E-Loan. Don't waste your time!
Written: Nov 05 '06
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I have about $100,000 I want to put in a money market account until we are ready to buy a new house within the next 12 months. So I check the rates on bankrate.com and there is e-loan advertising 5.50%! Wow - on to their site and applying for an account. The site is easy to use and I was in good spirits. The last step in setting up an account is the "account verification" were e-loan is going to send to small amounts to the linked account from where the funds are being sent. Guess what - they say on their site in take up to 4 business days. I am waiting now for over 3 weeks. I have called numerous times their customer service which is always very nice. But nobody can say why it takes so long or what the holdup is. Meanwhile I have lost valuable time and interest. I also lost interest in e-loan and find another online bank with rates slightly below e-loans rates but are for real.
I have come to the conclusion e-loan does not want anybody to give them their money. Otherwise it would not take that long, right?
My advise - don't waste your time and interest.
Recommended:
No
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