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doesnt seem like this is good for just getting the bonus. There are fees for inactivity for the account and for bill pay. Also doesnt seem to be too easy to fund the account. any feedback?
It is straightforward to fund the accounts -- you mail checks to Atlanta; being "active" once every 3 months is hardly prohibitive. There was an option to not use billpay at all, no fees that way.
As to the cons, it looks they started playing some dirty games within the last coiple of years; the gap between their rates and leading ones broadened significantly, yet they have various bonuses now. A couple of months ago they changed their terms to 7.5$ closing fee (perhaps a step against loosing customers?)-- they sort of denied that replying to direct questions, yet I vividly imagine how I will be proving them that their CSR swore that their new printed timeschedule meant something different. My experience with their Cust. Service has been terrible so far. Yet I have not had any prroblems when direct human participation was not needed.
is there a minimum for the deposit? (can i deposit $.01 every month to keep it active) The total payoff for this is pretty much the interest and $67.50
Checking or Money Market Account Closed Within 6 Months - $25.00
Account closure - $7.50
Checking Account Inactivity - No Charge if average monthly balance is $3,000 or greater. $3.00 per month after 3 successive months of inactivity on accounts with an average monthly balance less than $3,000
Online Bill Payment Inactivity - No Charge if average monthly balance is $3,000 or greater. $5.00 per month after 3 successive months of inactivity on accounts with average monthly balance less than $3,000
Besides having bad CSR how is Netbank compared to other major banks? I am thinking about opening a checking account with them due to their interest rates.
I wont be using any ATMs juct check card purchases and stuff like that here and there.
I tried to open a netbank account and having a ton of issues. They can't verify my address and won't tell me who the credit report agency they use was. I am a college student and change my address just about once a year since I live off campus. I have a PO box address that I have had for 2 years and all my mail goes there. Now they want a ton of info to verify my address. One thing they need is a utility bill. I dont pay utilities at my rental since its all included. I can give them my passport, SS card, drivers license and a pay stub that comes to my address but they stated thats not enough. Its not enough to verify my address. They need a utility bill.
Account closure - $7.50 if account balance is less than $7.50.
Online Bill Payment Inactivity - No Charge if average monthly balance is $3,000 or greater. $5.00 per month after 3 successive months of inactivity on accounts with average monthly balance less than $3,000. If you don't activate the function of Bill Pay, you will then never need to pay for Inactivity.
This rule is NO LONGER existing... Checking Account Inactivity - No Charge if average monthly balance is $3,000 or greater. $3.00 per month after 3 successive months of inactivity on accounts with an average monthly balance less than $3,000.
One thing the CSR does mention is that there is a dormant fee for Checking Account, if there is no activity for a year. However, transfer between accounts, like MM/CHK, is considered as an activity.
You might want to clarify the above post. I believe you're indicating the first of the three is no longer in effect, whereas the other two are now in force. The CSR I talked to the other day mentioned the $7.50 charge if balance was less than $7.50 at closure.
You can set up external links by following their help page, if you don't know how to do it. No physical check is needed.
Oh, and for those of you who have EmigrantDirect, you could use routing number 226070403 instead of the one provided on EmigrantDirect.com. I verify with CSR in ED already. They say this is their Bank's routing number which is also legit to do ACH.
My $500 initial deposit still hasnt shown up!!!!!!!!! I applied a week ago and it still shows a balance of $0, but my ING Direct already shows a $500 withdrawl. I emailed netbank and all they said was wait a couple more days. Did anyone have the same problem?
Yes, it took me 9 days for the initial deposits to show up. So...be patient.
11/07/2005 Account opened 11/16/2005 Account funded (about 7~8 business days) 12/22/2005 $75 credited (about one month after the account is completed to set up)
azntwboy said:My $500 initial deposit still hasnt shown up!!!!!!!!! I applied a week ago and it still shows a balance of $0, but my ING Direct already shows a $500 withdrawl. I emailed netbank and all they said was wait a couple more days. Did anyone have the same problem?
NetValue Checking does NOT have a monthly fee (or minimum balance requirement).
However, as noted by YT52 There is a $7.50 fee for closing the account (beyond 6 months).
Solution: Withdraw all money except but don't close account.
The other relevant fee is the "Dormant Checking Account fee"
They also note in their fee schedule "You will be charged $5.00/month beginning 12 months after most recent activity"
Solution: Using madtodaimax's strategy, deposit/transfer a small amount of money into the account once every 12 months. Setup a reoccurring deposit from your primary bill pay service.
Talking to a CSR (very helpful) today, she stated they would convert money market to NETVALUE checking over the phone if you no longer wanted to meet the minimum balance requirements for the money market account. This would not be considered closing the money market account and there would NOT be a fee associated with it.
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replying to direct questions, yet I vividly imagine how I will be proving them that their CSR swore that their new printed timeschedule meant something different. My experience with their Cust. Service has been terrible so far. Yet I have not had any prroblems when direct human participation was not needed. 
