I opened savings and cd accounts at Discover online in 2009 and it was neither quick nor simple; it took a while for my funds to be deposited, my online access to be established, etc. And last year, transferring funds between Discover and my other banks was a major pain. However, they have been slowly improving their online banking. It is now much easier to transfer funds, although Discover seems to take about a day longer than ING does. And it was trivial, when my cd matured, to deposit those funds into savings instead of having the cd renew automatically. The Discover cd rates are currently significantly higher than ING, so now that things seem to be working smoothly I am transferring the bulk of my savings from ING to Discover. I'm thinking of transferring my IRA over as well.
Have a number of IRA CD's. One recently matured and I decided to withdraw the funds. Filled out their form to have funds sent electronically to my local account. Received a written confirmation dated August 11 that funds would be scheduled for transfer on August 20. Called DiscoverBank on August 26 when funds did not arrive at my bank. Was told initially by customer service that funds were actually transferred on August 21. When I pressed to speak with transfer department, she put me on hold and came back to say that the funds transfer was actually initiated on August 22, and that there was no actual transfer department that I could speak with. Why am I not being paid extra interest for the day (or two) that DiscoverBank held my funds before actually initiating the transfer?
People that whine about banks being "insensitive" just need to stop charging, get a second or third job and pay their darn bills! Stop living beyond means and stop expecting everyone else to pay for YOUR mistakes. I raised a child on my own. No welfare, no food stamps. Just lots of hard work and pride. What happened to everyone's pride and self esteem?