Comments on: OneUnited FREE $50 5.15% Savings Account

By: Bill

Bill — Wed, 26 Mar 2008 21:32:39 +0000

Compounded at 4% per YEAR at a Quarterly posting… IT is NOT compounded DAILY…Interest every 91 days. Quite deceptive…There ARE Fee(s) to check ON… No People to people CONTACT… Leave a message… READ the fine print… Do NOT be impulsive.

By: Bill

Bill — Wed, 26 Mar 2008 21:24:15 +0000

In a decling economy down goes your savings rate…DO NOT forget that there is a PENALTY when you close the account BEFORE a certain LIFETIME of the account…Remember FDIC reimbursement will take some time and insures the INDIVIDUAL a MAX of $100,000 INCLUSIVE of interest PER SS# and NOT by EACH account.

By: payattention

payattention — Sat, 15 Mar 2008 03:44:06 +0000

I opened an online account with One United over a year ago when the APY was 5.50. I regularly transfer money between my traditional bank account and One United at no charge, the most I have electronically transfered from the account is 30K which took about 3 days with no fees and I have also setup recurring transfers from my traditional bank account to the One United account. I will admit it was not easy figuring how to set this stuff but I’m a IT guy, but was worth it. The average joe would probably have alot of difficulty. I believe I am allowed to transfer up to 150K and the only time you will incur a fee if you want same day transfer. Interest is paid quarterly it FDIC insured and I live in Socal.
I can’t address customer service in any detail, but the one time I called I was promptly helped. It may have something to do with the large size of my deposit.

By: jeena

jeena — Sat, 08 Mar 2008 19:07:19 +0000

My 5.25% CD came due at Chase today, and of course I was not going to open another CD at the low rates under 3%. I told the bank employee I wanted my money in a bank check so I could by a car, I didn’t want to tell them I was putting it in Fidelity Investments Cash Reserves which is paying about 3.5%, with no time constraints on it, so they wouldn’t hassle me. Sure enough, the back employee, the teller, and the manager are now having a conversation. The bank employee comes back and tells me she can’t issue a check in my name because the car dealer might not accept it! She is making the assumption that I’m giving the entire check to the car dealer. She ask me if I wanted cash, or if I wanted the money put in my checking account, By this time I was fuming, I said just issue the bank check to Fidelity Investments. Now the bank manager comes over and tells me their rates are just as competitive as Fidelity’s. I said oh really, that’s
not what your CD rate sheet says. She said she meant Chase’s investment vehicles were comparable to Fidelity’s (yeah right, I was thinking). I told her I want my money out of Chase. Now the bank employee is telling me to come to her desk to get the check and she is still harassing me to keep some of the money at Chase for emergencies! I said why would I want to keep it here when I can get 3.5% someplace else with no time constraints! I have such a headache now, I will never get another CD from Chase, ever. They force you to go into the bank to get your CD when it comes due, so they can talk you into not taking it out! Next time I will go to ING and do everything on the phone, no hassle! Bye the way, I think Countrywide Bank is offering 4.11% n CD’s over $10,0000.

By: Max

Max — Thu, 06 Mar 2008 17:27:54 +0000

I haven’t had any trouble with them. The account was a bit slow to get set up, but that’s about it. I did not have to mail in any ID. I had some trouble with setting up the online thing, but got through to customer service right away to resolve it. Sucks that the interest rate has dropped so much, though.

By: Jeff

Jeff — Tue, 04 Mar 2008 03:38:59 +0000

This bank blows hard! AVOID AT ALL COSTS!

By: Calli

Calli — Thu, 28 Feb 2008 02:57:39 +0000

Worst customer service ever. Attempts to contact went without response. So glad I never completed the application and gave them my money.

By: Tukia

Tukia — Wed, 27 Feb 2008 01:17:42 +0000

Charter Bank of New Mexico is offering 6.01 APY for checking with some requirements. It seems a good offer if you have direct deposit. Check it out.

By: inphri

inphri — Sat, 23 Feb 2008 07:29:37 +0000

I wish I had read these comments before I signed up. Now they have my money and I don’t have access to my account there. I am very worried. I will try my best to close this account.

By: Fuseball

Fuseball — Sat, 23 Feb 2008 05:37:35 +0000

OneUnited dropped their rate to 4.60% APY.

They pay interest quarterly. They restrict the amount you can withdrawal per month. Their customer service is awful. The rate will continue to drop.

Not worth considering anymore.

By: gabby

gabby — Thu, 21 Feb 2008 14:11:45 +0000

This bank is PURE BOGUS !!! Over a month ago, i filled out the application. Tried contacting them dozens of times without ANY calls returned ! When I finally did speak to a rep, he inforned me they needed me to fax in my drivers license so they could complete my application.

Why didnt they at least email me and tell me of the hold up ? Then when I faxed them my drivers license, they never confirmed or open my account !

REALLY, come on people…..this is NO WAY to run a professional bussiness….

Sincerely,
One pissed off customer whos happy to go elsewhere !

By: ManBearPig

ManBearPig — Wed, 20 Feb 2008 20:21:07 +0000

ManBearPig keeps his money in ManBearPigs butt,

By: Mr Wilson

Mr Wilson — Tue, 19 Feb 2008 21:42:10 +0000

One more thing. I read dnr’s link. That person who wrote that blog is an idiot. I admit the final funding and creation of an online account is a little difficult. Sometimes the Experian ID check fails and that requires some paperwork. The funding part is easy, so it goes through faster. So it may seem they have your money and you don’t have an account # yet. The same thing happened to me, so I made a quick call and it was explained to me. Yes it took longer (see above) but if the process stalls you have to get involved. Once I understood that I needed to register online and then wait until I was assigned an account # all went smooth.

Also, if you’re going to play around in interest shopping online, you better understand how it works. The blogger didn’t know how to get his/her funds out of One United. I’ve never had trouble transferring funds out of any account. I did it from Italy when people were lining up at Countrywide branches wasting their whole day. I moved all my money out in 3 days (daily limit).

By: Mr Wilson

Mr Wilson — Tue, 19 Feb 2008 21:24:10 +0000

There isn’t a boogie-man under every rock. Countrywide was rock solid until it was quicksand.

I have an account with OneUnited. Opened it almost 2 months ago.

Here’s what I can say:
It’s one of the hardest online accounts to open. The online ID verification seems to be down and you have to mail in your ID. There seems to be a delay in the final verification period so it took almost 2 weeks to get the account funded and online.

Once online it’s fairly simple and they use the same system as many other banks. The external funds transfer has crashed twice, but it was the first business day of the week and I can only assume it’s over worked.

I had to call in twice and one time I got the voicemail (not within hours of operation). The other time I was helped by friendly and knowledgeable online teller.

So far the only part I don’t like is the ‘compounded quarterly and credited quarterly’

At the moment I have 6 bank accounts where all my money is spread.

FNBO
AmTrust
OneUnited
Countrywide
iGoBanking
DiscoverBank

The list is in order of my best to worst experience with online banks.

Hope that helps.

By: henry f.

henry f. — Fri, 15 Feb 2008 18:29:16 +0000

Savings accounts are not allowed more then 6 withdrawal per
month by Federal regulation.
Something fishy is going around with this Bank……
I will not apply.

By: Bill Hopkins

Bill Hopkins — Thu, 07 Feb 2008 19:00:47 +0000

Black owned bank paying a high rate- to loan out to poor blacks and other poor minorities at much higher rates . Nice Black Republicans who know how to manipulate the system like their White and Arab brothers in finance.

By: romod

romod — Thu, 07 Feb 2008 07:49:39 +0000

Yep I stopped payment on my life savings to them tonight,they have not answered my e-mail sinced I signed up with them and you can’t get through on the phone just an answering service telling you to wait wait wait,plus I live about 3000 miles away from them so they freaked me out and also the The Better Business Bereau gives them a grade “F”.Funny I never heard a bad thing about them before I signed up.

By: Nazim

Nazim — Tue, 05 Feb 2008 19:09:22 +0000

Their customer service department is the worst. I have been calling them for 1 week now and they have yet to respond to my question “you have cashed my check and have received all my identifying documents, Why do I not have online access to my account ?” What wrong with this picture ?

By: E. Elan Kesler

E. Elan Kesler — Tue, 05 Feb 2008 18:25:26 +0000

Have found ongoing problems with various banks incurring CDs in a timely fashion. Will someone tell me please who today (reputable) is doing a 5%, 3 mo CD, cause i sure wont be going with OneUnited after these insights.

By: dnr

dnr — Tue, 29 Jan 2008 23:58:23 +0000

Googled the bank and got this interesting blog post
http://fabulousfinancials.com/2006/07/my-drama-with-oneunited-bank-is-over.html