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I've been in and out of igo. I usually carry a large balance when they are rate competitive (half the time) and move by money somewhere else when they aren't (the other half). The $3,000 transfer limit is a huge problem. It has always been waived within a day on inbound and outbound transfers, if you write them. But, they make clear in their response that it is a 1-time thing and that you need to act immediately. Fast forward to now - they raised their rate from 0.55% to 1.30% finally. The 1.30% rate is almost 50% above what I am getting at Amex or Sallie, but the time consumed in writing and the very thought of needing to ask a bank to let me access my money in a savings account again, is making me happy to just sit still, or to move to another bank like Citizens which is also competitive but doesn't through up unnecessary obstacles.
PJs at bedtime | Jun 25, 2022
I should point out that it also just isn't a bank that you can transfer money in and out of easily from an external account at all. Most banks are easy. This one just didn't work. Probably something to do with the way it is set up as a Flushing subsidiary.
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This is the worst online banking I have seen. Without any warning they restricted access to withdrawals to $1000. Representative said they implemented on ALL accounts for ALL customers due to “fraud”. At same time my external account info and beneficiary information was deleted (without any warning either). Having 245K on the account, would take me over a year to transfer money out, so the only option was offered to close the account, and receive a check by mail for a fee! No interest for last month was added to the final check. The phone rep did not offer any resolution to the fact the interest was missing, only that she would “message the management”. This bank will steal your interest and block your access to your money, it’s impossible to resolve any problems on customer service level, no way to reach to management directly, avoid this bank by all means. -
We opened an account 6 months ago at 1.65%. My husband and I I put a lot of money there (FDIC limits). When we saw the new rate, I called and was on hold for 20 minutes. I cannot believe that I was put in a position where I was forced to beg (yes, beg) your representative to give me the rate that you are offering new customers. Yes, $3,000 over the course of a year in interest is a lot of money to me and yes I do need you to make the change. No, this is not acceptable customer service and we will be looking to move our account on Monday.
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Sort of surprised by the bad reviews here. Has some problems with the website, but the service is good and the people nice.
Jeff | Apr 17, 2018
The people are nice, OK. But, this is a huge racket. It is a constant process of opening new accounts and switching between IGo and Purely in order to get the latest rate. Goldman, Synchrony, Purepoint don't play these games. No reason for anyone else to play either.
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I am surprised that the reviews aren't better. This was not my first account, and I found it just as easy to open as the others. I am in my 80s and if I can do it, you can too. You may not be able to reach anyone to discuss my account at midnight as I can with Ally, but I am not doing that anyway.
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I have had some of the problems as others. In particular, I find it difficult to get to the screen that allows external transfers. The delays with external transfers inbound and outbound are very frustrating. I only move money in or out on Mondays. Otherwise, I lose a weekend of interest. Nice to have but this would not be my first or even second online account.
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Reading these comments ... it never happened for me either. They kept asking for better photocopies of my drivers' license, bills, etc... Never got confirmation of my account. Tried to call be very limited answering hours. Would recommend opting for a slightly lower rate from one of the other banks here. I have had good experiences with Amex even though the rate is no longer so good.
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Dear Sirs: I applied for an account on your site, went through your verification process and indicated I would be sending a check. The message said my account was open, but then I received an email saying further verification is necessary. 5 days have passed and I have not heard from you. I would like to get 1.10% but am not sending a check until this is sorted out. Please kindly advise. Sincerely, Caryn Mahoney
PJs at bedtime
Jun 25, 2022 | | Replies 1