| 5 star: | (4) | |
| 4 star: | (2) | |
| 3 star: | (1) | |
| 2 star: | (0) | |
| 1 star: | (4) |
The worst bank ever. Please avoid them.?you are not going to get your money back. I lost $4k and they closed my CD without my permission.
Although it it's an online Bank you get service like you would in the old days from your local Branch. Am enjoying working with Tom there.
Garbage bank, applied twice within the last 2 months , put under review then denied
Recently opened a CD account online. It was a GREAT experience. Everything went smoothly. The ACH funding from external account was fast. Got done in a couple of business days. 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. I would recommend it if they continue to offer great rates.
The CDs rate is 3.7%, one of the best and the main reason I choose them.
Open Savings account and have it up instantly. Few days later open CD account and also have it up instantly, please note I open CD from my savings account with Rising, and they used Plaid to connect.
I've notice that the Rising Dashboard is similar to Bread Dashboard, it seems like they use a same designer.
Rising Bank has a very good rate for a No Penalty CD a few months ago and I opened one.
The process was easy and I got quick and expert help with a few questions. Excellent service.
Now that rates have gone up, I looked into the details of closing the CD.
First, interest is credited to the account every three months (one month is typical in my experience). This reduces compounding a tiny bit (as I understand it).
Second, if the account is closed, accrued interest is not paid. Below is a copy/paste from the T&C document. Closing shortly after interest is paid can minimize this.
Effect of closing an account -
If you close your account before interest is credited, you will not receive the accrued interest.
I was a customer for about 3 months, during which time I linked a handful of external accounts and initiated about 10 ACH transfers in the 4 figure range (half in, half out). There were no issues with any of the transfers.
Then the bank decided to close my account, claiming that ACH transfers between verified external accounts and an online savings account are "unusual".
Rising Bank clearly doesn't understand how to operate an online bank. I suggest avoiding this bank.
It's a shame since their mobile app and website interface are quite good. And it's easy to open and fund an account (requires Plaid or a debit card, not a credit card).