Don't be seduced by the juicy interest rate
Written: Jun 01 '01
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Pros: responsive customer service, high interest rate
Cons: slooowww deposit time makes you bounce checks, so who cares about the interest rate?
The Bottom Line: Stick with a brick and mortar bank with a good online banking component and interest checking.
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| guccililpiggy's Full Review: First Internet Bank of Indiana |
When I saw the high epinion ratings and high interest rates on firstib.com's checking accounts, I was sold.
The account opening went smooth, and soon I had my first "Internet Bank" account.
Then I had to actually use it.
After asking customer service via email where I could locate ATMs that accepted deposits, I got a quick and helpful response. Closest MAC-network ATM two blocks away. I walk down the street and make my deposit.
So far so good.
Then I wait. Several days pass, the money still has not gone through. I keep waiting. About a week later, the money shows up in my account, 3 days after a check I had written to a friend in a different state cleared, incurring a $30 overdraft fee.
A few days later, they announce a $4/month "Maintenance Fee" for checking accounts, and are no longer paying interest on accounts under $500. I wonder what the "maintenance" fee will be used for, as they do not have to pay for land, buildings, or employees like a normal bank does. I won't be around to find out though, I just cancelled my account.
I am sticking with my Washington Mutual account, which features IMMEDIATE access to ATM deposits, real banks, and a new improved Online Banking website.
Recommended:
No
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Epinions.com ID:
guccililpiggy
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Reviews written: 3
Trusted by: 0 members
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