My CD matured on 11/15/21. It states that I have 10 day grace period. I called on 11/25/21 to close CD. Being a holiday, I decided to close it online on that day. It did not allow me to close it online and asked that I do it over the phone. I called next day- 11/26/21. Now I am told that I am beyond the 10 day grace period. So if I have to close my CD- I have to pay penalty. I think it is not fair, that out of 10 days grace period they are practically closed for 3 days. And that the 24/7 online does not allow me to close the CD. When I told them that- they said it is in the legal documents. Sure it is. They hire legal teams to only trouble small investors. Keep away from this bank. Rude customer service as well. Any ideas as how to get my CD closed without payment of penalty? If I could give a zero rating I would.
Inconsistent policies and a failure to take responsibility. I used foreign ATMs without a VISA surcharge only to use ATMs at those same branches a month later and be charged a 2% VISA fee. TIAA customer service blamed the issue on the local bank. Failed to take any responsibility for it and said the VISA fee is entirely between the foreign bank and VISA as if TIAA has no role in negotiating that fee or when it is charged. Their requirement of a $5k account minimum to avoid monthly fees is too high based on other competitors. The banking internet interface for business accounts and mobile app are basic and poorly designed which makes them difficult to use. There is only the most basic integration with QB (downloads) and no support for any other platforms you may be running. The bank also declined to offer its customers access to the second round of PPP loans. I have been a customer for over 6 years and had a better experience with Everbank before TIAA acquired it. They have lost my trust.
I tried for almost a month to transfer my traditional IRA from a New Jersey bank to TIAA. The experience was absolutely horrendous. I completed all the required forms and was told the transfer request form had been forwarded to my bank. It was not despite multiple requests. Then they said they could fax the form to my bank because I was nearing the point where I would incur a penalty for not transferring my IRA within the 7 day time period. The fax was never received by my bank despite several calls to TIAA and being told someone in the IRA account department had taken care of faxing the form. I kept being told that everyone could understand my frustration but that did not help too much. I finally gave up and found a New Jersey bank that had the exact same rate for a 13 month IRA CD. I would never attempt to do business with TIAA again.
Ever since T.I.A.A took over from Ever-home the customer service went down hill FAST. These people have absolutely ZERO clue as to what they are doing. I would advise NOT using this bank for mortgages, savings, checking or any other banking. Find a Reputable bank . Don't be fooled by there "sweet talk" They lie through their teeth. ,
I had a good experience with TIAA Bank, with an IRA CD account. From beginning to end I was treated fairly and courteously by the phone representatives. No real problems. The only minor issue is the website could be a little more user friendly. Other than that, I'm happy.
I would caution you about horrendous service especially if your a Senior. 888 customer service is the worst. Both the agent and their supervisors refuse to give their last name or employee identification #. You are not able to speak to the Corporate management. I don't think the Fort Lauderdale Branch is trained to conduct anything but a simple deposit. Don't be fooled by a couple of pennies in extra interest, It is not worth the stress and i'm sure you can find other bank that can beat or match their rates.
Quitting TIAA after being Everbank customer for 19 years.
#1 - After upgrading my Tiaa App, the App asks me to enter my credentials again even my Faceid was enabled.Really?
#2. Wanted to set up the autopay for my ten-year loan - The system prohibits me to by limiting the number of payments just to six years! Really?
#3. in order for me to see my scheduled payments, I called the Customer Service to help me find it the page where I can see it. Really?
#4. When you dialed to the Customer Support number, the system tells me that it recognizes me but asks me to enter my Birthday. Really?
I miss the Everbank!.
Giving this 2 stars because the people who work there are nice!! But wow. It rough coming from EverBank to TIAA. when you called before a real person would always answer the phone right away. You could do wire transfer over the phone. Never thought I'd miss a banking experience enough to be moved to write a review about it! TIAA! Re-hire all those people you must have laid off that were answering the phones and helping your customers.
I have been an online customer of EverBank for a long time, and loved it.
I am concerned about some changes that are being imposed by TIAA. Apparently the External Transfer process is being brought in-house.
For the last week or so, Scheduled External Transfers are no longer visible on the checking account Banking | Account Activity | Show scheduled transactions - page (cibng.ibanking-services.com/cib/CEBMainServlet/AccountActivity).
Being able to see scheduled payments and transfers on the same page and their projected impact upon the balance, is the reason I have been so loyal to EverBank.
Customer Service advises 'they are working on it'
Since TIAA-EverBank had become the 'dashboard' for all of our financial activities, this may become a deal-breaker.
To add insult to injury, the institutions involved in the transfers are also not being identified in the Account Activity page. for the last week it just reports an external transaction with the amount.
Because EverBank had been so good for so long, I am hoping TIAA will either make the new process work with the established report system, or go back to using the old outside external transactions provider until the IT department is able to make changes without ruining the customer experience.
The website has many functional problems on Apple's Safari browser. They recently replaced a well-functioning person-to-person payment service, PeoplePay, with buggy hard-to-use Zelle, which some people I pay refuse to use (I don't blame them!) Customer service is a mess. They say they will get back to you on problems and then never do. Website help is confusing because they seem to have more than one website. They recently replaced the App, but I only discovered that when stuff stopped working — no info on the change was ever sent to me and they don't know why. (I check spam everyday.) I'm starting the long slog to move my accounts elsewhere.
I have been a customer of Everbank / TIAA for a long time. I have done in the past business with several Banks but not equaled the quality of services and depth of products available to its customers as TIAA.
Without exception, I received the best service and enjoyed consistently the highest return on my basic investment in my Checking, Savings, Money Market and CD account.
Any administrative change takes time to mature and overcome transitional difficulties.
Overall Everbank and TIAA have done a great job to accomplish this task, normalize operations and, as such, ought to be congratulated for a job well done! Indeed I am a very satisfy TIAA customer!
I have multiple accounts with this bank. Following their purchase of EverBank, service was good. Lately, it has sunk to very poor. I called yesterday and the recording advised a 30+ minute wait. I called today and its a 45 minute wait. I sent an internal email yesterday AM and as of over a day later, no response. Time to move my money.
Though Oct. 2018 TIAA interest rate at 2.68%, I requested a Roth IRA balance be transferred to our TIAA Money Market Account. They failed to transfer the money and renewed the CD against my instruction. Though the 1-Year New CD was posted at 2.68% they gave us .07% rate lower. The same occurred the previous year. Therefore I cannot trust them and will not put more money into other CDs at this institution.
Been with TIAA Direct for years, their rates remain uncompetitive. Further their "savings" account earns less than their money market account and like many companies require you to open a new account just to be brought up to the non-competitive higher rate. No thanks TIAA. I'm out.
I was an Everbank client for 8 years prior to its takeover by TIAA CREF. It has a responsive and very capable online interface. It was exclusively an online bank. In May or June 2018, TIAA CREF bought Everbank. From there it has been straight downhill. The interface is now wrapped by TIAA CREF's cumbersome, clunky and painfully slow interface. Simple processes no long work. For example, adding an external bank in order to do ACH transfers is now broken. I am going to close my acccount here and the search is on for a better online bank. It will take time since so much data entry is needed but how long can one put up with incompetence in a bank?
tl;dr may not be worth it to start a relationship but if you're already in, it's not imperative to get out
I got swept into TIAA bank when they bought Everbank. Rates and the good-enough software remained the same. They're not a rate leader but they're usually in the top 10.
The leading driver of my average score is that I know there is better online banking software out there so I know how much CD management, account opening, and customer service CAN be improved. They simply haven't kept up but I already have a relationship so opening an additional CD isn't terrible.
One thing that is really awful and I cannot fathom is their "security code" when you're in the process of opening an account. You need this to continue or complete an application. The site wasn't working properly and I couldn't view mine. The only way to get around it is to call them. I should just be able to do this when I'm logged in. Why is additional security necessary when I
a) already have a banking relationship and online access
b) am moving money INTO the account
Tiaa offers a 10.00 overdraft but they freeze any check or money order deposit for 15 days if you use this service they can't afford to pay for you I spent 4 hours on phone after finding they held a paid item 10 extra days because I used 9.00 dollars overdraft during the Harvey hurricane
Trying to get funds released from TIAA. We are 4 weeks into calling with each week's response being "no one has requested these funds to be released". Even called the same week and they stated it is scheduled to be delivered and is in queue and should mail 3-5 days after request. We call in when they say it was going to be received and then they say..."no one has requested it to be released." 4 weeks of this and requests to be called by Supervisor have not been returned. I believe the CSR's are not that stupid or incompetent and this is a business practice to keep funds they are not entitled to keep. I filed with BBB and will be filing with Attorney General's office as well. I plan to use Facebook and since I am an executive, I plan to use Linkdn and the groups I am associated with let everyone know of these questionable business practices.
TIAA Direct has been great to deal with in nearly every facet. Recently, I began doing some research for a new banking institution. I needed a separate account for my business line. The options at my local big banks were just not cutting it for me. At TIAA, they were able to set me up with a checking account system that would automatically draw funds out as needed and pay certain expenses when available. This service allows me to have one less hassle to worry about. I can rest easy knowing my expenses will be covered and I will never have to deal with any fees. This entire process was free and done with limited hassle. While there, I checking into rates on some of their deposit accounts. This is my only complaint about them. Their rates are slightly below average that I was able to find elsewhere.
I wrote the complimentary review at the bottom a few years back, but have to update it. Over the last few months (Spring 2019) TIAA's back office operations have spun downwards. A scheduled external transfer was not executed. Customer Service saw the snafu, but could not explain the reason. Linked external accounts can't be deleted without submitting a request. This step would be fine except on two occasions the requests weren't carried out.
"While disappointed with the interest rate drops, I'm satisfied with the customer service which has always been helpful. I use the money market for writing checks (up to 6 a month) and ATM cash withdrawals (many no-fee locations), and the checking account for paying bills online (unlimited). Easy to deposit checks with a smart phone app. This isn't my main bank account for earning interest on my savings (unless its rate rises), but it is very good for banking transactions without the banking fees."
I had been struck by inertia after TIAA dropped its rate to 0.40%. Just as I was mobilizing to move money, I received an e-mail from TIAA Direct on June 30 announcing its new rate of 0.80%. Close enough to the top to demobilize!
The rates at TIAA Direct, which was what drew me to this institution in the first place nearly two years ago, have really gone downhill. Their customer service is just atrocious. I have both checking and savings with them. I've had just one problem after another with my checking account. A couple of times, these issues left me without access to my money. This last time, it took multiple phone calls to different departments to resolve anything. After about a week, I was directed Candace (Candi) Kendall in the fraud department which was apparently the source of my issue - they had decided to put a hold on my account without notifying me. There was no fraud. They had decided to do this because I withdrew some of my own money (within the strictly limited amounts imposed by the bank). I do believe that they don't care about pushing customers away - their rates and their services are just that bad!