Igobanking Complaint - Warning! - Online Bank

Review by cantbetoocareful on 2007-05-23
While recently searching for a high rate of return on a savings account, I selected bankrate.com to do my search.

I selected igobanking.com, based in Lake Success, NY, which has a three-star (out of five) rating and advertises 'Online or by mail today! Real Simple. Real Smart. FDIC Insured.'

There was some language in the terms and conditions which gave cause for a little concern, to paraphrase: the account owner may not recoup a loss due to error if the error is not reported within 60 days. But there was other language which seemed to be in favor of the account owner also.

I started opening an account and gave my account number and routing number in order to fund the account--and then the site requested my login id and password that I used to access my account.

Note: the site was not requesting that I make up a login and password for my new account with igobanking.com, it requested the login id and password that I used to access the account for which I had just given them all my information.

Of course, I stopped there, but some may not. Please BEWARE!!
Comments:2 Replies - Latest reply on 2008-06-07
Posted by Anonymous on 2007-05-23:
I recommend ING.
Posted by ratechaser on 2008-06-07:
It wasn't saying you had to enter that information, you could have chosen the trial deposit option instead. the only difference is the trial deposits take 3 days and the "real time" process(enter your login information for your bank)is instant.
I think igobanking is great and the rate is by far one of the best! I have accounts with ING and Emigrant Direct, I think igobanking works the best.

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