Since I have been doing nothing but hating on Bank of Internet I thought I would share with you a story that a reader sent about his experience opening an account. Things went well for Chino and he was kind enough to update his experience for this blog:
10/18/2010
Hey Guys. All of your comments will cause an interested customer to think twice about keeping their money at Bank of Internet but they do have better rates than some of the other institutions. I’m going to Make an attempt to open a CD with Bank of Internet. I’ll let you know how this goes and will provide feedback on the customer service, time it takes to actually open the account, and time it takes for me to log-on onto their website and access my account detail. Tune in……..
Chino10/22/10
This is an update. I received an email the same day I applied for a CD via BofI’s website. The email explained that my information was verified and that I’ll be receiving some docs in the mail for me to sign and let them know how I would fund the account. Three days later a representative from BofI called me, verified some information, then told me that the documents have been sent and should arrive between 5 – 7 business days from when the app was filled. I actually got it the next day so from the time I filled out the app it took 4 days to receive the docs. I filled out the docs and sent them to BofI. Oh yeah, the representative that called me said that the CD promotional rate I applied for will be held and that if it changes that I will not lose the promotional rate applied for. So, so far so good. Let’s see if my rate does not change. Also, let’s see how long it will take BofI to actually open my account and give me access to my account on-line. Oh, last thing, the representative was nice and answered all my questions, though she could have been a little more professional, so I guess it was average service. Tune in.
10/27/10
I received an email from BofI today letting me know that my account has been funded. The email says that I’ll be receiving account information soon. This is where some stated that it took weeks and even months for them to get their internet account information. I hope this will not happen to me. Let’s see how long it’ll take for me to receive my account information and sign into my account via the web. So far this process has been very smooth, but let’s not celebrate yet as the last step (access my account online) is not yet complete. Will keep you updated.
11/1/10
Hey all,
Received the BofI welcome letter today
with directions on setting up my account on their website. I went on the website and did just that. It took about 4 minutes to set up the account and could have been quicker but didn’t know what password to choose. So now I have access to my account online and can see my deposit and pertinent account details, so that’s good. I got to say, my entire experience from beginning (researching) to the end (seeing my account on-line) wasn’t as bad as I feared. The only exception preventing a “A” grade was that their customer service, which I give a “B”. So, I recommend anyone looking to open an account at BofI to move forward and do it. For peace of mind regarding if the website is legit, access their website via the FDIC government website. I hope my experience will help some of you decide if BofI is for you. If not there are a ton of other banks out there that will help you. Take care.
Have any of you been able to successfully open an account with Bank of Internet recently?
