I just set up the Premier Savings account. Transferred some money from another account (very few are able to be linked), and found out that I could only transfer out a max of $5000 at a time, 3 times within a week. I would have not opened the account if that information was available. I talked to their customer service and they confirmed it. Said it was a new product and they are gradually changing things.
I use several products from this "bank" including a personal loan, vehicle refinance loan, Upgrade card (crazy rate, don't use!) and their "Rewards Checking". My checking account WAS used simply to transfer money from my primary bank account to this account for use in various securities trading accounts and an eBay account. I haven't used this account since March 2023. In April 2023, the account was "Suspended". No notice, no reason, no nothing. I called and was told that the department that flags accounts is "automated" and cannot be contacted directly. They would internally contact the department and an email would be sent to me concerning the reason for the suspension and next steps. Never got that email. Called again. Same response. Called again. Same response. So basically, they are holding my money hostage with no way of getting back. They are horrible and unprofessional. Stay away!
|FDIC Certificate #||58410|
|Return on Assets - YTD||0.93%|
|Return on Equity - YTD||7.74%|
|Annual Interest Income||$179.6MM|
|Assets and Liabilities|
|Assets||Q1 2023vs Q1 2022||$8.46B$8.88B|
|Loans||Q1 2023vs Q1 2022||$6.42B$7.15B|
|Deposits||Q1 2023vs Q1 2022||$5.81B$4.51B|
|Equity Capital||Q1 2023vs Q1 2022||$1.07B$784.2MM|
|Loan Loss Allowance||Q1 2023vs Q1 2022||$78.9MM$48.7MM|
|Unbacked Noncurrent Loans||Q1 2023vs Q1 2022||$25.1MM$28.3MM|
|Real Estate Owned||Q1 2023vs Q1 2022||$0$0|
Upgrade is an Internet only bank and does not have branch locations. Its headquarters is located at 275 Battery Street, 23rd Floor - San Francisco, CA 94111