A good place to park some money
Written: Oct 18 '01
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Pros: High interest rates
Cons: Hidden fees
The Bottom Line: Use it when you don't need to move your money around a lot.
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| hansbos's Full Review: NetBank |
I am a former Compubank customer who was transferred to Netbank when Compubank went out of business. Aside from the loss of the ATM fee rebates (which Compubank used to do faithfully), little changed during the switch-over. Rates are still very high compared to my other bank (a local credit union), making Netbank a good place to get reasonable interest without having to tie up your money in CDs. (And keep track of those things, which is so 20th century).
I experienced the same problems with hidden fees that others wrote about (a "bill-pay inactivity fee"; only in America!), but they were reversed quickly when I called to complain. The guy on the phone was nice and professional and I was on hold less than a minute. So now I check more frequently just to make sure all is OK, but I had to do that with Citibank all the time too, so that's no different.
So all in all not a bad place to put some money you want to keep available on short notice.
Recommended:
Yes
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Epinions.com ID:
hansbos
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Reviews written: 5
Trusted by: 0 members
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