Top Rated Savings Accounts: Poor Customer Reviews

kcfield
  |     |   188 posts since 2012

This evening, I read the customer reviews of the 10 personal savings accounts with the highest interest rates and was disappointed to see that most of these institutions had fair to poor reviews (averaging about two stars out of five), based on a variety of issues including: statement and balance inaccuracy, lack of helpful response to fraud, chronic website problems, and poor customer service.  While one or two negative reviews can perhaps be explained away; often a pattern of concern is evident. I encourage anyone thinking about opening a savings account (or CD) based on the relatively high interest rates of a particular financial institution to also look careful at the reviews as part of their due diligence. Please note that my search included all nationally available financial institutions as well as those in my particular state--thus your search results may differ slightly from mine.




jack12
  |     |   307 posts since 2021
You have to take 1 star ratings with a grain of salt as most of them are first time posters and are mad enough to sign up here just to whine
Similarly, the numerous 5 star ratings for Aspiration are almost certainly fake (They have a TON of real 1 star ratings)

Take reviews from those with dozens of posts as more valid
kcfield
  |     |   188 posts since 2012
Hi Jack: I agree. That is why I made the specific comment about the fact that one or two negative reviews can be explained away and that it is important to look at patterns of concern (which can only be discerned when there are multiple reviews).


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