Lawsuit helped with some extra money I wanted to invest. Found this bank as the top rate for 1 year CD last year and took a shot to wet my feet at 100K. CD matured, I closed my acct. and got paaid! No big bank drama. When new banks like this pop up they tend to give their best rate and that's the best time to act. For 2020 rates are expected to drop so today I called in and locked on the 3 year CD, real juicy at 2.15 now. Decided to go in for 200K this time. For me, it's a rate game, you do the math my friends.
After applying I received an email to enroll in online banking. Several tries with different browsers all ended with 'unable to process because some of the information you provided is incorrect'.
No indication of what information was incorrect but it was good enough for them to collect funding from the source account apparently.
Their business hours are pretty tight so can't call after work. I emailed and will update this review if warranted.
update: Spoke to a rep who said the reason my enrollment failed is that my information hadn't been added to their system and I need to wait another day.. I'd already gotten an email that this process was completed and ready for enrollment so this doesn't make much sense. No new stars added for this interaction.
I signed up online looking for some place to put some money away for the new year.
Here are some notes I made to help others:
They have three ways of connecting to another bank to get money for the account.
1) Using "microdeposit" to confirm that the other bank account is mine. This means that they send a small deposit to the account. The microdeposit will appear to come from another company called "Prelim".
2) Logging in to the other bank
3) Through the mail
I chose to use microdeposit and it took two days for it to show on my other bank.
I got an email as soon as I finished the application and then another two emails a day after telling me how to setup an online account (which I was confused because I thought I had already set it up)
I called them and they had an actual human respond to my call, but it looks like they're only available to be talked to from 9am to 5pm est.
Still failing to e-mail with "further instructions" in the sign up process. Will not link to external accounts from TDB so beware if you don't have another account that will you to link to theirs. Completely substandard for an on line bank. Not worth a few tenths of a percent and will close ASAP without the penalty.
Applied online to get the rate before it does down (I missed it and it went down before). Applying online took all of a few minutes on my iphone, and was able to send the deposit by connecting to my bank account and got a confirmation email as soon as I finished. Also called in when I was done and a real person actually answered my call!
They couldn't manage to properly set up an ACH link with my bank, and they don't do wire transfers. They wanted me to mail them a check and hope for the best, so much for the security of MY money. I'm supposed to take the risk and mail them a check, obviously they don't care about the customers, will not deal with them again.
I had a CD with discover and they kept giving me the runaround. When I tried to pull the CD the customer service dept. told me that they would give me a better rate to keep it. I agreed and guess what? MY RATE NEVER CHANGED! My CD wasn't even showing on my online banking acct. CONVENIENTLY, as soon as the renewal window for the CD was over, it was showing again on my dashboard. I expected better from a HUGE bank ranked highest in client satisfaction by JD Power!!! SOOO, I was FINALLY able to pull my money and took a gamble on Total Direct Bank based on the reviews and so far I have to say I am content. MUCH BETTER RATE ANYWAY! I may have to call in but I am fine with it so long as I get what I want. Just my opinion. Good luck.
The web and mobile experience can improve, but my rate is honored and there are no hidden extra fees, what matters to me, so I am a happy camper. You can actually call this customer service number and speak to a human willing to answer questions, sheeshh! I like that a lot.
The application process was not smooth. I have Chase but they could not link. No confirmation email after 24 hrs opening a new cd account. I m not sure if i can trust this bank or really have to pick up the phone to talk to someone (would be waste of my time). They need to have more user friendly online version.
While the CD rates and fees were quite competitive, I bailed out of the opening process when I learned I'd have to share my funding account login id and password with some third party in order to fund the CD via ACH transfer. Not something I'd recommend anyone do, and a red flag for me as I'd question the security sense of any bank that encourages customers to share their login information with others. Why not just verify access to the funding accounts by the common 2 small deposits rather than steal your customers' passwords?
I recently opened an account with Total Direct after seeing a better rate than what my current bank was offering me. the overall process of opening an account was simple and I was able to link my other account to the new CD. here are is what I like and didn't like:
What I didn't like:
* I did not receive an email confirmation fright away, I wasn't sure if my application was submitted I had to all customer service for them to confirm that they did receive my application.
* I received email confirmation the next day, and asked me to enroll in online banking.
What I like:
* The entire applications was online, there was no need to sign anything.
* Excellent customer service. I called customer service a few times throughout the process to ask a few questions and they were very helpful, and friendly.
* I like that I didn't need to manually enter my routing number and account number. I was able to link my account in easily.
Overall I was happy with the experience, there are improvements that can be made, but will definitely consider Total Direct again.
Wanted to open a CD but cannot ACH money to them because none of my banks are listed. Cannot believe they do online banking like this. If you want people to invest you need to make it so you can set up ACH transfer without hassles. I'm not mailing a check either.
I got some glitches with the application, perhaps because I was one of the first few, but all got promptly addressed.
- Good rate
- Good look and feel website
- Application all done online. NO paper signature card to mail in!!!
- Great customer rep experience - no wait time and responsive to questions/concerns.
- No immediate email confirmation after application submission.
- A while later received notification to login to another site to complete and send back the document. This was very confusing. It was a read-only version of the filled-out application and nothing to do. Should just request to review and if any wrong info, contact bank.
- While waiting for application to be processed, user can still access the application. There is no clear status shown whether it has been submitted/being processed and user is allowed to go through the pages again as if to create new application (confusing) and if user clicks the ACH validation page again, it will do additional ACH withdrawal!
- After receiving notice that CD has been opened and user can now do Online Banking enrollment -- well, the enrollment did not work right away.