on your account type. Please contact us at 1-888-222-9484 with questions.
Wire Transfer Service: Outgoing Domestic Wire Transfer $24.00 per item
Other Fees: Chargeback $12.00 per item