To those that have applied and have accounts, what are your impressions so far? According to the Bank Deals Post, they will automatically charge you for the first box of checks, but you can opt to not receive checks. Is this option available during the online application process? Is it easy to ACH in/out from other banks? Has anyone actually been able to confirm that they're getting the 6.01% rate?

DavidScubadiver said:I took the plunge and opened an account yesterday (subject to approval, additional paperwork yadda yadda yadda). Primarily, I did not wish to pay a $50.00 membership fee to join the credit union because I am not all that confident the higher cap on that account would stay in place long enough for me to recoup my investment (that, and I am content with having $25,000 of my own money in a checking account now that my 0% offers seem to have dried up and gone away). Heck, I don't recall ever having 25k in cash of my own money that did not get dumped right into the stock market!That was February 11th. I receive a letter on March 1st (postmarked February 27th and dated dated February 22nd), with my account information. First reward account to open which did not require a notarization. That was a plus. Letter says they will process the debit card once they receive my signature page back with the opening deposit. Dropped it in the mail today with my $100 check. Its a slow process. As always, hoping the rate holds above my other accounts.

DavidScubadiver said:I have been granted online access. The website is among the poorest designed I've seen for a bank. I am a bit surprised that there is nothing in the HELP/FAQ/INDEX/GLOSSARY that speaks to how to make a deposit. Indeed if you do a search for the word "deposit" you get no entries. Kind of makes you wonder about how ready they are to do internet banking, IMHO.

They do not provide their ABA routing number either. Hopefully they will respond to the E-mail inquiry. Definitely no way to link an account internally. Another Hallmark of a bank not ready for prime time. Can't complain about 6% though!
Thanks for the information. To look up a routing number, try Federal Reserve E-Payments Routing Directory. Entering Charter for the Name, and selecting New Mexico for the State or Territory, gives: Charter Bank, 3070-7242-7.

ETA:

As for how to do a deposit, assuming you can't visit a branch:

1. Mail
2. ACH
3. Online bill pay
4. Wire

I don't know if their ATMs are on a network that would accept deposits from non-Charter ATMs. Regardless, my preferred method, unless it's a big deposit, is to mail a check or use online bill pay. Most likely using online bill pay will also result in a check being sent (instead of an electronic payment), but I like the idea of the source bank doing all the work for me, including paying for postage.

While I agree this information should be on their web site -- they do have branch addresses there, one of which you could probably mail your check to -- I guess I don't see calling an 800 number or sending an e-mail as making you "work so hard at it." As for how to make a deposit, that's pretty much standard among various financial institutions, AFAIK. And you're welcome for the information about how to look up routing number.

I'm not disagreeing with your statement that the bank should have its routing number online, I'm saying that it's easy enough to obtain, and that the address(es) to which you can send a check or use online bill pay are on the web site. You don't need routing number for those two methods of depositing money to your account. I don't know if you've received any paperwork from them yet; perhaps that would have this information, as well as fees for incoming/outgoing wires and such.

I just think that statements such as "I am a bit surprised that there is nothing in the HELP/FAQ/INDEX/GLOSSARY that speaks to how to make a deposit.", "Plus it is moronic for an internet bank to require you to pick up the phone to find out how to add money to your account.", and "...they don't list an address on the website to mail a check" are over the top a bit, given what I've already stated.

The postage-paid envelopes are a nice bonus.

Finally, I don't recall you making these kinds of complaints against SBoT, rather you waxed prolific (and I mean prolific) about them -- at least, until their rates fell. Perhaps routing number is on SBoT's web site, but I don't see it, nor do I see wiring instructions. I don't see a search function there, either. Perhaps if Charter had an uncapped 6.01% APY, the incomplete web site information would be a bit less moronic to you.

I won't prolong this discussion any further, and I hope you have an otherwise good experience with Charter Bank.

A simple suggestion, which I'm sure you've already done. Point out these deficiencies to Charter Bank, and tell them they must change their web site/welcome packet to include routing number, official mailing address for deposits, wiring instructions, etc. Who knows, perhaps your suggestions (if Charter implements them) will make obtaining this information easier for everyone else.

OK, I've prolonged the discussion. But only to make a constructive suggestion.

umafuaba said:glxpass said:A simple suggestion, which I'm sure you've already done. Point out these deficiencies to Charter Bank, and tell them they must change their web site/welcome packet to include routing number, official mailing address for deposits, wiring instructions, etc. Who knows, perhaps your suggestions (if Charter implements them) will make obtaining this information easier for everyone else.

OK, I've prolonged the discussion. But only to make a constructive suggestion.

glxpass, have you even opened one of these accounts? If the answer is no, then why the hell are you sticking up for this bank?
What I'm trying to say, perhaps not all that well, is that although I agree this information should be on their web site, I simply don't assign the weight to the lack of that information that DavidScubadiver does. I think it's not that difficult to figure out ways to deposit money into the account, even if it involves a phone call or an e-mail to confirm it.

I find it more disturbing that Charter Bank doesn't give this information in the documents they send to new account holders. Now that I realize this, I'm in full agreement with that aspect of DavidScubadiver's argument. I hope he has made his opinions clear to Charter, and that they will implement them.

6.01% APY is one of the top rates out there, but of course you have to jump through a few hoops to get that rate. I suppose I'd consider getting the routing number, wiring instructions, and mailing address as just one more hoop (albeit a one-time one) to jump through.

Although I don't have an account with Charter, I've a number of similar ones. The lack of information on a web site has never been a problem for me, nor has meeting the requirements been a problem, and in return, I've received top rates -- for a while. Unfortunately, given the rate environment we're in, Reward Checking rates have already dropped at a number of banks and CUs, and will probably continue to do so.

When the good rates go away, then I'll be more likely to make these types of complaints.

DavidScubadiver said:I have been granted online access. The website is among the poorest designed I've seen for a bank. I am a bit surprised that there is nothing in the HELP/FAQ/INDEX/GLOSSARY that speaks to how to make a deposit. Indeed if you do a search for the word "deposit" you get no entries. Kind of makes you wonder about how ready they are to do internet banking, IMHO.

They do not provide their ABA routing number either. Hopefully they will respond to the E-mail inquiry. Definitely no way to link an account internally. Another Hallmark of a bank not ready for prime time. Can't complain about 6% though!

I applied online on February 29 and today, March 14 I received my signature page and pre-paid postage envelope. The documents detail information regarding my account, including the account number and the ROUTING NUMBER!!!!!!!!!!!!!!! Could it be that they heard your complaint and decided to include it for all subsequent applicants, or did you just not see this number when you received the paperwork?

umafuaba said:DavidScubadiver said:I have been granted online access. The website is among the poorest designed I've seen for a bank. I am a bit surprised that there is nothing in the HELP/FAQ/INDEX/GLOSSARY that speaks to how to make a deposit. Indeed if you do a search for the word "deposit" you get no entries. Kind of makes you wonder about how ready they are to do internet banking, IMHO.

They do not provide their ABA routing number either. Hopefully they will respond to the E-mail inquiry. Definitely no way to link an account internally. Another Hallmark of a bank not ready for prime time. Can't complain about 6% though!

I applied online on February 29 and today, March 14 I received my signature page and pre-paid postage envelope. The documents detail information regarding my account, including the account number and the ROUTING NUMBER!!!!!!!!!!!!!!! Could it be that they heard your complaint and decided to include it for all subsequent applicants, or did you just not see this number when you received the paperwork?I will need to check and get back to you. Only document with an account number on it in my package was the paper and copy of paper that I had to sign. Only the account number was listed at the top. But I will go back to review!

I applied 4 days ago and today I received email saying that they are sending a welcome packet over. I called and got wire instruction for faster funding. FYI The routing number is 307072427.