I don’t understand — what is the risk? If you have less than $100k, isn’t it all FDIC insured? Aren’t we guaranteed our money back if the bank goes under?

Had a CD mature in mid-May. This bank held my money in the CD for an extra 7 days until a check was mailed, EVEN THOUGH I REQUESTED in writing that a check be mailed to me with the balance ON the date of maturity.

Your call is very important to us, please we appreciate your patience during this brief delay.

Every effort is being made to make your wait time as short as possible

Thank you for holding, someone will be right with you.

Thank you for calling today, we’ll be with you shortly.

Thank you for your business. If you have any comments or suggestions, please let us know.

Thank you for holding, your call will be answered in just a moment.

We know your time is important and appreciate your patience while on hold.

How many times have you heard these phrases?

I had time to type this out while on hold for the third time for in excess of 30 minutes.

Don’t be lured by their rates. This bank will fall – let it fall. Look at their inventory of homes for sale on the front page of their website. Yikes! I pulled my CD out as soon as it matured.

Customer service is slow to answer and many, many times the reps are from India which is sometimes hard to understand. But there is a branch near my house so I am able to go there and do transactions such as deposits or closing accounts.

after checking the reviews I do’nt need this problems, I was going to open two cds acc this is not a Bank any body can talk to the federal goberment agency I am sorpriced nobody has done anything

I opened the account on 4/25/08 and they never witdrew the Money for 10 days. I called them and canceled my account. I invested the money somewhere else. They withdrew the money from my checking account after 12 days and now muy checking account is in negative by six digits. I am being hit by penalties. Now I am in hold for over 45 minutes to straigten out this mess.

My CD matured, I sent a fax to the number on the maturity notice and within a few days I got the check -I didn’t experience any problems.

Bank transfers from yours to theirs are about on par with most other online banks (3-4 business days). Interest rates are among the highest but I always double check by calling FIRST! There is however a real problem with getting your funds back when the CD matures. There is no FAQ to answer how this is accomplished. I messed up the first time and the CD rolled over (not what I wanted). The second time I called re: their policy. IM expects the customer to send or fax a letter stating their wish NOT to rollover. I faxed a request 7 days beforehand yet they tried to rollover the CD. I nailed them on it when they said it was never received as a kept a copy of the transmittal verification. GOTCHA! They sent the check overnight via USPS and I got it the next day. The Fed government should establish some ground rules ALL banks must follow re: CDs, renewals, cashouts and require full FAQs on all normal transactions so the consumer knows up front what to expect. Make me the FED Chairman and I’ll get it done pronto!

Spent God knows how long an hold (am on on hold as I write this to talk to a manager) I gave all my info over the phone to open 2 CD accounts last night. When I went to my local bank the following day (today), the funds were still there. I was mislead that the funds would be transferred. So I called and only waited 5 minutes to be told by an indymac employee they has no info RE: 1 of the 2 accounts. I asked to talk to a manager and was told one would call back this was 7 hours ago. I did place a second call which after holding for 15 min heard…My name is and was promptly disconnected. This was all during business hours and I am still on hold now … tick , tick . I thought, hey what if I was trying to get my money out!! I read the review section here and I have changed my mind. I am now hanging up after a 20 min wait. I thought I would tell a manager about my experience and see if I could get a direct number or at least inform them of what they more than likely know. The interest rate difference is not worth the horrible cost service or complete lack thereof!!

This bank will keep your money more than 14 days (without interest) after maturity if you want them to send you the check on the maturity date.

I am having a fit trying to get my $$ from a CD that matured 3/23/08. I faxed a letter on 3/17 that I do not want to renew [according to Indymac%u2019s direction] and then they say they cannot %u201Cfind%u201D the signature card I sent in at the start of the 6/mo CD. They say get a notary stamp next to my signature on the letter – I do, I faxed it yesterday [I now only have 2 biz days before it auto-renews] and they say not acceptable because I have to have a %u201Cletter of acknowledgement%u201D from the notary – I have already put in a complaint to the FDIC and headed back to WAMU and their notary here in Dallas TX to now do this instruction – we do not have this “form” in TX and they would not send form – notary pulled form on line from Bank in PA. I suppose I have nothing better to do then try to accomplish the same goal 4x over. Bottom line, I feel like they set up to hold your money %u201Chostage.%u201D Every time I am on the phone for the same reason to close the CD, they try to talk me into renewing – I am thinking they %u201Cmisplaced%u201D the sig card, then give me incorrect directions to close so it auto-renews before I can get this all done – not proper behavior for a bank.

Two weeks ago I requested an information packet. They sent me the packet with a postage-paid envelope. I signed up for the online special CD and sent the payment in that envelope. A week later, the signature card came with another postage-paid envelope. I haven’t spent even a penny on postage. I had a question about a term on the signature card and called them at 6:03 PST (they open at 6:00). After a hair over three minutes (6:06), a courteous representative answered my question. He spoke perfect English and was more than willing to assist me with anything I had questions about. I can see my account set up flawlessly online. I will review again when the CD reaches maturity (4 months).

Check sent Friday, February 29 from Alabama (this bank is in CA). Check deposited Monday, March 3 using their provided envelopes.

Signed up on-line for a 4.8 %
(yield 5.0 %) certificate of
deposit. My certified check
arrived ON-TIME by FedEX with
a signature.

I received my certificate of deposit in the mail today. It shows a 2.9 % interest rate instead
of the 5.0 % account I opened on
the internet.

That it NOT HONEST business.

marcusexp@yahoo.com

All calls are transfered to India and it is impossible to get any help from their main office in Pasadena, CA. They take a very long time to refund matured CD’s. Defenitely not worth the extra interest they offer. That’s a cover up for their poor customer service.

I have been waiting for over 3 weeks for funds that were withdrawn from my account. I have made many calls to customer service which has been outsourced for after hours calls. The only answer I get is to wait until the end of the week. When I asked to speak to a supervisor I was transfered to a voice mail that said no one was available and cut off. I called back and asked to have a supervisor call me. This was two days ago and still no call. I filed a complaint with the Office of Thrift Supervision. I ask you before you invest funds, is this the process you would chose to withdraw funds? As I read more reviews of IndyMac Bank I see this is a pattern of operation not the exception. If you read this before you invest, consider yourself warned. Proceed at your own risk.

IndyMac is the worst bank Ive ever seen. I have had trouble accessing my money every time I try and transfer funds. Again today. Im moving all of my money out of this institution and I highly recommend you find another bank. They are constantly having technical difficulties. I had to pay bills with my credit card last month due to this. NOT GOOD. They dont even get one star from me. Frightening Bank. Plus they limit how much of your money you can actaully get in a day and a month.

dont do business with this bank they charge free for tranfer your money,keyword your!money. There is a fee of $7.00 for next day tranfer and if you dont want to pay the fee you tranfer takes place 5 busniess day after initiate it then its free. Hope its not your emergency fund been stored here.

The rates at IMB have changed. As of 15-Oct-07 the best internet $25K MM rate is now 5.00%APY.

Website is a pleasure to use. Highly recommend

IF YOU STAY $25000 OR HIGHER YOU GETTHE HIGH RATE ON ALL MONIES.

Be careful folks, its a tiered interest rate. Only the amount above $25K will earn 5.75% Amount up to $25K will earn ONLY 1.8% So, your total interest earning is drastically reduced. Its a trick, dont fall for it….

Impressed with quality of phone representatives, setting up account did not seem to be any more of a hassle than with any other bank. Will stay as long as rate holds, but if FNBO continues to beat Indymac or another bank has a better rate will consider moving money.

I prefer FNBOs 6% with a $1 minimum. Well soon see if that rate holds as the Sep deadline is approaching.

As for the tiered interest, I have seen a bank where they only offered the high interest for balances beyond $20K. The first $20K only made about 1%!!! Its not a scam if its disclosed. Not a good way to gather a customer base and I wouldnt opt for it, but these types of accounts do exist even if few and far between. This does NOT appear to be one of them though.

the guy that wrote about how the interest is calculated is clearly uneducated, that is not how they calculate interest for their savings account, no bank would do that, it would yell SCAM all over it. I will say they press hard to sell you their other products when you are not interested, and customer phone service wait time was long.

The IndyMac current 4 month CD rate of 5.75% is accurate. Opened one last week and have written confirmation in hand. Interest is compounded daily and paid monthly. Great service, and EXCELLENT interest rate!!

bank is not a true internet bank because much has to be done by mail. customer service is also too busy to anwer your calls

Higher min deposits and lower rates.

Well I agree with other people that Min. deposit is to high. APY is fairly decent.

Min. deposit is to high. APY is fairly decent. It would seem like higher the deposit higher the APY.

Just not one of the better options. minimum deposit is a little to high