THE ROAD TO HELL IS PAVED BY... NETBANK
Written: Aug 03 '01 (Updated Sep 18 '01)
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Pros: NetBank is not the only bank in the world
Cons: NetBank's very existence
The Bottom Line: RUN – don't walk -- as far away from this bank as you can!
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| williamsworld's Full Review: NetBank |
How did a nice girl like me get caught up in a bank like this??
I was a very happy CompuBank customer for over a year. Then, CompuBank was suddenly bought out by NetBank and I became a NetBank slave – I mean, customer.
It started out innocently enough, a few errors and inaccuracies here and there. "I'll just give it a try," I told myself. "It can't hurt!" Then it moved on to the harder stuff – hidden fees, fine print, and silly rules. "I can stop anytime," I reasoned. "I'm still in control." Then when I really did try to quit... I realized I needed help.
Rates and Fees
NetBank does have tempting interest rates, and they do offer several "free" features such as free checking and free Billpay. However, they make up for it when they charge you all the hidden fees. Also, they do not reimburse you for ATM transactions. They claim that they will send you more checks free, and even free postage-paid envelopes, but I requested these items a total of FOUR times and never once received any.
The Website
I love banking online, but NetBank's terrible website leaves much to be desired. 3 out of 4 times, the site will lock up on me and freeze to the point where I have to completely reboot my computer. Navigation is not that great and the site is often "down for maintenance" or extremely slow. Also, it is not "real time" banking and my account was never updated until the next day, even with fund-to-fund transfers.
Customer Service
It doesn't exist, period. Nothing can be done by phone so don't even try to call. You'll just wait on hold forever, get a Customer Service Rep who will put you on hold again, only to come back and tell you that ALL requests must be submitted in writing.
The beginning of my descent into hell
When my CompuBank accounts were switched over to NetBank accounts, I decided to close one of them (a money market) since I did not like NetBank's steep fees and their minimum requirements. Then I found out that because the account had been open for less than 90 days, they would charge me a penalty! I told them that I had opened it as a CompuBank account, and the CSR told me that just didn't matter. 90 days was 90 days.
It's getting hotter...
After my 90 days elapsed, I decided to close BOTH accounts (money market and checking). One account was actually the money that my husband and I will be using for a downpayment on our very first house. We have been working our tails off and penny-pinching like mad for a long time to save up this money. It's a good thing that our closing date is not for quite some time, or else we never would have gotten our money out of the bank in time.
Having called and been told that I must submit a request for my money using their "Bank Mail" system, I logged on to the computer and sent a request. We had just moved into another apartment and my computer wasn't even unpacked, much less hooked up. But no, they are adamant about you using only their "Bank Mail" system.
Days later, nothing had happened so I called them up again. They informed me that they were "behind on Bank Mails" and that I would just have to wait until someone could "get around to it". Never mind that I was in a hurry and needed the money a week ago!
Several days later, I checked the Bank Mail system again and there was an e-mail for me finally acknowledging my request... but no, it isn't carried out yet. They were just informing me that my request had been "forwarded to the appropriate department". So I waited some more.
"Homicidal maniac attacks friendly NetBank CSR"
Then I got ticked and called them again, praying that I would get a CSR with an IQ higher than that of a potato (you'd think I'd learn). The CSR told me the request had indeed been received, but not yet processed. Trying to use only ladylike words, I wanted to know WHERE THE HELL MY MONEY WAS!!! The CSR didn't know. (I swear, the only thing these people got on their SAT's was drool.) But the ever-so-helpful CSR informed me that I could "send another Bank Mail and ask". Oh, goody!
Well, by now, I was truly scared and upset. I need every cent of that money and it's not looking like they're going to give it to me. I asked if I could just have it wired to my local bank account as soon as possible. The CSR informed me of a $15 wiring fee, and I – the Queen of Cheap – said "Fine!" I felt that the $15 would be worth the peace of mind just to end the hassle and have my money safe again. Then the rep tells me that I "can't just wire it to any bank". I have to have an actual account to wire it to. Well, pardon me, but DUH. It took me almost 5 minutes to get through to this potato – I mean, CSR – that I DID have an account to wire the money to. Then he tells me (and I really should have seen this one coming) that the request must be submitted in writing by Bank Mail.
I asked if I could submit my request by Fax. "Oh, yeah, I guess you could do that." (You GUESS??) So I sent a fax... and here I am still waiting.
In summary...
And that is why I LOVE and ADORE NetBank -- Their efficiency, competence, intelligence, accuracy, accessibility, and outstanding customer service. Excuse me for a moment while I grab a towel to wipe up all this dripping sarcasm.
I'll let you know if I ever get my money. In the meantime... NetBank, I'll see you in hell!
UPDATE 8/4/01 -- I finally got my money from NetBank, but they STILL have my accounts open. Oh well, maybe they will end up closing them due to inactivity!!
UPDATE 8/13/01 -- My accounts are STILL open, AND I have received two "welcome" letters from NetBank thanking me for opening a new account... very scary.
UPDATE 8/18/01 -- The accounts are STILL OPEN, and I have received not one, but TWO MORE "welcome" letters. How do I make this nightmare end??
FINAL UPDATE 9/18/01 -- Well, my account is finally closed and the welcome letters have stopped arriving, but it seems that have been completely wiped from their system. I tried to contacted NetBank to get some information for my mortgage company, and NetBank couldn't pull up a thing. It figures. At least it's all finally over.
Recommended:
No
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Epinions.com ID:
williamsworld
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Location: Republic of Texas
Reviews written: 60
Trusted by: 23 members
About Me:
Think for yourselves and let others enjoy the privilege to do so, too.
--Voltaire
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