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Netbank thread

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#1 ale51


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Posted 14 April 2004 - 01:52 AM

This is an official iBankDesign thread to discuss Netbank
Below are links to online resources about Netbank.

#2 markber


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Posted 21 August 2005 - 04:22 AM

The following was posted on the ripoffreport.com:

NetBank Stolen Deposit Ripoff! Atlanta Georgia *UPDATE ..Stolen Deposit Update


Atlanta Georgia 30023
Phone Number:

In early April mailed in a deposit to NetBank for $300 with a money order as i have done many times. I use money orders because they are easy to track regardless of what money order company you use and can be refunded easily as well if they are lost. In this case it was a US Postal Money Order

A couple of weeks passed and the deposit was never credited to my account. This was plenty of time so I went to the post office and went through the whole procedure in order to have them track the money order for me. Several weeks later, on May 23, I received from the USPS a paper copy of both sides of the money order, showing it had been stamped by NetBank on April 15, 2005.

I quickly called NetBank with this information, and was told to give them serial numbers etc, and fax them the copy and send them a bank mail notifying them I sent in the copies and requesting the credit to my account. I immediately did this. I was told it would take 48 to 72 hours to research the problem.

I called back 48 hours, 72 hours, later, and today now 6 days later, and every time I call all I get is the problem is being researched. I am extremely infuriated about this, and feel very helpless to get my money back. They have not even sent me one bank mail to inform me of what they are trying to do.

If I ever get my money back I will immediately close my account, and never use this bank again. I am only leaving it open so I have legal recourse as a bank customer. Don't open an account with this bank.

Napa, California

Update Submitted by the original author
Submitted: 6/3/2005 1:53:45 PM Modified: 6/3/2005 1:53:45 PM

Stolen Deposit Update

Addendum to original Stolen Deposit Report:

On this particular day Customer Servie Rep. Sheryl Lynn answers the phone. I don't pull any punches. I am not rude, but express my extreme disappoint and frustration with Netbank's complete lack of decent service, and that I want my funds for which I have been waiting an unacceptable amount of time. Immediately she tells me she will transfer me to a supervisor. The next part is hilarious.

After A few minutes on hold some other rep picks up the phone and tells me. I will transfer you to Sheryl Lynn now. I ask her if she is a supervisor, and she tells me yes, I am a customer service supervisor. (They probably all are) She also doesn't seem to have any memory of talking to me two minutes before because she once again asks why I am calling. Like i don't know she's the one I talked too originally.

So for the 2nd time I explain the problem too Sheryl Lynn. Finally I get in touch with Brandon, and explain the problem the 3rd time in a very firm tone without being rude.

Brandon eventually tells me he will issue me a provisional credit for the $300. I asked him what he meant by provisional, and he says I will be able to access the funds, until they rectify the lost deposit situation at thier deposit center where the problem was forwarded to. I asked him if I would be penalized for using the funds and he said No. I figured this was the next best thing to actually having a permanent credit since I could use the funds and I agreed.

It doesn't take a genius to figure out I would shortly thereafter withdraw the funds, which I did, and the request the account to be closed. Now that I have done so, they show my checking account almost -$300. I'm sure they will never evenlook for the deposit they lost from me.

The long story short is stay the heck away from netbank, they are liars thieves and clowns.

Eric - Napa, California


#3 markber


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Posted 21 August 2005 - 04:35 AM

Feedback about Netbank from fool.com:


"My one experience trying to start up an online banking account was met with a month of frustrations and concluded without an account.

I tried starting an account with NetBank, but after I filled out the application they requested I fill out an affidavit of identification. I had just started switching all of my bills over to a new street address because I would be moving within a few weeks -- along with the affidavit I was supposed to include a copy of a utility bill (with my address on it) or a copy of my lease/mortgage.

The problems started right then and there...

1) the street address I used on the application I later found out was not able to be used because the Post Office does not link street addresses and post office boxes (as the PO did in my town growing up), so any mail delivered to my street address was sent back to the sender. For some reason I couldn't get them to change my address to my PO box or even get them to delete the application so I could resubmit it with the right mailing address.

2) I moved in with a friend, thus I had no utility bills and no lease/mortgage with my address on it (which wouldn't have been useful anyway, because any mail they sent to me at my street address to confirm my account would have been returned to them as undeliverable). Along with the affidavit I also included a copy of my passport... thinking that a federal document would be worth a bit more than a copy of a utility bill.

After a month and a half and 5 phone calls to their customer service dept (where i had to explain the situation all over again each time because they didn't document my situation because I didn't have an account number yet....) I was finally told my problem would be given to a supervisor and "elevated" .. after that point I never heard from them again and when I went to check on my pending application, it didn't exist anymore.

#4 friend


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Posted 06 March 2006 - 07:15 AM

Deposit Stolen By Netbank

I opened an account with netbank. My account had been opened for 30 days before i made my initial deposit. Like a fool, I decided to set up direct deposit through my employer to have my paycheck deposited directly into my netbank checking account. (What the hell did I do that for?) Netbank waited unitl funds were deposited into my account and then instantly placed a hold on my account and instructed me to complete and submit a notarized affidavit of identity, also requesting copies of a utility bill, pay stub, front and back of driver license, and a copy of my social security card. I really needed access to my funds right away. I started having second thoughts about banking with Netbank so I requested that my account be closed and a check be sent to me. Netbank refused saying that my account can't be closed and no check can be sent out until I sent in the requested documents. My deposit was for over $2,000 and Netbank told me that they have the right to hold onto any customer's funds until the requested info is received. So then I sent in the requested items. Three weeks went pass and stilll the hold remained on my account. Every time I called customer service I was told that it was still being processed and to check back in a few more days. I even sent about 8 bank mail which no one responded to. Eight weeks went by and still the hold still remained on my account. Still when I called I was told that it was still being processed. I have sent letters and still no response. In the tenth week, I called customer service again and now was being told that the documents were never received. They are LYING because I have proof. I sent those documents by Certified Mail and I have the recpt which was signed by Netbank.

I'm tired of the games! I'll see them in Small Claims Court. I don't recommend this bank to anyone. There is something strange going on at Netbank. Stay away!! It's safer to bank with a local bank that actually has a branch that you can visit in person.

#5 markber


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Posted 06 March 2006 - 07:41 AM

It's safer to bank with a local bank that actually has a branch that you can visit in person.

It looks like Netbank keeps giving online banks a bad name. There are many online banks (e.g. First Internet Bank of Indiana) that actually care about their customers.

#6 alee


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Posted 21 October 2006 - 03:22 PM

I've had my NetBank checking and money markets accounts open for over six months, so it's now time for me to close them. I'd like to know the best way to do this while incurring as few charges as possible.

If I just transfer all of the money out of my accounts to another bank, and then send them a letter by snail-mail telling them to close my account, will NetBank charge me for having less than $500 in my money market account? Will they demand the $7.50 account closing fees for each account if I don't leave that in my accounts?

Is there a better way to close my accounts?