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Been trying to set up a CD account for 4 days now...may ultimately just have to drive to a local branch. The interface mysteriously inserted my middle name into my account co-applicant's profile which I only caught during the final review...and their is no way to back out an 'fix' this. All other items uploaded correctly (TDL, Multi-Party Form, etc) but it's still a VERY very glitch-prone interface. Customer Service claims it would be fixed by their banker on their end (?) Anyway, I'm quickly losing interest in their product after 4 days of working their online tool.
State Bank of Texas: Very high ($100k) minimum balance requirement to earn interest, very high (25k) minimum balance to avoid a month fee, poor online banking, no ability to link to an external account for ACH transfers and an absurdly cumbersome new account application that was clearly written by an anal-retentive attorney.
Follow up to my initial comments: I just got off the phone with a rep who confirmed that I cannot link my Jumbo MM account to any external accounts. To make a new deposit, I must wire funds from another bank or mail them a check. Furthermore, they are currently offering a much higher rate than I have. They do not pass along interest rate increases to existing customers. Lousy way to treat a customer!
So many banks have a much more APY. And this bank wants a minimum balance of $100,000 for their abysmal APY?
I called this bank on TWO separate occasions inquiring about its Jumbo Money Market account. I had to leave messages both times, but nobody ever called me back.
I find this to be incredibly unprofessional and bad business on their part since I was looking to deposit $100,000 and not open a Christmas Club account with $100.00!
I'm shocked by their incompetence.
Beware- when balance falls below $25,000 there is $20 monthly fee-
The Chicago office said you must go into one of the branches to open an account. It can't be done online or by snail mail.