Displaying results
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Sunday, 10-04-09 20:12
This is one of the most poorly run financial institution in the United States.
Apparently, they've been at it for over ten years and haven't figured out that confusing, misleading & screwing customers is not good business.
If I didn't know better, I would think they are a scam or money laundering operation.
Should call themselves:
"BANK OF STONE-AGE"
FYI: AVOID
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Sunday, 08-30-09 12:36
I shoule have read the fine print. Imagine an Internet bank of any kind without withdrawal slips,electronic linking except for the initial funding, and fees to transfer your money out by wire, 90 day closure fees.
Sort of like a pitcher pland.
lured in, and slippery sides when trying to climb out.
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Friday, 08-28-09 16:21
This is an awful bank. They offered you a 2.50% rate on July 21, 2008, it drops to 2.02% by the time my account was finally approved on Aug 4. Now it drops to 1.65% on Aug 28.
I am going to get all my money out asap (leave $1 for 90 days otherwise they'll fine you $25).
I will never bank with this outfit again & consider them just like crooks.
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Tuesday, 08-18-09 15:58
these guys suck!!!!! the website is horrible, the processes are horrible.
WellsFargo had a website better then this back in 1996
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Thursday, 08-13-09 00:19
Bank of the Internet is an oxymoron. From previous comments they do not do external ACH transfer except upon opening an account. You might be able to use other bank accounts to deposit or withdraw funds from your BOI account. Other comments indicate there is a fee if your account is closed within 90 days. Here is how they work.
1. You set up an account online and either create an EFT or mail a paper check.
2. 7-10 days later they mail you your account info and a signature card.
3. WHEN they receive your signature card back they will process your EFT or cash your initial check and send you an email says they have done this and to expect your login in the mail in a few days.
4. I am not sure what happens beyond this point.
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Tuesday, 08-11-09 03:09
I can't believe all the negative comments about BofI. I've had an account since 2005 and I couldn't be happier. For a checking account, the interest rate is very competitive and the best part is that they have ATM reimbursements.
I used to use Online Bill Pay to pay my rent and one month my apt didn't get the fee. I called the bank and then called my apt a couple days later. They said, "oh, you are the one with BofI? They've been calling us a bunch of times about your lost check." How's that for service? Sure the website may not be super snazzy, but you can view copies of your checks, you can view all your transactions since opening the account (i.e. they don't expire), you can download to Money, Quicken, or .csv file, and you can re-order pre-paid envelopes online.
It's true you can't initiate transfers electronically to other banks, but there's not a lot of banks that offer that. I have been super happy with BofI and don't understand what all the negative feedback is about. The only thing bad about BofI is the crappy name!
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Friday, 08-07-09 09:03
Just opened account, wish I read these comments before. Still no transfers, still same useless interface, no support for Google Chrome and no plans to support it either. Rate dropped to 2% after I opened account. $25 early closing fee, $7 check fee.
STAY AWAY
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Thursday, 08-06-09 22:20
Don't even try to open an account. If only someone posted the truth about this bank earlier I would not even try.
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Monday, 08-03-09 12:29
Save your money and save yourself a lot of frustration. It doesn't matter how high Bofi interest rate is, they are not worth the trouble! It took weeks for me to even get a username and password to log into my account and it all had to be done by snail mail. Once I got the information I encountered errors trying to set up my account. Finally got it set up but once in the account if I click on anything I get sent back to the login screen. There is nothing of use within the online stuff anyway. There is no way to transfer too and from external accounts. There is no way to make a withdrawal or deposit except by snail mail! You'd think with a name like Bank of the Internet they'd be a lot more high tech but there are many banks out there that actually have their acts together and offer excellent online services. I can't stress enough how bad this bofi is, if I could give it a negative rating I would. Just stay away, not even a high interest rate is worth this nightmare. Thankfully I only deposited $100. It will sit for 90 days (to avoid closing fee of $25) then I'm going to close the account. So unless they manage to do something really spectacular in 90 days (doubtful!), I'm done with it.
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Friday, 07-31-09 15:31
THE SAN DIEGO BRANCH HAS USELESS JERKS. THEY DON'T KNOW HOW TO OPEN AN ACCOUNT.
STAY AWAY......
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Friday, 07-31-09 15:26
THE BANK OF INTERNET IN SANDIEGO ARE CROOKS. THEY COLLECT PEOPL'S UTILITY BILLS, DRIVER'S LICENSE AND KEEP IT WITHOUT OPENING THE ACCOUNT. TOTALLY UNPROFESSIONAL,RUDE, INCOMPETENT JERKS. THEY FALSELY ADVERTISED THEIR RATE AS 2.50 PERCENT APY.
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Friday, 07-31-09 11:23
Just don’t deal with these folks. I’m a “depositor” of $200K+. I’ve spent two weeks opening a savings account. A check has cleared my local bank a week ago. They have my money. Since the money cleared locally, these jokers won’t even verify if I have an account yet. I can’t get a logon setup until they send me something (who knows what) via US mail. This is from Bank of INTERNET??? — I think a more accurate name would be No Tech No Branch Bank. They are totally technically inept. You can open an account and logon at most institutions instantly or at the very latest within 48 hours.
To top it off their phone “support” is beyond rude giving me suggestions such as “check your mail”. When it involves +$200,000 — I AM CHECKING MY MAIL! I’m on the verge of calling the banking commission.
Do yourself a favor – do this one thing and you’ll understand all of these complaints instantly. Call their number and ask a few questions. Call Ally or anyone else and ask a few questions. The DIFFERENCE will be extremely APPARENT! These guys don’t CARE, they’re INEPT, they’re RUDE, and they have no idea how to fix it. Here’s the quote from their “about us” section on the website – what a load of crap:
“Our goal is to provide our clients with an exceptional banking experience in order to foster long-term relationships. We respectfully invite you to open an account with us so that you can experience what sets us apart from our competition.”
Yep, it sets them apart – way apart – they stink.
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Sunday, 02-01-09 15:32
I just tried to open an account with them for this rate. They opened two accounts for me, sending me two signature cards and then had trouble telling me which had the funding information. They sent an email telling me to confirm the test funding for the ACH. The email was poorly written and made it seem as if I had failed to do this when it's the first time I was notified. However, I did it. I also mailed in my signature card. Well, that was over 10 days ago and nothing has happened. The ACH funding has expired since it's been over 14 days and I'm guessing my account went no where. I had a CD account with BofI years ago without problem, but I am NOT impressed with them on this at all. The whole transfer out thing is also disappointing, but you can work around that if the bank you're going to can "pull" the money from them (I do that with another bank). In the end, I would like this rate, but they make it too hard to open the account.
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Wednesday, 01-28-09 21:48
I opened a checking account at BofI in 2006 and very happy with them. I have a few direct dposits and auto payments and have no problems. BofI has a saving rate at 3.51% as of 1/28/09. It seems to be too good to be true. I just opened a saving account to see whether it is.
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Wednesday, 01-14-09 17:57
http://www.highyieldcheckingdeals.com/
Check out this website. There are a lot of banks offering well over 3% on checking accounts in every state of the union. This list is not very through.
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Tuesday, 01-06-09 06:12
http://consumerproblems.wordpress.com/2008/12/16/bank-of-internet-is-it-a-scam/
Unprofessional, never heard from them after sending in all paperwork for opening a checking account. Contacted them several times but could not get a reasonable response.
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Saturday, 01-03-09 23:23
Been using this bank for well over 5yrs never had any problems with deposits.For nycaross about external transfers they been working on that since I joined, but I have transferred out via other bank.
Now with this rate I am adding another account I like the rate well of to open that account now.
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Friday, 01-02-09 18:46
I just opened with Bank Of
Internet only to find that they
currently do NOT have external
transfers to/from other banks.
They said that they are working on it.
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Tuesday, 12-09-08 04:18
nice!
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Monday, 09-29-08 21:22
I've been pretty happy with their services the whole way through. The website started out with a clunky user interface, but it's been much improved upon. I've been using the basic checking account, but also recently opened a money market with them because their rates were more competitive than my previous money market account.
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